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...and small banks as merchants gained the ability to steer customers to preferred credit cards....
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...Email us about anything else: robert.armstrong@ft.com and ethan.wu@ft.com. NYCB gets worse It is a sign of our times that a pretty big US bank is in deep crisis and nobody much cares....
...It has proposed Richard Anderson, the former chief executive of Amtrak and Delta Air Lines, and Mary Kathryn “Heidi” Heitkamp, a former US senator....
...Central banks take centre stage this week, Benjamin Netanyahu defies western allies over his strategy in Gaza, and the US National Labor Relations Board is facing challenges from some major companies....
...A Cleveland-Cliffs/US Steel combination would have created a US national champion....
...The pressures on NYCB come almost a year after the failures of Silicon Valley Bank and other regional banks unsettled the US banking industry....
...The number of problem banks in the US has jumped 18 per cent, regulators warned, as New York Community Bank was stabilised by a $1bn capital raise led by former US Treasury secretary Steven Mnuchin....
...US regional banks are not out of the woods yet....
...DD will be there, so rustle up a team of up to six and see if you have what it takes to beat us. Details here....
...Yen: it’s all about US The Bank of Japan has left negative interest rates behind, yet yen weakness continues unabated....
...JPMorgan hired him in 2000 to build a business for the bank in convertible bonds. There Raghavan dominated rivals....
...Polish central bank chief Adam Glapiński told the FT he was seeking a truce with Prime Minister Donald Tusk after an increasingly bitter feud....
...Neither has stopped share prices of US mortgage lenders from regaining favour among investors....
...Stocks of other smaller banks also fell, with the KBW Regional Bank index declining by 6 per cent....
...That shake-up is the driving force behind 20,000 job cuts at Citi, the third-largest US bank by assets....
...The restructuring is aimed at stripping away the layers of bureaucracy that have made the US’s third-largest bank by deposits so unwieldy....
...Central banks in the US, UK, Japan, Australia and Mexico all announce interest rate decisions next week....
...Klein time The talented banker Michael Klein has found himself in the US Senate’s crosshairs for his work with Saudi Arabia, according to Puck....
...US airlines generated $6.8bn from them in 2022, the latest data available, according to the Bureau of Transportation Statistics. That is more than double from a decade earlier....
...Mounting losses from banks in the US, Asia and Europe have rekindled concerns about weakness in the US commercial property market, a sector that has been under pressure from lower occupancy levels and higher...
...All these factors are helping inflation come down earlier than central banks expected only last year....
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