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...During the first quarter, UBS trimmed expenses by 5.5 per cent. It generated an additional $1bn in cost savings, having eliminated $5bn last year....
...The bank has increased its deposit base by 15 per cent to £3.4bn in the period and has a total loan balance of £2.7bn....
...“I’ve applied for a bank account, a business bank account and as soon as I get to ‘what’s your occupation’ and I put the sex industry, it just won’t let me carry on,” said Webster, adding: “So you want me...
...household savings....
...In contrast, the tide that has lifted the US high-yield market is on the wane,” said Grant Webster, co-head of emerging market and sovereign FX at asset manager Ninety One....
...And Webster Financial is highly concentrated in CRE, at 265 per cent of capital....
...Over the past 12 months, the KBW bank index has gained more than 20 per cent, compared with the 6 per cent increase for the regional banking index. The gap will persist. pan.yuk@ft.com...
...in giving customers with savings a better deal.”...
...The central bank raised its inflation forecast for 2024 to 3.8 per cent from 3.2 per cent previously....
...The rate of inflation in the UK peaked at 11.1 per cent in October 2022 but has not yet come down to the Bank of England’s 2 per cent target....
...As of Friday, average two-year and five-year fixed mortgage rates were 5.61 per cent and 5.24 per cent respectively, according to finance website Moneyfacts, unchanged from the previous day....
...The bank said it continued to expect an average NIM for its banking operations of 2.9 per cent this year, in line with previous expectations, despite signals there would be fewer central bank rate cuts than...
...A five-metre-high wall displayed Webster’s latest work, “The Crime Scene”, a vast collage of her teenage possessions, from bootleg Siouxsie and the Banshees cassettes to Polaroids, gig tickets and battered...
...Of this, Visa or Mastercard, which operate the networks that connect cardholders with banks and merchants, collect perhaps 20 cents....
...Indeed, having just read the latest investment outlooks from the major banks and asset managers, the only major stock market offering anything close to a 9 per cent expected return is China’s....
...While the Bank of England bides its time cutting interest rates, it is possible to get more than 5 per cent in a savings account....
...The share of global financial assets held by these non-bank financial institutions has risen from 25 per cent after the 2007-08 crisis to 47.2 per cent in 2022, higher than the 39.7 per cent of conventional...
...Even with the 35 per cent jump in the shares on Thursday, the stock price has crab walked sideways for five years....
...BBVA will need to extract cost savings equal to 15 per cent of Sabadell’s operating overheads, after tax, about €312mn this year....
...Under the terms of the deal, Nationwide would offer a total of 220p for each Virgin Money share, including a 2p final dividend, a 38 per cent premium to the bank’s closing share price on Wednesday....
...But banks are finally having to pass on higher savings rates to depositors, according to JPMorgan and Wells Fargo, which also reported earnings....
...This has remained the same since 2016, so is more easily eclipsed by returns from the higher bank savings rates of recent times....
...Roughly 40 per cent of UK stocks, two-thirds of US stocks do them every single year....
...Let’s look at how often the Bank has reached a decision where internal members represented a majority for the decision (ie internal ‘fors’ represented >50 per cent of the whole vote)....
...“As we’ve been saying for a while, migration from checking and savings to CDs is sort of the dominant trend,” JPMorgan’s chief financial officer Jeremy Barnum told analysts on the bank’s first-quarter earnings...
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