Stocks wrapped the session and the week with mixed results on Friday, after big US banks kicked off earnings season with upbeat profits, and as the developing conflict in the Middle East kept investors on watch. The Dow Jones Industrial Average (^DJI) was the sole index to end the day […]
Bank
Receive free UK interest rates updates We’ll send you a myFT Daily Digest email rounding up the latest UK interest rates news every morning. The Bank of England has raised interest rates 0.25 percentage points to 5.25 per cent and warned borrowing costs are likely to remain elevated despite slowing […]
July 11 (Reuters) – Bank of America (BAC.N) on Tuesday agreed to pay $250 million in fines and compensation to settle claims the bank systematically double-charged customers fees, withheld promised credit card perks, and opened accounts without customer authorization. Bank of America agreed to pay $100 million in restitution to […]
[1/6]A general view of the Bank of America financial center in New York City, U.S., June 26, 2023. REUTERS/Brendan McDermid NEW YORK, June 27 (Reuters) – Bank of America Corp (BAC.N) is adding consumer branches in four new U.S. states, it said on Tuesday, bringing its national footprint closer to […]
[1/2]A U.S. flag flies outside a branch of the Silicon Valley Bank in Wellesley, Massachusetts, U.S., March 13, 2023. REUTERS/Brian Snyder WASHINGTON, June 20 (Reuters) – The U.S. Justice Department antitrust division plans to expand the scope of its bank merger review process, the department’s chief said on Tuesday, in […]
The Federal Reserve said Wednesday it was keeping its key interest rate at about 5% — the first time it has kept the rate steady in more than a year. The reason for the hold: Inflation appears to be finally easing, and the Fed wants to assess whether it has […]
U.S. stocks tumbled on Tuesday as the fallout from First Republic Bank’s (FRC) failure continued to hit bank stocks and the Federal Reserve began its two-day meeting. The S&P 500 (^GSPC) closed 1.16% lower, while the Dow Jones Industrial Average (^DJI) tumbled more than 300 points, or 1.08%. The technology-heavy […]
This is The Takeaway from today’s Morning Brief, which you can receive in your inbox every Monday to Friday by 6:30 a.m. ET along with: Sign up for the Yahoo Finance Morning Brief here. On Saturday, Berkshire Hathaway (BRK-A, BRK-B) investors will gather in Omaha to hear from CEO Warren […]
U.S. stocks closed Friday’s trading session sharply higher as investors digested the Labor Department’s closely watched April jobs report, which showed the U.S. labor market remains strong but that growth is moderating. That gave investors hope that the Fed may pause its interest rate hikes at its meeting next month. […]
CHARLOTTE, N.C., April 18, 2023 /PRNewswire/ — Bank of America reported its first-quarter 2023 financial results today. The news release, supplemental filing and investor presentation can be accessed at Bank of America’s Investor Relations website at https://investor.bankofamerica.com/quarterly-earnings. Investor Conference Call information: Chief Executive Officer Brian Moynihan and Chief Financial Officer Alastair […]
Investing legend Warren Buffett believes there could be more bank failures down the road, but depositors should not ever be worried. “We’re not over bank failures, but depositors haven’t had a crisis,” the Berkshire Hathaway chairman and CEO told CNBC’s Becky Quick on “Squawk Box” Wednesday from Tokyo. “Banks go […]
U.S. stocks were mixed on Monday, as bank stocks moved upward after North Carolina-based First Citizens (FCNCA) bank agreed to buy most of Silicon Valley Bank. At the close, the S&P 500 (^GSPC) edged up 0.2% and the Dow Jones Industrial Average (^DJI) gained 0.6%. The Nasdaq Composite (^IXIC) was […]
WASHINGTON — Treasury Secretary Janet Yellen said on Wednesday that the Federal Deposit Insurance Corporation (FDIC) was not considering providing “blanket insurance” for banking deposits following the collapse of two prominent banks this month. Yellen made the comments at a hearing of a Senate appropriations subcommittee, where lawmakers posed questions […]
U.S. stocks moved higher Tuesday following U.S. and European efforts to stabilize the banking system. The S&P 500 (^GSPC) climbed 1.3%, while the Dow Jones Industrial Average (^DJI) gained nearly 1%. Contracts on the technology-heavy Nasdaq Composite (^IXIC) jumped 1.6%. Bond yields are rising, “potentially indicating less of a recessionary […]
New York CNN — First Republic Bank, facing a crisis of confidence from investors and customers, is set to receive a $30 billion lifeline from a group of America’s largest banks. “This show of support by a group of large banks is most welcome, and demonstrates the resilience of the […]
U.S. stocks finished Monday mixed as volatile trading gripped Wall Street after federal banking regulators took aggressive actions to stem the fallout of Silicon Valley Bank’s failure. The S&P 500 (^GSPC) declined 0.1%, while the Dow Jones Industrial Average (^DJI) ticked down 0.3%. Contracts on the technology-heavy Nasdaq Composite (^IXIC) […]
WASHINGTON — Treasury Secretary Janet Yellen sought to reassure markets and lawmakers on Thursday that the federal government is committed to protecting U.S. bank deposits following the failure of Silicon Valley Bank and Signature Bank over the weekend. “Our banking system remains sound and Americans can feel confident that their […]
On Wednesday, Silicon Valley Bank was a well-capitalized institution seeking to raise some funds. Within 48 hours, a panic induced by the very venture capital community that SVB had served and nurtured ended the bank’s 40-year-run. Regulators shuttered SVB Friday and seized its deposits in the largest U.S. banking failure […]
CHARLOTTE, N.C., Jan. 13, 2023 /PRNewswire/ — Bank of America reported its fourth-quarter 2022 financial results today. The news release, supplemental filing and investor presentation can be accessed at Bank of America’s Investor Relations website at https://investor.bankofamerica.com/quarterly-earnings. Investor Conference Call information Chief Executive Officer Brian Moynihan and Chief Financial Officer […]
The Bank’s Financial Stability Committee on Sep. 28 announced a two-week emergency purchase program for long-dated U.K. government bonds. Bloomberg | Bloomberg | Getty Images LONDON — The Bank of England’s emergency bond-buying program draws to a close on Friday, with traders remaining on edge as volatility in the U.K. […]