Banks
European stocks extend gains at open; UK retail sales better than expected; NatWest posts profit beat
Europe stocks open higher European stocks opened higher Friday, rounding off a strong week that has seen investors monitor a slew of earnings and data. France’s CAC 40 index was 0.6% higher after marking an intraday record high, while London’s FTSE 100 gained 0.7% after British retail sales beat forecasts. Germany’s DAX was up 0.54%. […]
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Wells Fargo says regulators have lifted a key penalty tied to its 2016 fake accounts scandal
NEW YORK, NEW YORK – MAY 17: President and CEO of Wells Fargo Charlie Scharf attends The Future of Everything presented by the Wall Street Journal at Spring Studios on May 17, 2022 in New York City. (Photo by Steven Ferdman/Getty Images) Steven Ferdman | Getty Images Entertainment | Getty Images Wells Fargo said Thursday […]
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Large curiosity costs enable Germany's Commerzbank put up greatest outcomes in 15 decades
Commerzbank on Thursday noted a 55% hike in web earnings for 2023, as superior interest charges assisted the German banking big report its most effective outcomes in 15 several years. Internet gain for the yr beat anticipations to come in at 2.2 billion euros ($2.36 billion), up from 1.4 billion euros a 12 months previously. […]
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As online romance scams rise, banks ask for help to save victims billions
The banking industry is seeking help from the federal government and the social media industry to stop an escalating crisis that’s costing Americans billions of dollars every year: online romance scams. These digital crimes have proliferated since the pandemic, as criminals pose as attractive partners and reach out to lonely Americans on social media. “We […]
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Big banks have drastically cut overdraft fees, but customers still paid $2.2 billion last year
Pedestrians pass a JPMorgan Chase bank branch in New York. Michael Nagle | Bloomberg | Getty Images The three biggest American retail banks collected 25% less overdraft revenue last year as the companies, under pressure from regulators to cap the fees, created new ways for customers to avoid the penalties. JPMorgan Chase, Wells Fargo and […]
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NYCB woes reignite fears about shaky banks as anniversary of March disaster nears
The New York Neighborhood Financial institution (NYCB) headquarters in Hicksville, New York, US, on Thursday, Feb. 1, 2024. Bing Guan | Bloomberg | Getty Photos Embattled lender New York Community Bank disclosed a litany of fiscal metrics in the previous 24 hrs in a bid to soothe skittish traders. But just one of the most […]
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NYCB shares continue tumble after Moody's downgrades bank's credit rating to junk
A sign is pictured above a branch of the New York Community Bank in Yonkers, New York, U.S., January 31, 2024. Mike Segar | Reuters New York Community Bank’s shares continued their downward spiral Wednesday after Moody’s Investors Service cut the firm’s credit rating two notches to junk status. NYCB shares fell about 3%, trimming […]
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UBS beats earnings expectations, announces up to $1 billion share buyback
Fabrice Coffrini | Afp | Getty Illustrations or photos Swiss banking large UBS on Tuesday narrowly beat fourth-quarter earnings anticipations and introduced that it would recommence share buybacks value up to $1 billion in the 2nd 50 % of the calendar year. The team posted a net decline attributable to shareholders of $279 million for […]
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Shares of Italy's UniCredit jump 10% and hit eight-calendar year substantial on earnings conquer
A logo on the UniCredit SpA headquarters in Milan, Italy, on Saturday Jan. 22, 2022. Bloomberg | Getty Images Shares of Italian lender UniCredit hit their maximum level since 2015 on Monday, following saying it would return 8.6 billion euros ($9.2 billion) to investors on the back again of higher-than-anticipated income. The Milan-primarily based lender […]
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A Goldman Sachs-backed electricity firm is making a play to reach more Americans’ homes
Omar Marques | Lightrocket | Getty Images Goldman Sachs abandoned an ill-fated push into consumer banking in late 2022, but an investment in a Texas energy retailer means its reach into American homes is about to grow. Rhythm Energy, a Houston-based electricity provider overseen and owned by a Goldman Sachs private equity fund, has won […]
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