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Bitcoin's price jumped after London's Financial News reported that BlackRock has formed a team of experts to investigate cryptocurrencies and blockchain. » Read More
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ASKED WHAT ADVICE HE WOULD GIVE THE U.S.
Financials haven’t had a good month. One strategist is betting on a big bank comeback into year-end.
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NEW YORK— Bank of America's second-quarter profits jumped 33 percent from a year earlier, the company said Monday, as it cut expenses and, like nearly all other big banks, benefited greatly from the new tax law. The banking giant, based in Charlotte, North Carolina, on Monday reported earnings of $6.78 billion, or 63 cents per share, up from $4.75 billion, or 44 cents a...
*Rare piece of good news for Germany's flagship lender. FRANKFURT, July 16- Deutsche Bank expects second-quarter net profits will be more than double analysts' forecasts in a rare piece of good news for Germany's largest bank which is cutting costs to try to revive profitability. The bank's unexpected earnings preview on Monday said net profit would be around...
FRANKFURT, Germany— An international forum on financial regulation say virtual currencies such as bitcoin do not currently pose a threat to global stability but require "vigilant monitoring" as the market is changing rapidly. The officials meet in Buenos Aires, Argentina, on July 21-22. The FSB's chair, Bank of England Government Mark Carney, has said that one...
July 16- Bank of America Corp reported quarterly profit above Wall Street expectations as the second-largest U.S. lender kept a tight leash on expenses and benefited from growth in loans and deposits. Recent moves by regulators and politicians to lower tax rates have largely benefited U.S. banks, but concerns around an escalating trade war between the United...
FRANKFURT, July 16- The European Central Bank has advertised for a new bank supervisory chief, looking for an expert to oversee a sector still weighed down by bad loans and weak profitability following the bloc's debt crisis. 5 3 f e 9 c 2 f 9 7 6 c 3 5 5 1 0 4 f 7 d b 5 5 4 7 9 9 5 f 9 8 published on the ECB website on Monday formally launches the process to replace France's Daniele...
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According to reports in the New York Times, Goldman Sachs is expected to formally name successor to CEO Lloyd Blankfein.
*Rare piece of good news for Germany's flagship lender. FRANKFURT, July 16- Deutsche Bank expects to report second-quarter net profit well ahead of forecasts, a rare piece of good news as Germany's largest lender cuts jobs and costs to try to restore profitability. The bank said net profit would be around 400 million euros in the quarter, more than double a...
Salman Ahmed, chief investment strategist at Lombard Odier Investment Managers, speaks about investing given the current geopolitical climate.
Dan Veru, chief investment officer at Palisade Capital Management, discusses what the U.S. yield curve is indicating about the broader economy.
Dick Bove, Hilton Capital Management’s chief strategist, said the three major U.S. banks that have reported earnings have one thing in common: Their capital hasn't grown by much since a year ago.
An announcement is expected as soon as Monday to name Goldman Sachs president, David M. Solomon, as the bank's next chief executive, the New York Times reports.
Dick Bove of Hilton Capital Management says there is a "massive amount of misinformation" surrounding banking and interest rates.
LONDON- Michael Sheren, senior adviser within the Bank of England: Panelist at Green Finance Summit, London 1230 GMT. WASHINGTON D.C.- Federal Reserve Chairman Jerome Powell gives semi-annual testimony on the economy and monetary policy before the Senate Banking Committee- 1400 GMT. **WASHINGTON D.C.- Federal Reserve Chairman Jerome Powell gives semiannual...
WASHINGTON, July 13- The Federal Reserve on Friday pointed to "solid" U.S. economic growth during the first half of the year in its semi-annual report to Congress, where it also reiterated that it expected to continue to raise interest rates gradually. It is the Fed's second submission to lawmakers since Chairman Jerome Powell took the helm of the Fed in early...
NEW YORK, July 13- An escalation of U.S. trade tariffs would harm the economy's prospects, according to a Federal Reserve official who is making it his business to raise the alarm with lawmakers and government officials. U.S. trade disputes are also escalating with Europe, Canada and Mexico that could slow business investment at home. Kaplan, whose district...
John Shrewsberry, Wells Fargo CFO, explains why his bank lagged behind in earnings.
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