Finance Banks


  • NEW YORK— Bank of America said Wednesday that its fourth-quarter profits fell by nearly half from a year ago, as the bank had to book $2.9 billion in charges related to the new tax law. Like many banks this quarter, Bank of America had to write down the value its stockpile of deferred tax assets on its balance sheet. Because the maximum corporate tax rate was reduced...

  • FRANKFURT, Jan 17- Deutsche Bank expects far fewer staff than some had expected to move from London to the continent following Britain's departure from the European Union. "Not thousands will move from London, but rather hundreds", Stefan Hoops, the head of Deutsche Bank's capital market division in Germany, told journalists on Wednesday. Deutsche Bank is...

  • Goldman Sachs beats on top and bottom lines

    Goldman Sachs reports quarterly earnings of $5.68 per share and revenues of $7.834 billion.

  • Jan 17- Bank of America Corp's fourth-quarter profit nearly halved as it booked a $2.9 billion charge stemming from the new federal tax law. The lender's net income fell to $2.37 billion, or 20 cents per share, for the quarter ended Dec. 31 from $4.54 billion, or 39 cents per share, in the year earlier period. Excluding the tax charge, the lender earned $5.3 billion, or 47...

  • Pedestrians pass in front of a Bank of America branch in New York City.

    CNBC's Wilfred Frost reports on Bank of America's quarterly earnings of $0.47 per share and revenues of $21.4 billion.

  • *Case to begin in New York on Wednesday. LONDON, Jan 17- The U.S. Department of Justice has charged a Barclays foreign exchange trader over his alleged role in a scheme to defraud a client of the bank, the DoJ said. Robert Bogucki, the former head of foreign exchange trading in New York for the British bank, is alleged to have manipulated forex options before a large trade...

  • Brian Moynihan, Bank of America

    Bank of America reported better-than-expected adjusted fourth quarter earnings Wednesday before the opening bell.

  • FRANKFURT, Jan 17- European Central Bank President Mario Draghi should give up his membership of the opaque Group of 30 consultative body because it risks hurting public confidence in the ECB's independence, the European Ombudsman said on Wednesday. At present its members include Draghi, Bank of England Governor Mark Carney and People's Bank of China...

  • PARIS, Jan 17- Former EU lawmaker Sylvie Goulard is set to be named deputy governor of the French central bank on Wednesday, two sources said, putting her in the frontline of European Central Bank policymaking. Goulard, 53, was a member of the European Parliament from 2009 until French President Emmanuel Macron named her defense minister following his 2017...

  • FRANKFURT, Jan 17- The European Central Bank's President Mario Draghi should give up his membership of the Group of 30 talking shop of financiers, as it risked hurting public confidence in the ECB's independence, the European Union's ombudsman said on Wednesday. At present its members include Draghi, Bank of England Governor Mark Carney and People's Bank of...

  • Pedestrians pass a Wells Fargo bank branch in lower Manhattan on April 15, 2016 in New York City.

    Ask bankers when they will start paying more for the money that savers have in their deposit accounts, and the answer is: not any time soon.

  • Robert Shiller

    U.S. President Donald Trump is like a "revolution" taking place in U.S. society, according to Nobel Prize-winning economist Robert Shiller.

  • NEW YORK, Jan 17- The U.S. Depositors now have $11.95 trillion at U.S. commercial banks, close to the $11.99 trillion record set in November, according to data from the Federal Reserve Bank of St. Louis. Even rates on one-year certificates do not appear to have moved at the three biggest U.S. consumer banks JPMorgan Chase& Co, Bank of America Corp and Wells Fargo& Co...

  • BEIJING, Jan 17- The reduction, announced last September, in the amount of cash some Chinese banks must hold as reserves will become effective on January 25, the People's Bank of China said on its official account on China's Twitter-like Weibo on Wednesday.

  • *2- day meeting ends Jan 23, decision expected 0330-0500 GMT. TOKYO, Jan 17- Japan's central bank is set to maintain upbeat price forecasts next week and paint a slightly better picture of the economy than it did three months ago, signaling its conviction the country is making slow but steady progress in eradicating deflation. Bank of Japan Governor Haruhiko...

  • How should India clean up its banking sector?

    Bad loans in state-owned banks are still a major concern for India. Cornell University's Eswar Prasad talks about ways the government can address that issue.

  • A clerk counts stacks of Chinese yuan at a bank in Beijing, China.

    Bad debt and high levels of shadow banking activities are among the country's most worrisome risks.

  • This analyst has a hold rating on Citi

    Ken Leon, equity analyst at CFRA, says other banks, such as Bank of America, have have a larger footprint in the U.S. compared to Citigroup.

  • **LONDON- BOE Member of Monetary Policy Committee Michael Saunders: Launch of Financial Intermediary and Broker Association 1145 GMT. WASHINGTON- Senate Banking Committee holds a vote on the nomination of Jerome Powell to be chairman of the Federal Reserve 1500 GMT. PALM BEACH- Federal Reserve Bank of Chicago President Charles Evans and Federal Reserve Bank of...

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