Credit Suisse Group AG on Tuesday published its annual report for last year, and confirmed previous years’ financial results, after a delay amid discussions requested by the U.S. Securities and Exchan...
Tag: International Banks
Bank of America Has Biggest Losses in Bond Portfolio Among Peers
Bank of America is sitting on the largest losses among the country’s biggest banks in a key portion of its bond portfolio. Bank of America (ticker: BAC), like other banks, invests in Treasury securiti...
First Republic Bank gets funding boost from Fed, JPMorgan
First Republic Bank FRC, -14.84% said Sunday it had bolstered its financial position through “additional liquidity” from the Federal Reserve and JPMorgan Chase & Co. JPM, +2.54%. In a statement, t...
Banking Selloff Goes Global After SVB Trouble. HSBC, BNP Paribas, UBS Tumble.
The selloff in the banking sector spread across the globe on Friday after SVB Financial Group said it was forced to unload assets at a loss following a decline in deposits. HSBC (ticker: HSBA.UK), Eur...
Credit Suisse Stock Is Falling. Annual Report Is Delayed After Call From SEC.
Credit Suisse shares were falling on Thursday after the Swiss lender said it is delaying the publication of its annual report. The stock was down 5.3% in Zurich trading. Credit Suisse (ticker: CS) Ame...
HSBC profit more than doubled, boosted by higher interest rates
HSBC Holdings PLC’ fourth-quarter net profit more than doubled compared with the same period a year earlier, as higher interest rates boosted its top-line growth while better cost efficiency further s...
Sell your Bank of America shares now, says KBW
Shares of the largest U.S. banks have been performing well so far this year, but David Konrad of Keefe, Bruyette and Woods believes the party is over for Bank of America Corp. Konrad downgraded Bank o...
Wealthy clients pulled more than $100 billion from Credit Suisse in the fourth quarter
Beleaguered Swiss banking giant Credit Suisse on Thursday revealed that wealthy clients pulled 92.7 billion francs ($101 billion) out of the bank in the fourth quarter. Credit Suisse said two-thirds o...
‘Edge of a swamp’: JPMorgan strategist sees ‘one time only sale’ in fixed income as U.S. economy slows
Fixed-income yields “all look good,” and you might want to get some while you still can, according to JPMorgan Chase & Co.’s David Kelly. It’s a “one time only sale,” said Kelly, chief global stra...
Energy Earnings Could Drop 11%
After two years of skyrocketing growth, oil and gas earnings are now past their peak. The good thing for the stocks is that the peak was remarkably high, and the decline is likely to be very gradual. ...
Bed Bath & Beyond Says Banks Have Cut Off Its Credit Lines
Bed Bath & Beyond Inc. said it doesn’t have the funds to repay its banks after they determined the retailer has defaulted on its credit lines. The home-goods chain said Thursday it received a noti...
No more ‘special awards’ for JPMorgan CEO Jamie Dimon, board decides
JPMorgan Chase & Co.’s board heeded an outcry from shareholders about Chairman and Chief Executive Jamie Dimon’s compensation, which in the past has included more than $50 million in “special awar...
Here’s why Citigroup’s stock stands out among the biggest U.S. banks
The “big six” U.S. banks have all reported their fourth-quarter results, wrapping up a difficult 2022, when soaring interest rates forced a decline in several areas of business. Citigroup Inc. C, -1.7...
What JPMorgan and Other Banking Giants Are Saying About a Possible Recession
America’s banking giants are looking into their economic crystal balls, and not all of them like what they see. JPMorgan , Bank of America , and other top U.S. banks recently offered economic outlooks...
Bank of America’s Subramanian says S&P 500 earnings risk a 10% drop in 2023
“ ‘We are likely to see some downward revisions [to earnings] and our forecast for profits growth for 2023 is $200 for the S&P 500. That would mean about a 10% decline in earnings peak to trough.’...
JPMorgan, Wells Fargo, Bank of America and Citi beat earnings expectations, but worries about headwinds remain
JPMorgan Chase & Co., Bank of America Corp., Citigroup Inc. and Wells Fargo & Co. managed to beat Wall Street’s reduced expectations for their fourth-quarter profits as higher interest rates b...
JPMorgan Chase, Bank of America and Wells Fargo earnings show the good, the bad and the ugly of people’s finances. So how are they holding up?
Friday’s wave of big-bank earnings gives an important glimpse into Americans’ finances amid high prices, rising interest rates and recession worries. At first glance, most consumers appear to be keepi...
Citigroup Reports Earnings Friday. Here’s What Wall Street Expects.
Citigroup is in the midst of a yearslong turnaround. On Friday, Wall Street will see how successful the bank’s efforts have been. Like most of its peers, Citigroup (ticker: C) is expected to post a dr...
Bank of America Posts Earnings Friday. What Wall Street Expects.
Higher interest rates are expected to drive up Bank of America ‘s fourth-quarter revenue, even as the bank is projected to see a drop in profits. Bank of America (ticker: BAC) is forecast to post reve...
JPMorgan says it was duped by founder who made up 4 million customers
JPMorgan Chase has alleged in a lawsuit that it was duped by a start-up founder who made up 4 million customers for an app designed to help students through the college financial aid process. In a law...
Credit Suisse to delay publication of 2022 annual report on SEC comments
Credit Suisse Group AG said Thursday that it will delay the publication of its 2022 report after a late call from U.S. market regulators over 2019 and 2020 cash-flow statements, adding a further heada...