KeyCorp reported a 33.5% drop in first-quarter profit on Thursday as its net interest income was eroded by higher deposit costs and elevated interest rates kept borrowers on the sidelines. U.S. banks have been grappling with increased funding costs as elevated interest rates prompt customers to move cash from banks to safe-haven higher-yielding alternatives like money-market funds for better returns. Net interest income (NII), or the difference between what a bank earns on loans and pays out...
15 State Officials Warn Bank Of America About 'De-Banking' Of Christians Authored by Naveen Athrappully via The Epoch Times, A group of 15 financial officials from 13 states sent a notice to Bank of America, raising concerns about the institution’s “de-banking” of Christians. “We write to express our concerns over Bank of America’s troubling track record of politicized de-banking. Bank of America’s de-banking policies and practices threaten the company’s financial health, its...
Global consultancy Kearney has today released the sixteenth edition of its annual European Retail Banking Radar, which tracks the performance of close to 90 retail banks across 21 European markets. The study found that higher interest rates fueled a record year for retail banks. However, it also warned that banks should be leveraging their current […]
Several state treasurers and other officials sent a letter to Bank of America warning the banking giant of apparently targeting customers with conservative politics by de-banking them—however, Tennessee State Treasurer David Lillard's signature was absent.
Royal Bank of Scotland (RBS) has said it plans to close 18 of its 86 branches across Scotland – including three of its Edinburgh banks. The closures, which will see the loss of 105 jobs across the country, will leave 69 branches in Scotland. RBS, who are now under the NatWest Group banner, said the further reduction in branch numbers is due to declining use by customers – but insisted there will be no further closures before 2026. The closures include three branches in Edinburgh, three in...
The Bank of America is not bullish no any currency in Asia, leading the investment bank to deem the start of a "chaotic era" for these currencies.
Apple executive Alex Rofman says Apple Arcade was not set up to make the company money, but also insists that game developers are getting an income. Apple Arcade Apple Arcade launched in 2019, and was then included in the Apple One bundle in 2020. Today, as it approaches its fifth anniversary, Apple Arcade is also the best place for Apple Vision Pro spatial games. According to Apple Arcade senior director Alex Rofman, though, the service is not about promoting spatial games, or even...
DoorDash projected second-quarter core profit below expectations on Wednesday despite beating first-quarter revenue estimates, indicating that higher costs were offseting some of its gains from rising groceries and food orders. "When I look at the business from Q4 to Q1, costs did go up," said CFO Ravi Inukonda in an interview with Reuters, adding that the company passed on some fees to consumers. DoorDash expects adjusted earnings before tax, interest, depreciation, and amortization between...
This ESR Qi2-certified charger juices up your phone while holding it securely, even on bumpy roads.
(Reuters) - First Solar reported higher first-quarter profit on Wednesday compared to the same period last year, helped by resilient demand for solar energy.The company reported a net profit of $236.6 million, or $2.20 per share, for the three months ended March 31, compared to $42.5 million, or 40 cents per share, in the same period last year.Analysts expected an average of $1.99 per share, according to LSEG data.The U.S. solar market has seen significant momentum since last year, helped by...
UK house prices fell at the sharpest pace in eight months after the cost of mortgages crept higher, one of the country’s biggest lenders said.
GE HealthCare Technologies Inc.'s stock fell 10% in premarket trades