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...
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.
High interest rates have created strong headwinds for the global energy transition, according to a new report by Wood Mackenzie.
The number of mortgage applications, including refinancings and additions, increased by 16 percent in the first quarter of 2024 compared to the same quarter last year. Applications for the purchase of a home increased by 19 percent, De Hypotheker reported on Wednesday. Half of these applications were from young home buyers under the age of 35.
Electric vehicle registrations rose in recent years despite interest rates also rising. Experts caution Canada's transition to EVs could still be challenging.
Consumers face the prospect of permanently higher interest rates amid geopolitical tensions and “slower globalisation”, a Bank of England official has warned.]]>
Tabitha Richardson was found to be 'threatening and menacing' to her seven victims during a 20-year career. Now the loan shark has been told to pay back money she has made or face 19 months in jail.
A key member of the US central bank, Raphael Bostic, tells the BBC rates might only ease "at the end of 2024".
Micro Trumps Macro As Stocks Shrug Off Week Of Higher Inflation, Higher Rates, & Lower Growth It was an ugly macro week Source: Bloomberg and worse still, 'growth' surprises disappointed significantly while 'inflation' surprises surprised to the upside significantly Source: Bloomberg Soaring inflation expectations sent rate-cut expectations to new cycle lows Source: Bloomberg pushing yields higher across the board (led by the long-end) Source: Bloomberg But, stocks...
It marked another increase after the prior month's annual gain of 6%, and
Homicides are falling across the U.S. And that shift could impact the role crime — often a top voter concern — plays as an issue in November's election. But it is a phenomenon for which experts don't have a clear explanation. Some say homicide peaks come and go in cycles, some say policing improved after the []
Britain’s FTSE 100 index reached a record high of 8,076 points early on Tuesday April 23 as hopes grew of cuts in the interest rate. This overtook the previous day’s 8,023 and outstripped February 20023’s record 8,0476 points. The City was counting on two interest rate reductions this year, with the first announced in August after […]