Saudi Arabia’s ACWA Power Co (TADAWUL:2082) has clinched a debt financing deal with the Bank of China, providing it with cash to support a 200-MW solar pro
M&T Bank posted a 25% drop in first-quarter profit on Monday as higher deposit costs reduced its interest income, and a turmoil in the commercial real estate (CRE) industry prompted it to set aside more rainy-day funds. Regional lenders have had to pay higher interest rates on deposits to prevent customers from fleeing to higher-yielding alternatives, such as money market funds. Buffalo, New York-based M&T Bank's net interest income - the difference between what a bank earns on loans and pays...
(Bloomberg) -- Apple Inc.’s iPhone shipments slid a worse-than-projected 10% in the March quarter, reflecting flagging sales in China despite a broader smartphone industry rebound..The company shipped 50.1 million iPhones in the first three months, according to market tracker IDC, falling shy of the 51.7 million average analyst estimate compiled by Bloomberg. The 9.6% year-on-year drop is the steepest for Apple since Covid lockdowns snarled supply chains in 2022, the researchers said..The...
Student debt, a new Gallup report shows, is making it harder for young people to reach key life milestones. According to a Gallup survey of over 14,000 adults, over 70% of people say student debt has “delayed major life events” including moving out of their parents’ home, getting married, and having a child. Strikingly, there […]
The group reviewed the apps and websites of Britain's 13 largest current account providers between January and February, with assistance from computer security experts.
JOPLIN, Mo. — As soon-to-be graduates finish their studies - it's time to start planning for financial success. "Arvest Bank" representatives suggest setting up a budget, and using online tools and services through your bank. They add it's important to know what funding sources are coming in and what's going out and recognize the difference []
The People's Bank of China (PBoC) announced on Monday it will keep its one-year loan prime rate (LPR) unchanged at 3.45%. Additionally, the bank's five-year loan prime rate remained at 3.95%,
Mounting competition in the stuttering electric vehicle market is taking the juice out of Tesla. The automaker's first-quarter profit plummeted 55% as falling global sales and price cuts sliced into the EV maker's revenue and earnings. The company said Tuesday it made $1.13 billion in profit from January through March, compared with $2.51 billion in the same period a year ago. Revenue was $21.3 billion, down 9% from last year, the company said.Tesla executives blamed the dip partly on EV sales...
At least two countries have declared bankruptcy due to an inability to repay foreign interest payments, primarily to China.
The largest U.S. banks are reporting a slowdown in lending. Bank of America and PNC were the latest to do so, with the former reporting Tuesday (April 16) that lending was “sluggish” and the latter saying its lending dropped 1%, the Financial Times (FT) reported Tuesday. With their earnings reports released Tuesday, they joined three other top banks — Citigroup, JPMorgan Chase and Wells […]
The results from the nation's second-largest lender offer the latest example of how even the biggest banks are increasingly challenged by high interest rates.