Tag Archives: Bank

DAVOS, Switzerland — Bank of America (BAC) CEO Brian Moynihan is pushing back on the view held by some investors that the Federal Reserve will slash interest rates in 2023 to jumpstart a potential recessionary U.S. economy. “They may leave [rates] higher for longer just to make sure they squeeze out that services-side inflation,” Moynihan told Yahoo Finance at the World Economic Forum (WEF) on Tuesday. Moynihan pointed out that his research team is expecting a “mild” recession this year…. Source link

DAVOS, Switzerland — Bank of America (BAC) CEO Brian Moynihan is pushing back on the view held by some investors that the Federal Reserve will slash interest rates in 2023 to jumpstart a potential recessionary U.S. economy. “They may leave [rates] higher for longer just to make sure they squeeze out that services-side inflation,” Moynihan told Yahoo Finance at the World Economic Forum (WEF) on Tuesday. Moynihan pointed out that his research team is expecting a “mild” recession this year…. Source link

[unable to retrieve full-text content]Bank earnings: Goldman Sachs and others see investment banking slowdown, layoffs  Yahoo Finance Source link

The Federal Reserve, FDIC, and the Office of the Comptroller of the Currency (OCC) issued a joint statement on Tuesday warning about “significant” risks crypto assets may pose to the broader banking system. “It is important that risks related to the crypto-asset sector that cannot be mitigated or controlled do not migrate to the banking system,” the agencies said in a joint statement. “Given the significant risks highlighted by recent failures of several large crypto-asset companies, the… Source link

Markets remain on edge regarding the outlook for inflation, as seen in the hit to stocks last week amid a hotter than expected read on the Producer Price Index (PPI). Furthermore, this week’s Federal Reserve meeting could feature Chairman Jerome Powell pushing back on recent financial easing in markets. Couple those factors with expectations for muted corporate profit growth and a recession in the U.S., and uncertainties for the stock market in 2023 are abound. The team at Deutsche Bank led by… Source link

SAO PAULO, Dec 8 (Reuters) – Alphabet’s (GOOGL.O) Google Pay has received approval to operate as a payment institution in Brazil, Latin America’s largest economy, the country’s official gazette showed on Thursday, allowing it to initiate payment transactions. Payment initiators, according to Brazil’s central bank, initiate a transaction ordered by the final user but never manage the payment account, nor hold the funds of the transactions. A press spokesperson for Google confirmed the central… Source link

Roughly a year from today, the S&P 500 will likely have gone nowhere, strategists at Bank of America Global Research said in their year-ahead outlook published Monday. Equity strategists at BofA set a 2023 year-end price target of 4,000 on the benchmark index — an increase of less than 1% from Monday’s close of 3,963.94 — as annual earnings per share for the S&P 500 are seen declining 9% next year to $200. This drop in earnings reflects a figure roughly 15% below current estimates. In… Source link

Roughly a year from today, the S&P 500 will likely have gone nowhere, strategists at Bank of America Global Research said in their year-ahead outlook published Monday. Equity strategists at BofA set a 2023 year-end price target of 4,000 on the benchmark index — an increase of less than 1% from Monday’s close of 3,963.94 — as annual earnings per share for the S&P 500 are seen declining 9% next year to $200. This drop in earnings reflects a figure roughly 15% below current estimates. In… Source link

Cadence Bank Houston Open Houston, TexasMemorial Park Golf Course – Par 70 – 7,412 yardsField – 132 entrantsPurse – $8.4M The Preview Nearly 50 players finished in double-digit red numbers last week at Mayakoba, but 10-under-par could be close to the winning score this week in Texas as a much tougher Memorial Park Golf Course hosts the Cadence Bank Houston Open for the third time since 2020. Length is emphasized on this 7,412-yard layout that features a trio of difficult par-5s, two of which… Source link

Florida and Georgia issued a joint statement on Sunday morning condemning an antisemitic message that was projected onto the exterior of TIAA Bank Field after the Bulldogs’ 42-20 win over the Gators. The message positively referenced Kanye West’s antisemitic remarks earlier this month. The statement from the school not only denounced what was projected onto the stadium but “other antisemitic messages” in the city of Jacksonville. “We strongly condemn the antisemitic hate speech… Source link