Tag Archives: Bank

Small business owners often face hurdles trying to borrow money. Data from the Federal Reserve shows that 85% experienced financial difficulties in 2021. And during that time, more than half of owners who sought loans were looking to meet their operating expenses rather than to expand their businesses, the report found. In addition, small business owners are also feeling the sting of higher prices. Inflation in the country is now running at annual 7.9% for the 12-month period ended February,… Source link

Banks will kick off earnings season this week, with first-quarter results due out from a lineup of industry heavyweights led by JPMorgan Chase on Wednesday. The latest quarterly figures are expected to preface a lackluster year for bank profits despite the lift anticipated from higher interest rates. According to projections compiled by S&P Global Market Intelligence, U.S. bank earnings will fall by more than 8% in 2022 from last year, namely as the financial boost from releasing reserves… Source link

U.S. households — particularly low-income ones — are still sitting on a healthy pandemic nest egg, cushioning them for now against steep price increases on food and energy. That means that even with consumer prices forecast to have risen 8.4% in March, shoppers shouldn’t be running out of cash. That’s the finding of a new Consumer Checkpoint report from the Bank of America Institute, which showed debit and credit card spending rose 11% last month, or 6.7% on a per-household basis. The… Source link

A version of this post was originally published on TKer.co Deutsche Bank made waves on Tuesday when its economists became the first of the major Wall Street analysts to say the U.S. economy would soon go into recession. “Two shocks in recent months, the war in Ukraine and the build-up of momentum in elevated U.S. and European inflation, have caused us to revise down our forecast for global growth significantly,” Deutsche Bank economists, led by David Folkerts-Landau and Peter Hooper,… Source link

Main Street banking is poised to see the best growth since the 1980s, when Madonna and Michael Jackson were on MTV, Ronald Reagan was in office, and everyone had long hair and wore neon attire. And Bank of America (BAC) will be the biggest winner. That’s according to Wells Fargo analyst Mike Mayo, who told Yahoo Finance Live on Thursday that traditional banking revenue will grow the same way it did in the 1980s, creating a boom for the industry in the next three years. Moreover, BofA stands… Source link

Bank of Canada Governor Tiff Macklem speaks during a news conference (REUTERS/Blair Gable) The Bank of Canada raised its target for the overnight rate to 0.50 per cent. The 25 bps hike to contain inflation is the first since 2018, after cutting to help cushion the pandemic’s economic blow in 2020. Canada’s central bank says more rate hikes are coming but says it is following the situation in Ukraine closely. “The unprovoked invasion of Ukraine by Russia is a major new source of… Source link

Customers at a number of banks in Russia can no longer use their bank cards with Google Pay and Apple Pay due to newly-imposed financial sanctions on the country, as reported by Insider. According to a press release from Russia’s Central Bank, affected financial institutions include VTB Group, Sovcombank, Novikombank, Promsvyazbank, and Otkritie FC Bank. Sanctions issued by the EU target 70 percent of Russia’s banking network While customers can still use bank cards from these… Source link

After seeing a brutal reception on public exchanges post IPO in 2021, Bank of America strategists think it’s time to strike on a few unloved market newbies. “Fundamentals remain intact for many of the 2021 IPOs,” says BofA strategists Jill Carey Hall and Thomas Thornton.  The strategists listed 16 companies with an average market cap of $1.22 billion where they believe the fundamentals — notably revenue outlooks — continue to be favorable and perhaps disconnected from their current… Source link

It’s time to load up on shares of Apple (AAPL) after the stock’s less than joyous start to 2022, argues Deutsche Bank.  “Considering a healthy demand backdrop and Apple’s strong product portfolio across its product lines, we believe the Street estimate for CY22 revenue growth of only +5% (vs. Deutsche Bank estimate of +9%) is too low with the push-out of some revenue from calendar year 2021 already accounting for ~3 percentage points of growth, and we therefore believe there is an upward… Source link

PHOENIX — Why are bogus Google charges still ending up on credit card accounts across the country? What’s being done about it? We’ve been asking Google and the banks for months. Yet, the scam continues affecting more people. And some of them say they’re having a hard time getting these fake charges removed. “I looked at the balance and was like ‘what’,” says Jeannine Gailey. It’s her Citibank card balance and it’s much higher than what she expected. “I knew I hadn’t spent much money… As I… Source link