Tag Archives: Bank

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

Bank of America says 5G ‘comes alive’ in 2022 — it sees big upside potential for 3 smaller-name stocks that could give you a piece in a pivotal year 2021 turned out to be a great year for many 5G stocks. But according to Bank of America, 2022 could be even better. “This is the year 5G comes alive,” says the bank’s Global Research team. Bank of America points out that wireless carriers like Verizon, AT&T and T-Mobile plan to spend tens of billions of dollars on 5G deployment in the… Source link

Consumer prices in December rose the most year-over-year since 1982, feeding into the Federal Reserve’s guidance that it may need to raise interest rates three times this year to combat inflation. But one economist says the last year has taught an important lesson: forecasters have to stay humble, and nimble. That means there’s no guarantee that three hikes will be necessary. “I think there’s some downside risk for the economy, and, therefore, three hikes are not necessarily in the… Source link

Retail investors haven’t lost confidence in the bull market in stocks (yet) despite a tough start to the year, according to new data from Bank of America’s strategy team of Savita Subramanian and Jill Carey Hall. “BofA Securities clients were small net buyers of U.S. equities the first week of 2022 ($0.5 billion), during which the S&P 500 fell 1.9%. Clients bought both ETFs and stocks. Retail and hedge funds clients led the buying last week while institutional clients began the year with… Source link