[ad_1] Bank of America Corp. BAC -3.20% said the economic rebound had more than doubled its profits, but low rates were weighing on its income. The country’s second-largest bank in terms of assets on Wednesday posted second-quarter profit of $ 9.22 billion, down from $ 3.53 billion a year earlier. The bank earned $ 1.03 … Read more
[ad_1] In this photo illustration, Oatly Oat Milk is shown on May 20, 2021 in Chicago, Illinois. Scott Olson | Getty Images Short-sighted activist Spruce Point Capital Management accused Oatly of shady accounting practices and misleading consumers and investors about his sustainability practices. The company, which has taken a short stance against the oat milk … Read more
[ad_1] Black rock Inc. BLACK -3.59% second quarter profit rose 14% on the arrival of new money in the asset manager giant, a sign that investors are increasingly confident about an economic recovery. The company posted quarterly profit of $ 1.378 billion or $ 8.92 per share, up from $ 1.214 billion or $ 7.85 … Read more
[ad_1] OPEC has reached a compromise with the United Arab Emirates, agreeing to increase the amount of oil the cartel member can possibly pump as part of a larger deal with Russian-led producers to increase supplies. global, according to people familiar with the matter. Crude prices fell immediately upon news of the deal, although they … Read more
[ad_1] (Bloomberg) – Bank of America Corp. struggles to rebuild loan income as consumers, dripping with cash from government stimulus programs, avoid taking on new loans. Loans and leases in the consumer banking unit fell 12% from the previous year. Net interest income, on a fully taxable equivalent basis, stood at $ 10.3 billion in … Read more
[ad_1] “I would say it’s its own epidemic,” she said. The restaurant’s Facebook post resonated with many online, who condemned the rude behavior. Update July 14, 2021, 7:29 a.m. ET “Barely out of the past 15 months, you’d think people would be grateful if they could just enjoy a meal out,” wrote a Facebook commentator, … Read more
[ad_1] Federal Reserve Chairman Jerome Powell said on Wednesday the economy needed to improve further before the central bank changed its ultra-relaxed monetary policy. In remarks prepared for the House Financial Services Committee, the central bank chief noted improvements, but said the labor market in particular was still well below what it was before the … Read more
[ad_1] ARK Investment Management, led by Cathie Wood (ARK) lose shares in chipmaker Nvidia (NVDA) – Get a report and Shopify e-commerce back-end provider (SHOP) – Get a report, transferring part of its capital to Coinbase Global (PIECE OF MONEY) in the midst of a drop in the share price of the crypto exchange provider. … Read more
[ad_1] Wells Fargo on Wednesday reported second quarter earnings and revenue that exceeded Wall Street expectations as it continued to unlock funds it had set aside during the Covid-19 pandemic to protect against losses generalized loans. The bank’s shares rose 0.5% in pre-market trading after the results were announced. Here’s how the second quarter compared … Read more
[ad_1] Realtors Rosa Arrigo, center, and Elisa Rosen, right, host an open house in West Hempstead, New York on April 18, 2021. Newsday LLC | News day | Getty Images The owners saw an opportunity last week and grabbed it. A sudden and unexpected drop in mortgage rates sent borrowers to their lenders in droves, … Read more