Banking

“Bank of America to Lead $500 Million Debt Swap for Gabon”

“…Banks in Europe and the US are vying to play a role in structuring and arranging new debt-for-nature swaps, deals that yield fees and boost their profile in the sustainable debt market. Developing countries with valuable ecosystems are turning to… Continue Reading…

Banking, Economy

“Plummeting bank stocks test predictions that worst of the crisis is over”

“Federal Reserve Chair Jerome Powell said Wednesday that the seizure of First Republic was “an important step toward drawing a line under” turmoil in the banking system. Within two hours the stock of another troubled regional lender was down more… Continue Reading…

Banking, Economy

“Federal Reserve expected to raise interest rates 0.25%, investors debate next steps”

“The Federal Reserve will kick off its latest two-day policy meeting on Tuesday with officials expected to announce a 0.25% increase in its benchmark interest rate on Wednesday, a move many believe could be the final rate hike of the… Continue Reading…

Banking, Economy

“JPMorgan Chase takes over First Republic after U.S. seizure of ailing bank”

“Regulators took possession of First Republic on Monday, resulting in the third failure of an American bank since March, after a last-ditch effort to persuade rival lenders to keep the ailing bank afloat failed. JPMorgan Chase , already the largest… Continue Reading…

Banking

[Banking] “First Republic’s dramatic slide continues, stock falls 35% as bank looks for rescue deal”

“First Republic ’s stock sank again on Wednesday as investors kept an eye on a potential rescue deal for the troubled regional bank. Shares were down more than 35% in morning trading, extending losses of nearly 50% on Tuesday. The… Continue Reading…

Banking, Business

“Bank of America’s Earnings Top Expectations. Profit Climbs 15%.”

“Bank of America BAC +2.88% ‘s first-quarter earnings topped expectations, continuing a trend at peer banks earlier this month. The bank’s profit rose 15% to $8.2 billion, or 94 cents a share, topping expectations that it would earn 81 cents… Continue Reading…

Banking

“Frank founder criminally charged with fraud over $175 million JPMorgan deal”

“The Justice Department on Tuesday criminally charged Charlie Javice, founder of college financial planning platform Frank, with defrauding JPMorgan Chase out of $175 million.  Javice, 31, is accused of “falsely and dramatically” inflating the number of customers Frank actually had… Continue Reading…

Banking

“‘I am truly sorry’: Credit Suisse chair pleads with angry shareholders at annual meeting”

“Credit Suisse Chairman Axel Lehmann on Tuesday told shareholders he was “truly sorry” for the collapse that led to the bank’s controversial takeover by UBS… A police presence was established early Tuesday at the venue, as protesters and shareholders began… Continue Reading…

Banking

“Credit Suisse whistleblowers say Swiss bank has been helping wealthy Americans dodge U.S. taxes for years”

“Credit Suisse, the collapsed Swiss bank taken over by UBS Group in a hastily arranged bailout earlier this month, may bring with it a fresh set of regulatory and legal problems for its new owner. For years, the bank has… Continue Reading…

Banking

“Banks in Distress: Is My Money Safe”

“In less than a week, the U.S. banking system has suffered two of the largest collapses in American history. Regulators shut down Silicon Valley Bank on Friday after customers rushed to withdraw their money as fears rose about the bank’s… Continue Reading…