Low Bank fixed deposit (Bank FD) returns have made them unattractive for most investors. Bank FD interest rates have fallen to the levels as seen in 2004-05. SBI Bank is offering interest rates between 2.9% and 5.4% across different tenures. The current bank FD interest rates are almost at par […]
Banking and Investment
China is snapping up Japanese government bonds, and it’s not just for the returns
China bought 1.46 trillion yen ($13.8 billion) in medium to long-term Japanese government bonds on a net basis between April and July. That was 3.6 times more than the same period last year. In the same period, the U.S. increased its purchases by only 30%, in comparison. Europe, meanwhile, sold […]
Forget a Cash ISA! I think buying UK shares is a better way to get rich and retire early
Savings levels in the UK have just hit an all-time high. Between April and June British households saved around £3 out of every £10 that they earned, according to the Bank of England. But are citizens making the most of their saved cash by buying UK shares? © Provided by […]
Investment bank Faida, UK’s VSA Capital ink deals pact
Faida Investment Bank has partnered with London-based VSA Capital, strengthening its ability to handle cross-border deals. The partnership with the international investment banking and broking firm will enable both to ride on their broad range of advisory skills and knowledge of corporates and investors throughout Africa for the benefit […]
Deutsche Bank’s Riskiest Bonds Get Ratings Upgrade at Fitch
(Bloomberg) — Deutsche Bank AG’s improving capital position has prompted Fitch Ratings Inc. to upgrade its riskiest bonds. Fitch lifted the notes, known as Additional Tier 1s, by one level to BB-, three steps below investment-grade. Risks for holders have reduced due to Deutsche Bank’s “improved capitalization”, according to a […]
The Presidio Group Advises Priority Automotive Group on Sale of Honda Dealership
Press release content from Business Wire. The AP news staff was not involved in its creation. https://apnews.com/press-release/business-wire/business-charlotte-north-america-north-carolina-automobile-dealing-577fe82064be426a8932d3b0d44ebbef Click to copy CHESAPEAKE, Va.–(BUSINESS WIRE)–Oct 13, 2020– The Presidio Group LLC (“Presidio”), a leading investment bank specializing in retail automotive and related M&A transactions, exclusively advised Priority Automotive Group on the sale […]
US STOCKS-S&P, Dow futures ease on J&J vaccine worries; bank, tech stocks shine
(For a live blog on the U.S. stock market, click or type LIVE/ in a news window) * Apple gains ahead of expected new iPhone launch * Amazon rises as two-day ‘Prime’ shopping event gets underway * JPMorgan, Citigroup, BlackRock rise after results * Disney jumps as it turns around […]
First Republic (FRC) Q3 Earnings Beat, Revenues & Costs Rise
First Republic Bank FRC delivered a positive earnings surprise of 16.7% in third-quarter 2020 aided by solid top-line strength. Earnings per share of $1.61 surpassed the Zacks Consensus Estimate of $1.38. Additionally, the bottom line climbed 22.9% from the year-ago quarter. Results were supported by an increase in net interest […]
Who is banking on BNY Mellon, Goldman Sachs and Wells Fargo’s share prices?
BNY Mellon’s [BK] share price, Goldman Sachs’ [GS] share price and Wells Fargo’s [WFC] share price have looked very different in the run-up to third quarter earnings announcements. Of the three US banks, Wells Fargo’s share price is up the most since it reported second quarter figures on 14 July. […]
Top Analyst Raises Price Targets on 4 High Dividend-Paying Bank Stocks
When the market blew up during the great financial crisis of 2007 to 2009, the bank and brokerage stocks were in part ostensibly the reason for the collapse, as they had aided and abetted the mortgage crisis. Two major brokerage firms went out of business, and Merrill Lynch was bought […]
Incentives and challenges of the Central Bank Digital Currency (CBDC)
A Central Bank Digital Currency (CBDC) is a digital form of central bank money as it is backed by a government’s central bank thus it is a direct liability of the central bank. As decentralized digital currencies such as bitcoin have become more popular, the world’s central banks are beginning […]
Bitcoin has a ‘dark forest’ of its own, and it has to do with brainwallets
Using weak seed phrases means instant loss of funds on the Bitcoin network. The concept of a blockchain “dark forest” has been popularized recently by Ethereum and the existence of front-running bots that will copy any profitable transaction pending for submission. The bots are able to assess if any given […]
Fulcrum Energy Capital Funds Announces Acquisition of Natural Gas Assets Out of a Bank Foreclosure Process
DENVER, Oct. 13, 2020 /PRNewswire/ — Fulcrum Energy Capital Funds (“Fulcrum” or “the Firm”) is pleased to announce that the Firm continues to successfully execute on its strategy of acquiring high-quality assets available at attractive valuations in today’s market. By leveraging the Firm’s strong reputation and operational expertise, Fulcrum was able […]
First Mover: Stimulus Winning as Biden Surges in Polls and Bitcoin Eyes $12K
The outcome of next monthâÂÂs U.S. presidential electionàmay not matter much foràbitcoinâÂÂsàprice: Economic stimulus in the trillions of dollars is likely no matter who wins, bolstering the largest cryptocurrencyâÂÂs appeal as a hedge against inflation.àPresident Donald Trump over the past week hasàreversed his oppositionàto a newàgovernment-spending bill following AprilâÂÂs […]
Citi 3Q profit fall 34% but tops Wall Street expectations
CHARLOTTE, N.C. (AP) — Citigroup says profit fell 34% in the third quarter due to weakness in its consumer banking… CHARLOTTE, N.C. (AP) — Citigroup says profit fell 34% in the third quarter due to weakness in its consumer banking division, as the pandemic continues to make it tough for […]
US futures mixed on impressive Q3 bank earnings
US futures are mixed as bank earnings start streaming-in. JP Morgan, the biggest bank in the US by assets, reported a profit of more than $9.44 billion in the third quarter and revenue of more than $29 billion. The revenue was almost a billion dollars more than what analysts polled […]
Dollar trades mixed on US bank holiday
EUR/USD Trades Flat, But Steady Above 1.1800 The euro currency is trading rather muted on Monday. Price action did not make many gains as the US markets are closed on account of Columbus Day bank holiday. On an intraday basis, the euro briefly tested the 1.1800 level. The euro was […]
HSBC is latest bank to pledge net-zero financed emissions by mid-century
HSBC has become the latest bank to commit to achieving net-zero financed emissions, announcing Monday that it intends to align its portfolio of investments and debt financing with global climate targets by mid-century. The bank, currently Europe’s second largest financier of fossil fuels, has committed to reaching net-zero across its […]
First Republic Reports Third Quarter 2020 Results
Revenues Increased 20% Year-Over-Year Net Interest Income Increased 19% Year-Over-Year First Republic Bank (NYSE: FRC) today announced financial results for the quarter ended September 30, 2020. “First Republic’s client-centric business model delivered another quarter of safe, consistent growth,” said Jim Herbert, Founder, Chairman and CEO of First Republic. “Lending, deposits […]
US bank earnings keep sentiment in check
Equities have edged back in early trading, with the FTSE 100 ceding around 20 points, while the pound has rallied despite another rise in the UK unemployment rate. Stock rally pauses for breath. Signs of further economic recovery. Pound moves up as unemployment rate remains muted. The recent run higher […]