Bank of America Tops Expectations As Higher Rates Help Offset Declines in Investment Banking
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Is Britain suffering from a ‘sick note culture’?
Rishi Sunak has vowed to get people back to work but data indicates problems with the diagnosis — and proposed solutionFinancial Times - Business - United Kingdom -
Sequoia commits to backing Musk’s xAI start-up
Venture capital firm is among investors that entrepreneur is wooing as he seeks to gain ground on rivalsFinancial Times - Business -
Harvey Weinstein’s rape conviction in New York overturned on appeal
State appeals court found mistakes in prosecution of former film mogul that gave momentum to #MeToo movementFinancial Times - Business - New York -
Nomura profits soar as Japan’s stock market breaks bubble-era record
Investment bank and brokerage boosted by surging stock and fixed-income tradingFinancial Times - Business -
Thoma Bravo to buy UK-listed Darktrace for £4.3bn
Offer comes less than two years after private equity group held talks about buying cyber security companyFinancial Times - Business -
Thoma Bravo to buy UK-listed Darktrace for £4.3bn
Offer comes less than two years after private equity group held talks about buying cyber security companyFinancial Times - Business -
Regulators Seize Troubled Philadelphia Bank, Republic First
The bank had some of the same problems as the ones that failed in 2023.The Wall Street Journal - World -
Regulators Seize Republic First, a Troubled Philadelphia Bank
The relatively small bank, the first to fail this year, will have its deposits assumed by another Pennsylvania lender, Fulton Bank.The New York Times - Business -
America can help Haiti restore order with an in-and-out mission
These difficult U.S. initiatives will buy enough time to provide a platform for the Haitian police and their international partners to regain an ongoing grip on security.The Hill - Politics -
Regulators close Philadelphia-based Republic First Bank, first US bank failure this year
Regulators have closed Republic First Bank, a regional lender operating in Pennsylvania, New Jersey and New YorkABC News - Top stories -
9 top-rated handheld vacuums to shop
The handheld vacuums are powerful, lightweight and effective at cleaning up messes. Shop Bissell, Shark, Dyson, Black+Decker and more.NBC News - Top stories -
Rockford Is Now America's Top Housing Market After an Improbable Turnaround
The Illinois metro area, west of Chicago, was one of nearly a dozen in the Midwest ranking among the top 20.The Wall Street Journal - World -
New-car sales expected to tick higher as inventories, and deals, are on the rise
2024 is shaping up to be the best for new-car sales since 2019.MarketWatch - Business -
Why the Fed keeping rates higher for longer may not be such a bad thing
With the economy humming along and the stock market, despite some recent twists and turns, hanging in there pretty well, it’s a tough case to sell that higher interest rates are having a substantially negative impact on the economy.NBC News - Top stories - Federal Reserve -
Commodity prices could keep inflation high, warns World Bank
Sharp falls in commodities are unlikely to continue, says lender, making it harder for central banks to cut interest ratesFinancial Times - Business -
Barclays shares surge as bank beats forecasts despite drop in profits
Barclays posted a 13% drop in its first quarter profits as lower fee income and a drop in the value of its loans and deposits caused its income to slumpMarketWatch - Business -
Commodity prices could keep inflation high, warns World Bank
Sharp falls in commodities are unlikely to continue, says lender, making it harder for central banks to cut interest ratesFinancial Times - World -
Turkish Central Bank Stays Hawkish Despite Likely Hitting Peak
Turkey’s central bank took a hawkish tone as it held its policy rate at 50%, Liam Peach, senior emerging markets economist at Capital Economics, says.The Wall Street Journal - World - Turkey -
Cannabis banking measure to be left out of FAA bill, industry exec says
Dutchie’s Bryan Barash said he’s disappointed that the SAFER Banking Act won’t be included in FAA funding bill.MarketWatch - Business -
Deutsche Bank braces for €1.3bn hit to profits from Postbank litigation
Court has warned lender it is likely to lose parts of complex lawsuit brought by former shareholders of rivalFinancial Times - Business -
GDP growth slowed to a 1.6% rate in the first quarter, well below expectations
Real GDP was expected to increase 2.4% in the first quarter on a seasonally adjusted basis, according to economists surveyed by Dow Jones.CNBC - Business -
US economy grew less than expected in first quarter at 1.6% rate
Previous indicators of robust growth have set back expectations of Fed rate cuts and wrongfooted marketsFinancial Times - World -
Biden dealt blow as investors scale back bets on pre-election rate cut
Markets no longer fully confident of move by September following new growth and inflation dataFinancial Times - Business - Joe Biden -
AbbVie’s first-quarter results top expectations as arthritis drugs fuel growth
AbbVie on Friday reported first-quarter results that beat expectations even as sales of its blockbuster autoimmune drug Humira continued to fall.MarketWatch - Business -
'Invest in these women': WNBA champion A'ja Wilson hopes Caitlin Clark's popularity helps the league grow
The five-time All-Star and two-time WNBA champion hopes to see the excitement around Clark help grow the league.CNBC - Business - WNBA -
The U.S. fertility rate fell to 1.62 births per woman in 2023, a 2% decline from a year earlier and the lowest rate since the government began tracking it in the 1930s.
The U.S. fertility rate fell to 1.62 births per woman in 2023, a 2% decline from a year earlier and the lowest rate since the government began tracking it in the 1930s.The Wall Street Journal - World -
I earn $120,000 a year and have $165,000 in savings. How do I invest in this high-interest-rate environment?
“My husband and I would like to provide our new baby with the best life we can.”MarketWatch - Business -
Unilever backed its full-year guidance after reporting better-than-expected revenue for the first-quarter on higher volumes.
Unilever backed its full-year guidance after reporting better-than-expected revenue for the first-quarter on higher volumes.The Wall Street Journal - World -
New home sales inch higher despite 7% mortgage rates: 'There's more opportunity,' economist says
Buyers are highly considering newly built homes amid a shortage of available homes in the U.S. Here's what this means and where prices are standing.CNBC - Business -
Bank of Japan could intervene this week to boost the yen as currency hits 34-year low
The Bank of Japan could intervene to support the yen as soon as Friday, possibly in a move coordinated with the Bank of Korea to help maximize its impact, according to Steven Barrow, head of G-10 strategy at Standard Bank.MarketWatch - Business -
Woman, 74, who allegedly robbed bank may have been scam victim, family says
Ann Mayers entered AurGroup Credit Union on April 19 and "demanded money while displaying a handgun," police said.CBS News - Top stories -
JPMorgan Chase is caught in U.S-Russia sanctions war after overseas court orders $440 million seized from bank
The escalation shows how American banks are struggling to navigate American sanctions rules more than two years after Russia's invasion of Ukraine.CNBC - Business -
Barclays shares up 4% as bank swings back to profit in first quarter amid strategic overhaul
Barclays on Thursday reported first-quarter net income of £1.55 billion ($1.93 billion), beating expectations and returning the British lender to profit amid a major strategic overhaul.CNBC - Business -
Oil price could exceed $100 a barrel if Middle East conflict worsens, World Bank warns
Increase in cost of crude could drive inflation up and force central banks to keep interest rates high. • Business live – latest updates. A serious escalation of tensions in the Middle East would push the price of oil above $100 (£80) a barrel and ...The Guardian - World -
Frankie Capan III shoots 58, breaks Scottie Scheffler's record at Veritex Bank Championship on Korn Ferry Tour
Capan had the chance to go even lower at Texas Rangers Golf Club on ThursdayCBS Sports - Sports -
Middle East escalation could trigger oil price shock that fuels inflation, World Bank warns
Oil prices could rise to $102 per barrel if a major conflict in the Middle East breaks out involving one or more oil producers, according to the World Bank.CNBC - Business -
Bears banking on Caleb Williams after taking the 2022 Heisman winner with No. 1 pick in NFL draft
The Chicago Bears did exactly as expected by taking USC star Caleb Williams with the No. 1 pick in the NFL draftABC News - Sports - NFL -
Yen slumps to fresh 34-year low as Bank of Japan stands pat with no sign of intervention
The Japanese yen fell to a fresh 34-year low versus the U.S. dollar after the Bank of Japan left monetary policy unchanged and gave little indication that intervention to support the currency was imminent.MarketWatch - Business -
US won't sanction Israeli units accused of human rights violations in West Bank
The State Department has determined that Israeli units accessed of human rights violations in the West Bank will remain eligible for US aid.ABC News - Top stories - Israel -
Longtime Trump assistant and bank executive each take the stand in hush money trial
Rhona Graff, who said she was testifying pursuant to a subpoena, testified that Trump’s contact list included information for Stormy Daniels and Karen McDougal.NBC News - Top stories - Donald Trump