Bank of America tops estimates on better than expected investment banking, interest income

On the Banks of the Nile in Uganda, a Major-League Dream Begins

The East African nation might seem like a surprising place for baseball talent to blossom. But for Armstrong Muhoozi, it’s just the start of his journey.

The New York Times - 2h

Target says its holiday sales were better than expected — but its profits weren't

The big-box retailer's report indicates that deals and promotional events motivated shoppers.

CNBC - 2h

Bank of America tops estimates on better-than-expected investment banking, interest income

The company said fourth-quarter profit more than doubled to $6.67 billion, or 82 cents per share, from a year earlier.

CNBC - 4h

Bank of America profits boosted by loan growth and robust trading

Strong results echo other big Wall Street banks

Financial Times - 4h

Everything to Know About Big Banks Earnings

Goldman Sachs, JPMorgan, Wells Fargo and other firms are expected to report strong earnings.

Inc. - 1d

Bank of America sees revenue rise across the board in upbeat sign for year ahead

Bank of America CEO Brian Moynihan said the bank turned in a “strong” fourth quarter.

MarketWatch - 2h

Morgan Stanley tops estimates on strong equities and fixed income trading revenue

The bank's massive wealth management business will be helped by high stock market values in the fourth quarter, which inflates the management fees it collects.

CNBC - 5h

Citigroup swings to fourth-quarter profit, tops estimates on investment banking strength

The fourth-quarter report comes after a year where Citi's stock rose almost 37%, outperforming the S&P 500.

CNBC - 22h

Goldman Sachs shares rise after topping estimates on strong trading results

Goldman's fourth-quarter results will give investors a preview of what to expect this year, as investment banking and trading fees are both expected to rise.

CNBC - 1d

Rubio: ‘Top priority’ of State Department will be US interests

Politico - 1d

These two bank stocks stand out for improvement in 2025

Bank stocks had a wonderful 2024. A lighter regulatory burden and better interest-rate environment might set up another year of gains.

MarketWatch - 2d

Fintech IPOs return with precious little credit in the bank

Hope still wins out over experience as financial disrupters seek to ride the latest wave

Financial Times - 5d

Stock market plunges after better-than-expected December jobs report

The Labor Department reported Friday that 265,000 jobs were added to the U.S. economy in December, which was roughly 100,000 more than expected. The unemployment rate also fell to 4.1%. CBS News ...

CBS News - 5d

Delta outlook tops estimates as CEO expects 2025 to be airline's 'best financial year in our history'

Delta's CEO said strong travel demand is driving revenue higher.

CNBC - 5d

Lloyds, Halifax and Bank of Scotland to share branches

The move is intended to make it easier for people to access banking services, but some warn it will lead to more branch closures.

BBC News - 6d

Top Fed official says central bank is ‘pretty close’ to meeting twin targets

Kansas City Fed chief Jeff Schmid calls for ‘gradual’ changes in monetary policy

Financial Times - Jan. 9

Are 1-gram or 1-ounce gold bars better to invest in now?

Both 1-gram and 1-ounce gold bars can be a smart investment, but one may be the better option in today's market.

CBS News - Jan. 9

U.S. companies will need to increase their hedges against a stronger dollar in 2025, says Bank of America

A surging buck can crimp multinational’s profits

MarketWatch - Jan. 9

Wait, how many banks were run in 2023?

More than you’d think!

Financial Times - Jan. 8

Bank of England to relax rules for banks and insurers

PRA’s Sam Woods says burden can be eased without ‘race to the bottom’ on financial regulation

Financial Times - Jan. 8

Samsung Expects Further Profit Growth Slowdown, Missing Estimates

The world’s largest maker of memory chips and smartphones said sluggish demand for conventional chips used in personal computers and mobile phones weighed on its memory business for the quarter.

The Wall Street Journal - Jan. 7

Bank of America’s stock could go up 20% in 2025, says this analyst

UBS’s Erika Najarian upgrades Bank of America to buy from neutral

MarketWatch - Jan. 7

Israeli airstrike targets armed group in West Bank

Yahoo News - Jan. 7

Why bank stocks care that Michael Barr is stepping down as top Fed banking cop

As vice chair of supervision, Barr was leading the effort to raise capital requirements for banks.

MarketWatch - Jan. 6

Fed’s top bank cop to step down, averting potential clash with Trump

Politico - Jan. 6

Putin orders Russia's top bank to team up with China in AI push to challenge Western tech dominance

Yahoo News - Jan. 6

Investment banks prepare for crunch year in 2025

Boutiques counting on M&A rebound to support elevated valuations and star hires

Financial Times - Jan. 6

FirstFT: China’s central bank prepares for historic monetary policy shift

Also in today’s newsletter, cold winter snap stokes US heating prices and a shake-up at the top of Meta

Financial Times - Jan. 3

Help! Ryanair Won’t Send Flight Compensation to a U.S. Bank Account

After being grounded for 12 hours in Berlin, a mother and daughter were owed both compensation and a rebooked flight. All they got were nonsensical responses from customer service.

The New York Times - Jan. 3

China’s central bank plans policy overhaul as pressure mounts on economy

People’s Bank of China will start to behave more like US Fed in using one main interest rate to steer demand for credit

Financial Times - Jan. 3

Why you should open a CD with an online bank this January

Most banks and credit unions offer CDs, but opening one with an online bank could make a lot of sense right now.

CBS News - Jan. 2

Palestinian Authority Bans Al Jazeera in West Bank

The ban comes as the PA battles militants from Hamas and its allies for control over parts of the West Bank, a fight that could shape the struggle for leadership of the Palestinian cause.

The Wall Street Journal - Jan. 2

Palestinian Authority suspends Al Jazeera TV channel in West Bank

The Foreign Press Association has said the move "raises serious questions about press freedom".

BBC News - Jan. 2

The Palestinian Authority Takes on Hamas Militants in West Bank Power Struggle

Weeks of deadly fighting have marked the most serious clashes between Palestinian factions in years.