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  • BREAKING NEWS

BREAKING NEWS

Harvard sues the Trump administration over ban on enrolling foreign students

BRIAN MOYNIHAN


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Vance hails Trump's Fed idea and pushes back against criticism over past words on American families

Read full article: Vance hails Trump's Fed idea and pushes back against criticism over past words on American families

Republican vice presidential nominee JD Vance used a round of news show appearances to disparage the Democratic ticket and promote Donald Trump’s record and second-term plans.

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Bank of America's Q1 profits fall 18% on higher expenses, charge-offs

Read full article: Bank of America's Q1 profits fall 18% on higher expenses, charge-offs

Bank of America said its first-quarter profits fell 18%, as the bank dealt with rising expenses due to the impact of higher interest rates.

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Emhoff will discuss antisemitism and gender equity at World Economic Forum meeting in Switzerland

Read full article: Emhoff will discuss antisemitism and gender equity at World Economic Forum meeting in Switzerland

Vice President Kamala Harris' husband is taking his advocacy against antisemitism, Islamophobia and other forms of hate to the Swiss Alps.

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CEOs of the nation's biggest banks warn that new regulations could harm the economy

Read full article: CEOs of the nation's biggest banks warn that new regulations could harm the economy

The heads of Wall Street’s biggest banks used an appearance on Capitol Hill to plead with senators to stop the Biden administration’s proposed changes to how banks are regulated, warning that the proposals could negatively impact the economy at a time of geopolitical turmoil and inflation.

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Bank of America profits jump 10% but warns of slowing spending by Americans

Read full article: Bank of America profits jump 10% but warns of slowing spending by Americans

Bank of America posted a 10% rise in third quarter profits, helped by higher interest rates that allowed the bank to charge more for loans while keeping the bank’s expenses under control.

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Bank of America profits grow 15%, avoids industry crisis

Read full article: Bank of America profits grow 15%, avoids industry crisis

Bank of America said its profits grew 15% last quarter, the latest of the big banks to do exceptionally well this earnings season as investors and consumers flock to Wall Street for safety after the failure of Silicon Valley Bank and Signature Bank.

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Bank CEOs warn that US economy faces 'daunting' challenges

Read full article: Bank CEOs warn that US economy faces 'daunting' challenges

The CEOs of the nation’s biggest banks have appeared in front of Congress and given a dim view of the U.S. economy, reflecting the financial and economic distress many Americans are facing.

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Rents are starting to come down, but the trend may not hold

Read full article: Rents are starting to come down, but the trend may not hold

Rents are starting to come down after spiking to record levels this past summer, but experts are uncertain if the slowdown will continue.

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BofA CEO: Struggling Americans feel they are in a recession

Read full article: BofA CEO: Struggling Americans feel they are in a recession

The CEO of Bank of America said the recent debate over whether the U.S. economy is technically in a recession or not is missing the point.

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Bank of America's overdraft fees down 90% under new policy

Read full article: Bank of America's overdraft fees down 90% under new policy

Bank of America says the revenue it gets from overdrafts has dropped 90% from a year ago, after the bank reduced overdraft fees to $10 from $35 and eliminated fees for bounced checks.

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Earnings slide ongoing for banks; BofA Q2 profit dips 32%

Read full article: Earnings slide ongoing for banks; BofA Q2 profit dips 32%

Bank of America’s second quarter profits fell by 32% from a year ago, the latest bank to report a decline in profits after a strong 2021.

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How inflation and tangled supply lines are gripping economy

Read full article: How inflation and tangled supply lines are gripping economy

High inflation and tangled supply chains have seeped into nearly every nook of the economy, forcing consumers and businesses to make painful decisions that many of them have never had to contemplate before.

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BofA CEO: Consumers spending at fastest pace he's seen

Read full article: BofA CEO: Consumers spending at fastest pace he's seen

The head of the nation’s second-largest bank said consumers are spending “at a faster rate” than he’s ever seen but he remains concerned about how inflation and supply-chain issues will influence the economy going into the winter.

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Bank CEOs outline pandemic support; senators split on issues

Read full article: Bank CEOs outline pandemic support; senators split on issues

The CEOs of the six biggest U.S. banks have appeared before Congress, eager to lay out their support for struggling consumers and small businesses.

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Bank of America to raise minimum wage to $25/hr by 2025

Read full article: Bank of America to raise minimum wage to $25/hr by 2025

Consumer banking giant Bank of America plans to set the minimum wage for all positions at the company to $25 an hour by 2025, the bank said Tuesday.

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COVID fears grow in Capitol as three lawmakers test positive

Read full article: COVID fears grow in Capitol as three lawmakers test positive

A second Democratic member of the House who was forced to go into lockdown during last weeks violent protest has tested positive for COVID-19. Rep. Pramila Jayapal of Washington says she has tested positive. Those who tested positive were among dozens of lawmakers who were whisked to a secure location when pro-Trump insurrectionists stormed the Capitol on Wednesday. It's not certain where and when lawmakers caught the illness, but the Capitol’s attending physician notified all House lawmakers of possible virus exposure and urged them to be tested. Rep. Bonnie Watson Coleman of New Jersey said Monday that she had tested positive for COVID-19.

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Possible virus exposure for lawmakers sheltering during riot

Read full article: Possible virus exposure for lawmakers sheltering during riot

(AP Photo/Patrick Semansky)WASHINGTON – House lawmakers may have been exposed to someone testing positive for COVID-19 while they sheltered at an undisclosed location during the Capitol siege by a violent mob loyal to President Donald Trump. The Capitol's attending physician notified all lawmakers Sunday of the virus exposure and urged them to be tested. No further details were provided on which person has tested positive for the virus. Some lawmakers and staff were furious after video surfaced of Republican lawmakers not wearing their masks in the room during lockdown. A woman from California was shot to death by Capitol Police and three other people died after medical emergencies during the chaos.

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Bank of America rakes in record profit

Read full article: Bank of America rakes in record profit

Justin Sullivan/Getty Images(CNN) - Bank of America hauled in its fattest profit ever during the second quarter thanks to sturdy spending from households that offset trouble in markets. Bank of America said on Wednesday that its profit jumped 8% during the second quarter to $7.3 billion, marking a record for the lender. For the first six months of 2019, Bank of America hauled in $14.7 billion, also setting a record for the first-half of a year. Global markets profit fell 7% at Bank of America, driven by a 6% decline in sales and trading revenue. Unlike Goldman Sachs, which reported an increase in stock trading revenue, Bank of America suffered a 13% tumble in that area.

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