BofA Revenue Misses Estimates as Bond Trading Ebbs at Year-End
Bank of America Corp. posted fourth-quarter revenue that missed analysts’ estimates as a 12 percent increase in bond trading fell short of predictions. Profit surged as Chief Executive Officer Brian Moynihan cut expenses.“Things tapered off at the end of the year,” Chief Financial Officer Paul Donofrio said Friday in a conference call with journalists. Fixed-income trading “did very well in the first two months of the quarter,” he said.Moynihan, 57, has been cutting costs for years while conte..>> view originalGeorge Soros Reportedly Lost $1 Billion After Donald Trump's Big Win
While stock markets soared to new highs following Donald Trump's election, billionaire investors George Soros lost close to a billion dollars as a result of that rally.That's according to people familiar with the matter interviewed by The Wall Street Journal.Soros, who made $1 billion by betting on the British pound's devaluation in 1992, reportedly thought markets would fall immediately following Trump's surprise November win.Soros had supported then-Democratic presidential candidate Hillary Cl..>> view originalFive Ways To Defy Debt Collectors
Debt collectors can be as aggressive as mad dogs. They just won't leave you alone and keep coming back. They may even harass you for debts you don't owe. You can fight back because you have rights under the federal Fair Debt Collection Practices Act. You don't have to suffer abuse just because you owe money. Debt collection practices are the top complaint with watchdog agencies like the Consumer Financial Protection Bureau (CFPB). According to Richard Cordray, executive director of the CFPB, who..>> view originalWells Fargo Profit Falls 5.4% as Mortgage Revenue Declines
Wells Fargo & Co., which lost its status as the world’s most valuable lender after a scandal in its retail bank, said profit dropped 5.4 percent as revenue from its mortgage business declined.Net income fell to $5.27 billion, or 96 cents a share, from $5.58 billion, or $1, a year earlier, the San Francisco-based company said Friday in a statement. The average estimate of 29 analysts surveyed by Bloomberg was for adjusted profit of $1 a share. Results included a 7-cent cost tied to ineffective h..>> view originalGreater consumer confidence lifts retail sales; producer prices up on gas, food
Christopher S. Rugaber, The Associated Press 8:52 a.m. ET Jan. 13, 2017 Shoppers at the Lenox Square Mall in Atlanta.(Photo: Erik S. Lesser, EPA)WASHINGTON - Americans stepped up their auto buying and holiday shopping in December, reflecting a boost in confidence after the election and a solid increase in hourly pay.The Commerce Department says retail sales rose a seasonally adjusted 0.6%, following a small 0.2% gain in November.Auto sales jumped 2.4% in Decembe..>> view originalMillennials are falling behind their boomer parents
Not so for her. Ledesma graduated from college four years ago. After moving through a series of jobs, she now earns $18,000 making pizza at Classic Slice in Milwaukee, shares a two-bedroom apartment with her boyfriend and has $33,000 in student debt. "That's not at all how life is now, that's not something that people strive for and it's not something that is even attainable, and I thought it would be at this point," Ledesma said. Her mother Cheryl Romanowski, 55, was making about $10,0..>> view originalIn SpiceJet deal, Boeing scores a $22 billion win in market dominated by Airbus
Boeing won a $22 billion deal from an Indian budget carrier, pulling off a feat in a single-aisle market ruled by its European rival Airbus.SpiceJet plans to buy 155 planes, of which 55 were carried over from old orders after renegotiations, the airline based in Gurgaon near New Delhi said in a statement on Friday. It also has options for 50 more, including wide-body aircraft. The commitment, the largest ever for Boeing from an Indian airline, comes at a time when both the Chicago-based planem..>> view originalCars, Gasoline Lifted US Retail Sales 0.6% in December
WASHINGTON—Americans boosted spending on cars and gasoline in December, causing overall retail sales to climb quickly despite consumer cutbacks in other areas. Retail and restaurant sales rose a seasonally adjusted 0.6% in December from a month earlier, driven by a surge in auto sales, the Commerce Department said Friday. Sales at retailers outside of autos grew 0.2% last month. And sales at retailers excluding car dealerships and...>> view originalJPMorgan Chase Q4 Profit Rises; Results Top Estimates
Shutterstock photo (RTTNews.com) - JPMorgan Chase & Co. ( JPM ) reported a profit for the fourth-quarter that grew 24 percent from last year reflecting higher bond-trading revenue. Quarterly revenue rose 2 percent. The latest-quarter results included a tax benefit of $475 million related to the utilization of certain deferred tax assets. Both earnings per share and revenue for the quarter Topped analysts' expectations. Jamie Dimon, Chairman and CEO, said, "Our results this quarter were a..>> view originalRenault targeted in new 'dieselgate' scandal
Paris (AFP) - A year and a half after Volkswagen's "dieselgate" erupted, Paris prosecutors are probing Renault over possible "cheating" in diesel emissions, sending the carmaker's shares sliding on the stock exchange.While VW is still counting the cost of an unprecedented emissions scandal that shook not only the auto sector, but the whole of German industry to the core, similar allegations are now being levied against other carmakers, notably Italian-American giant Fiat Chrysler and France's Re..>> view original
Thursday, February 23, 2017
BofA Revenue Misses Estimates as Bond Trading Ebbs at Year-End and other top stories.
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