Big U.S. banks are under pressure again, as policymakers around the globe have d...
NEW YORK - Big U.S. banks are under pressure again, as policymakers around the globe have dashed any hopes that the industry might finally be able to earn more money on loans, after more than a decade of rock-bottom interest rates.
The changes have stung major lenders, whose executives have long complained about the impact of low rates on lending income. Bank stocks led a decline in major U.S. indexes on Wednesday, with blue-chip lenders JPMorgan Chase & Co, Bank of America Corp, Citigroup Inc, Wells Fargo & Co and Morgan Stanley all down 3% to 4%. Goldman Sachs Group Inc was down 1.7%.
“They are in a better shape to deal with lower rates,” said David Hendler, founder of research firm Viola Risk Advisors.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
India isolates Kashmir by shutting down communications as big change announcedIndia's imposition of an unprecedented communications blackout on Jammu and...
Read more »
Chance the Rapper Debuts 3 Songs From New Album 'The Big Day' on Hot 100As Chance the Rapper celebrates his highest-charting album on the Billboard 200 (dated Aug. 10), with The Big Day launching at No. 2 with 108,000 equivalent album units, according to Nielsen Music, the rapper sends three tracks from the set onto the Billboard Hot 100.
Read more »
Social Media’s Most Valuable Athletes: Ronaldo, McGregor And LeBron Score BigFourteen athletes generated at least 100 million interactions in 2019 on their social channels. It is big business for sports stars who use their platforms to fuel endorsement deals and promote their own businesses.
Read more »
Big Tech lost $162 billion in value in Monday's market route, led by plunge in AppleIn the stock market's worst day of 2019, the biggest tech companies got hammered, losing more than $160 billion in combined market cap.
Read more »
Chinese rideshare giant Didi Chuxing makes big move in driverless car raceChinese rideshare Didi Chuxing is spinning off its autonomous driving unit as a separate company. The decision comes at a time of dimmed forecasts for adoption of autonomous vehicles, and investor demands for a clear path to profitability for companies like Didi, Grab and Uber.
Read more »
Big U.S. investors use summer sell-off to ramp up betsThe summer sell-off is finally here - and not all U.S. investors are rattled by ...
Read more »