NEW YORK (Reuters) – Apple Inc is seeking to attract U.S. savers with a new high-yield deposit account it announced on Monday with partner Goldman Sachs Group Inc amid increased competition amon[...]
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US financial institutions hit by deposit flight as clients seek higher returns
(Reuters) -Deposits at three financial institutions fell in the first quarter as the industry’s biggest crisis in more than a decade prompted a flight of funds, with customers seeking better ret[...]
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State Street profit misses on lower fee income; shares fall
(Reuters) – State Street Corp reported a first-quarter profit on Monday that missed analysts’ estimates, hurt by a fall in fee income due to the recent U.S. banking crisis, sending the com[...]
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M&T Bank Corp beats profit estimates as interest income doubles
(Reuters) – M&T Bank Corp beat Wall Street estimates for first-quarter profit on Monday, as the U.S. Federal Reserve’s rapid rate hikes to tame high inflation boosted the lender’[...]
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Ferrari fever? Classic cars roar into investment funds
By Valentina Za and Giulio Piovaccari MILAN (Reuters) – In 1977, a Ferrari owner offloaded his 1962 250 GTO because his wife complained it was too noisy, recounts Andrea Modena, head of Ferrari[...]
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Bigger banks rise while regionals slump as Q1 earnings season kicks off
By Sinéad Carew and Saqib Iqbal Ahmed (Reuters) – Shares in U.S. banks were a mixed bag on Friday with JPMorgan Chase soaring 7.0% after its quarterly report impressed investors while PNC Financ[...]
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JPMorgan surpasses Wall St forecasts, winning business as crisis roils industry
By Niket Nishant and Nupur Anand (Reuters) -JPMorgan Chase & Co beat Wall Street’s estimates for quarterly profit and raised its outlook for interest income on Friday, emerging as one of the bigge[...]
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PNC Financial beats profit estimates on boost from higher interest rates
(Reuters) – PNC Financial Services Group reported an 18.5% rise in first-quarter profit on Friday, as the Federal Reserve’s rate hikes fueled a surge in the U.S. regional lender’s ne[...]
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Investors put $538 billion into cash funds over eight weeks – BofA
By Harry Robertson LONDON (Reuters) – Investors have moved $538 billion into cash funds over the past eight weeks as they pulled money out of bank deposits after the collapse of Silicon Valley B[...]
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