Banks

Wall Street’s AI Gold Rush: Banks Battle for Top Talent America's largest banks compete for talent not as traders or bankers, but as AI specialists. JPMorgan Chase, Wells Fargo, and Citigroup are aggr...

Bank Branch Closures ContinueBank of America continues its branch consolidation strategy, with branch closures in California, Florida, Oregon, and Tennessee scheduled for March. These actions reflect...

Federal Reserve Pauses Rate CutsThe Federal Reserve has opted to maintain interest rates at 4.25% to 4.5%, citing persistent inflation and a resilient labor market. While inflation has eased slightly,...

Trends in the Banking IndustryThe banking industry is set to undergo a significant transformation driven by the rapid adoption of artificial intelligence (AI). Generative artificial intelligence is be...

Branch Closures and RestructuringTrust Financial, one of the largest banks in the U.S. with $543 billion in assets, announced that it will close about 80 branches, representing 4% of its network, by M...

Stock Market DynamicsThe stock market rally continued, helped by mixed earnings reports from technology companies. Major indices, including the Dow Jones, S&P 500 and Russell 2000, reached record high...

Private sector job growth in October: ADP reports 233,000 new jobsIn October, the private sector saw a notable increase in job numbers: according to ADP, employment rose by 233,000, significantly surp...

Federal Reserve's September 2024 Rate CutIn September 2024, the U.S. Federal Reserve unexpectedly cut interest rates by half a percentage point, reversing its two-year policy of raising rates to fight...

Goldman Sachs Capital RequirementsGoldman Sachs made headlines recently when it successfully appealed the Federal Reserve's stress test requirements, resulting in lower capital requirements. This vict...

Unemployment RateUnemployment claims continued their downward trend in July 2024, signaling a robust and resilient job market. This positive indicator suggests that employers are retaining workers and...

Walgreens Boots Alliance (WBA) shares fell sharply at the end of June 2024Walgreens Boots Alliance (WBA) shares fell in late June, driven by a disappointing fiscal third-quarter report and a lowered f...

Interest Rates Upward TrendThe key factor behind the decline in home buying is the rise in mortgage rates. The average 30-year fixed-rate loan increased to 7.05%, the highest level in a month, after r...

First US Bank Failure of 2024: Republic Bank Acquired by Fulton BankIn April, the FDIC (Federal Deposit Insurance Corporation) facilitated the acquisition of Republic Bank by Fulton Bank after it beca...

Fintech Integration: Credit Ratings Enhanced with Apple Pay Later DataAn important precedent in the financial market: the first credit bureau has started taking into account data from BNPL's Apple Pay...

Inflation cooled slightlyFebruary's Consumer Price Index showed a decline in inflation to 6% year-over-year from January's 6.4%. While this development offers a positive outlook for the economy, it is...

Anticipated Economic Slowdown in 2024Economists generally anticipate slower economic growth in 2024 when compared to 2023, with estimated growth rates ranging from 0.7% to 1.5%. This deceleration in e...

Retail Giants ExpandStarbucks and Dunkin' Donuts, two giants of the coffee industry, are actively seeking expansion opportunities in Singapore as part of their broad plans to tap into the growing Asia...

Stock MarketNovember witnessed a robust stock market rally, with all three major indices notching substantial gains. The Dow Jones Industrial Average surged by 6.9%, the S&P 500 climbed an impressive...

The unemployment rate in the US fell to 3.4% in October 2023The U.S. unemployment rate has reached a historic low, falling to 3.4% in October 2023, the lowest rate since 1969. This achievement is indi...

The US economy added 132,000 jobs in August, the slowest pace of job growth since AprilIn August, the US economy added 132,000 jobs, marking the slowest pace of job growth since April. This uptick in...

Goldman Sachs and its big lossesThe bank reported a lower-than-expected second-quarter profit as it took losses on its acquisition of fintech lender GreenSky and its involvement in a troubled real est...

The U.S. financial landscape has witnessed a number of significant events that have changed the economy and impacted various sectors. From policy changes to market trends, here are some notable highli...

Financial news covers the latest developments and trends in the world of business, economy, and finance. Whether you are an investor or a curious reader, our financial news can help you stay informed...

The financial world is changing, affecting banks, lenders, startups, and other financial institutions. These changes will lead to various collaborations, cooperations, or even bankruptcy. We have pre...

The largest banks in the United States are private commercial enterprises servicing U.S. businesses and a substantial share of international transactions. They offer a variety of services but many of...