Business, Economy And Personal Finance News
“We’re the new outfit in British banking that nobody has heard of,” says Phillip Monks, Aldermore’s chief executive. Then he leans back in his chair and roars with laughter. “In this banking environment that’s a bloody good thing because these days people usually hear about banks for the all the wrong reasons: the credit crunch, [...]
U.S. banks have been in an uproar for months over one provision of last year’s Dodd-Frank financial reforms limiting the fees imposed on debit card transactions. Their arguments won a major victory yesterday, as Reuters reports that the Federal Reserve decided to reduce the limitations in its final proposal. The Durbin amendment to the Dodd-Frank [...]
NEW YORK – Bank of America Corp., the biggest U.S. bank, agreed to pay $8.5 billion to resolve claims over soured mortgages after bondholders including BlackRock Inc. demanded refunds. The company rose as much as 6.7 percent in New York trading. The settlement will contribute to a second-quarter loss of $8.6 billion to $9.1 billion, [...]
Our view: Sell Share price: 761.5p (+15p) Few companies can boast a name as grand as the Eurasian Natural Resources Corporation. Better known as ENRC, the unabbreviated version brings to mind some giant of the corporate world – and indeed, the company fits the bill, commanding a market value of nearly 10bn, with more than [...]
Nearly a year since floating – and almost a decade after it was founded – if City scribblers’ calculations are proved correct, Ocado should announce its first net profit today. The online grocer is revealing its first-half figures, with few surprises expected given that it last updated the market in May. Bank of America Merrill [...]
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