US economy loses steam under Trump
Uncertainty over tariffs is raising inflation expectations, damaging consumer confidence, widening the trade deficit and hampering growth
How the White House is shaking up stock market values
Technology, banking, and oil companies are the biggest beneficiaries of Trump’s policies, in contrast to renewable energy and labor-intensive companies
How a week of fires changed the city of Los Angeles
A tour of the devastated areas reveals the destruction that the Eaton and Palisades blazes left in their wake
Cold without wind: German ‘dunkelflaute’ brings electricity prices to crisis levels and depletes gas reserves
German consumers will pay almost €400 per megawatt hour on Thursday, the highest figure since the end of 2022
The lightbulb of the 21st century: The battery revolution illuminates a new era
Increasingly affordable and more sophisticated, batteries are the key to generating a paradigm shift in global energy and economics
The luxury sector is gearing up for a new earnings season: Here’s what to expect
Experts say that demand from China and the brands’ reception there will set the course for listed companies
The payment of more interest on deposits hurts the bottom line of large US banks
The profit of the six main entities falls 3% in the first quarter despite the improvement in the investment banking business
Overdraft fees could drop to as low as $3 under new Biden proposal
The change could potentially eliminate billions of dollars in fee revenue for the nation’s biggest banks
Banks prepare to take on the Biden administration over billions of dollars in overdraft fees
The banking industry is gearing up to fight back with a multimillion-dollar marketing and lobbying campaign
Bank profits mostly fall in fourth quarter, but banks remain upbeat on economy and consumer
Citigroup announced it was going to cut 20,000 jobs, roughly 10% of its workforce as part of Citi’s restructuring
CEOs of the nation’s biggest banks warn that new regulations could harm the economy
The bankers are against a number of proposed regulations that could hit their profitability, including new rules from the Federal Reserve that would require big banks to hold additional capital on their balance sheets
Large US banks grow their profits due to rise in interest rates
JPMorgan, Bank of America, Wells Fargo, Citi and Goldman Sachs earn 20% more in the third quarter of the year
BofA hit with $250 million in fines and customer refunds for ‘double-dipping’ fees, fake accounts
Part of the fines and penalties come because Bank of America had a policy of charging customers $35 after the bank declined a transaction
US consumer price growth slowed last month as inflation shows signs of steady decline
Tuesday’s inflation figures arrive just as Federal Reserve officials begin a pivotal two-day meeting, after which they’re expected to leave interest rates alone after imposing 10 straight rate hikes
World Bank offers dim outlook for the global economy in face of higher interest rates
The agency estimates that the international economy will expand just 2.1% in 2023 after growing 3.1% in 2022
Banks are paying savers again after many years of low rates
The Fed has unleashed a rapid series of rate hikes to combat inflation, which has prompted banks to pay higher interest on traditional savings products like money market funds, certificates of deposit and regular savings accounts
Bank of America profits grow 15% despite industry crisis
The nation’s second-largest bank by assets posted a profit of $8.2 billion, up from $7.1 billion in the same period a year earlier
Washington turns to Wall Street to help rescue dying bank
The anxiety this week centered on First Republic Bank in San Francisco, which was once the envy of the banking sector, with its wealthy and well-traveled clientele
Big banks create $30 billion rescue package for First Republic
The effort seeks to stop the California-based bank from becoming the third bank to fail in less than a week. Shares of First Republic had fallen sharply this week, dropping 60% on Monday alone