NEW YORK Top U.S. banks must make deeper cost cuts to drive earnings growth, with revenue expected to remain under pressure for the foreseeable future, analysts said.
Bank of America Corp forecast that net interest income would rise half as fast this year after reporting first-quarter revenue on Tuesday that fell short of expectations.
NEW YORK JPMorgan Chase & Co's better-than-expected first-quarter earnings raised expectations that rival Wall Street lenders would follow suit when they report next week, pushing most bank stocks higher on Friday.
NEW YORK Deutsche Bank said it was open to further restructuring of its U.S. investment bank after Commerzbank executives sought clarity on its plans during merger talks, according to three sources familiar with the matter.
NEW YORK, April 5 Deutsche Bank said
it was open to further restructuring of its U.S. investment bank
after Commerzbank executives sought clarity on its
plans during merger talks, according to three sources familiar
with the matter.
Deutsche Bank AG's merger talks with Commerzbank AG have put its 10,000 U.S. workers on edge, three employees told Reuters, with some concerned a deal could pressure Deutsche to further shrink or even dispose of its U.S. businesses.
TORONTO Toronto-Dominion Bank and Canadian Imperial Bank of Commerce, two of Canada's biggest lenders, reported first-quarter earnings on Thursday that fell short of analysts' forecasts, hurt by weakness in their capital markets businesses.
TORONTO The financial services regulator in Canada's biggest province failed to make planned checks on mortgage brokers it had identified as risky because its resources were stretched, according to documents obtained by Reuters under freedom of information laws and information provided by the regulator.
TORONTO Thomson Reuters reported better-than-expected earnings on Tuesday, helping push its shares to a record high, and said it is continuing to look for acquisitions to bolster its Legal and Tax & Accounting units, where demand is up in part because of U.S. tax reforms.