Columbus, OH

JPMorgan Chase, Bank of America and Wells Fargo have reportedly agreed to testify at a US Senate hearing over hundreds of millions of dollars in fraud on the payments network Zelle. Executives involved in the banks’ payment operations are expected to appear on July 23rd, reports Politico, citing sources who...

JPMorgan Chase, Bank of America and Wells Fargo To Testify After Allegedly Refusing To Reimburse $115,000,000 To Customers on Zelle: Report

(Reuters) - U.S. banks have reaped a windfall from higher interest payments on loans, but commentary from some top executives suggests they could face an uncertain path ahead. Waning demand from borrowers and slowing consumer spending could weigh on bank earnings in the coming months. Here are some comments from...

US Bank Executives Discuss Consumer Outlook

Business Times

Bank of America (BAC) has reported better-than-expected second-quarter revenue and profit, buoyed by a significant rise in investment banking and asset management fees. Despite facing challenges from higher interest rates affecting its consumer operations, the bank managed to leverage its Wall Street operations to deliver solid financial results.

Bank of America Exceeds Q2 Expectations Amid Investment Banking Gains

Reuters

NEW YORK (Reuters) - The biggest U.S. bank wants to get even bigger. JPMorgan Chase has set an ambitious goal of attracting 15% of the country's consumer deposits, Marianne Lake, its CEO of consumer and community banking, told Reuters in an interview at the company's New York headquarters.

JPMorgan aims to amass 15% of US consumer deposits, boost credit card share

Bank of America is directing $4 billion toward new technologies this year, including enhancements of its artificial intelligence tools for both clients and advisors, chief executive Brian Moynihan said Tuesday. Suggested Reading. “AI has moved from cost savings ideas to enhancing the quality of our customer interactions,” Moynihan said in...

Bank of America plans to spend $4 billion on AI and other new tech this year

Geopolitical tensions took center stage on Wall Street Wednesday after U.S. presidential candidate Donald Trump expressed reservations about defending Taiwan, sending ripples through the financial markets. The chipmaking sector bore the brunt of the fallout, with shares of major players tumbling and investors seeking refuge in safer assets like gold.

Trump's Taiwan Remarks Shake Wall Street; Chip Stocks Plunge Amid Geopolitical Concerns

Indiana State

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Franklin, IN

NewsByJoshua

A wave of closures is hitting Pizza Hut, a pizza chain known for its iconic slanted-roof buildings, with 6,775 locations feeling the pinch in the tough restaurant industry landscape.

A well-known pizza chain with over 6K locations has begun closing some of its stores

Fox Business

A new analyst note from BCA Research suggests the S&P 500 could slide as much as 30% within the next year as the U.S. economy enters a deep recession.

Stocks could fall 30% as US heads for a deep recession, analyst warns

In 2023, Google and Microsoft each consumed 24 TWh of electricity, surpassing the consumption levels of over 100 countries, according to new research. Analysis by Michael Thomas shared on X, indicates that both tech giants used the same amount of energy as Azerbaijan, which has a GDP of $78.7 billion. Google’s revenue for the year was $307.4 billion, while Microsoft’s stood at $211.9 billion.

Energy Consumption of Google and Microsoft Rivals Nations

NEW YORK (Reuters) - PepsiCo CEO Ramon Laguarta said Thursday there is "much more price sensitivity" across U.S. income groups and not just low-income consumers, highlighting its sensitivity to broad shifts in consumer demand.

PepsiCo feels squeeze as financial pressure spreads from low-income consumers

Chicago, IL

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Foodie in Chicago

Shortly before 3 AM, people in the Chicago area may have felt their houses shake as a 3.4-magnitude earthquake occurred about 60 miles west of the city. (CHICAGO) The United States Geological Survey (USGS) reported a 3.4-magnitude earthquake around Somonauk, IL. Somonauk is in DeKalb and LaSalle Counties, 64 miles west of Chicago.

Did You Feel the Earthquake?

Business Insider

The M&A drought that's kept investment bankers on the sidelines is on its last legs, according to Wall Street's top dealmaker.

Goldman Sachs CEO David Solomon is predicting the long-awaited return of MA

Recent Federal Reserve data reveals that a net worth of at least $3,795,000 places you in the top 5% of U.S. households. While this figure is impressive, it pales in comparison to the wealth held by the ultra-affluent. Wealth Breakdown. Top 1% Echelon:. To join the top 1%, a net...

How Rich You Have to Be to Join the Top 1%, 5%, and 10% of U.S. Households

The Motley Fool

Amazon, Walmart, and IBM could outperform many of the other Dow stocks.

These 3 Dow Stocks Are Set to Soar in 2024 and Beyond

Reality is beginning to settle in for three of the largest U.S. banks, at least according to their second-quarter results. While some of the truths reflected in earnings reports at JPMorgan Chase, Citigroup, and Wells Fargo gave the banks — and their investors — reason to rest easy, some potential storm clouds are still visible in the distance.

Wells Fargo, Citi, and JPMorgan reported earnings. Here's what to know

Markets Insider

A Trump election victory could trigger a policy shock to the economy, as his immigration and tariff plans are an "elixir for stagflation."

Trump's trade and immigration policies are an 'elixir for stagflation' that could tip the US into recession, JPMorgan strategy chief says

The Shy Green

Here's a story that's hitting close to home for those of us who geek out over gadgets and cutting-edge tech. Shapeways, once a shining star in the 3D printing world, has just hit a major roadblock—they've filed for Chapter 7 bankruptcy. That's right, they're not just reorganizing; they're closing up shop for good and liquidating everything they've got.

A tech giant filed for Chapter 7 bankruptcy and shut down abruptly

Cross-border payments are gaining significance in international economies. According to the 2024 Financial Services Consumer Survey by GlobalData, around 63% of global consumers use international real-time payments (RTPs) to send money to family and friends, while 51% use them to pay for goods and services. The G20 has laid out...

The Growing Importance of Cross-Border Payments in Global Economies

GOBankingRates

Let's get the disclaimer out of the way right up front -- there is no portfolio of stocks that is the right match for every single person that's a member of Generation Z. This is because every person...

6 Stocks That Gen Z Should Invest In

The S&P 500's record-setting rally this year has sparked a wave of price target increases from Wall Street. The most bullish S&P 500 price target is 6,000 from Evercore ISI, which represents a gain of about 7%. Key bullish drivers includes AI benefits, consumer resilience, and imminent Fed rate cuts.

Wall Street is bullish on stocks for the 2nd half of the year. Here are each firm's exact forecasts.

NewsBreak

Mixed Economic Signals from Top Bank Executives

Leading executives from JPMorgan Chase, Bank of America, Wells Fargo, Citigroup, and PNC Financial Services express varied views on the economy, highlighting both potential risks and...

Mixed Economic Signals from Top Bank Executives

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