Bank of America Q2 profits plummeted
Bank of America Q2 profits plummeted due mainly to a rise in legal costs and a decline in mortgage income. Net income fell 43%...
JPMorgan reports Q2 2014 earnings down 8 percent
JPMorgan reports Q2 2014 earnings, which declined by 8% as America’s largest bank (along with most others in the industry) struggles with falling incomes...
UK June inflation increased to 1.9 percent
UK June inflation rose to 1.9% (annualized) compared to 1.5% in May, driven by high increases in the prices of non-alcoholic drinks, food, footwear...
Citigroup mortgage probe settlement worth $7 billion agreed
A Citigroup mortgage probe settlement has been agreed with US authorities. America’s third largest bank will pay a total of $7 billion to various government...
Barclays abolishes bank cashiers
Barclays abolishes bank cashiers, announcing that its 6,500 UK traditional cashiers will become “community bankers” and will receive a wage hike of 2.8% to...
Wells Fargo net income rises in second quarter
Is a Wells Fargo net income rise a reflection of better banking figures? Being the first major bank to post results for the second...
Burberry investor revolt
In a Burberry investor revolt, fifty-two percent of shareholders rejected CEO Christopher Bailey’s pay package at the annual general meeting (AGM) in London. The...
Burberry first quarter retail revenues up 9%
Trenchcoat maker Burberry first quarter retail revenues increased by 9% (17% at constant currencies) while same-store sales grew by 12%, compared to Q1 2013....
Amazon bypasses Hachette by offering authors all e-book proceeds
In a move aimed at taking authors out of the current dispute, Amazon bypasses Hachette by offering authors all e-book proceeds. Amazon wrote directly...
Latest AbbVie Shire takeover bid sweetened to $51.3bn
Will the latest (fourth) AbbVie Shire takeover bid worth $51.3 billion (£30.1 billion) do the trick? AbbVie’s share plus cash offer comes to £51.15...