The San Francisco lender has been using its hefty balance sheet to diversify its business as it braces for a rise in interest rates to cut into demand for home loans. It is unclear when the U.S. Federal Reserve will hike interest rates, but Fed Chair Janet Yellen recently said she supports raising rates this year.
Wal-Mart CEO Doug McMillon said Wednesday the company’s investments in its associates, stores, and e-commerce paying off.
BofA has been slashing billions of dollars in costs in its commercial lending, investment banking and wealth management businesses as overnight fund rates remain near zero and worries about China’s economy and uncertainty over the timing of a U.S. rate hike prevent traders from making big bets. Consumer banking was BofA’s only business to report a rise in revenue as the lender restructured its branch network, grew active accounts and
Ben Bernanke, who as Federal Reserve chairman steered the United States through its worst financial crisis in modern times, said on Tuesday that ballooning U.S. student loans do not pose the same threat to the financial system as housing loans did. “The student loan situation is a risk, but a different kind of risk,” Bernanke said, when asked how dangerous the roughly $1.2 trillion in student loan debt is. Student
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As millennials and baby boomers flock to urban cores, embracing shared cars and bicycles, the discount for living farther away is growing.
The U.S. conglomerate has now inked $126 billion in transactions — more than half of its overall target — since announcing in April it would seek to reduce its GE Capital financing business to less than 10 percent of earnings as it focuses more on industrial manufacturing. GE Capital accounted for 42 percent of the company’s profit in 2014. Only one remaining significant GE Capital business in the United States
Emerging markets aren’t just suffering through another market rout—it’s a third wave of the financial crisis, Goldman said.
PepsiCo Inc and Coca-Cola Co are in talks to invest in Chobani LLC, in a deal that the Greek yogurt maker hopes could value it at as much $3 billion, including debt, according to people familiar with the matter. Chobani is exploring selling a minority stake, including warrants owned by private equity firm TPG Capital LP that account for between 10 percent and 20 percent of the yogurt maker’s equity