Loyalty, premium will make up 80% of revenue

A Boeing 737 passenger aircraft of American Airlines arrives from Austin at JFK International Airport in New York as the Manhattan skyline looms in the background on February 7, 2024. Charly Triballeau | Afp | Getty Images American Airlines said Monday that 80% of its revenue this year will come from loyalty program members and … Read more

Wall Street worries about NYCB’s loan losses and deposit levels

A sign is pictured above a branch of the New York Community Bank in Yonkers, New York, U.S., January 31, 2024. Mike Segar | Reuters Regional lender New York Community Bank finds itself in an apparently worsening predicament just as the anniversary of last year’s banking turmoil nears. Shares of the troubled lender plunged 25% on … Read more

Bullish on DLF, L&T, Maruti Suzuki and RIL from Indian equities: Jonathan Garner

“Japan is a very strong story and it trades only about fourteen-and-a-half times one year forward PE,” says Jonathan Garner, Morgan Stanley.So, are you saying we should expect only, let us say, mid-single digit kind of realistic return expectation from the Indian markets as well?That is the base case. As I mentioned, the bull case … Read more

World’s largest hedge funds record bumper year of profits

Signage for Citadel Investment Group LLC hangs outside their office in Chicago, Illinois, U.S. Bloomberg | Getty Images The world’s top hedge funds raked in record profits last year amid a resurgence in stock markets, new analysis showed. The 20 leading fund managers made $67 billion in investor profits in 2023, up from the $65 … Read more

Biden administration unveils proposed changes to big banks’ overdraft fees

The Consumer Financial Protection Bureau headquarters in Washington. Samuel Corum/Bloomberg via Getty Images WASHINGTON — The Consumer Financial Protection Bureau on Wednesday unveiled long-awaited changes to how the nation’s biggest banks structure overdraft protection plans. The independent watchdog agency said the new rule closes a loophole that for decades has exempted overdraft loans from the … Read more

Morgan Stanley earnings Q4 2023

The Morgan Stanley headquarters is seen in New York City on Jan. 17, 2023. Michael M. Santiago | Getty Images Morgan Stanley on Tuesday reported fourth-quarter revenue that surpassed expectations, boosted by the strength in investment banking. Here’s how the bank did compared with Wall Street expectations: Earnings per share: 85 cents, may not compare … Read more

UK and Switzerland to sign post-Brexit financial services deal

The U.K. and Switzerland are deepening the ties between their financial services sectors with a new post-Brexit deal. Sopa Images | Lightrocket | Getty Images LONDON — The U.K. and Switzerland on Thursday will sign a post-Brexit financial services deal designed to bring two of Europe’s largest banking centers closer together. British Finance Minister Jeremy … Read more