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The Latest Breaking News on Financial Services

PNC Financial Services (PNC): Analysts Weigh in on Pre-Earnings Signals

PNC Financial Services (PNC) faces obstacles to expansion, marked by job cuts, the departure of a crucial advisor, and a hefty settlement. Considering these challenges, does it appear wise to invest in this stock ahead of its earnings release? Read more to find out.

StockNews.com

Pinnacle Financial Partners (PNFP) and Citizens Financial (CFG) - an Investor's Perspective Ahead of Earnings

Despite recovering from the collapses of three major regional banks that occurred earlier last year, the U.S. banking sector continues to be vulnerable to funding pressure and weak capital levels. Given this backdrop, let’s determine if you should buy or sell bank stocks Pinnacle Financial Partners (PNFP) and Citizens Financial…

StockNews.com

Former chairman of state-owned bank China Everbright Group arrested over suspected corruption

Chinese prosecutors say the former chairman of state-owned Chinese bank China Everbright Group has been arrested on suspicion of corruption and bribery

The Independent UK

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RBI cancels licence of Hiriyur Urban Co-op bank with immediate effect

The Reserve Bank of India cancelled the licence of The Hiriyur Urban Co-operative Bank Ltd in Karnataka

The Hindu

Former Citi VP in Chicago charged with elder fraud

Helen Caldwell, whose actions were spotlighted in an Injustice Watch investigation published by the Sun-Times, is charged with bilking $1.5 million by steering elderly banking clients to invest in her side deals producing slasher movies.

Chicago Sun-Times

US Banks Report Mixed Results, See Consumers As Still Fairly Healthy

Large US banks reported mixed results Friday, dented by exceptional costs connected to job cuts and to replenishing a federal fund tapped during last year's crisis involving midsized lenders.

International Business Times

ED arrests five in ₹56,000-crore bank fraud case against Bhushan Steel

The Enforcement Directorate has arrested five persons in connection with the alleged ₹56,000-crore bank loan fraud committed by Bhushan Steel Limited and others.

The Hindu

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Despite crackdown, ‘courier scam’ continues unabated

A day after the Special Investigation Team (SIT) formed by Bengaluru Police Commissioner B. Dayananda to probe the ‘FedEx courier scam’ unearthed a case and arrested a gang of 14 people operating pan India recently, a couple who are retired bank employees approached the police with a complaint that they…

The Hindu

Former head of bank linked to Greensill Capital fined by UK regulator

CEO of Wyelands Bank, part of steel magnate Sanjeev Gupta’s empire, committed ‘serious’ rule breaches

The Guardian - UK

Price war erupts as six of seven major mortgage lenders slash rates

Top mortgage broker says major lenders are now engaged in a price war as rates dip below 4 per cent

The Independent UK

Wells Fargo & Company (WFC) Earnings Gameplan

Wells Fargo & Company (WFC) will release its fourth-quarter earnings on January 12. The bank is expected to report growth in revenue over the prior-year quarter, but its EPS is expected to decline. With the Fed expected to cut rates this year, will it be wise to invest in WFC…

StockNews.com

Citigroup (C) Earnings Preview: 2024 Stock Outlook

Citigroup (C) stands poised for long-term growth owing to its strategic launches, notable loan agreements, and transformative restructuring. However, impending current profitability and stability concern what to do with the stock, with its earnings release around the corner? Read more to find out.

StockNews.com

How Barclays, Santander and HSBC cutting mortgage rates will impact you

Banks are cutting mortgage rates on products as competition amongst lenders intensifies - but what does it mean for first-time buyers and people remortgaging

The Independent UK

Bank of America (BAC) Pre-Earnings Buy or Sell?

America’s second-largest bank by assets, Bank of America (BAC), will release its fourth-quarter earnings on January 12. The bank is expected to report year-over-year declines in revenue and earnings. With the Federal Reserve indicating three rate cuts this year, is BAC worth buying now? Read on to learn my view….

StockNews.com

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The Independent UK

Two major mortgage lenders announce ‘very significant’ rate cuts

One of the UK’s leading mortgage brokers has called the move a ‘turning point’ for prospective buyers

Evening Standard

Sub-4% two-year fixed mortgage within sight as Barclays and Santander slash rates

The ‘big six’ lenders joined the ongoing rate war, following a number of others such as Halifax and HSBC in reducing mortgage prices this year

StockNews.com

JPMorgan (JPM) Earnings Play -- Buy or Sell

JPMorgan & Chase (JPM) will release its fourth-quarter earnings on January 12. The bank is expected to report growth in revenue over the prior-year quarter, but its EPS is expected to decline. With the central bank contemplating interest rate cuts this year, should investors invest in JPM now? Read on…

International Business Times

Consumer Credit Union Review 2024: Empower Your Finances

Credit Unions offer better deals with lower fees and higher savings rates. They are also as secure as banks, with up to $250,000 insured.

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The Hindu

Case against Ramesh Jarkiholi for allegedly cheating cooperative bank on loan to sugar factory

BJP leader Ramesh Jarkiholi booked for cheating Karnataka State Cooperative Apex Bank of ₹439.7 crore.

The Hindu

PMLA court denies bail on medical grounds to ex-chief of Pune-based coop bank

The Enforcement Directorate is making further investigation as per the provision of the Prevention of Money Laundering Act and there is a possibility of the applicant (accused) dealing with POC (proceeds of crime) and ultimately paralysing further investigation of the ED, the court said in the order made available on…

The Hindu

NCP condemns ED raids on MLA Rohit Pawar’s Baramati Agro

ED conducts searches at 6 locations linked to NCP MLA Rohit Pawar in money laundering probe connected to alleged Maharashtra State Cooperative Bank scam.

StockNews.com

3 Foreign Bank Stocks Set to Soar in 2024

U.S. banks are anticipated to face pressure due to prolonged high interest rates, elevated deposit costs, diminished credit demand, and stringent lending standards. Therefore, it could be wise to look beyond borders and buy fundamentally strong foreign bank stocks Woori Financial Group (WF), Intesa Sanpaolo (ISNPY), and Shinhan Financial Group…

StockNews.com

How M&T Bank (MTB) and JPMorgan (JPM) Are Positioned for 2024 Banking Landscape

Despite indications of lower interest rates by the end of the year, concerns over asset quality, higher deposit costs, stringent lending norms, and interest rates remaining higher for longer remain for major banks. Considering these factors, let’s assess how M&T Bank (MTB) and JPMorgan Chase (JPM) are positioned to navigate…

The Independent UK

Consumer credit borrowing increases at fastest annual rate in five years

The annual growth rate for consumer credit was 8.6% in November, the highest rate since September 2018, according to the Bank of England.

StockNews.com

3 Foreign Bank Stocks Primed for Untapped Growth in 2024

The banking industry displayed admirable resilience and stability in 2023. Amid the banks' efforts to streamline their structures, honing in on core operations – there are projections of higher costs in the short term, inflicting some degree of impact on immediate bottom-line growth. Given this backdrop, quality foreign bank stocks…

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