Babylon Health Hires Wall Street Banks in Last-Ditch Effort to Save Company
Babylon Health has reached out to Bank of America and their long-term advisor Citigroup in an effort to save the company, with Deloitte also providing guidance. This comes after the healthcare provider announced that it would be shutting its U.S. business, laying off hundreds...
Major U.S. Banks Showed Largest Q2 Deposit Declines
U.S. bank deposits declined in the second quarter, with major banks unexpectedly suffering the largest dropoffs. The four largest U.S. banks by assets: Bank of America, Citigroup, JPMorgan Chase, and Wells Fargo, lost $262 billion in deposits compared to the previous year. In contrast,...
Bank Results Serve As Warning Sign For Wall Street
A tough week ahead is expected for Wall Street as banks reported mixed earnings results over the past week.
Citigroup CEO Jane Fraser commented that "the long-awaited rebound in investment banking has yet to materialize," following the release of her bank's disappointing second-quarter results....
S&P 500 Back in Bull Market, Bank of America Confirms
The S&P 500 is at the start of a new bull market after gaining more than 20% following its October lows. Its current run to the bull market of 248 trading days marks the longest bear run on the S&P since 1948.
"We are back...
JP Morgan, Bank of America Considering Bids for First Republic
The Federal Deposit Insurance Corporation is currently approaching banks to inquire about their interest in purchasing the struggling First Republic Bank, a source familiar with the matter claimed. The source added the regulators are eager to secure a deal for the bank soon.
Bank of America...
Bank Of America, Citigroup, And Wells Fargo & Co. Call For Reduced Fossil Fuel Financing
Bank of America, Citigroup and Wells Fargo & Co. are encouraging their investors to wind down fossil fuel investments. While there is no binding policy in place, the three major U.S. banks have urged investors to consider their call for policies to phase out...