Bank Of America

Why is San Francisco’s First Republic Bank in trouble? Why did the biggest US banks step in to save it?

After the Silicon Valley Bank debacle, First Republic came under scrutiny for uninsured deposits. Its shares fell, as it scrambled to reassure customers it can avoid the same fate. Now, 11 of the biggest US banks have announced a $30 billion rescue package to prop it up and stave off a bigger crisis

IMF bailout doubtful, high interest loans from China only option for Pakistan: Bank of America

The Pakistan economic crisis has forced the Pakistani government to impose several harsh measures including increased taxes apart from higher fuel and gas prices in an attempt to persuade the IMF to restart a stalled $6.5 billion loan program. The only other option is high-interest loans from China

Bank of America customers report money disappearing from their accounts; here's what happened

US Senator Elizabeth Warren tweeted that Bank of America and Zelle are seemingly failing customers once again

Green energy investment in India to be $10 billion in 2023, predicts Bank of America

Kaku Nakhate, the lender’s president and India country head, in an interview said that deals and investments will continue to flow into areas including electric vehicles and green hydrogen as investors look to reflect the energy transition in their portfolios

What is a recession? When is the next one going to begin?

According to America's National Bureau of Economic Research, a recession is 'a significant decline in economic activity' that is widespread and lasts several months. That means not only shrinking GDP but also declining incomes, employment, industrial production and retail sales

IT companies set to slash 3 million jobs by 2022 due to automation, says Bank of America report

Based on average employee costs of $25,000 per annum for India-based resources and $50,000 for US resources, the move will release around $100 billion in salaries and associated expenses

NFL: Washington franchise drops 'Redskins' name and logo with Indian head after 87 years

Native American advocates and experts have long criticised the Washington Redskins name they call a “dictionary-defined racial slur.”

Coronavirus Outbreak: Govt’s economic stimulus package won't stop GDP from contracting in FY21, say analysts

The government’s reform moves and stimulus package will only help the deeply-impacted growth process in the medium term of over three years and will not push up the GDP in the short term, analysts at two foreign brokerages said on Monday

Public sector banks' NPAs likely to rise by 2-4%; may push govt to recapitalise via RBI reserves, bonds: Report

State-owned banks' non-performing loans are likely to rise by 2-4 percentage points, which will put up to $15 billion recapitalisation pressure on the government in FY21, a foreign brokerage firm said on Tuesday

Warren Buffett's Berkshire posts nearly $50 billion loss hit by coronavirus; says made 'a mistake' investing in airline sector stocks

Berkshire's stock price has fallen 1% in 2020, compared with a 12% drop in the Standard & Poor’s 500, despite Warren Buffett’s prediction that Berkshire would outperform in down markets.