On your way to work today, you may have bought something online on your phone, transferred money via PayPal (Venmo in the U.S), tapped your phone when buying a coffee and maybe even used a contactl
Big U.S. lenders are expected to report another round of uninspiring quarterly results next week, which analysts said could dampen a "Trump rally" in bank stocks fueled by expectations the new president would lighten financial regulation and boost the economy.
U.S. stocks rose on Wednesday after solid private employment data underscored the strength of the economy, boosting financial stocks and helping calm investor jitters over President Donald Trump's ability to deliver on his policy plans.
A surge in consumer lending means British banks are at risk of incurring losses, the Bank of England said on Tuesday, warning that some might be letting credit standards slide as they compete to offer debt to households.
Artificial intelligence (AI) will become the primary way banks interact with their customers within the next three years, according to three-quarters of bankers surveyed by consultancy Accenture in a new report.
The global push for bank regulation after the global financial crisis was appropriate and capital levels at big lenders may still be on the low side, European Central Bank supervisor Ignazio Angeloni said on Friday.
Bank stocks are back in vogue for hedge funds, which have shunned the industry over the past seven years due to a squeeze on banks' profitability from low interest rates and because of their opaque balance sheets. The election of U.S. President Donald Trump has already tempted some hedge funds back into bank stocks to raise their bets on deregulation and interest rate rises in the United States, which could help banks to earn higher returns on deposits.
European stocks fell for a third consecutive day, dragged lower by financials as shares in Deutsche Bank slid further after its $8.5 billion cash call, while expectations of higher U.S. interest rates supported the dollar.
