It is a daily ritual for millions of Australians, but if you have noticed the price of your morning flat white or soy latte increase, brace yourself — it is likely to get worse.
By the end of the year,...
It is a daily ritual for millions of Australians, but if you have noticed the price of your morning flat white or soy latte increase, brace yourself — it is likely to get worse.
By the end of the year,...
As interest rates remain high, large banks are seeing a boost in revenue. They can charge higher rates on loans and pay lower rates on deposits. Smaller banks, however, are squeezed as their funding costs increase. These banks are also facing challenges with commercial real estate loans becoming due this year. The shifting interest rate landscape is expected to benefit large banks like JPMorgan Chase, while smaller banks like Valley Bank face challenges.
Wells Fargo outperformed Wall Street estimates for its first-quarter earnings and revenue. The decline in its net interest income was offset by an increase in non-interest income. CEO Charlie Scharf highlighted the bank's progress in diversifying its financial performance. The bank also made significant share repurchases, contributing to a year-to-date stock gain of over 15%.
