England’s central bank has postponed a bond sale following an uptick in tariff-related market pressure. As Bloomberg News reported Thursday (April 10), the Bank of England (BOE) had planned to sell the long-dated bonds under its quantitative tightening program, but decided to pause that sale following a surge in...
The carnage in global stock and bond markets wrought by the trade war being waged between the United States and just about everybody else continues. The latest troubling signs, as of Wednesday morning (April 9) include the fact that investors are walking away from government...
This week, America’s biggest banks are set to report their quarterly earnings. But as Reuters reported Tuesday (April 8), investors are less likely to be focused on profits than on the banks’ view of the economy amid steep U.S. tariffs. Wells Fargo analyst Mike Mayo said the...
Bank of America is allocating $4 billion — or nearly a third of its overall technology budget for this year — toward new initiatives including AI, according to a Tuesday (April 8) news release. The investment comes as the financial services giant sees the fruits...
Regional banks that were looking to grow after dealing with the banking crisis that began in the spring of 2023 are reportedly now being challenged by the economic uncertainty driven by the new U.S. tariffs. The KBW Regional Banking Index has dipped 13% since the...
Consumer payments have become a “new battleground” for banks, JPMorgan Chase Chairman and CEO Jamie Dimon said Monday (April 7) in his annual letter to shareholders. Dimon highlighted the evolving competition from FinTech firms as a key concern for the financial industry. He did so...
Singapore-based payments startup Airwallex reportedly wants to expand into lending. To that end, the company, which offers AI-powered automated workflow solutions among other offerings, plans to acquire banking licenses in the U.S. and United Kingdom, CEO Jack Zhang told the Financial Times (FT) Monday (April 7). “We are planning to...
We get a lot of press releases here at PYMNTS. We consider all of them, and some are more newsworthy than others. But this one really got our attention. This past week, Diebold Nixdorf made headlines with its announcement of successfully installing two new automated...
Bank-FinTech relationships are likely to drive the integration of GenAI into banking, Federal Reserve Governor Michael S. Barr said Friday (April 4). The integration and innovation will be driven by both competition and cooperation, Barr said in a speech prepared for delivery at the Federal Reserve Bank...
