Global Banking Monitor

Sunday, September 8, 2024

Stripe employees get to sell $1bn of shares

It's good news for the Stripe employees...

Strategies for Upskilling Your Workforce in an AI-Driven Economy

In an era where artificial intelligence (AI)...

Five Strategies for Enhancing Internal Communications in Banks

In the fast-paced world of banking, effective...
HomeBankingCEO of Bank of...

CEO of Bank of America Reverses Recession Call Citing Robust Jobs and Spending

By Pete Sadler
Photo by Steve Pancrate on Unsplash

Bank of America Corp. Chief Executive Officer Brian Moynihan said the firm reversed its prediction for a recession in coming months because of strength in the jobs market and robust consumer spending.

“People are employed, they have money, they are spending money,” Moynihan said in a Bloomberg Television interview Thursday. “It looks like we are reaching a pretty good equilibrium.”

Read More: CEO of Bank of America Reverses Recession Call Citing Robust Jobs and Spending

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Apple Pay processes $6 trillion in 2022

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For those executives who haven't been watching the continued growth of Apple Pay, the recent metrics published by Capital One will make for stimulating...

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Sohar International: Best Ecosystem Banking App Award 2023

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We have been closely following the recent launch of Sohar International Bank's latest mobile app. The update added a totally new set of features...

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Raiffeisen’s Russia Deal Raises Questions as Executive Linked to Sanctioned Tycoon Emerges

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Nigeria Announces Takeover of Banks Acquired by Ousted Bank Governor

Nigeria said it will take possession of two banks that the...
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Record High Interest in Fed’s Bank Term Funding Facility

Banks borrowed a record amount from the Federal Reserve’s newest backstop...
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Nigerian Central Bank Allows Crypto Trading, Lifts Previous Ban

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Stripe employees get to sell $1bn of shares

It's good news for the Stripe employees who, the WSJ reports, are being allowed to sell their stock to investors keen to get in on the pre-IPO action. This is very good news for Stripe employees! You can find out a lot more detail in the WSJ's...

Strategies for Upskilling Your Workforce in an AI-Driven Economy

In an era where artificial intelligence (AI) is reshaping the landscape of work, preparing your teams for an AI-first workplace has become an imperative for businesses aiming to stay competitive. As AI continues to advance, it is not only automating routine tasks but also augmenting human capabilities,...

Five Strategies for Enhancing Internal Communications in Banks

In the fast-paced world of banking, effective internal communications are paramount to success. They not only facilitate the smooth operation of daily activities but also foster a collaborative environment that can drive innovation and improve customer service. Here are five strategies that can significantly enhance internal communications...

Unicredit reportedly in talks to buy Vodeno

UniCredit is considering an acquisition of Vodeno, aiming to enhance its banking services and technological capabilities. This strategic move could transform the banking sector, showcasing UniCredit's commitment to innovation and leadership in financial services. For more details, please visit BNN's post here: UniCredit Eyes Expansion Through Potential...

Raiffeisen’s Russia Deal Raises Questions as Executive Linked to Sanctioned Tycoon Emerges

Raiffeisen Bank International AG says it may finally have a way to move some of its assets out of Russia. What it hasn’t explained is why the complex, €1.5 billion ($1.7 billion) string of transactions ends up with an executive who has a long history working for...

Nigeria Announces Takeover of Banks Acquired by Ousted Bank Governor

Nigeria said it will take possession of two banks that the government alleges were bought at a major discount by former Central Bank Governor Godwin Emefiele using proxies. “We have completed our investigation on this acquisition and we are on the verge of recovering these two banks for...

Record High Interest in Fed’s Bank Term Funding Facility

Banks borrowed a record amount from the Federal Reserve’s newest backstop facility in the most recent week as increasing wagers on interest-rate cuts made it a more attractive choice. Data from the Fed showed an all-time high $131 billion in borrowing from the Bank Term Funding Program, or...

Nigerian Central Bank Allows Crypto Trading, Lifts Previous Ban

Nigeria's central bank has lifted a ban on transacting in cryptocurrencies, while saying global trends had shown a need to regulate such activities, the bank said in its latest circular. The Central Bank of Nigeria (CBN) in Feb. 2021 barred banks and financial institutions from dealing in or...

Russian Central Bank Signals Caution, Requires Months of CPI Decline Before Considering Rate Cuts – RBC

Russia's central bank will need two to three months to make sure that inflation is steadily declining before taking any decision on interest rate cuts, the bank's governor Elvira Nabiullina told RBC media on Sunday. The central bank raised its key interest rate by 100 basis points to...

Debanking Unraveled: A Recap of Events and Current Standing of Banks

UK banking rules are in the midst of a shake-up after a turbulent year which saw former Ukip leader Nigel Farage spark a crisis at one of Britain’s largest banks. The so-called debanking row led to a clampdown on unfair closures of customer accounts. The issue came to the...

Decelerating US Inflation Provides Boost to Economy

U.S. prices fell in November for the first in more than 3-1/2 years, pushing the annual increase in inflation further below 3%, and boosting financial market expectations of an interest rate cut from the Federal Reserve next March. The report from the Commerce Department on Friday also showed...

Bank of Japan Takes Steps Toward Normalization, but Full Transition Remains Incomplete

The news that economic policy minister Yoshitaka Shindo would be in attendance at the Bank of Japan’s policy meeting had sparked market speculation about a shift in policy sooner than expected. It is rare for a minister to sit in a BoJ meeting and, in the past,...

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