A Bank of America executive stated that “we hope” working Americans will lose leverage in the labor market in a recent private memo obtained by … Bank of America Hope Conditions for American Workers Will Get WorseRead more
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Wells Fargo employees pushing to organize union across bank’s workforce
Workers at Wells Fargo, the third largest bank in the US, are pushing to organize a union across the bank’s workforce with Wells Fargo Workers … Wells Fargo employees pushing to organize union across bank’s workforceRead more
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Wells Fargo ordered to pay $3.7 billion for ‘illegal activity’
Federal regulators fined Wells Fargo a record $1.7 billion on Tuesday for “widespread mismanagement” over multiple years that harmed over 16 million consumer accounts. The … Wells Fargo ordered to pay $3.7 billion for ‘illegal activity’Read more
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Rs 10.57 Lakh Crore Bad Loans Written off by Banks in Past 5 Years
Bad loans or non-performing assts (NPAs) worth Rs 10.57 lakh crore were written off by the banking sector in the past five years. According to … Rs 10.57 Lakh Crore Bad Loans Written off by Banks in Past 5 YearsRead more
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First Republic Bank: The Second Largest Crash in History
On International Workers’ Day, the First Republic Bank became the second largest bank to fail in US history. The USD 233 billion institution was seized … First Republic Bank: The Second Largest Crash in HistoryRead more
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A BRICS+ Bank: How would it really function?
This first week of October has seen U.S. interest rates soar to the 5% level on long-term Treasury bonds. That has made long-term Treasuries one … A BRICS+ Bank: How would it really function?Read more
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50% Rise in Money Parked by Indians in Swiss Banks in 2021
Funds parked by Indian individuals and firms in Swiss banks, including through India-based branches and other financial institutions, jumped to a 14-year-high of 3.83 billion … 50% Rise in Money Parked by Indians in Swiss Banks in 2021Read more
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The bailout of Silicon Valley Bank
The collapse of Silicon Valley Bank (SVB)—the second largest bank failure in nominal terms in US history—and the ongoing turbulence in the banking system, raising … The bailout of Silicon Valley BankRead more
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Why can’t the EU power ahead with green subsidies like Biden’s?
Inglorious procrastination is one of the European Union’s standard responses to major crises. This is not merely due to the difficulty of getting twenty-seven Prime … Why can’t the EU power ahead with green subsidies like Biden’s?Read more