The Wall Street bankers that backed the biggest oil boom in U.S. history are paying a price for the bust.
Lenders including JPMorgan Chase & Co., Wells Fargo & Co. and Bank of America Corp. are setting aside more money to cover potential loan losses after crude prices fell 61 percent in less than two years. Bank of America added $595 million to its oil and natural gas loan loss reserves, bringing the total to more than $1 billion, according to an earnings statement on Thursday. JPMorgan said Wednesday that it had added $529 million, bringing the total to $1.3 billion. Wells Fargo, which will release earnings later on…
Log in to read the publication.
An authorized user gets access to four FREE publications per month.
You can also buy a full access to all publications of the site since January 2014.
|April, 19, 09:45:00|
|April, 19, 09:40:00|
|April, 19, 09:35:00|
|April, 19, 09:30:00|
|April, 19, 09:25:00|
|April, 19, 09:20:00|
South Korea's economy has been pushing to shed its heavy reliance on coal and nuclear power, with the latest target coming on top of a 2017 plan to increase the amount of renewables in its energy mix to 20 percent by 2030.
The International Monetary Fund (IMF), has forecast the UAE’s nominal Gross Domestic Product (GDP) to grow 4.7 percent to AED1.673 trillion in 2019, compared to AED1.589 trillion a year ago.
the goods and services deficit was $49.4 billion in February, down $1.8 billion from $51.1 billion in January,
BHGE - U.S. Rig Count is down 10 rigs from last week to 1,012, with oil rigs down 8 to 825, gas rigs down 2 to 187, and miscellaneous rigs unchanged at 0. Canada Rig Count unchanged from last week at 66, with oil rigs up 1 to 19 and gas rigs down 1 to 47.