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Banking

US regional banks earn more on loans but warn on rising deposit costs

The Wall St. sign is seen outside the New York Stock Exchange (NYSE) in New York, U.S., December 17, 2019. REUTERS/Brendan McDermid Acquire Licensing RightsNEW YORK, Oct 18 (Reuters) - Several U.S. regional banks beat analysts third-quarter profit expectations on Wednesday as higher interest rates allowed them to charge more for loans, although rising loan loss provisions and deposit retention costs crimped margins.Shares of several regional banks fell, including M&T Bank and US Bancorp.Stronger net interest income (NII), the difference between what banks earn from lending and pay out on...
Banking

Morgan Stanley profit down with lower investment banking revenue, shares tank

People take photos by the Morgan Stanley building in Times Square in New York City, New York U.S., February 20, 2020. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsOct 18 (Reuters) - Morgan Stanley's (MS.N) third-quarter profit showed a hit from lethargic dealmaking and shares sank 6.5% as investors were also disappointed by smaller inflows to the wealth management division and the lack of announcements in the CEO succession.The bank saw a 27% drop in investment banking revenues from a year earlier and sluggish trading as dealflow took a hit when geopolitical...
Economy

Roaring US economy and foreign murk feeds home bias

LONDON, Oct 18 (Reuters) - With the U.S. economy roaring at a faster pace than China and global politics increasingly hard to fathom, there's a feeling the best bet in town is to stick with U.S. stocks regardless of relative valuations.After another forecast-busting U.S. retail and industrial readings for last month, the Atlanta Federal Reserve's real-time economic growth estimate hit an annualised 5.4%, more than a point higher than China's equivalent.And all against a murkier international backdrop.The Gaza crisis throws yet another geopolitical imponderable into an already crowded and confusing...
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