Today: 21.08.2018
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Bank of America says it feels no pressure to raise depositor rates.

Bank of America reported record earnings on lower costs and a better tax rate — only to see its shares drop as pressure builds to hike rates for depositors. Like all the major banks, Bank of America has profited from the Federal Reserve hiking its benchmark interest rates, which allows them to make money by...
Time: 10:55     Date: 16.04.2018
Last US Business News: Bank of America says it feels no pressure to raise depositor rates. NY Post 24 - US News

Like all the major banks, Bank of America has profited from the Federal Reserve hiking its benchmark interest rates, which allows them to make money by charging more for loans, while paying depositors next to nothing for their money.

On Monday, analysts seemed skeptical how long the bank can continue to do that as online banks — and even Goldman Sachs’ consumer bank — has started to offer competitive rates.

“We deliver a lot of value to depositors,” Paul Donofrio, BofA’s CFO, said during the call, citing online banking apps and transparency as some of the perks that customers get instead of interest.

He added there was a “lack of market pressure so far” as one of the reasons why depositor rates have yet to rise in about 10 years.

During morning trading, BofA’s shares rose as high as$30.25 before falling to a low of $29.63. Recently they were at $29.92, up 0.4 percent.

The bank, led by CEO Brian Moynihan, on Monday reported $6.92 billion in profit, up 30 percent from the same period the year before. The bank’s bottom line was boosted by $500 million less in taxes that the company had to pay, compared to last year.

The profit puts BofA in the same club as JPMorgan Chase, which said last week the first quarter of the year was its most profitable ever.

“We had a strong quarter, record earnings for our company,” Moynihan said on a call with analysts Monday morning.

Business

Last US Business News: Uber hires a CFO as it preps for an IPO next year. NY Post 24 - US News
Uber hires a CFO as it preps for an IPO next year.
Uber has hired a chief financial officer, the ride-services company said on Tuesday, filling a long-standing vacancy and...
Last US Business News: Wall Street ties record rally as S&P 500 hits all-time high. NY Post 24 - US News
Wall Street ties record rally as S&P 500 hits all-time high.
Wall Street’s bull market is a single session away from the record books. The near-decade rally in US stocks tied for the...
Last US Business News: Investor spoofed on HBO’s ‘Silicon Valley’ settles SEC charges. NY Post 24 - US News
Investor spoofed on HBO’s ‘Silicon Valley’ settles SEC charges.
A hard-partying Silicon Valley investor has settled charges with the SEC that he bilked clients out of millions of dollars...
Last US Business News: Facebook has begun scoring users on trustworthiness. NY Post 24 - US News
Facebook has begun scoring users on trustworthiness.
Facebook has started scoring its users based on their trustworthiness in an attempt to fight misinformation, the Washington...

Opinion

Last US News - Opinion: $289M worth of junk-science injustice and other comments. NY Post 24 - US News
$289M worth of junk-science injustice and other comments.
Libertarian: Another Tort Bar Legal Misfire Add to the list of cases in which the US tort system “has generated many litigation...
Last US News - Opinion: Don’t crucify Twitter’s CEO for telling the truth. NY Post 24 - US News
Don’t crucify Twitter’s CEO for telling the truth.
Twitter chief Jack Dorsey has proved to be more reluctant than other social-media giants (ahem, Facebook) to give in to progressive...
Last US News - Opinion: Brennan loses by trying to play Trump’s game. NY Post 24 - US News
Brennan loses by trying to play Trump’s game.
John Brennan may not know it, but he’s acting in a drama scripted and produced by Donald J. Trump. As Eli Lake perceptively...
Last US News - Opinion: These jail fixes matter much more than closing Rikers. NY Post 24 - US News
These jail fixes matter much more than closing Rikers.
Last week, Mayor de Blasio unveiled the details of his plan to close the jail complex at Rikers Island within a decade. As...
Last US News - Opinion: Online fundraiser proves Norman Seabrook has no shame. NY Post 24 - US News
Online fundraiser proves Norman Seabrook has no shame.
What gall: Norman Seabrook, the crooked former boss of the city correction-officers’ union, has set up a GoFundMe account...

Living

US Living News: Woman finally learns what’s behind crunching noise in head. NY Post 24 - US News
Woman finally learns what’s behind crunching noise in head.
For more than a year, a 48-year-old woman in Indiana was constantly tormented by a mysterious crunching noise that doctors...
US Living News: Arctic’s oldest, thickest sea ice has started breaking apart. NY Post 24 - US News
Arctic’s oldest, thickest sea ice has started breaking apart.
The oldest and thickest sea ice in the Arctic has begun to break up, opening waters that are normally frozen, researchers...
US Living News: Cliffhanging restaurant and hotel seeks new managers. NY Post 24 - US News
Cliffhanging restaurant and hotel seeks new managers.
ZURICH – A cliffhanging Swiss hotel and restaurant made famous by a National Geographic magazine cover is looking for...
US Living News: Beer race winner disqualified for not chugging enough. NY Post 24 - US News
Beer race winner disqualified for not chugging enough.
Last Saturday, Corey Bellemore of Windsor, Canada, had set a new world record for the fastest time to finish the Beer Mile...
US Living News: NASA confirms there’s definitely ice on the moon. NY Post 24 - US News
NASA confirms there’s definitely ice on the moon.
The moon has captured the hearts and minds of humans for, well, pretty much as far back as we know. It appears each night...
US Living News: Woman cancels wedding at last minute because fiancé watched porn. NY Post 24 - US News
Woman cancels wedding at last minute because fiancé watched porn.
A woman has revealed that she canceled her dream wedding just a week before the big day after discovering her fiancé watched...
US Living News: The deadly truth behind fake butts. NY Post 24 - US News
The deadly truth behind fake butts.
A notorious surgical procedure, known as the Brazilian Butt Lift, is now considered so dangerous that a specialist Australian...
US Living News: Disneyland accidentally poisoned 22 guests and staff. NY Post 24 - US News
Disneyland accidentally poisoned 22 guests and staff.
Guests and staff were accidentally poisoned at a hotel in Disneyland Paris over a mix-up with chemicals in its swimming pool....

Business

Last US Business News: Uber hires a CFO as it preps for an IPO next year. NY Post 24 - US News
Uber hires a CFO as it preps for an IPO next year.
Uber has hired a chief financial officer, the ride-services company said on Tuesday, filling a long-standing vacancy and...
Last US Business News: Wall Street ties record rally as S&P 500 hits all-time high. NY Post 24 - US News
Wall Street ties record rally as S&P 500 hits all-time high.
Wall Street’s bull market is a single session away from the record books. The near-decade rally in US stocks tied for the...
Last US Business News: Investor spoofed on HBO’s ‘Silicon Valley’ settles SEC charges. NY Post 24 - US News
Investor spoofed on HBO’s ‘Silicon Valley’ settles SEC charges.
A hard-partying Silicon Valley investor has settled charges with the SEC that he bilked clients out of millions of dollars...
Last US Business News: Facebook has begun scoring users on trustworthiness. NY Post 24 - US News
Facebook has begun scoring users on trustworthiness.
Facebook has started scoring its users based on their trustworthiness in an attempt to fight misinformation, the Washington...
Last US Business News: Warren wants to ban lawmakers from owning individual stocks. NY Post 24 - US News
Warren wants to ban lawmakers from owning individual stocks.
WASHINGTON — Sen. Elizabeth Warren is proposing a bill that would prevent members of Congress from owning individual...
Last US Business News: Fast-food chains to end ‘no-poach’ clauses that capped wages. NY Post 24 - US News
Fast-food chains to end ‘no-poach’ clauses that capped wages.
Eight big US fast-food chains have agreed to end “no-poach” tactics that critics say have kept down wages and thwarted...
Last US Business News: Trump says he doesn’t expect much from China trade talks. NY Post 24 - US News
Trump says he doesn’t expect much from China trade talks.
President Donald Trump does not expect much progress from trade talks with China this week in Washington, he told Reuters...
Last US Business News: Another big bank drops Tesla coverage amid buyout chatter. NY Post 24 - US News
Another big bank drops Tesla coverage amid buyout chatter.
Brokerage Morgan Stanley has ceased equity coverage on Tesla, potentially a sign the bank may be doing business directly...

Metro

Metro News: Man who burned soles of housekeeper’s feet gets 10 years. NY Post 24 - US News
Man who burned soles of housekeeper’s feet gets 10 years.
A Queens man who admitted to burning the soles of his housekeeper’s feet because he thought she stole from him tried to...
Metro News: Plastic surgeon left loaded gun in Times Square hotel safe. NY Post 24 - US News
Plastic surgeon left loaded gun in Times Square hotel safe.
A Virginia plastic surgeon has been busted on gun-possession raps after he left a loaded handgun in a safe at the Marriott...
Metro News: War veteran was kicked out of zoo over service dog: suit. NY Post 24 - US News
War veteran was kicked out of zoo over service dog: suit.
A New Jersey war vet says cops acted like a bunch of animals when they booted him from a zoo for bringing his service dog...
Metro News: Cops bitten, maced by woman with hammer in Midtown. NY Post 24 - US News
Cops bitten, maced by woman with hammer in Midtown.
A woman went berserk on a trio of cops in Midtown on Tuesday — biting one of them, assaulting the other two with pepper...
Metro News: Cuomo challenger calls state government an ‘ethical morass’. NY Post 24 - US News
Cuomo challenger calls state government an ‘ethical morass’.
The former co-chair of the New York State Democratic Party unloaded on Gov. Andrew Cuomo on Tuesday, saying he’s running...
Metro News: DEP plant chief fined for telling subordinate to work on his properties. NY Post 24 - US News
DEP plant chief fined for telling subordinate to work on his properties.
A plant chief for the city’s Department of Environmental Protection has agreed to pay a $6,000 fine for directing a...
Metro News: Famed chef arrested on drunken-driving charges. NY Post 24 - US News
Famed chef arrested on drunken-driving charges.
The renowned chef partner of actors Mark and Donnie Wahlberg has been busted in a drunken-driving crash in the Hamptons,...
Metro News: New York is least free state in America, think tank claims. NY Post 24 - US News
New York is least free state in America, think tank claims.
The libertarian CATO Institute labeled New York as the least free state in the nation thanks to high taxes, a heavy debt...

Sport

Last US Sport News: Giants build hype for an Eli Manning we’ve never seen before. NY Post 24 - US News
Giants build hype for an Eli Manning we’ve never seen before.
Eli Manning and Pat Shurmur were joking about the generation gap between the 37-year-old quarterback and his young social...
Last US Sport News: When Jets should trade Teddy Bridgewater. NY Post 24 - US News
When Jets should trade Teddy Bridgewater.
Suddenly, it feels like the Jets are a bad baseball team, Teddy Bridgewater is a stud pitcher and the July 31 trade deadline...
Last US Sport News: Tiger Woods: PGA Player of the Year should be a no-brainer. NY Post 24 - US News
Tiger Woods: PGA Player of the Year should be a no-brainer.
With the PGA Tour season winding down with the four FedExCup playoff events, there is little suspense about which player...
Last US Sport News: Golfer’s FedEx streak came down to one tense moment. NY Post 24 - US News
Golfer’s FedEx streak came down to one tense moment.
Entering this year, Harris English had been on the PGA Tour for six years and qualified for the FedExCup playoffs in every...
Last US Sport News: Tiger Woods knows why fans treating him ‘so different’ now. NY Post 24 - US News
Tiger Woods knows why fans treating him ‘so different’ now.
The buzz surrounding Tiger Woods has changed. What once centered around a fascination of his dominance and his otherworldly...