AmEx easily topped Wall Street targets for quarterly profit as record investments in card rewards and a strengthening US economy contributed to higher customer spending.
Global stocks climbed to their highest in nearly 4 wks as strong US Q1 earnings helped revive risk appetite, driving up equities and hauling the dollar out of its slump.
RBI is expected to go for a 25 basis points rate cut in key rates in its policy review meet in August, says a report.
Wells Fargo two biggest competitors have been nabbing market share in lending to commercial and industrial customers in the American heartland.
At 9:53 a.m. ET, the Dow Jones Industrial Average .DJI was up 0.59 percent at 24,502.89.
Bank of America (BAC.N) reported a 34 percent rise in first-quarter profit on Monday as it benefited from higher interest rates and loan growth.
Investors brushed aside concern over military and economic tensions between the United States and Russia to pump as much as $7 billion into equities over the past week.
The number of finance jobs to be shifted out of Britain or created overseas by March 2019 due to Brexit has dropped by half compared to six months ago to 5,000 roles.
Inflation risks are overdone, and RBI is expected to go for a rate cut in August, even as it may strike a "balanced tone" in the ensuing policy review meet next month.
Bank of America Corp will pay a $42 million fine and admitted wrongdoing to settle claims by New York state.
Steel Ministry To Announce Scrap Policy This Year
Draft Scrappage Policy Allows Benefits For Vehicles Older Than 20 Yrs
Steel Secy Arun Sharma Says Policy Will Be Out By December 2018
Scheme Will Come In Effect From April 2020
Telenor India Eyes Bankruptcy Filing, Merger Plan With Airtel May Take Hit
Legal Tussle Over Bank Guarantee Could Also Delay Govt Approval
Economic Times Reports
Lenders To Meet Today To Decide On Essar Steel
CoC May Give Time To Arcelor And Numetal To Rectify Bids
Business Standard Reports
IPO under SEBI scanner
SEBI has sought details of investment made by ICICI Prudential MF
Had to cut its IPO Size To Rs 3,520 Cr from original target of Rs 4,017 Cr
A large chunk was bought by ICICI MF
ICICI MF is ICICI Securities largest public shareholder with 3.82% stake
Board approves proposal for corporate restructuring
Move aimed at simplifying & clarifying structure & holdings
To focus on travel, forex, destination mgmt & portfolio investments
Restructuring will consolidate HR services into Quess Corp
Shareholders will receive 1,889 shares of Quess for every 10,000 Shares Held in Co