More Finance and Banking Articles

  • Amgen misses 1Q views as higher costs cut profit

    Despite higher sales, biotech drugmaker Amgen's first-quarter profit fell 25 percent as production and research costs rose sharply. Last year's quarter also gained from a tax benefit. The company missed Wall Street's expectations for both earnings per share and revenue, sending down its shares....

  • Discover Financial's profit declines 6 pct. in 1Q

    LOS ANGELES (AP) — Discover Financial Services' net income fell 6 percent in the first three months of the year as the company set aside more money to cover potential loan losses, offsetting loan growth. The credit card issuer and lender said Tuesday that total loans grew 6 percent in the...

  • BNY Mellon reports higher 1Q earnings

    NEW YORK (AP) — Bank of New York Mellon said it made a profit in the first quarter, thanks to rising financial markets and more money under management. Bank of New York Mellon Corp. reported net income of $661 million, or 57 cents per share, for the three months ending March 31. That's up...

  • Grieving borrowers told to repay student loan

    WASHINGTON (AP) — Some student loan borrowers who had a parent or grandparent co-sign the note are finding that they must immediately pay the loan in full if the relative dies. The Consumer Financial Protection Bureau says lenders have clauses in their contract that explain this could happen,...

  • BancorpSouth sees profit continue to rise

    TUPELO, Miss. (AP) — Regional bank BancorpSouth Corp. saw profit rise for the third quarter in a row, jumping 37 percent in 2014's first quarter from the same three months in 2013. BancorpSouth posted quarterly profit Monday of $28.4 million, or 30 cents per share. That's up from $20.8...

  • Fifth Third Bancorp 1Q earnings fall 25 pct

    CINCINNATI (AP) — Fifth Third Bancorp reported Thursday that its first-quarter net income fell 25 percent, mostly on increased legal costs and a decline in its investment in its former Vantiv payment-processing subsidiary. The Cincinnati-based company says net income fell to $309 million, or...

  • Morgan Stanley's income rose 18 percent

    NEW YORK (AP) — Investment bank Morgan Stanley said Thursday that its first-quarter income rose 18 percent from a year ago, helped by higher earnings in its trading and merger and acquisitions advisory businesses. THE RESULTS: Morgan Stanley earned $1.39 billion, up from $1.18 billion in the...

  • Goldman's income falls 11 percent, but still beats

    NEW YORK (AP) — Goldman Sachs' earnings fell in the first quarter as bond trading slumped, but the results still came in ahead of what investors expected as other parts of the bank performed well. EARNINGS AND REVENUE: The bank earned $1.95 billion in the quarter, down 11 percent from $2.19...

  • Congressional Budget Office: TARP on track to cost government $27 billion

    The enormous bailout of the U.S. financial system at the height of the financial crisis in fall 2008 is on track to cost the federal government $27 billion, the Congressional Budget Office estimated in a report issued Thursday afternoon.

  • AmEx posts higher 1Q profit as spending picks up

    NEW YORK (AP) — American Express said Wednesday its net income climbed in the first quarter, helped by higher spending by its cardholders even as cold winter weather gripped much of the country. The New York-based company said its cardholders spent 6 percent more in the first three months of...

  • Capital One Financial's profit edges up

    MCLEAN, Va. (AP) — Capital One Financial Corp. says its first-quarter profit edged up, even as income it receives from lending slipped. After the market closed Wednesday, McLean, Va.-based Capital One reported net income of $1.14 billion, or $1.96 per share, for the three months ending March...

  • King and Bank of America are big market movers

    NEW YORK (AP) — Stocks that moved substantially or traded heavily Wednesday on the New York Stock Exchange and the Nasdaq Stock Market: NYSE King Digital Entertainment Plc, up 60 cents to $18.03 The maker of the "Candy Crush" is partnering with China's messaging giant Tencent to showcase...

  • House panel hears bill on pay day loan curbs

    PROVIDENCE, R.I. (AP) — The House Finance Committee has heard testimony on a bill that would prohibit "pay day" lenders from charging as much as 260 percent interest on the loans. The legislation, sponsored by Rep. Frank Ferri, was being considered Wednesday afternoon. It would eliminate a...

  • Former Anglo Irish Bank chairman cleared of fraud

    LONDON (AP) — A jury Wednesday cleared former Anglo Irish Bank chairman Sean FitzPatrick of all fraud charges related to a loans-for-shares scheme that preceded the bank's 2009 collapse. The 65-year-old FitzPatrick had denied providing illegal financial help to selected clients. The verdict...

  • Bank of America posts loss, hurt by legal charges

    CHARLOTTE, N.C. (AP) — Bank of America said Wednesday that it swung to a loss in the first quarter, hurt by $6 billion in legal charges. A LOSS: The Charlotte, N.C., bank reported a loss applicable to common shareholders of $514 million, compared with a profit of $1.11 billion a year earlier....



From the Weekly Standard

  • Why the New York Times Poll Is Bogus

    The Arkansas Senate race has been close in virtually every serious poll. The Republican challenger, Tom Cotton, probably had a small lead a month or so ago; after a massive negative assault on him...

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  • Kennedy’s Question

    We often think of the Constitution as a two-part document: first the original 1787 text, which primarily establishes the government’s structure; and then the amendments, which primarily set...

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  • Mitch McConnell, Judicial Activist

    "This is the best Supreme Court, if you’re interested in a free society and in the ability of Americans to participate in the political process with a minimum amount of government restrictions....

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