Skip to main content

United States Breaking News

Bloomberg
Financial

Bank of America Results Hit by Weaker Trading, $1.2 Billion Penalty

Bank of America's stock and fixed-income traders missed estimates in the third quarter, with bond-trading revenue falling 17% to $2.55 billion and equity trading down 10% to $2.51 billion. The bank's results were also hurt by a charge tied to a regulatory penalty over money laundering and sanctions violations. Kristine Aquino reports on Bloomberg Television.

Read more: Bank of America Results Hit by Weaker Trading, $1.2 Billion Penalty
Bloomberg
Financial

Fed's Bowman Sees No Urgency for Further Action on Rates

Federal Reserve Vice Chair for Supervision Michelle Bowman said that although inflation remains above the central bank's goal, "I think we have some time to wait and see how financial conditions and the economy evolves." She spoke Wednesday with Institute of International Finance CEO Tim Adams at the IIF Annual Membership Meeting in Bangkok.

Read more: Fed's Bowman Sees No Urgency for Further Action on Rates