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The Latest Breaking News from Bank of America

The Fed’s ongoing housing market ‘reset’ sees buyer cancellation rate at one of the nation’s largest homebuilders spike to 68%

KB Home announced that its buyer cancellation rate in the fourth quarter of 2022 spiked to 68%. That's up from 13% in the fourth quarter of 2022.

Fortune

Wall Street investors shrug off Southwest Airlines’ holiday meltdown

Southwest Airlines has regained most of the value it lost on Wall Street when its operations cratered in late December and left hundreds of thousands of passengers without flights around Christmas.

Tribune News Service

Crypto took such a beating in 2022 that U.S. regulators have teamed up for the first time to sound the alarm to banks

Deutsche Bank, Wells Fargo, Citigroup and Bank of America have all invested in crypto staffing divisions in recent years.

Fortune

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What are small business owners expecting in 2023 after a three-year roller coaster ride?

Small business owners haven’t known stability since early 2020.

Tribune News Service

Wall Street’s big banks score $1 trillion of profit in a decade

Malick Diop felt something shifting on Wall Street.

The Times of India

Bank hours on Christmas Eve 2022: Bank of America, Chase, Wells Fargo, and more

It’s your last chance to do any banking business until Tuesday.

Fortune

First round of bidding process for the Commanders closes this week

The first round of bids for a potential sale of the Commanders closes this week.

USA Today Sports Media Group

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Could Daniel Snyder keep the Commanders when all is said and done?

This week's league meetings have some less confident about Snyder selling the Commanders.

USA Today Sports Media Group

Goldman Sachs weighs 40% cut on investment banker bonuses

As Wall Street goes from feast to famine, Goldman Sachs is reportedly weighing the largest cuts to banker bonuses since the 2008 financial crisis

Fortune

NFL Owners Bracing for Snyder Playing Keep Away With the Commanders

There remains a scenario where Dan Snyder simply goes through the motions of preparing for a sale of the Commanders before keeping the team after all.

Sports Illustrated

Billionaire David Rubenstein says inflation won’t fall significantly until the unemployment rate is almost double what it is now

“The Fed cannot say publicly what I can say, and what others have said, which is that until we get unemployment to about 6%, we’re not likely to get inflation down appreciably,” he said.

Fortune

Report: Dan, Tanya Snyder Likely to Sell Commanders

The Washington co-owners hired Bank of America in November.

Sports Illustrated

I lost £150,000 to a fraudulent account the bank knew about

Bank of America was alerted three days before my first payment to an account I believed was a fixed-rate ‘bond’ with Prudential

The Guardian - UK

‘There is nothing special about 2%’: BofA says central bankers just made up their inflation target

“The evidence is that steady 4% inflation imposes very small additional costs compared to steady 2% inflation. Either way the economy adapts,” BofA’s global economist said.

Fortune

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Bangkok Post

Analysts see Fed rate hike of 0.5%

Analysts expect the Federal Reserve to raise interest rates by 0.5% in the middle of this month, putting pressure on stocks, gold and oil to continue their freefall.

Fortune

Bank of America chief doesn’t see the point of layoffs—let natural attrition do the trick

Many of Bank of America’s peers at Goldman Sachs and Morgan Stanley have already started culling their employees as dealmaking dries up.

Fortune

United Airlines CEO says he doesn’t see evidence of a recession: ‘The word wouldn’t be in my vocabulary.’

CEO Scott Kirby also suggested that the shift to hybrid work would help the airline, as it "makes every weekend a holiday.”

Asharq Al-Awsat

Asian Equities, Oil Prices Dragged by Recession Fears

Asian investors extended a sell-off across global markets Wednesday while oil held losses on growing fears Federal Reserve monetary tightening will tip the US economy into recession. The drop followed another day deep in the red for New York's three main indexes after the heads of Wall Street's leading banks…

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Fortune

Bank of America CEO says the latest jobs report supports his prediction of a 'mild' recession

“The belief was when the Fed started raising rates that there would be an immediate snap to the economy,” Brian Moynihan said. “That didn't happen.”

Tribune News Service

Biden’s state dinner for Macron includes notable VIP guests

WASHINGTON — Apple Chief Executive Officer Tim Cook, Bank of America CEO Brian Moynihan, KKR and Co. co-founder Henry Kravis and film producer Jeffrey Katzenberg were among the guests Thursday at President Joe Biden’s first state dinner honoring French President Emmanuel Macron.

Fortune

Bank of America sees inflation falling to this number by the end of next year—but it’ll take a recession to get there

Bank of America says a “mild recession” will raise the unemployment rate to 5.5% next year and cool inflation.

Daily Mirror

Man robs bank with a demand note written on the back of his own birth certificate

Michael Conley Loyd, 30, from Missouri, stormed into a Bank of America branch in Springfield in July, 2021, stole $754 and quickly escaped in a stolen black pickup truck

Benzinga

Residential Versus Healthcare REITs: Why Bank Of America Changed Its Ratings On These 5 REITs

A Bank of America analyst has changed his initial ratings on five real estate investment trusts: three are healthcare REITs and two are residential REITs.

Benzinga

A Bull And Bear Discuss The Status Of The U.S. Consumer After A Worse-Than-Expected Consumer Sentiment Report

According to Bank of America, consumer discretionary spending was up 2.9% in October year-over-year, but down from its September reading of 3.2%.

Benzinga

Is Zuckerberg's Obsession With The Metaverse Becoming A Problem For Investors?

Meta Platforms Inc (NASDAQ: META) shares jumped Wednesday after the company announced it is laying off more than 11,000 employees in an effort to c

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