Dr. Atul Gawande, a surgeon who was named this week to head the company being formed by Amazon, Berkshire Hathaway and JPMorgan Chase to trim employee health care costs, on Thursday cited surgery as the single biggest U.S. health care cost and said there are ways to both cut costs and improve patient care.
Bank of America Corp.’s Merrill Lynch unit admitted to misleading brokerage customers about which firms processed their trades and agreed to pay a $42 million fine under a settlement with the U.S. Securities and Exchange Commission announced on Tuesday.
A proposal to simplify a rule banning banks from proprietary trading, rather than making life easier for Wall Street, could ensnare billions of dollars’ worth of assets not currently caught by the regulation.
The corporate tax cut passed by U.S. President Donald Trump and fellow Republicans that was in part designed to help dissuade U.S. companies from moving profits overseas may instead make the practice a lot more rewarding.
Wells Fargo & Co. said on Friday a district court in California approved a $142 million class-action settlement to compensate customers who were affected by a sales scandal related to the opening of phony bank accounts.
A Mexican real estate developer has filed a $1.2 billion lawsuit accusing JPMorgan Chase & Co. of fraudulently inducing it to transfer properties based on a false promise it would sell them.
Bank of America Corp.’s co-head of consumer and business banking said on Tuesday he expects the consumer banking unit’s efficiency ratio to remain flat or improve further as it cuts more costs tied to moving physical checks and cash.
With the Federal Reserve virtually guaranteed to raise interest rates this week, investors are focused on how the U.S. central bank characterizes its monetary policy as borrowing costs return to more normal levels amid an ongoing economic expansion.
At its Silicon Valley headquarters, network gear maker Cisco Systems Inc. is going to unusual lengths to take control of the relentless increase in its U.S. health care costs.
A U.S. bank regulator said on Thursday that an industry-wide review prompted by Wells Fargo & Co.’s sales practices scandal had uncovered some instances of phony accounts at other lenders but little evidence of a “systemic” problem.
Wells Fargo & Co. is pulling back from retail banking in the U.S. Midwest, selling all of its branches in three states, as the bank embarks on a broader review of branch profitability across the country.
U.S. regulators on Wednesday proposed simplifying a rule introduced after the 2007-2009 financial crisis that bans banks from trading on their own account in order to make compliance easier for many firms.
New applications for U.S. unemployment benefits increased more than expected last week, but continued to suggest that the labor market is tight.
The U.S. gun lobby is taking aim at “gun-hating” banks after Citigroup Inc. and Bank of America said they would no longer provide certain banking services to gun-makers, according to industry lobbyists.
A Goldman Sachs-World Bank Group partnership to provide capital to women entrepreneurs in emerging markets has reached $1 billion in investments, the institutions said on Friday, far surpassing their original goal of $600 million.
Fannie Mae, the largest U.S. home funding source, said on Wednesday it sold $1.5 billion of benchmark bills at higher interest rates compared with last week’s sale of similar maturities.
Royal Bank of Scotland has agreed to pay a smaller-than-expected $4.9 billion to resolve a U.S. investigation into its sale of mortgage-backed securities, paving the way for a long-awaited return of cash to UK taxpayers who bankrolled its post-crisis survival.
Wells Fargo & Co. on Thursday said it expects efficiency efforts to cut expenses by $2 billion annually in 2018 and 2019, and that the after-tax impact on net income of a regulatory cap on its assets will be less than $100 million in 2018.
U.S. producer prices barely rose in April after strong gains in the first quarter, held down by a moderation in the cost of both goods and services, which could ease fears that inflation pressures were rapidly building up.
Bank of America Corp. is preparing to provide critical financing to Remington Outdoor Co., which makes assault-type rifles, just weeks after the U.S. bank said it would stop financing “military-style” firearms for civilians.
