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Citigroup may benefit less from tax cuts than other U.S. banks

Citigroup Inc stands to get less of a profit boost than other big U.S. banks from lower corporate tax rates expected from the new government in Washington. A number of bank stock analysts have worked through broad tax proposals by Republicans and President-elect Donald Trump and estimate that a new tax law could increase Citigroup earnings per share only half as much as some rivals. At the same time, Citigroup may have…

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Citigroup may benefit less from tax cuts than other U.S. banks

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Revenue growth lifts UPS profit, confirms 2016 outlook

By Nick Carey CHICAGO (Reuters) – United Parcel Service Inc reported a higher quarterly net profit on Friday that met analyst expectations as revenue grew across its business units, and the company reaffirmed its full-year earnings outlook despite global economic uncertainty. Like other package delivery companies, UPS has benefited from a rapid rise in ecommerce, but has also struggled to bring down the extra costs associated with making stops at individual residential addresses rather than at businesses. …

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Revenue growth lifts UPS profit, confirms 2016 outlook

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Oil rally to resume later this year, demand to offset glut: Reuters poll

A survey of 29 economists and analysts forecast Brent crude will average $45.51 per barrel in 2016, up marginally from last month's forecast of $45.20, and about $3.55 higher than the $41.96 average so far this year.     “We project solid global demand growth in 2016 (1.4 million barrels per day), and a reasonable growth in 2017 (+1.1 MMBbl/d), mostly driven by China, India and Africa. As such, demand should help to drive prices higher,” said Raymond James analyst Luana Siegfried.

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Oil rally to resume later this year, demand to offset glut: Reuters poll

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Credit Suisse to create U.S. banking business for billionaire

Credit Suisse Group AG , which exited its U.S. private wealth business last year, is building out a new investment banking group in the region to serve billionaires. Switzerland's second-biggest bank has hired Charlie Buckley from rival UBS Group AG to work with

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Credit Suisse to create U.S. banking business for billionaire

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JP Morgan to pay $307 million to settle SEC, CFTC charges over disclosures

By Sarah N. Lynch WASHINGTON (Reuters) – JP Morgan Chase will pay $307 million settle two U.S. government cases that charged the bank with failing to disclose certain conflicts of interest to some of its wealth management clients, U.S. regulators said Friday. The Securities and Exchange Commission said that two of the bank's …

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JP Morgan to pay $307 million to settle SEC, CFTC charges over disclosures

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Major U.S. banks raise prime rates after Fed rate hike

(Reuters) – Major U.S. banks raised their prime rates, a benchmark for a wide range of consumer and commercial loans, for the first time since 2006 on Wednesday, following a rate hike from the Federal Reserve. Banks including Wells Fargo & Co , JPMorgan Chase & Co and Bank of America Corp raised their prime rates

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Major U.S. banks raise prime rates after Fed rate hike