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US bank earnings dip 2 percent in 1Q amid low oil prices

low oil prices

WASHINGTON (AP) — The impact of low oil prices has continued to hobble the finances of U.S. banks, which posted increased loan losses in the first quarter driven by a huge jump in delinquent energy loans. U.S. bank earnings dipped 2 percent in the first three months of the year to $39.1 billion from $39.8 billion a year earlier, data ...

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Stocks move higher, led by technology and banks

stocks, wall street

NEW YORK (AP) — Stocks are climbing in morning trading Friday as investors respond to encouraging corporate news and dealmaking. The gains were broad. Eight of the 10 sectors of the Standard and Poor’s 500 index rose, led by banks and technology companies. KEEPING SCORE: The Dow Jones industrial average rose 112 points, or 0.6 percent, to 17,547 at 11:11 ...

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U.S. stock indexes wobble to a mixed finish

U.S. stock indexes wobble to a mixed finish

NEW YORK (AP) — U.S. stocks hardly budged Thursday and finished with a mix of small gains and losses. Banks and airlines rose on strong first-quarter reports, while consumer products companies struggled. The market wavered throughout the day. Stocks are coming off two big gains in a row and are trading at their highest levels of the year. “People are ...

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US stocks jump as JPMorgan gives banks a big boost

US stocks jump as JPMorgan gives banks a big boost

NEW YORK (AP) — U.S. stocks climbed again Wednesday as quarterly results from JPMorgan Chase gave banks a big lift. Economic news from China powered industrial and technology companies in the U.S. and stock exchanges overseas. JPMorgan Chase, the largest bank in the U.S., led a rally in financial stocks after its first-quarter results came in better than analysts expected. ...

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Another gain for US stocks, led by banks and tech companies

Another gain for US stocks, led by banks and tech companies

NEW YORK (AP) — U.S. stocks rose Wednesday as technology companies traded higher for the second day in a row and consumer companies gained steam as cruise lines rose. The beleaguered financial sector recovered some of its losses from earlier this year. Stocks started the day sharply higher, following a jump in European markets, although they returned some of those ...

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US stocks end a down week on an up note

US stocks end a down week on an up note

U.S. stocks ended a down week on an up note, finishing sharply higher on the strength of energy and financial shares. It was the market’s first up day since late last week. Despite the rebound Friday, the major indexes ended the week down about 1 percent. Oil jumped 12 percent, helping lift energy company shares. Banks shares soared, led by ...

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Impact of declining oil prices on banks

Banking

PETALING JAYA (The Star/ANN) — Oils sharp decline since June has left many banks looking at heavy losses and the estimated 2 billion pounds (US$3.12 billion) losses for British lenders may be just the tip of the iceberg. US and Canadian banks that have lent heavily to the sector on the back of the US shale boom could be nursing ...

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EU sanctions hit Russian oil companies, lawmakers

BRUSSELS (AP) — New European Union sanctions against Russia announced Friday toughen financial penalties on the country’s banks, arms makers and its biggest oil company, to punish Moscow for what the West sees as efforts to destabilize Ukraine. The EU measures, details of which were released Friday after a preliminary agreement Thursday, broaden the scope of previous penalties. The United ...

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