Thursday, 16 July 2020
News "hour"!: thursday-16july2020!
News "hour"!: thursday-16july2020!
...me thinks, the 'future' is getting "brighter"...!!!
Bank of America's Profit Slides as It Braces for Loan Losses
Bank of America posts second-quarter earnings about half of what it earned a year ago and joins other banks in beefing up its reserves for big loan losses.
M. COREY GOLDMANUPDATED:JUL 16, 2020 9:59 AM EDTORIGINAL:JUL 16, 2020
Bank of America (BAC) - Get Report on Thursday posted a second-quarter profit that was roughly half of what it earned a year ago and warned that it was bracing for substantial loan losses amid the coronavirus pandemic that has temporarily stalled what banks see is a pending wave of consumer and business loan defaults.
Bank of America said it earned $3.5 billion, or 37 cents a share, roughly half the $7.3 billion, or 74 cents a share, it earned in the comparable year-ago period. Analysts polled by FactSet had been expecting earnings of 28 cents a share.
Revenue net of interest expense fell 3% to $22.3 billion from $23.1 billion a year ago.
Provisions for credit losses, meanwhile, a measure of what the bank expects to potentially write off in soured loans and other investments, rose to $5.1 billion, the bulk of which was driven by a $4 billion reserve build, the bank said. That was on top of the nearly $4.8 billion it set aside at the end of its first quarter.
Calling it “the most tumultuous period since the Great Depression,” CEO Brian Moynihan said in a statement that “strong capital markets results provided an important counterbalance to the Covid-19-related impacts on our consumer business.”
'I think I'm pretty effective:' Fauci says he's staying in his job despite 'complicated' relationship with Trump USA Today|2 hours ago https://www.usatoday.com/story/news/politics/2020/07/16/anthony-fauci-says-he-has-complicated-relationship-trump/5449906002/
Top infectious disease expert Dr. Anthony Fauci batted away criticism from President Donald Trump and his allies and made it clear he did not think he would be fired despite he called a "complicated" relationship with the president.
GOP Scales Back Convention Plans, Relenting On Virus Restrictions NPR|2 hours ago Attendance will be limited to delegates for most of the convention, a far smaller crowd that President Trump had insisted on. Health and safety protocols will also be in place.
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Russia Hackers Are Linked to Sweeping Bid to Steal Vaccine Data Bloomberg on MSN.com|52 minutes ago Russian state intelligence is hacking international research centers that are racing to develop a Covid-19 vaccine, the U.K., U.S. and Canadian governments said.
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How Americans Became Part of the Trump Family
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How My Family Created the World's Most Dangerous Man by Mary L. Trump Simon & Schuster Here is part of an email alert that The New York Times sent to its readers over the weekend: "Breaking News: President Trump wore a mask publicly for the first time.
Queen Elizabeth's Christmas Messages! https://mega-times-oodles-telegraph-post.blogspot.com/p/queen-elizabeths-chrsitmas-me...
Update March 2020 - World Nuclear Warfare ARMAGEDDON - Ultimate State of NO-FEAR! https://en.wikipedia.org/wiki/Nuclear_warfare ...
. . sadly the poor of USA! . . .
Corona Virus 2020! - "in the making...!" Border Cams Canada/USA - Vancouver: . . . . . .
News " hour "!: thursday-16july2020! ...me thinks, the ' future ' is getting " brighter "...!!! Why Isn&...
covid-19 updates for august 2020! - new vaccines on the way! https://covid19.who.int/ ...covid-19 has been downplayed for a long time at t...