- Judge calls out banking industry for choosing Texas court to challenge credit card fee caps—’Venue is not a continental breakfast’ Fortune
- Texas judge transfers lawsuit over card fees to Washington, D.C. Reuters
- Biden administration would cap credit card late fees at $8, part of campaign against junk fees The Associated Press
- Texas judge transfers lawsuit over card fees to Washington, D.C AOL
- Plaintiffs in credit card late fee rule case ask Fifth Circuit to keep appeal even though the district court has scheduled a preliminary injunction hearing JD Supra
Tag Archives: banking
Worst of Recent Bitcoin (BTC) Correction Largely Behind Us, Says Banking Giant JPMorgan: Report – The Daily Hodl
- Worst of Recent Bitcoin (BTC) Correction Largely Behind Us, Says Banking Giant JPMorgan: Report The Daily Hodl
- Bitcoin price stability creates lucrative setups in TON, XMR, MNT and QNT Cointelegraph
- Bitcoin to hit $50,000 by the end of 2023 if this pattern is repeated Finbold – Finance in Bold
- Bitcoin Bears Asking To Be ‘Obliterated’ As BTC Flashes Reversal Signals, According to Crypto Strategist The Daily Hodl
- BTC Must Hold this Level, Otherwise $25K Breakdown is Likely (Bitcoin Price Analysis) CryptoPotato
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Why fears of a banking crisis were overblown — bad regulation is the real problem – New York Post
- Why fears of a banking crisis were overblown — bad regulation is the real problem New York Post
- Global Banking Collapse: How it Unfolded And What’s Next? Firstpost
- 4 massive bank failures in history and what caused them. Hint: War felled at least one Moneycontrol
- ‘How many banks are going to need to fail?’ – Matterhorn’s Matthew Piepenburg on financial contagion Kitco NEWS
- I keep hearing about bank deposits — but what happens to my investments if my broker or mutual fund company collapses? Here’s what you need to know Yahoo Finance
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Fed’s Collins on Inflation, Rates Path, Banking System – Bloomberg Television
- Fed’s Collins on Inflation, Rates Path, Banking System Bloomberg Television
- Fed officials call March rate hike ‘appropriate’ with inflation high, banks resilient Yahoo Finance
- Fed Pres. Susan Collins says she believes ‘some additional tightening’ is needed to fight inflation CNBC Television
- Fed’s Susan Collins signals additional rate hikes needed to fight inflation Fox Business
- Fed’s Collins welcomes ‘bit lower’ PCE inflation but says overall ‘not a lot of progress’ MarketWatch
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Minneapolis Fed president said recent banking turmoil brings recession closer – Star Tribune
- Minneapolis Fed president said recent banking turmoil brings recession closer Star Tribune
- Banking crisis threatens to ignite credit crunch for US households: What to know Fox Business
- Fed’s Kashkari says stress in banking sector brings the U.S. closer to recession CNBC
- Fed’s Kashkari echoes concerns of ‘credit crunch’ as fallout from banking turmoil WKRC TV Cincinnati
- Banking crisis has ‘definitely’ tipped the U.S. closer to recession, warns top Fed official who was at the center of the 2008 bailout Yahoo Finance
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$10,000,000,000,000 Asset Manager Touts Potential of Bitcoin and Crypto Amid US Banking Crisis – The Daily Hodl
- $10,000,000,000,000 Asset Manager Touts Potential of Bitcoin and Crypto Amid US Banking Crisis The Daily Hodl
- Silicon Valley Bank was warned by BlackRock that risk controls were weak Financial Times
- Blackrock CEO Warns More Bank Seizures and Shutdowns Could Result From Regulatory Changes – Economics Bitcoin News Bitcoin News
- World’s largest asset manager BlackRock is exploring ‘tokenization of stocks’ Finbold – Finance in Bold
- Tokenizing Stocks, Bonds And Others Could Boost Capital Markets’ Efficiency: BlackRock CEO NewsBTC
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RBC Capital Markets: Bank failures this week are not representative of the banking industry – CNBC Television
- RBC Capital Markets: Bank failures this week are not representative of the banking industry CNBC Television
- The global banking sector will see pressure until there’s clarity on liquidity concerns: Peter Kraus CNBC Television
- Regional banks will be a volatile group for some time, says Piper Sandler’s Siefers CNBC Television
- Apollo’s Jay Clayton weighs in on the DOJ and SEC’s investigations into SVB collapse CNBC Television
- Applying large banking regulations to small banks could cripple the sector: Mick Mulvaney CNBC Television
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Treasury Secretary Says Regulators Are ‘Looking For Solutions’ To Marijuana Banking Problem As Schumer Recommits To Addressing The Issue – Marijuana Moment
- Treasury Secretary Says Regulators Are ‘Looking For Solutions’ To Marijuana Banking Problem As Schumer Recommits To Addressing The Issue Marijuana Moment
- Feds Are ‘Weaponizing’ Bank Crisis to Kill Crypto: Rep. Tom Emmer Yahoo Finance
- US lawmaker suggests Signature’s collapse was tied to instability of crypto Cointelegraph
- Former FDIC Regulator: Friendliness Toward Crypto ‘Does Not Exist’ CoinDesk
- Janet Yellen Says Regulators Seeking Solutions For Marijuana Banking, Sen. Bennet Calls Cannabis More Sta Benzinga
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Dow Jones Dives 500 Points On Renewed Banking Fears As Credit Suisse Crashes 28% – Investor’s Business Daily
- Dow Jones Dives 500 Points On Renewed Banking Fears As Credit Suisse Crashes 28% Investor’s Business Daily
- Credit Suisse shares tank over 30% after Saudi backer rules out further assistance CNBC
- Government assistance is ‘not a topic’ for us, Credit Suisse chairman says CNBC International TV
- Credit Suisse’s biggest backer says can’t put up more cash; share down by a fifth Reuters.com
- Live stock market news: Stocks hit by bank contagion fears, Credit Suisse shares hit record low, fresh inflation, retail sales data | March 15, 2023 | Live Updates from Fox Business
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Shell posts profit of nearly $40 billion and announces $4 billion in buybacks
Hong Kong/London
CNN
—
Shell made a record profit of almost $40 billion in 2022, more than double what it raked in the previous year after oil and gas prices soared following Russia’s invasion of Ukraine.
Europe’s largest oil company by revenue reported adjusted full-year earnings of $39.9 billion on Thursday — more than double the $19.3 billion it posted in 2021 — driven by a strong performance in its gas trading business. The company’s stock was up 1.7% in London.
The company reported $9.8 billion in profit in the fourth quarter. Just over 40% of Shell’s full-year earnings came from its integrated gas business, which includes liquified natural gas trading operations.
Shell CEO Wael Sawan said the results “demonstrate the strength of Shell’s differentiated portfolio, as well as our capacity to deliver vital energy to our customers in a volatile world.”
The earnings are the latest in a series of record-setting results by the world’s biggest energy companies, which have enjoyed bumper profits off the back of soaring oil and gas prices.
ExxonMobil this week posted record full-year earnings of $59.1 billion. Last month, Chevron
(CVX) reported a record full-year profit of $36.5 billion.
That has led to renewed calls for higher taxation. Governments in the European Union and the United Kingdom have already imposed windfall taxes on oil company profits, with the proceeds used to help households struggling with rising energy bills.
Shell said it expected to pay an additional $2.3 billion in tax related to the EU windfall tax and the UK energy profits levy. The company paid $13 billion in tax globally in 2022.
Shell
(RDSA) also announced another $4 billion share buyback program and confirmed it would lift its dividend per share by 15% for the fourth quarter.
— This is a developing story and will be updated.