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Business Video

Bank of America trims net interest income guidance

Bank of America Corp lowered its annual net interest income guidance on Wednesday to reflect a weakened interest rate environment as the second-largest U.S. lender reported higher-than expected earnings fueled by strong consumer trends.

New man on the board to clean up Deutsche Bank's act

The Qatari-backed lawyer tasked with trying to draw a line under Deutsche Bank's regulatory scandals has risen rapidly at the German bank, jumping to the management board after three years as a "sparring partner" on the bank's supervisory body.

Wall Street finds blockchain hard to tame after early euphoria

Two years ago Nasdaq Inc and Citigroup Inc announced a new blockchain system they said would make payments of private securities transactions more efficient. Nasdaq Chief Executive Adena Friedman called it "a milestone in the global financial sector."

Business News

UK borrowing grows as new PM prepares to take over

Britain's budget deficit swelled in the first three months of the tax year, official data showed, putting the public finances on a shakier footing even before a new prime minister moves into Downing Street next week clutching costly spending pledges.