(Reuters) – Bank of America Corp reported quarterly profit above analyst expectations on Monday as the second-largest U.S. lender cut expenses and benefited from growth in loans and deposits on the back of a strengthening economy. Noninterest expense dropped 5 percent in the quarter from a year earlier as the bank trimmed headcount and worked […]
CENTRAL bankers and economists have spilled much ink in recent years on the question of why wages have not grown more. The average unemployment rate in advanced economies is 5.3%, lower than before the financial crisis. Yet even in America, the hottest rich-world economy, pay is growing by less than 3% annually. This month the […]
Islamabad: Pakistan’s economy is set to surpass last year’s decade-high growth of 5.3 per cent in the current fiscal year 2017-18 but would remain short of the target set by the government, the country’s central bank said on Saturday. The economy will remain at risk of a widening current account deficit, which is a combination […]
NEW YORK (Reuters) – U.S. fund managers are betting that rising wages and the effects of the Republican-led corporate tax cut will prove a lifeline to middle-market retailers who have struggled to remain relevant in the age of Amazon. Wells Fargo, CM Advisors and Plumb Funds are among those asset management firms that are increasing […]