64.8 F
Fort Worth
Saturday, September 26, 2020
- Advertisements -
Banking Banks battered by virus

Banks battered by virus

Other News

Exxon’s oil slick

Exxon Mobil is slashing its capital spending budget for 2020 by 30% due to weak demand caused by the COVID-19 pandemic and a market...

Tarrant County records another COVID-19 death

Tarrant County Public Health (TCPH) on Wednesday, April 8 reported that a resident of Euless has died as the result of the COVID-19 virus....

Judge rejects government’s bid to block airline-data merger

WASHINGTON (AP) — A federal judge has rejected a government attempt to block Texas-based Sabre Corp. from buying Farelogix Inc. in a $360 million...

Justice delayed: Virus crisis upends courts system across US

BOSTON (AP) — Courthouses shuttered. Thousands of trials on hold. Legal deadlines pushed.The coronavirus pandemic has crippled the U.S. legal system, creating constitutional dilemmas...

Bank stocks plummeted even more than the rest of the market this week, as investors fear the coronavirus outbreak will cause loans to go bad and bank profits to shrink. The KBW Bank Index, which tracks the largest banks in the country, is down more than 40% this year, nearly double the decline of the broad S&P 500 index. Banks are a proxy for the wider economy, and investors are fearful that companies impacted by the coronavirus will be unable to repay loans, and that businesses will slow their borrowing due to the outbreak. Banks are also getting hammered by falling bond yields, which have plummeted as investors flood into safe assets like Treasuries. The Federal Reserve has cut interest rates to reassure Wall Street, but lower rates mean banks cannot charge borrowers as much for loans. The yield on the 10-year Treasury has consistently traded at historic lows in recent weeks.

- Advertisements -
- Advertisements -

Latest News

Initial public offerings to debut next week include sporty Texas offering

NEW YORK (AP) — The following is a list of initial public offerings planned for the coming week. Sources include IPO ETF...

Probe into ‘discarded’ ballots becomes campaign outrage fuel

By CHRISTINA A. CASSIDY and MARK SCOLFORO Associated Press HARRISBURG, Pa. (AP) — The news release from a U.S....

Encore Bank announces DFW expansion; names Fort Worth president

Encore Bank Vice Chairman and President Phillip Jett announced Sept. 23 the expansion of Encore Bank into Dallas and Fort Worth and the hiring of...

Shaddock continues growth with acquisiton of Utah title insurance agency

Plano-based Shaddock National Holdings on Sept. 25 continued its series of acquisitions by adding US Title, the largest privately held title insurance...

Southside Bancshares to ring NASDAQ opening bell on Monday, Sept. 28

Southside Bancshares Inc. (Nasdaq: SBSI), the holding company of Southside Bank, will ring the Nasdaq Opening Bell on Sept. 28, 2020 from...