Tag: COVID-19

February 1, 2021

The global pandemic has taken its toll on brand value in the global banking industry, with the total valuation of The Banker/Brand Finance’s Top 500 Banking Brands 2021 ranking falling by 4.2%, to $1.27tn. This is the first time in […]

January 18, 2021

COVID-19 has become a catalyst for an acceleration amongst the everyday banking customer. ValuePenguin data shows 71% of US banking customers now regularly use online banking. What’s more, footfall in the branch has dipped, as customers stay away from personal […]

January 11, 2021

Interest rates could rise sooner than forecast as the economy recovers more quickly than expected from the throes of the Covid-19 damage, Atlanta Federal Reserve President Raphael Bostic said Monday. While most of his colleagues don’t see a rate hike […]

January 8, 2021

Over the past four trading sessions, performance of major bank stocks depicted a bullish picture. This optimism primarily seems to be driven by the hopes of more economic stimulus as the U.S. Congress confirmed Joe Biden’s victory in the Presidential […]

January 6, 2021

Mobile consumer trends have touched new heights with the outbreak of Covid-19 which has disrupted the global economy like no other with the trendline dipping with uncertainty. This disruption has given an opportunity to a lot of companies to increase […]

December 29, 2020

Alternative lenders struggled through long accreditation processes and dried up reserves, before eventually taking on loans which carry the potential risk of high default rates. Neobanks could no longer rely on interchange fees as a main source of income, prompting […]

December 22, 2020

Both the House and Senate on Monday passed a $2.3 trillion bill, including $900 billion in COVID relief and the rest to keep the federal government operating. The Senate vote was 92-6, with six Republicans voting against the 5,593-page bill […]

November 30, 2020

In the multibillion-dollar fight over insurance coverage for pandemic-related business losses, a Florida gynecologist succeeded where more than a dozen professional baseball teams and an iconic Hollywood restaurant failed. Since Covid-19 sparked government-ordered shutdowns in March, judges have dismissed more […]

November 20, 2020

JPMorgan economists now see an economic contraction in the first quarter due to the spreading coronavirus and related restrictions being imposed by states and cities. The new forecast is a departure from Wall Street’s widely held view that the first […]

November 17, 2020

Bitcoin is on a tear this year. The cryptocurrency just hit $17,000 — a level it hasn’t breached in nearly three years — continuing a wild run that’s reminiscent of its monster rally in 2017. The price of bitcoin was […]

November 13, 2020

The last thing bullish post-election season investors want to see is a nationwide lockdown to control the resurgent coronavirus under President-elect Joe Biden. “3,000 or 4,000 [Dow] points lower at least,” veteran strategist David Nelson of Belpointe Asset Management told […]

November 11, 2020

Economists and market analysts say that when President-elect Joe Biden takes the oath of office in January, he will inherit a battered economy. While most metrics of economic activity have risen from the record-shattering lows they hit in March and […]

November 10, 2020

The COVID-19 pandemic comes with one bright spot for workers’ compensation insurers: Fewer workers are being injured in motor vehicle accidents. A research brief issued by the National Council on Compensation Insurance projects that workers’ compensation claims caused by motor […]

November 10, 2020

There’s an obvious place they could look to for guidance: their local bank branches. Trusted with the savings and everyday spending of millions of customers, retail banks are ideally positioned to own the conversation around budgeting, savings, and debt reduction. […]

October 29, 2020

BRUSSELS – A vaccine scheme co-led by the World Health Organization is setting up a compensation fund for people in poor nations who might suffer any side-effects from COVID-19 vaccines, aiming to allay fears that could hamper a global rollout […]

October 23, 2020

The UK bank posted profit before tax of £1.1 billion, almost double the £507 million analysts had forecast. Provisions for bad loans at £607 million were also way below analyst expectation and 63% down on the previous quarter. However, the […]

October 19, 2020

The CARES Act partially stabilised the financial health of many families facing unemployment and other economic hardships in the wake of COVID-19. However, millions of immigrants and their families who pay taxes and provide essential services were not eligible for […]

October 15, 2020

The ongoing uncertainty around the Covid-19 pandemic has prompted the US Federal Reserve Board to announce another round of bank stress tests to see how large banks stand up against two scenarios featuring severe recessions. “The Fed’s stress tests earlier […]

September 16, 2020

According to UK Finance, its members reported 15,000 cases between January and June 2020. Criminals raked in more than £58 million using the technique. Impersonation scams occur when a victim pays a criminal claiming to be from a trusted organisation. […]

September 15, 2020

More than one-third of the American workforce freelance amid the Covid-19 pandemic, contributing $1.2 trillion to the U.S. economy, a study by Upwork revealed Tuesday. This was a 22% increase since 2019 and it was fueled in part by an […]