I’m Mike Brewer’s wife & I’m convinced he’s having a midlife crisis – he’s FLOGGING his gorgeous motors
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M&T Bank profit slumps 25% after interest income fall
M&T Bank posted a 25% drop in first-quarter profit on Monday as higher deposit costs reduced its interest income, and a turmoil in the commercial real estate (CRE) industry prompted it to set aside more rainy-day funds. Regional lenders have had to pay higher interest rates on deposits to prevent customers from fleeing to higher-yielding alternatives, such as money market funds. Buffalo, New York-based M&T Bank's net interest income - the difference between what a bank earns on loans and pays...
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China still ASML’s biggest market, but falling sales cause drop in profit
Amid the semiconductor industry’s slowdown and increasing geopolitical tensions, Dutch chip machine-maker ASML reported a decrease both in sales and profits. Europe’s most valuable tech company saw orders fall to €3.6bn in the first quarter of 2024, down from €9.2bn in the previous quarter. Its net profit also dropped to €1.2bn — a 37% decrease compared to Q4 2023. “We see 2024 as a transition,” ASML's President and CEO Peter Wennink said in a statement. Wennink expects a stronger...
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Bank of America’s 1Q profits fall 18% on higher expenses, charge-offs
NEW YORK (AP) — Bank of America said its first-quarter profits fell 18%, as the bank dealt with rising expenses due to the impact of higher interest rates. But the results beat analysts’ esti