Outside the Box: A new accounting rule on loan losses could be disastrous for the economy
FASB’s new rule will find losses where none exist......»»
Banks baffle investors as art meets science in accounting rule
Like the myriad approaches governments are taking to tackle the coronavirus crisis, the way the world's top banks are calculating their potential losses also differs widely, with puzzling outcomes for investors......»»
Ray "Cash Is Trash" Dalio Says Global Economy Could Suffer $12 Trillion In Losses
Ray "Cash Is Trash" Dalio Says Global Economy Could Suffer $12 Trillion In Losses Two months after his disastrous "cash is trash" CNBC appearance from Davos, Ray Dalio again appeared on CNBC this mornin.....»»
Tide Goes Out for China’s Skinny-Dipping Banks
An accounting rule change and an economic slowdown are combining to magnify losses on loans and financial assets......»»
Fed proposes capital rule change to soften impact of new accounting standards
WASHINGTON (Reuters) - The U.S. Federal Reserve on Friday proposed revising bank regulatory capital rules to ease the impact of new international accounting standards for credit losses......»»
Berkshire Hathaway Swings to a Rare Loss on Unrealized Investment Hit
Warren Buffett’s Berkshire Hathaway swung to a rare loss in the first quarter, hurt by lower insurance premiums and the impact of an accounting rule change on unrealized investment losses......»»
The Wall Street Journal: Buffett’s Berkshire Hathaway books rare $1 billion loss on investments
Warren Buffett’s Berkshire Hathaway Inc. swung to a rare loss in the first quarter, hurt by lower insurance premiums and the impact of an accounting rule change on unrealized investment losses......»»
Called to Account: Tesla adjusts numbers for impact of new revenue rules that also helped it beat estimates
A new accounting rule helped electric car maker Tesla Inc. to post a first-quarter revenue beat, but the company also used the change to book a stealth adjustment to its running total of accumulated losses......»»
Called to Account: New accounting rule aims to solve problem highlighted by GE’s multi-billion-dollar insurance loss
GE’s $6.2 billion hit to income in January to catch up on losses on long-term care insurance contracts highlights the problem accounting standard-setters now say will be solved with some new rules, set to take full effect in 2021......»»
Strong third-quarter results for ATB Financial reflect challenges of Alberta economy
EDMONTON, Feb. 12, 2019 /CNW/ - Third-quarter results for ATB Financial show strong growth in revenue and a net income of $51.8 million for the quarter ending December 31, 2018, after accounting for loan loss prov.....»»
Stocks are headed for a decade-long "dead" zone with losses on par with the dot-com bust, fund manager says
The S&P 500 is in for a decade of weak returns as the economy "reeks of inflation," a top fund manager warns. A 30% correction to stocks wouldn't be surprising, according to investing legend Rob.....»»
What parts of the economy are still hurting? Bank loan data can tell us a lot
Albany-area quarterly bank data showing how many loans remain in deferral can tell us a lot about what industries are still hurting because of the pandemic......»»
Uber gross bookings hit all-time high of $19.5B as economy reopens
Uber narrowed its net losses from $2.93 billion to $108 million, primarily due to a $1.6 billion benefit from the sale of its ATG self-driving unit......»»
Stocks Extend Losses After Yellen Says "Rates Will Have To Rise"
Stocks Extend Losses After Yellen Says "Rates Will Have To Rise" Treasury Secretary Janet Yellen is speaking at The Atlantic's "Future Economy Summit" this morning - a speech she pre-recorded yesterday - a.....»»
Stocks end slightly lower after Fed meeting
Major stock-market benchmarks ended with small losses Wednesday after the Federal Reserve, as expected, left interest rates near zero and indicated it was in no rush to begin thinking about withdrawing monetary support to the economy. .....»»
Bank of America profit more than doubles on reserve release boost
Bank of America Corp reported a jump in first-quarter profit that breezed past estimates on Thursday as it released reserves it had set aside to cover potential coronavirus loan losses......»»
People have stopped paying their car loans, and it shows millions are struggling in this economy
While the government has frozen student-loan interest .....»»
Gold futures post back-to-back losses
Gold futures settled lower on Tuesday, with strength in the U.S. dollar and Treasury yields pushing prices down for a second session. "There is a degree of optimism around the vaccination rollout and the restarting of the economy,".....»»
Why the spiking bond yields driving sharp losses in tech stocks are not a long-term threat to the market, according to one Wall Street chief strategist
"With the economy enjoying a post-pandemic boom,.....»»
Spanish hospitality and leisure lost 345,000 jobs in the last 12 months, accounting for 90% of coronavirus job losses
Hospitality and leisure lost 345,000 jobs in the last 12 months and are the sectors most affected by the pandemic, accounting for 9 out of 10 jobs destroyed. While hospitality lost 18.9% of its jobs between Februa.....»»
PPP rule changes help get loans to small minority-owned businesses: ‘I’m glad somebody saw the light’
Biden administration changes to the Paycheck Protection Program have boosted interest in the program and loan .....»»