Investments

The Honolulu-based bank is taking a $19.7 million pretax loss to rid its balance sheet of low-yielding investments. It joined a parade of banks that have made similar moves.

The Green Bay, Wisconsin-based bank will record a fourth-quarter loss after agreeing to sell $3 billion of low-yield loans and mortgages. The moves leave the bank well-positioned for 2025, CEO Andy Harmening said.

Economic forecasts include the possibility of higher inflation and slower growth that could stall future cuts to the federal fund rates.

Citigroup now operates Grupo Financiero Citi México and Grupo Financiero Banamex in Mexico. The New York-based bank is planning an initial public offering of Banamex as soon as regulators and market conditions allow for the public offering.

Industry observers say the U.S. securities industry's migration to next-day settlement in May 2024 was a technology success story, which has encouraged the U.K. and the EU to follow suit.

Natural disasters are becoming more frequent and more severe, and victims will always require support from their banks. A plan for delivering that support needs to be in place before disaster strikes.

Buy now/pay later popularity has been on the rise as more consumers are turning to short-term installment lending to finance everyday purchases. The Swedish financier will find out if that momentum will be a winner with investors in the U.S.

Donald Trump discussed various items related to the Fed and its independence and stated he would not nominate Jerome Powell for another term as chair. Join us on Nov. 15 at 2 p.m., Eastern, as Gennadiy Goldberg, head of U.S. rates strategy at TD Securities, discusses what a Trump presidency may mean for the Fed.

Treasury yields rose the day after President-elect Donald Trump was picked. The short-term result: It's harder for commercial real estate lenders and borrowers to find common ground.

The Swedish payments company ends months of speculation about whether Klarna would list. Analysts valued the company last month at about $14.6 billion.