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An improving customer base and higher spending should help this company sustain its impressive growth.
Bank of America Corp said on Tuesday that it will give around 97% of its employees special compensation awards, most of which will be delivered in restricted stock units, according to an internal memo seen by Reuters. The total value of the awards is around $1 billion, reflecting the 47% increase in Bank of America's stock price last year, bank Chief Executive Brian Moynihan wrote in the note to employees. "For this year, the estimated value of these awards is multiple times higher than the prior cash awards," Moynihan wrote.
COMACHUEN, Mexico (AP) — Mexico’s remittances — the money migrants send home to their relatives — have soared in the past two years, and are now expected to top $50 billion for the first time once 2021's figures are added up. That would surpass almost all other sources of Mexico's foreign income. But as happy as the Mexican government is about the news — it calls the migrants “heroes” — the boom raises questions: Will Mexicans always have to emigrate? And is it sustainable, or just blip fueled i
BEIJING (Reuters) -Oil prices fell on Thursday as the U.S. dollar strengthened following signs that the U.S. Federal Reserve will tighten monetary policy in the world's biggest oil user. Futures pulled back amid a broader decline in financial markets triggered by the March interest rate increase telegraphed by the Fed and as the dollar climbed against its major peers. U.S. West Texas Intermediate (WTI) crude futures were down 83 cents, or 0.9%, to $86.52 a barrel, after falling by as much as 1.2% to $86.34.
TORONTO — Canada's main stock index posted its first gain in six days as it joined U.S. markets in staging comebacks from steep morning losses for a second day in a row. The S&P/TSX composite index closed up 19.68 points to 20,590.98 on Tuesday after losing more than 400 points in early trading. In New York, the Dow Jones industrial average ended the day down 66.77 points at 34,297.73 after being down more than 800 points. The tech-heavy Nasdaq composite lost 315.83 points at 13,539.30, while th
WASHINGTON (AP) — President Joe Biden pledged last week to chat more with everyday Americans and took an initial step Tuesday afternoon by visiting a gift shop and ice cream store in Washington's Capitol Hill neighborhood. Biden went shopping at Honey Made, a boutique that opened up last year amid the pandemic. The president perused the store, choosing a hoodie for his grandson and a necklace for his wife, Jill. He then picked up a mug with a picture of Vice President Kamala Harris on it. “I'll
TORONTO — Canada's main stock index gave up early gains but still posted a small increase as crude oil prices hit a more than seven-year high and the central bank kept its key interest rate in check. The Bank of Canada kept its key interest rate at 0.25 per cent, but warned higher interest rates are coming to help trim inflation from its hottest pace in three decades. Despite robust growth in the U.S. economy, an uneven global recovery, supply constraints, inflationary pressures, geopolitical te
RENO, Nev. (AP) — The U.S. government plans to capture more wild horses on federal lands this year than ever before, drawing sharp criticism from mustang advocates who hoped the Biden administration would curtail widespread gathers of thousands of horses annually across the American West. Bureau of Land Management Director Tracy Stone-Manning, known as an ally of conservationists on several public land fronts when she was appointed in the fall, says the agency plans to permanently remove at leas
The Canadian dollar edged higher against the greenback on Tuesday as some of the recent disquiet in financial markets eased a notch and investors prepared for a potential interest rate hike by the Bank of Canada. The loonie was trading 0.2% higher at 1.2615 to the U.S. dollar, or 79.27 U.S. cents, after trading in a range of 1.2598 to 1.2669. On Monday, it touched its weakest intraday level in more than two weeks at 1.2701 amid equity market turbulence.
Cryptocurrency shares are down, but some investors have seen it for the opportunity it is, especially as inflation and U.S. interest rates come into play. The post Cryptocurrency Crunch: Why Inflation Could Lead to a Rebound appeared first on The Motley Fool Canada.
Pfizer is enrolling healthy adults to test a reformulated COVID-19 vaccine that matches the hugely contagious omicron variant, to see how it compares with the original shots. Pfizer and its partner BioNTech announced the study on Tuesday. COVID-19 vaccine-makers have been updating their shots to better match omicron in case global health authorities decide the change is needed. Omicron is more likely than previous variants to cause infection even in people who’ve been vaccinated, but it’s not ye
TORONTO — Widespread capacity limits, venue closures and other government-mandated COVID-19 safety measures left Canada's performing arts sector facing a major financial downfall in 2020. A report this week from Statistics Canada says efforts to prevent the spread of the virus during the first year of the pandemic drove revenues to their lowest level since the federal agency began tracking the data in 2014. Overall, the performing arts industry's operating revenues plummeted 31 per cent to $1.8
Asian shares plunged to their lowest in nearly 15 months, short-term U.S. yields hit 23-month highs and the dollar strengthened on Thursday after the Federal Reserve's chairman signalled plans to steadily tighten policy. The share rout looked set to continue into European and U.S. trading. Pan-region Euro Stoxx 50 futures tumbled 2.88%, FTSE futures lost 1.98%, Nasdaq futures dropped 1.73% and S&P 500 e-minis shed 1.56%.
BERLIN (AP) — Germany's parliament on Wednesday began a debate on a possible wide-ranging coronavirus vaccine mandate, with three main options on the table so far: obligatory vaccinations for all adults, just for everyone 50 and above, or no mandate at all. German politicians of all stripes long insisted there would be no vaccine mandate. But the tide turned late last year amid frustration that a large number of holdouts was hampering the country's fight against COVID-19. Shortly before becoming
The stock market downturn has reiterated the need to have an all-seasons portfolio. With some risk, you can balance your returns. The post Top 3 Stocks to Build an All-Season Portfolio for Medium-Risk Investors appeared first on The Motley Fool Canada.
BERLIN (AP) — The German government on Wednesday cut its growth forecast for this year, but said that Europe's biggest economy remains “robust” and will return to its pre-pandemic size in 2022. The Economy Ministry predicted that gross domestic product will grow by 3.6%, down from the 4.1% Germany's previous government forecast in late October. The picture has been clouded since then by a steep new wave of coronavirus infections fueled by the highly contagious omicron variant. GDP grew 2.7% last
The Federal Reserve’s hawkish shift is bolstering the case for investors looking to trim risk from their portfolios, as the U.S. central bank trains its guns on surging inflation while giving little indication that it will be swayed by the latest weakness in stocks. After the Fed's easy-money policies helped the S&P 500 soar from its March 2020 lows, investors must now contend with uncertainty on multiple fronts as the Fed gears up to raise interest rates and shrink its nearly $9 trillion balance sheet. “The Fed is going to have to see a few more cards on inflation and the economy, and the uncertainty is high.”
THE HAGUE, Netherlands (AP) — Prime Minister Mark Rutte further eased the Netherlands' coronavirus lockdown, allowing bars, restaurants, museums, theaters and other venues to reopen from Wednesday for the first time this year. But Rutte warned that the move wasn't without risks. “We are taking a big step today to unlock the Netherlands while the infections numbers are really going through the roof,” Rutte said Tuesday. The announcement wasn't all good news for the beleaguered hospitality and cul
ATHENS, Greece (AP) — Army and municipal crews removed hundreds of vehicles Wednesday that had been stranded in snow for three days along a road linking Athens to the capital’s international airport, as authorities struggled to clear blocked thoroughfares and restore power to blacked out parts of the city. Heavy snowfall has caused major disruptions in Greece and neighboring Turkey, halting flights, blocking highways, and causing power outages. Snow blanketed Athens and much of the country on Mo
Although there can be near-term volatility, Nuvei (TSX:NVEI)(NASDAQ:NVEI) was getting some meaningful support from the market in yesterday's trading. The post Why Did Nuvei Stock Drop up to 11% on Monday? appeared first on The Motley Fool Canada.
SEOUL, South Korea (AP) — South Korea recorded more than 8,000 new coronavirus infections for the first time Tuesday as health authorities reshape the country's pandemic response to address a surge driven by the highly contagious omicron variant. The 8,571 new cases reported by the Korea Disease Control and Prevention Agency followed three straight days exceeding 7,000. With omicron spreading more than twice as fast as the delta strain that cause the last surge, experts say new cases may exceed