Sectors
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JPMorgan Wraps Up Big Year, Warns of Risks Ahead
JPMorgan Chase (JPM) reported fourth-quarter earnings Tuesday, wrapping up a record year even though its Apple Card deal with Goldman Sachs cut into profits. The bank made $13 billion in net income for the quarter, which included $2.2 billion in expected losses from the deal. Without those costs, net income would have been $14.7 billion.
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Wells Fargo Slides Despite Q4 Earnings Beat
Wells Fargo said fourth-quarter profit came in above Wall Street estimates, but the stock fell in premarket trading after interest income missed expectations. Net income for the quarter was $5.36 billion, or $1.62 per share, compared with $5.08 billion, or $1.43 per share, a year earlier. On an adjusted basis, the bank earned $1.76 per
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Bank of America Reports $7.6B Q4 Profit; Interest Income Lifts Results
Bank of America (BAC) beat fourth-quarter earnings expectations, helped by strong trading in volatile markets and record interest income. Shares were up around 2% in premarket trading. Net income came to $7.6 billion, or 98 cents per share, up from $6.8 billion, or 83 cents a year earlier. Analysts were expecting 96 cents per share.
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Digital Currencies and the Future of Banking
Central banks, financial firms, and technology companies are moving toward a more digital monetary system. Cryptocurrencies, stablecoins, and central bank digital currencies offer alternative mechanisms for payments and value storage. These technologies could reduce frictions in cross-border settlement, expand financial access, and enable new financial services. They also introduce serious tradeoffs in security, privacy, and
