Bank

Was Wednesday A Super Spreader Event, One Bank Asks

From DB’s Jim Reid Wednesday was the busiest day at US airports since the pandemic began. The Transportation Security Administration screened  more than 1.07 million people at US airports on Thanksgiving eve. For context this number was still down 41% on the same Wednesday last year. We are very positive about the chance of a…

San Antonio Food Bank Doubles Amount Of People It Serves

By Tyler Durden Two Americas were visible on Tuesday as the Dow Jones Industrial Average crossed 30,000 for the first time. Simultaneously, hundreds of vehicles were snaked around a parking lot in Albuquerque, New Mexico, waiting in line at a local food bank. This suggests the K-shaped economic recovery, one where the rich grow richer and the…

San Antonio Food Bank Doubles Amount Of People It Serves 

Two Americas were visible on Tuesday as the Dow Jones Industrial Average crossed 30,000 for the first time. Simultaneously, hundreds of vehicles were snaked around a parking lot in Albuquerque, New Mexico, waiting in line at a local food bank.  This suggests the K-shaped economic recovery, one where the rich grow richer and the working-poor are crushed…

Deutsche Bank Mulls Permanent Remote-Work Requirements To Save On Rent

As Deutsche Bank CEO Christian Sewing looks to cut operating costs and headcount to try and meet lofty targets for return on shareholder’s tangible equity, he has apparently stumbled upon a novel approach that has been shunned by American rivals like JPM: Making ‘working from home’ a permanent part of Deutsche Bank’s ‘culture’. Source: Statista…

Growing Food Bank Lines Across America Signal Economic Crisis Far From Over

By Tyler Durden Millions of Americans face food and housing insecurity this holiday season. The unemployment rate stands around 6.9%, with more than ten million folks still out of work. Permanent job loss continues to soar, now about 3.8 million, as a double-dip recession becomes increasingly likely by year-end. We recently pointed out that food bank lines…

Growing Food Bank Lines Across America Signal Economic Crisis Far From Over 

Millions of Americans face food and housing insecurity this holiday season. The unemployment rate stands around 6.9%, with more than ten million folks still out of work. Permanent job loss continues to soar, now about 3.8 million, as a double-dip recession becomes increasingly likely by year-end.  We recently pointed out that food bank lines continue to increase…

“Gen Y Is Out, Gen Z Is In”: Why One Bank Thinks Gen Z “Are The New Global Influencers”

It seems like only yesterday that Wall Street was writing massive research reports how the Millennials were going to “make a difference” in the world as a result of their “pent up” purchasing power which was just waiting to be unleashed. Unfortunately, in retrospect the Millennials were a huge disappointment, having made absolutely no “difference”…

“Largest Distribution Ever” – Thousands Of Cars Lined Up At Texas Food Bank

By Tyler Durden According to CBS News, the North Texas Food Bank (NTFB) handed out more than 600,000 pounds of food this past weekend to 25,000 hungry people. Thousands of cars lined up to collect food in Dallas, Texas, over the weekend, stretching as far as the eye can see. pic.twitter.com/xLFGOcBkPK — CBS News (@CBSNews)…

“Largest Distribution Ever” – Thousands Of Cars Lined Up At Texas Food Bank 

According to CBS News, the North Texas Food Bank (NTFB) handed out more than 600,000 pounds of food this past weekend to 25,000 hungry people.  Thousands of cars lined up to collect food in Dallas, Texas, over the weekend, stretching as far as the eye can see. pic.twitter.com/xLFGOcBkPK — CBS News (@CBSNews) November 16, 2020…

Spain’s Santander In Talks To Buy Wirecard Bank, Other Assets Out Of Bankruptcy

Even though auditors eventually determined that roughly 2/3rds of Wirecard’s revenue (including practically all of its Asian business) was fraudulent, there are still a few businesses and assets, including Wirecard’s former European banking unit, and its payments software, that have been deemed valuable. And the company’s German bankruptcy trustee has been working to sell these…

Bank Analyst Puts Bitcoin Price Prediction “As High As $318,000”

Authored by Shaurya Malwa via Decrypt.co, In brief A senior Citi executive predicts Bitcoin may reach the six-figure price mark in 2021. Bitcoin’s rise has been similar to gold in the 1970s, the executive said. The rise of state-backed digital currencies also shows a changing regime, one that supports the growth of Bitcoin, he added….

Bay Area Food Bank Now Serves 500k Working-Poor As Demand “Doubles” 

The virus pandemic is threatening another lost decade, similar to the Great Recession of 2007-2009, or even the Great Depression of the 1930s, for America’s working poor. Widespread permanent job loss and the collapse of small and medium-sized enterprises have become a severe risk to the broader recovery – as the economic fallout from the…

In Stark Reversal To Wall Street Bullishness, Bank of America Now Says To “Sell The Vaccine”

To say that this week’s Pfizer virus news was seen by markets as positive for risk assets would be an understatement: according to BofA’s Chief Investment Strategist Michael Hartnett, this week’s inflow into equities was an all-time record of $44.5 billion… … which consisted of:  US equities $32.5bn inflow = 2nd largest ever; EM equities…

Deutsche Bank Proposes A 5% “Work From Home” Tax

By Tyler Durden At a time when the Fed is already monetizing the entire US budget deficit thanks to helicopter money, sparking conversations about the utility of taxation, and when a Biden administration is set to at least try and roll back most of the Trump tax cuts, the last thing the population wants to…

Erdogan Fires Turkish Central Bank Governor, Launching Full-Blown Currency Crisis

Back in July 2019, when Turkey’s economy was in freefall and its inflation was soaring following a historic currency crash in mid-2018, and shortly after Erdogan became a de facto executive and unopposed ruler of Turkey, the Turkish president had a brilliant idea: take decades of monetary orthodoxy and flip them on their head. Faced…

Deutsche Bank Wants To “Sever Ties” With Trump By Offloading Business Loans

Considering all the airtime that CNN and MSNBC have devoted to speculation about President Trump’s alleged ties to shadowy Russian financiers, the New York Times’ decision to publish all those details from the president’s tax returns has ironically proven that Trump doesn’t owe any substantial money to “Russia”. Rather, while Trump’s company owes millions of…