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Tag Archives: oil loans

Low interest rates, troubled loans send bank profits lower

Low rates, troubled loans send bank profits lower

PHOENIX (AP) — 2016 is getting off to a lousy start for major U.S. banks. Energy loans are turning bad, low interest rates are making it hard to make profitable loans, and markets have been volatile. On the bright side, first-quarter results from banks, which started coming out this week, haven’t been quite as bad as many analysts feared. Banks ...

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U.S. stock indexes wobble to a mixed finish

Trading Floor at the New York Stock Exchange. (Image: Scott Beale / Laughingsquid.com via Flickr)

NEW YORK (AP) — U.S. stocks hardly budged Thursday and finished with a mix of small gains and losses. Banks and airlines rose on strong first-quarter reports, while consumer products companies struggled. The market wavered throughout the day. Stocks are coming off two big gains in a row and are trading at their highest levels of the year. “People are ...

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Energy loans likely to cause further losses for big banks

NEW YORK — The nation’s six largest banks have hit an oil slick. They have tens of billions of dollars of exposure to risky energy loans that won’t all be paid back because low oil prices have sapped the profits of oil companies. The value of those loans will have to be written down even further, and bank profits are ...

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