The Federal Deposit Insurance Corp. initially sought approximately $1 billion in unpaid assessments and another $1 billion in alleged profits from underreporting risk in its lawsuit against the Bank of America.
Provision for credit losses increased to $219 million during the quarter from $155 million in the same period a year ago, reflecting changes in macroeconomic factors and portfolio activity.
Total revenues rose 3% year-over-year to $21.59 billion compared to a Wall Street estimate of $21.29 billion, driven by growth in each of Citi’s five interconnected businesses.
Palantir’s Maven Smart System NATO (MSS NATO) will be employed within NATO’s Allied Command Operations (ACO), enabling a significant advancement in the modernization of its warfighting capabilities.
Total revenue rose 6% year over year to $15.06 billion and surpassed an analyst estimate of $14.71 billion, led by higher net revenues in Global Banking & Markets but partially offset by slightly lower net revenues in Asset & Wealth Management.
Sandoz is seeking an injunction to prevent Amgen from using patent rights to block biosimilar competition and allow Sandoz to launch its Erelzi “as soon as possible.”
GM informed the union of temporary layoffs starting April 14 at CAMI Assembly. Workers will return in May for limited production, and thereafter, production will cease again, with operations idling until October 2025, Unifor said.
Canada’s Competition Bureau is investigating allegations of conduct that can prevent or limit competition in the pharmacy retail market, including “patient steering” and “margin squeezing.”
Revenue rose 17% year-over-year to $17.74 billion during the quarter, surpassing a Wall Street estimate of $16.55 billion. Earnings per share stood at $2.6 versus an estimated $2.21.
