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America’s biggest banks are offloading parts of their home loan businesses to machine-powered startups, as they try and fend off sagging profits

The business of buying a home has long been the dominion of banks, requiring time and human interaction. But amid mounting industry pressures, home lending is being delegated to the machines. In recent years, banks have been handing off key components of their mortgage businesses to scrappy tech start-ups armed with data and algorithms, betting…


BANK OF AMERICA: A trusted investing strategy is making a comeback from the wilderness, and young Wall Streeters are at the forefront of its profits

BANK OF AMERICA: A trusted investing strategy is making a comeback from the wilderness, and young Wall Streeters are at the forefront of its profits

There’s a rally beginning in stock picking, and it’s being led by Wall Street rookies. That’s the conclusion of Bank of America Merrill Lynch, which says financial advisers are putting more emphasis on choosing individual stocks instead of moving money to exchange-traded funds and passively managed funds. It’s a modest reversal of a longtime trend.…


What the experts expect from February reporting season

What the experts expect from February reporting season

Not everyone shares Sherwood’s outlook, however, with other professional investors tipping earnings to push the market into a sustained rally as stocks beat the expectations implied by their low valuations.”There’s been a lot of hot money on macro factors but a lot of these companies don’t really change too much,” says Atlas Funds Management chief…


The government shutdown could cause a disaster for the US economy if Trump follows through on his threat to continue the fight for ‘months’

The government shutdown could cause a disaster for the US economy if Trump follows through on his threat to continue the fight for ‘months’

President Donald Trump’s threat to shut down the government for “months” could do major damage to the US economy. Evan Vucci/AP Images Most economists agree that the government shutdown will weigh on US economic growth. But according to one economist, if President Donald Trump follows through on his threat to keep the government closed for…