At least four pending deals have been canceled since the economy was locked down to slow the pandemic's spread. With banks' market values falling and loan-loss provisions piling up, more terminations are likely.
Despite record low mortgage rates, borrowers are having trouble getting loans from wary lenders; the underperforming American unit may be ditched in U.K. bank restructuring.
The Pittsburgh company’s sale of its stake in the asset manager yielded billions of dollars that could cushion the pandemic’s economic blow and eventually help fund a big acquisition.
The regional wants to “play offense” with the proceeds of its $17 billion BlackRock stake; shares of some bank shares jumped 6% Thursday but remain well behind the rest of the market.
