BLOOMBERG The bull-market rally in US stocks is about to run out of steam, according to Citigroup. Strategists at the bank led by Scott Chronert reiterated their call for the S&P 500 Index to tumble to 4,000 by year-end, and initiated a new target of 4,400 by mid-2024, or just below June 16’s 4,410 close. A lack of concrete earnings ...

BLOOMBERG Customers Bancorp Inc purchased $631 million of loans that belonged to Signature Bank, the latest example of a financial firm snapping up at a steep discount assets associated with a failed US lender. The purchase from the Federal Deposit Insurance Corp (FDIC) was at 85% of the portfolio’s book value, the West Reading, Pennsylvania-based bank said in a statement. ...

BLOOMBERG Nationwide Building Society and Atom Bank Plc announced increases in mortgage rates, joining a flurry of UK lenders who are raising prices in response to inflation. Nationwide said in an email that it would raise fixed rates by as much as 0.7%, while Atom Bank announced increases from 0.25% to 0.6%  on certain products due that same day. “With ...