Bloomberg Bank of America Corp (BofA) is struggling to build back its lending income as consumers, flush with cash from government stimulus programs, avoid taking on new borrowings. Loans and leases in the consumer banking unit fall 12% from a year earlier. Net interest income, on a fully taxable equivalent basis, was $10.3 billion last quarter, the bank said. That ...

Bloomberg Apple Inc is working on a new service that will let consumers pay for any Apple Pay purchase in installments over time, rivaling the “buy now, pay later” offerings popularized by services from Affirm Holdings Inc and PayPal Holdings Inc. The upcoming service, known internally as Apple Pay Later, will use Goldman Sachs Group Inc as the lender for ...

Bloomberg Apple Inc has asked suppliers to build as many as 90 million next-generation iPhones this year, a sharp increase from its 2020 iPhone shipments. The Cupertino, California-based tech giant has maintained a consistent level in recent years of roughly 75 million units for initial run from a device’s launch through the end of year. The upgraded forecast for 2021 ...