Bank of America Corp. Chief Executive Officer Brian Moynihan said his firm’s strategists are still expecting a soft landing for the US economy rather than a recession, a prediction spurred by continued strength in consumer spending. “We won’t have a recession,” Moynihan said Wednesday at a lunch hosted by the Economic Club of New York, noting that consumer spending has softened since earlier this year but remains strong, and that Bank of America customer savings continue to be robust as...

Consolidation in the US banking sector is likely to be stymied by high interest rates and regulatory pressures, according to Citizens Financial Group Inc. Chief Executive Officer Bruce Van Saun. “Right now you will not see a whole lot of acquisitions because, with rates as high as they are, the deal math does not work very well, and it is still opaque in Washington as to what their posture is,” Van Saun said in a Bloomberg Television interview Wednesday. That uncertainty will keep deals muted...

(Bloomberg) -- Month after month, Bank of America Corp.’s trading floors appeared to be faltering in their push to grab market share early last year, when the head of the business took the mic at a town hall meeting. Most Read from Bloomberg Huawei Is Building a Secret Network for Chips, Trade Group Warns Musk Told Pentagon He Spoke to Putin Directly, New Yorker Says Goldman Is Cracking Down on Employees That Aren't in Office Five Days a Week Borrowers With $39 Billion in Student Loans...

After striking a first-of-its-kind deal to buy renewable energy tax credits, Bank of America Corp. is carving out a role as broker for the incentives under a plan that gives firms tax breaks for financing clean-power projects. The second-largest US bank has agreed to buy $580 million in tax credits from IRG Acquisition Holdings, a partnership between renewables developer Invenergy and investors Blackstone Inc. and CDPQ. IRG in turn used money from the deal to buy a portfolio of renewable...

Jefferies Financial Group Inc. will donate money generated by its global trading business to support people impacted by the deadly wildfires in Maui, Hawaii. The investment bank will donate 100% of net global trading commissions made on Wednesday, Aug. 16 from trading in equities and fixed income, it said Monday in a statement. The bank will also donate $1 million directly and give its 5,300 employees the opportunity to make personal donations. “We are devastated by what we have seen from the...