Antony Currie has more than a decade of experience as a financial journalist, having worked with Euromoney since 1996, most recently as a US editor. He has worked on assignments in the major financial centres of Europe and the US and written stories on capital markets, global economies and the investment banking industry. He holds a bachelor's degree in German language and literature and a master's degree in politics and international relations from the University of Bristol. Follow Antony on Twitter @AntonyMCurrie
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Executives reckon the airline’s worth $1 bln. If it can keep climbing at a fast clip and hold costs down, that’s possible. But the industry’s prone to regular painful downturns. And those using Richard Branson’s Virgin brand don’t have the best track record as public companies.
A $16.5 billion settlement with the U.S. government would resolve most of the bank’s mortgage woes. But CEO Brian Moynihan needs to find up to $10 billion extra a year to create a respectable bottom line. That will require costs cuts, tax breaks and higher interest rates.
Watchdogs have again rejected crisis breakup plans from the likes of JPMorgan and Goldman Sachs. Granted, this Dodd-Frank requirement is not as important as once thought. But if mega-banks can’t get it right, perhaps their smaller rivals’ restructuring units would have more luck.
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