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
The embattled $264 bln lender missed estimates as loans, deposits, revenue and earnings all fell. Its boss Tim Sloan can take comfort that much of it stems from one-off hits and January’s Fed censure tied to his predecessor’s failures. But he’s yet to show he can reverse the slowdown.
A four-way merger battle has shaken up the highly fragmented industry meeting in Minneapolis this week. California is pushing smaller utilities together, and energy firms are looking at H2O deals, too. With $4.8 trln of water infrastructure spending needed, bigger looks better.
Treasury Secretary Steven Mnuchin made a boatload from buying the defunct $32 bln mortgage lender, which failed a decade ago this week. With the White House backing deregulation for smaller banks, IndyMac’s downfall and the ensuing mess offer a stark warning against overdoing it.