All is not quiet on the banking front. Look for a surge in bank mergers this year, observes Grumpy Editor.
Those financial institutions are on pace to combine at a level not seen since the financial crisis of 2008.
Banks so far this year announced more than $54 billion in deals through late last month vs. $17 billion in mergers a year prior, reports The Wall Street Journal.
While the economy has recovered in many ways from last year, loan demand continues low while profits from lending are slim.
The focus is on major regional banks this year.
IN CASE YOUR FAVORITE NEWS OUTLETS MISSED THESE…
BUMBLEBEES DESTINED FOR ENDANGERED LIST. Bumblebees in the U.S. soon could be declared an endangered species, according to the U.S. Fish and Wildlife Service in a proposed rule.
WORKING WOMEN FEEL BURNED OUT. In a Time magazine survey, 42 percent of women say they have consistently felt burned out at work in 2021 than in the prior year. A new report suggests pressure put on women to balance work and child care is leading to disproportionate levels of strain.
CARGO SHIPS WAIT TO UNLOAD. Dozens of cargo ships waiting in Los Angeles-Long Beach and New York ports face weeks of delays to unload amid surging demand for goods plus the ongoing impact of the labor shortage and the upcoming Christmas season.
PENALTIES IN WORKS FOR KILLING MIGRATIORY BIRDS. In efforts to protect declining bird populations, the Biden administration moves to restore criminal penalties for accidental killings of migratory birds.
RV DEMAND REMAINS STRONG. Demand for recreational vehicles remains strong. Elkhart, Indiana-based Thor Industries sales of recreational vehicles in the July quarter jumped 55 percent.
THE ONLY WAY TO FLY. A retired greyhound called Lewis flies business class on Singapore Airlines from Sydney, Australia, to Italy and celebrates his birthday during the journey when the crew throws a party at 33,000 feet.
WORLD WAR II VET GETS SURPRISE BIRTHDAY PARTY. A North Carolina-based club --- CarolinaCruzin4Jeeps --- gives Coy A. Shue, a World War II veteran who just turned 100 years old, a surprise birthday party.
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