Microsoft said farewell to Internet Explorer on June 16, stirring a sense of panic among many businesses and government agencies in Japan that waited to update their websites until the last minute. In some cases, they had no choice but to use Internet Explorer because of clients’ systems used to handle orders. Read More...
Reuters
Banks rally after stress test, Bank of America underperforms
Shares in the biggest U.S. banks rallied on Friday after they passed the Federal Reserve’s annual health check, but Bank of America underperformed with test results implying it needs a larger-than-expected capital buffer, which could limit share buybacks and dividends. While the broader equity market also rallied on Friday, Wells Fargo & Co, up 7.5%, was the biggest gainer among the 34 lenders that underwent the Fed’s so-called stress test, which measures how they would fare in a hypothetical severe economic downturn. The group would have roughly twice the capital required under Fed rules in the downturn scenario, it said.
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