• https://www.cnn.com/2024/01/12/investing/citigroup-layoffs-earnings/index.html
    https://www.cnn.com/2024/01/12/investing/citigroup-layoffs-earnings/index.html
    WWW.CNN.COM
    Citigroup to cut 20,000 employees | CNN Business
    Citigroup will lay off 20,000 employees over the next two years, CFO Mark Mason said Friday. The reduction comes after the company reported a $1.8 billion net loss for the fourth quarter of 2023, its worst quarter in 15 years.
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  • The Pro Kabaddi League (PKL) is a professional kabaddi league in India, featuring franchise-based teams representing various cities. It was founded in 2014 and has gained significant popularity, becoming one of the most-watched sports leagues in India.

    Key features of the Pro Kabaddi League:

    Franchise Teams: The league consists of teams owned by different individuals and organizations, each representing a city. These teams compete against each other in a round-robin format.

    Season Format: The league typically follows a season format where teams play against each other in a series of matches. The top-performing teams advance to the playoffs, and the eventual winners are determined in the final.

    Players: The league features top kabaddi players from India as well as international players. The teams go through an auction process to acquire players for each season.

    Auctions: Before the start of each season, a player auction is conducted where teams bid for players. This process allows teams to build their squads with a mix of experienced and emerging talents.

    Rules: The Pro Kabaddi League follows the standard rules of kabaddi, with slight modifications to enhance the entertainment value. The league aims to popularize and modernize the traditional sport of kabaddi.

    Televised Coverage: Matches of the Pro Kabaddi League are widely televised, contributing to the league's popularity. The coverage includes pre-match analysis, live broadcasts, and post-match discussions.

    Seasons and Champions: As of my last knowledge update in January 2022, multiple seasons of the Pro Kabaddi League had taken place, and different teams had emerged as champions in different seasons.

    The league has played a crucial role in popularizing kabaddi as a mainstream sport in India, and it has contributed to the growth of the sport's fan base. Please note that there may have been developments or changes since my last update in January 2022, and I recommend checking the latest sources for the most current information about the Pro Kabaddi League.
    The Pro Kabaddi League (PKL) is a professional kabaddi league in India, featuring franchise-based teams representing various cities. It was founded in 2014 and has gained significant popularity, becoming one of the most-watched sports leagues in India. Key features of the Pro Kabaddi League: Franchise Teams: The league consists of teams owned by different individuals and organizations, each representing a city. These teams compete against each other in a round-robin format. Season Format: The league typically follows a season format where teams play against each other in a series of matches. The top-performing teams advance to the playoffs, and the eventual winners are determined in the final. Players: The league features top kabaddi players from India as well as international players. The teams go through an auction process to acquire players for each season. Auctions: Before the start of each season, a player auction is conducted where teams bid for players. This process allows teams to build their squads with a mix of experienced and emerging talents. Rules: The Pro Kabaddi League follows the standard rules of kabaddi, with slight modifications to enhance the entertainment value. The league aims to popularize and modernize the traditional sport of kabaddi. Televised Coverage: Matches of the Pro Kabaddi League are widely televised, contributing to the league's popularity. The coverage includes pre-match analysis, live broadcasts, and post-match discussions. Seasons and Champions: As of my last knowledge update in January 2022, multiple seasons of the Pro Kabaddi League had taken place, and different teams had emerged as champions in different seasons. The league has played a crucial role in popularizing kabaddi as a mainstream sport in India, and it has contributed to the growth of the sport's fan base. Please note that there may have been developments or changes since my last update in January 2022, and I recommend checking the latest sources for the most current information about the Pro Kabaddi League.
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  • 64 US Bank Branches File To Shut Down In A Single Week; Are You Affected?
    November 27, 2023
    By Naveen Athrappully

    Big banks such as PNC Bank and JPMorgan Chase have filed to close several branch offices in multiple states amid a troubling pattern of rising branch shutdowns in recent years.

    Between Nov. 12 and 18, several banks filed to close branch locations, with PNC Bank with the most filings, according to data from the U.S. Office of the Comptroller of the Currency. Pittsburgh-based PNC Bank filed for 19 branch closures—five in Pennsylvania, four in Illinois, three in Texas, two each in Alabama and New Jersey, and one each in Indiana, Ohio, and Florida.

    JPMorgan Chase followed closely with 18 filings—three in Ohio, two each in Connecticut and South Carolina, and one each in 11 states, including New York, Illinois, Florida, and Massachusetts.

    Citizens Bank came in third with eight branch closure filings—six in New York, and one each in Massachusetts and Delaware. Minneapolis-based U.S. Bank filed for seven closures—three in Tennessee and one each in Missouri, Wisconsin, Ohio, and Illinois.

    Bank of America made five filings—two in New York and one each in Texas, Massachusetts, and California.

    Citibank filed for two branch closures, and Sterling, Bremer, First National Bank of Hughes Springs, Windsor FS&LA, and Aroostook County FS&LA made one filing each.

    Altogether, banks filed to shut down 64 branches.

    The recent closures are part of a long-term branch shutdown trend that has been ongoing over the past several years. A report from the National Community Reinvestment Coalition shows that between 2017 and 2021, 9 percent of all bank branches shut down. The closure rate doubled during the COVID-19 pandemic.

    According to data from S&P, there were 3,012 branch closures last year and 958 branch openings, leading to a net closure of 2,054 branches. This was the third consecutive year that net closings exceeded 2,000.

    One major factor that led to a surge in branch closures is the rise of digital banking, a trend that accelerated during the pandemic when people were stuck at their homes.

    A survey by the American Banking Association (ABA) conducted in September showed that 8 in 10 Americans used a mobile device to manage their bank accounts at least once in the previous month.

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    “Digital banking tools have made it more convenient and more secure than ever for consumers to manage their finances,” Brooke Ybarra, ABA’s senior vice president of innovation strategy, said, according to a Nov. 3 statement.

    Cost Saving, Negative Effects

    Going digital rather than expanding physical branch locations is also part of a cost-saving strategy for banking institutions. Opening a new site costs millions of dollars and several hundreds of thousands in annual recurring costs.

    Most of the operations done via a physical bank can now be done online. Digital transactions are cheaper than the costs incurred in transacting via bank tellers.

    On the flip side, the shutdown of bank branches can negatively affect customers, especially in small towns. Due to such closures, many towns have become “bank deserts,” where the nearest bank is more than 10 miles away.

    “When bank branches close, there are several adverse effects on the surrounding community. Small business lending and activity in the area declines. More people use alternative financial services that open them to unregulated and predatory financial practices. An important commercial tenant and employer are lost,” the National Community Reinvestment Coalition report said.

    “While consumers have embraced mobile and internet banking to one degree or another, they clarify that branches matter to them as well, and without branches nearby, they are more likely to be un- or under-banked.”

    A recent survey by Daily Mail found that 51 percent of Americans were either “very concerned” or “somewhat concerned” about the closure of bank branches.

    PNC Bank Closure

    PNC Bank registered the largest number of closure filings amid its heightened focus on cost-saving measures. During its second-quarter earnings call, CEO William S. Demchak said the bank is “going to have to take a hard look” at where it can “generate savings … without cutting the potential for growth.”

    At the time, Chief Financial Officer Robert Q. Reilly revealed that the institution was boosting the target of an expense reduction program by $50 million to $450 million. For next year, PNC Bank is targeting $725 million in expense cuts.

    PNC is the sixth-largest U.S. bank. The 19 branches that will be shut down are:

    202 N. Walnut St., Bath, Pennsylvania
    301 W. Trenton Ave., Morrisville, Pennsylvania
    14 N. Main St., Plains, Pennsylvania
    1969 E. 3rd St., Williamsport, Pennsylvania
    2 N. Mill St., New Castle, Pennsylvania
    321 Bel Air Blvd., Mobile, Alabama
    2811 Eastern Blvd., Montgomery, Alabama
    5650 S. Brainard Avenue, Countryside, Illinois
    2217 W. Market St., Bloomington, Illinois
    1949 E. Sangamon Ave., Springfield, Illinois
    505 West Liberty Street, Wauconda, Illinois
    8733 U.S. Highway 31 South, Indianapolis, Indiana
    528 Station Ave., Hadden Heights, New Jersey
    410 Main St., Orange, New Jersey
    115 E. Van Buren Ave., Harlingen, Texas
    407 S. Commerce St., Harlingen, Texas
    801 W. Kearney St., Mesquite, Texas
    1040 Mt. Vernon Ave., Columbus, Ohio
    1140 N. Main St., Gainesville, Florida
    In June, PNC shut 47 branches, followed by 29 closures in August. A spokesperson told The U.S. Sun at the time that the bank intends to shut down 147 locations as it focuses more on online banking. The closures were expected to make 60 percent of PNC’s banking business exclusively online.

    A spokesperson from the bank told the Philadelphia Business Journal that the 19 bank closures will take place on Feb. 16.

    Last month, the bank reported a drop in third-quarter profits and declared cutting roughly 4 percent of its workforce. The layoffs, which began on Oct. 6, will be completed by the end of the fourth quarter. The job cuts are expected to bring down the bank’s yearly personnel expenses by roughly $325 million or 5 percent.


    Above Phone De-Googled Private Communications: SHOP
    The bank also forecasts that its net interest income—the difference between the interest it receives on loans and the interest it pays on deposits—will shrink by 1 to 2 percent from current levels in quarter four. During the third quarter, net interest income had declined by 3 percent.

    “They (PNC Bank) recognize that there is definitely a headwind to the growth and their net interest income, mainly due to the higher deposit rates and higher funding costs,” Timothy Coffey, an analyst at Janney Montgomery Scott, told Reuters.

    “And so they’re trying to alleviate some of that headwind by doing what they can to cut their own non-interest expenses as a way to maintain their earnings.”

    Source: The Epoch Times via ZeroHedge

    Naveen Athrappully is a news reporter covering business and world events at The Epoch Times.

    Image: Pixabay

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    https://www.activistpost.com/2023/11/64-us-bank-branches-file-to-shut-down-in-a-single-week-are-you-affected.html
    64 US Bank Branches File To Shut Down In A Single Week; Are You Affected? November 27, 2023 By Naveen Athrappully Big banks such as PNC Bank and JPMorgan Chase have filed to close several branch offices in multiple states amid a troubling pattern of rising branch shutdowns in recent years. Between Nov. 12 and 18, several banks filed to close branch locations, with PNC Bank with the most filings, according to data from the U.S. Office of the Comptroller of the Currency. Pittsburgh-based PNC Bank filed for 19 branch closures—five in Pennsylvania, four in Illinois, three in Texas, two each in Alabama and New Jersey, and one each in Indiana, Ohio, and Florida. JPMorgan Chase followed closely with 18 filings—three in Ohio, two each in Connecticut and South Carolina, and one each in 11 states, including New York, Illinois, Florida, and Massachusetts. Citizens Bank came in third with eight branch closure filings—six in New York, and one each in Massachusetts and Delaware. Minneapolis-based U.S. Bank filed for seven closures—three in Tennessee and one each in Missouri, Wisconsin, Ohio, and Illinois. Bank of America made five filings—two in New York and one each in Texas, Massachusetts, and California. Citibank filed for two branch closures, and Sterling, Bremer, First National Bank of Hughes Springs, Windsor FS&LA, and Aroostook County FS&LA made one filing each. Altogether, banks filed to shut down 64 branches. The recent closures are part of a long-term branch shutdown trend that has been ongoing over the past several years. A report from the National Community Reinvestment Coalition shows that between 2017 and 2021, 9 percent of all bank branches shut down. The closure rate doubled during the COVID-19 pandemic. According to data from S&P, there were 3,012 branch closures last year and 958 branch openings, leading to a net closure of 2,054 branches. This was the third consecutive year that net closings exceeded 2,000. One major factor that led to a surge in branch closures is the rise of digital banking, a trend that accelerated during the pandemic when people were stuck at their homes. A survey by the American Banking Association (ABA) conducted in September showed that 8 in 10 Americans used a mobile device to manage their bank accounts at least once in the previous month. Activist Post is Google-Free — We Need Your Support Contribute Just $1 Per Month at Patreon or SubscribeStar “Digital banking tools have made it more convenient and more secure than ever for consumers to manage their finances,” Brooke Ybarra, ABA’s senior vice president of innovation strategy, said, according to a Nov. 3 statement. Cost Saving, Negative Effects Going digital rather than expanding physical branch locations is also part of a cost-saving strategy for banking institutions. Opening a new site costs millions of dollars and several hundreds of thousands in annual recurring costs. Most of the operations done via a physical bank can now be done online. Digital transactions are cheaper than the costs incurred in transacting via bank tellers. On the flip side, the shutdown of bank branches can negatively affect customers, especially in small towns. Due to such closures, many towns have become “bank deserts,” where the nearest bank is more than 10 miles away. “When bank branches close, there are several adverse effects on the surrounding community. Small business lending and activity in the area declines. More people use alternative financial services that open them to unregulated and predatory financial practices. An important commercial tenant and employer are lost,” the National Community Reinvestment Coalition report said. “While consumers have embraced mobile and internet banking to one degree or another, they clarify that branches matter to them as well, and without branches nearby, they are more likely to be un- or under-banked.” A recent survey by Daily Mail found that 51 percent of Americans were either “very concerned” or “somewhat concerned” about the closure of bank branches. PNC Bank Closure PNC Bank registered the largest number of closure filings amid its heightened focus on cost-saving measures. During its second-quarter earnings call, CEO William S. Demchak said the bank is “going to have to take a hard look” at where it can “generate savings … without cutting the potential for growth.” At the time, Chief Financial Officer Robert Q. Reilly revealed that the institution was boosting the target of an expense reduction program by $50 million to $450 million. For next year, PNC Bank is targeting $725 million in expense cuts. PNC is the sixth-largest U.S. bank. The 19 branches that will be shut down are: 202 N. Walnut St., Bath, Pennsylvania 301 W. Trenton Ave., Morrisville, Pennsylvania 14 N. Main St., Plains, Pennsylvania 1969 E. 3rd St., Williamsport, Pennsylvania 2 N. Mill St., New Castle, Pennsylvania 321 Bel Air Blvd., Mobile, Alabama 2811 Eastern Blvd., Montgomery, Alabama 5650 S. Brainard Avenue, Countryside, Illinois 2217 W. Market St., Bloomington, Illinois 1949 E. Sangamon Ave., Springfield, Illinois 505 West Liberty Street, Wauconda, Illinois 8733 U.S. Highway 31 South, Indianapolis, Indiana 528 Station Ave., Hadden Heights, New Jersey 410 Main St., Orange, New Jersey 115 E. Van Buren Ave., Harlingen, Texas 407 S. Commerce St., Harlingen, Texas 801 W. Kearney St., Mesquite, Texas 1040 Mt. Vernon Ave., Columbus, Ohio 1140 N. Main St., Gainesville, Florida In June, PNC shut 47 branches, followed by 29 closures in August. A spokesperson told The U.S. Sun at the time that the bank intends to shut down 147 locations as it focuses more on online banking. The closures were expected to make 60 percent of PNC’s banking business exclusively online. A spokesperson from the bank told the Philadelphia Business Journal that the 19 bank closures will take place on Feb. 16. Last month, the bank reported a drop in third-quarter profits and declared cutting roughly 4 percent of its workforce. The layoffs, which began on Oct. 6, will be completed by the end of the fourth quarter. The job cuts are expected to bring down the bank’s yearly personnel expenses by roughly $325 million or 5 percent. Above Phone De-Googled Private Communications: SHOP The bank also forecasts that its net interest income—the difference between the interest it receives on loans and the interest it pays on deposits—will shrink by 1 to 2 percent from current levels in quarter four. During the third quarter, net interest income had declined by 3 percent. “They (PNC Bank) recognize that there is definitely a headwind to the growth and their net interest income, mainly due to the higher deposit rates and higher funding costs,” Timothy Coffey, an analyst at Janney Montgomery Scott, told Reuters. “And so they’re trying to alleviate some of that headwind by doing what they can to cut their own non-interest expenses as a way to maintain their earnings.” Source: The Epoch Times via ZeroHedge Naveen Athrappully is a news reporter covering business and world events at The Epoch Times. Image: Pixabay Or support us at SubscribeStar Donate cryptocurrency HERE Subscribe to Activist Post for truth, peace, and freedom news. Follow us on SoMee, Telegram, HIVE, Minds, MeWe, Twitter – X, Gab, and What Really Happened. Provide, Protect and Profit from what’s coming! Get a free issue of Counter Markets today. https://www.activistpost.com/2023/11/64-us-bank-branches-file-to-shut-down-in-a-single-week-are-you-affected.html
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    64 US Bank Branches File To Shut Down In A Single Week; Are You Affected? - Activist Post
    Multiple states continue a troubling pattern of rising branch shutdowns in recent years.
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  • The question of whether LeBron James is better than Michael Jordan is a topic of great debate among basketball fans and experts, and there is no definitive answer. However, there are several arguments that can be made for why some people believe LeBron James is better than Michael Jordan:
    All-around game: LeBron James is considered to have a more complete game than Michael Jordan. He is a better rebounder and passer than Jordan, and is more versatile on the defensive end of the court. Jordan was a better scorer, but James has consistently shown the ability to impact the game in multiple ways.
    Statistics: LeBron James has better career statistics than Michael Jordan in several categories, including points, rebounds, assists, and field goal percentage. While Jordan has a higher career scoring average, James has more total points, rebounds, and assists.
    Team success: While Michael Jordan is often praised for leading the Chicago Bulls to six NBA championships, LeBron James has been to the NBA Finals more times than Jordan and has won championships with two different teams. James has also led several teams to the playoffs and has consistently been a contender for the championship throughout his career.
    Longevity: LeBron James has been able to sustain his high level of play for a longer period of time than Michael Jordan. Jordan retired multiple times during his career and played a total of 15 seasons, while James is currently in his 19th season and shows no signs of slowing down.
    Ultimately, whether someone believes LeBron James is better than Michael Jordan comes down to personal preference and opinion. Both players are considered to be among the greatest basketball players of all time and have achieved incredible success throughout their careers.
    The question of whether LeBron James is better than Michael Jordan is a topic of great debate among basketball fans and experts, and there is no definitive answer. However, there are several arguments that can be made for why some people believe LeBron James is better than Michael Jordan: All-around game: LeBron James is considered to have a more complete game than Michael Jordan. He is a better rebounder and passer than Jordan, and is more versatile on the defensive end of the court. Jordan was a better scorer, but James has consistently shown the ability to impact the game in multiple ways. Statistics: LeBron James has better career statistics than Michael Jordan in several categories, including points, rebounds, assists, and field goal percentage. While Jordan has a higher career scoring average, James has more total points, rebounds, and assists. Team success: While Michael Jordan is often praised for leading the Chicago Bulls to six NBA championships, LeBron James has been to the NBA Finals more times than Jordan and has won championships with two different teams. James has also led several teams to the playoffs and has consistently been a contender for the championship throughout his career. Longevity: LeBron James has been able to sustain his high level of play for a longer period of time than Michael Jordan. Jordan retired multiple times during his career and played a total of 15 seasons, while James is currently in his 19th season and shows no signs of slowing down. Ultimately, whether someone believes LeBron James is better than Michael Jordan comes down to personal preference and opinion. Both players are considered to be among the greatest basketball players of all time and have achieved incredible success throughout their careers.
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  • There will be a tidal wave of layoffs in the fast food industry over the next few years, as customer interaction will be increasingly handled by #AI instead of people.
    There will be a tidal wave of layoffs in the fast food industry over the next few years, as customer interaction will be increasingly handled by #AI instead of people.
    WWW.ACTIVISTPOST.COM
    Wendy’s Debuts Google-Powered Chatbot For Drive-Thru - Activist Post
    First, entry-level jobs. Other customer-facing jobs in jeopardy? Bank tellers, tax preparers, lawyers, financial advisors.
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  • MTV News is merely the latest in a series of media groups to face considerably layoffs. https://justthenews.com/accountability/media/mtv-shut-down-news-division-amid-paramount-layoffs
    MTV News is merely the latest in a series of media groups to face considerably layoffs. https://justthenews.com/accountability/media/mtv-shut-down-news-division-amid-paramount-layoffs
    JUSTTHENEWS.COM
    MTV to shut down news division amid Paramount layoffs
    MTV News is merely the latest in a series of media groups to face considerably layoffs.
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  • Pretty good NBA playoffs in the Western Conference with the Suns evening up the series with the Denver Nuggets at 2-2.
    Pretty good NBA playoffs in the Western Conference with the Suns evening up the series with the Denver Nuggets at 2-2.
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  • Who is coming out on top of the NBA Western Conference playoffs? Denver looks really strong ???? But the Lakers have some experience.
    Who is coming out on top of the NBA Western Conference playoffs? Denver looks really strong ???? But the Lakers have some experience.
    Like
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  • I'm not watching much of the NBA Playoffs because I'm at the beach ????

    But I'm curious how far LeBron and the Lakers go in this year's Playoffs.
    I'm not watching much of the NBA Playoffs because I'm at the beach ???? But I'm curious how far LeBron and the Lakers go in this year's Playoffs.
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  • Billion-Dollar Foreign Firms Flee China for Southeast Asia & India, Leading to Layoffs & No Orders.
    https://youtu.be/bnYNouQalyY
    Billion-Dollar Foreign Firms Flee China for Southeast Asia & India, Leading to Layoffs & No Orders. https://youtu.be/bnYNouQalyY
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  • The Miami Heat beat the Milwaukie Bucks in the first round of the NBA Playoffs - winning that series.

    Milwaukie was my pick to win it all... kinda got that one wrong lol
    The Miami Heat beat the Milwaukie Bucks in the first round of the NBA Playoffs - winning that series. Milwaukie was my pick to win it all... kinda got that one wrong lol
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  • https://www.naturalnews.com/2023-04-26-3m-mass-layoffs-in-preparation-recession.html #recession #employment #jobs #someeofficial #neoxian #somee #waivio
    https://www.naturalnews.com/2023-04-26-3m-mass-layoffs-in-preparation-recession.html #recession #employment #jobs #someeofficial #neoxian #somee #waivio
    WWW.NATURALNEWS.COM
    Manufacturing giant 3M announces mass layoffs in preparation for a recession
    Manufacturing conglomerate 3M announced massive layoffs on Tuesday, April 25, as part of another major restructuring plan influenced by the downturn in the American manufacturing sector and the possibility of a recession. The layoffs will affect around 6,000 staff around the world. According to 3
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  • The Lakers as the 7th seed are up on the 2nd seeded Grizzlies in the NBA Playoffs.

    The Lakers may take this series...
    The Lakers as the 7th seed are up on the 2nd seeded Grizzlies in the NBA Playoffs. The Lakers may take this series...
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