Fifth Third Named to Newsweek's List of the Most Trustworthy Companies in America 2025
CINCINNATI, April 25, 2025 /3BL/ - Fifth Third (Nasdaq: FITB) has been recognized as one of the Most Trustworthy Companies in America 2025. This award is presented by Newsweek and Statista Inc.
'Fifth Third is dedicated to being the One Bank people most value and trust, and this recognition is a reflection of that commitment and the strong relationships our teams have built with our customers,' said Jamie Leonard, chief operating officer at Fifth Third. 'We are honored to be recognized as one of the Most Trustworthy Companies in America and look forward to continuing to earn our customers' trust every day by keeping them at the center of everything that we do.'
The Most Trustworthy Companies in America 2025 list was built on an innovative methodology consisting of two evaluation components:
The 700 companies with the highest score have been awarded as one of the Most Trustworthy Companies in America 2025.
About Fifth Third
Fifth Third is a bank that's as long on innovation as it is on history. Since 1858, we've been helping individuals, families, businesses and communities grow through smart financial services that improve lives. Our list of firsts is extensive, and it's one that continues to expand as we explore the intersection of techdriven innovation, dedicated people and focused community impact. Fifth Third is one of the few U.S.-based banks to have been named among Ethisphere's World's Most Ethical Companies® for several years. With a commitment to taking care of our customers, employees, communities and shareholders, our goal is not only to be the nation's highest performing regional bank, but to be the bank people most value and trust.
Fifth Third Bank, National Association is a federally chartered institution. Fifth Third Bancorp is the indirect parent company of Fifth Third Bank and its common stock is traded on the NASDAQ® Global Select Market under the symbol 'FITB.' Investor information and press releases can be viewed at www.53.com. Deposit and credit products provided by Fifth Third Bank, National Association. Member FDIC.
Visit 3BL Media to see more multimedia and stories from Fifth Third Bancorp
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Los Angeles Times
21 minutes ago
- Los Angeles Times
US stocks drift and Chinese markets rise as trade talks start between the world's largest economies
NEW YORK — U.S. stocks drifted through a quiet Monday as the world's two largest economies began talks on trade that could help avoid a recession. The Standard & Poor's 500 edged up by 0.1% and is within 2.3% of its record, which was set in February. The Dow Jones Industrial Average slipped by 1 point, which is well below 0.1%, and the Nasdaq composite added 0.3%. Officials from the United States and China met in London to talk about a range of different disputes that are separating them. The hope is that they can eventually reach a deal that will lower each's punishing level of tariffs against the other, which are currently on pause, so that the flow of everything from tiny tech gadgets to enormous machinery can continue. Hopes that President Trump will lower his tariffs after reaching such trade deals with countries around the world have been among the main reasons the S&P 500 has rallied so furiously since dropping roughly 20% from its record two months ago. It's back above where it was when Trump shocked financial markets in April with his wide-ranging tariff announcement on what he called 'Liberation Day.' This may be the shortest sell-off following a shock of heightened volatility on record, according to Parag Thatte, Binky Chadha and other strategists at Deutsche Bank. Typically, stocks take around two months to bottom following a spike in volatility and then another four to five months to recover their losses. This time around, stocks have basically made a round trip in less than two months. But nothing is assured, of course, and that helped keep trading relatively quiet on Wall Street Monday. Some of the market's biggest moves came from the announcement of big buyout deals. Qualcomm rallied 4.1% after saying it agreed to buy Alphawave Semi in a deal valued at $2.4 billion. IonQ, meanwhile, rose 2.7% after the quantum computing and networking company said it agreed to purchase Oxford Ionics for nearly $1.08 billion. On the losing side of Wall Street was Warner Bros. Discovery, which flipped from a big early gain to a loss of 3% after saying it would split into two companies. One will get Warner Bros. Television, HBO Max and other studio brands, while the other will hold onto CNN, TNT Sports and other entertainment, sports and news television brands around the world, along with some digital products. Tesla recovered some of its sharp, recent drop. The electric vehicle company tumbled last week as Elon Musk's relationship with Trump broke apart, and it rose 4.6% Monday after flipping between gains and losses earlier in the day. The frayed relationship could end up damaging Musk's other companies that get contracts from the U.S. government, such as SpaceX. Rocket Lab, a space company that could pick up business at SpaceX's expense, rose 2.5%. All told, the S&P 500 rose 5.52 points to 6,005.88. The Dow Jones Industrial Average slipped 1.11 to 42,761.76, and the Nasdaq composite rose 61.28 to 19,591.24. In stock markets abroad, indexes were modestly lower in Europe after rising across much of Asia. Chinese markets climbed even though the government reported that exports slowed in May, growing 4.8% from a year earlier after jumping more than 8% in April. China also reported that consumer prices fell 0.1% in May from a year earlier, marking the fourth consecutive month of deflation. Stocks rallied 1.6% in Hong Kong and rose 0.4% in Shanghai. In the bond market, the yield on the 10-year Treasury eased to 4.48% from 4.51% late Friday. It fell after a survey by the Federal Reserve Bank of New York found that consumers' expectations for coming inflation eased a bit in May. That provides some relief for the Fed, which has been keeping its main interest rate steady as it waits to see how much Trump's tariffs will raise inflation and how much they will hurt the economy. A persistent increase in expectations for inflation among U.S. households could drive behavior that creates a vicious cycle that only worsens inflation. Economists expect a report coming on Wednesday to show inflation across the country accelerated last month to 2.5% from 2.3%. Choe writes for the Associated Press.
CNBC
30 minutes ago
- CNBC
China's homegrown coffee giants are brewing up a U.S. expansion
Chinese beverage chains are redefining coffee culture in the country — and now they're trying to win over customers in the U.S. and beyond. Luckin Coffee, China's largest coffee chain, has expanded aggressively in China and overtaken Starbucks on the mainland, with more than twice as many outlets. Following an accounting fraud scandal that got the company delisted from the Nasdaq in 2020, Luckin has staged an unlikely comeback with quirky flavors and steep discounts — as low as $1.40 per cup during an earlier price war with rival Cotti Coffee. The Wall Street debacle hasn't dampened Luckin's ambitions in the U.S., where it still trades over the counter. After venturing into Singapore, Hong Kong and Malaysia, Luckin is set to take its biggest leap yet with plans to open a branch in lower Manhattan. The move mirrors Cotti's, which just opened outlets in Brooklyn and Manhattan. Founded in 2022 by former Luckin executives who were ousted over the scandal, Cotti has also grown rapidly in China and internationally, with stores in locations ranging from Southeast Asia to Dubai and California. "New York is probably culturally the best testing ground for an international brand to expand into, especially a Chinese one," said Bernstein Senior Analyst Danilo Gargiulo, citing the city's diversity and large base of young consumers. "But it's also the most saturated, one of the most competitive markets." Chinese chains combine budget pricing with unusual flavors that often blur the line between coffee and bubble tea — jarring to purists but extremely popular at home. Luckin said its alcohol-infused latte, developed with China's leading Moutai liquor maker, sold more than 5.4 million cups on its first day in 2023, generating over $13.7 million in sales. The company launched 119 different items in 2024 alone. Luckin has built its business around technology, allowing customers in China to order and get deliveries through the country's ubiquitous WeChat app, replacing the traditional cafe experience with hyper efficiency. The company also runs large coffee-bean roasting and processing operations in China to help drive down costs. The question is whether this will work in America. Luckin and Cotti did not respond to requests for comment from CNBC. On an earnings call in April, Luckin's co-founder Guo Jinyi said the company plans to "adopt flexible, locally tailored models" to steadily expand overseas. Slowing growth and intense competition in China has pushed companies to seek opportunities beyond its borders. From electric car makers to food delivery platforms, large-scale Chinese companies often follow a familiar strategy: burn cash, grab market share, worry about profit later. This helps them grow fast, but can infuriate global competitors. In the latest sign of increasing competition in China, Starbucks on Monday said it will lower the prices of dozens of drinks in the country by an average of $0.70 this summer. In New York, Cotti is selling drinks for 99 cents to first-time customers who download its app. Over time, analysts estimate that Luckin and Cotti will still be cheaper than Starbucks in the U.S., but the gap will be narrower than it is in China. Manhattan may share major Chinese cities' love for efficiency, but businesses there face New York wages and may need to accept additional payment options, adding to costs, said Allison Malmsten, China strategy director at Daxue Consulting. Tariffs on Chinese businesses may further erode their supply-chain advantages, she added. "There's a long list of things that could potentially drive the price up," Malmsten said. If Luckin's New York debut proves successful, the company could venture further afield. HeyTea — a Chinese chain known for topping its teas with foamy cream cheese — landed in New York in late 2023 and has since spread to Boston, Seattle and Los Angeles. Despite tensions between Washington and Beijing, Gen Z and younger Americans tend to perceive China differently to older generations, who may associate Chinese products with lower quality, according to Malmsten. Bargain coffee from Chinese chains could also appeal to New Yorkers facing rising costs on everything from groceries to coffee beans. Still, coffee shops that run on thinner margins need volume, analysts say. This means appealing to a wider range of customers. "If it's perceived as being only a touristy or exotic adventure, then it's not going to become part of your day-to-day consumption, it's not going to become part of your morning routine," Bernstein's Gargiulo said.
Yahoo
35 minutes ago
- Yahoo
Mullen CEO David Michery doubles down on commercial EVs after buying out Bollinger
DETROIT — After speaking with Mullen Automotive CEO David Michery for close to an hour, you get the impression he would be a formidable poker player. If there's the slightest chance that he holds the winning cards, no matter what's face up on the table, he's not likely to fold. And that's the way Michery, 58, is approaching his financially challenged electric vehicle startup, Mullen Automotive of Brea, Calif. Michery sat down with reporters from Automotive News and Crain's Detroit Business on June 4 at Mullen subsidiary Bollinger Motors' headquarters in Oak Park, Mich. Michery didn't flinch or give an inch under tough questions that probed his company's finances and why he remains determined to crank up production of EVs when the business case that justified their investment has, in part, been upended by tariffs and changing government policies. Sign up for the weekly Automotive News Mobility Report newsletter for the latest developments at the intersection of transportation and technology. Dressed in a black T-shirt and weathered blue jeans, wearing a gold watch and showing a smattering of colorful tattoos on his arms, Michery doesn't look like a traditional automotive CEO. He doesn't act like one, either. In the last 60 days, after Mullen stock twice sank to less than a nickel a share, Michery orchestrated two reverse stock splits to keep Mullen Automotive's shares in Nasdaq compliance. He gave away an unused 675,000-square-foot plant in Indiana to a creditor — which Mullen got in 2022 in its $240 million purchase of bankrupt Electric Last Mile Solutions, another failed EV startup. On June 3, Michery settled a lawsuit filed by Bollinger Motors founder Robert Bollinger, paying him $11 million and acquiring 95 percent of the company's shares. Michery essentially runs both Mullen Automotive and Bollinger Motors on the generosity of an unnamed benefactor who cuts a check for $1.5 million per week to the company and a $150 million line of credit that the company draws upon. That investor's total cash infusion into Mullen is more than $800 million, according to court documents. Michery believes the difficult market for EVs is temporary and his strategy is to wait out the tariff negotiations while positioning Mullen and Bollinger for big production increases. Virtually all Mullen and Bollinger vehicles contain significant Chinese-sourced components. Here is an edited transcript of the interview with Automotive News Reporter Richard Truett and Crain's Detroit Business Reporter Kurt Nagl. A: A lot of those losses are noncash losses. There's no excuse. EVs are out of favor right now. We have invested about $900 million since going public in 2021. The company has survived when no one else has. It's a testament to our resiliency and our ability to withstand the most awful market conditions in the last 20 years. It's no excuse for [our] performance, but if you look at the major OEMs, like General Motors and them shutting down the [Chevrolet] Bolt, that should tell you all you need to know. Backing off of EVs is something we haven't done, and we believe that is a viable space. Our core investor is a multibillionaire who is committed to the company. It's not going to go nowhere. I am a fighter. I don't give up. I like to believe that you have to kill me to stop me. The whole purpose of me buying Bollinger for $148.2 million initially and then investing another $77 million was because I believe in the B1 and the B2. This was never about a commercial vehicle, the B4. When I bought the company, it was about B1 and B2. I still stand firm and believe there is a big market for the B1 and B2 at some point in time. But we have to crawl before we walk and walk before we run. We are going to establish the commercial business, not only on the Bollinger side with the B4 and the B5, but on the Mullen side with the Class 1 and Class 3. We believe we will monopolize the commercial segment. I am determined to move Bollinger forward. I believe in the product. I believe in American engineering. Here in Detroit is the foundation of the electric car business, in general. Bollinger is, in my opinion, one of those brands that, realistically, will outlast everyone. We are banking our bet on Bollinger and their products because it is American engineered, American built and it is done here, in the great state of Michigan. To be clear, Bollinger was paused temporarily. The company is in the process of ramping production back up. We believe we will be in position to deliver new, upgraded vehicles within a 10-week period. We have over 40 vehicles in inventory that are ready to go to customers. We are working on cleaning up Bollinger's supply chain. We are also looking at getting the B5 ready. We are looking at all our best opportunities to give us maximum potential to not disrupt manufacturing. But, more importantly, scale to a level where I believe this is going to become a hot commodity. I want to produce hundreds of thousands of these [B4s]. In order to do that, you have to have the mechanism to go into high volume production. Roush. Let's be real. It's a low-volume manufacturing line. I want to move to high-volume production. That may be at Roush. Maybe I will acquire a high-volume manufacturing facility that could support ramping high-volume production for B4 and B5. There's a story behind that. You can't blame Bollinger for the current market. And you can't blame Bollinger for tariffs. And you can't blame Bollinger for Robert Bollinger filing this frivolous lawsuit. That hurt the company. But we have to set a clear narrative that Bollinger is going to move aggressively forward. It has customers. It has support. And it has a great product. There's a demand for the product and we will prove that. We have a $150 million equity line of credit. We've had it for about six months and we've only used about $1 million. That's an instrument that allows us to use our stock as currency. Picture that as a credit card. Mullen has a $150 million credit card that it can use at will. There's also three instruments that are preferred that total $80 million. We have another $80 million of firm, committed capital that we draw down on. We're like everyone else running our cash flow based on … again, we draw down on our instrument. We pay when we pay. Typically, we try to pay people within 30 [days], and we have been. We are no different than General Motors. Ask GM what is the timing of their [accounts payable]. Probably 60-90 days. We are paying people. We are still producing. We still own our factory. We have no debt against us. We are in a much better position than everyone else because we don't owe anything on what we own. Founded: 2021 CEO: David Michery Company headquarters: Brea, Calif. Plants: Tunica, Miss.; contract manufacturer, Roush Enterprises, Livonia, Mich. Products on sale: Bollinger B4 electric chassis cab; Mullen One electric cargo van; Mullen Three Class 3 commercial electric truck; Mullen Campus compact electric cargo van Products in development: Bollinger B1 and B2 consumer off-road utility electric vehicles; B5 and B6 chassis cab electric commercial trucks; Mullen Five electric crossover Financials: $7.9 million in revenue for 6-month period ending March 31; $162 million net loss; $2.3 million cash on hand Have an opinion about this story? Tell us about it and we may publish it in print. Click here to submit a letter to the editor.
