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Morgan Stanley s international wealth head Jesse departs spokeswoman
By Olivia Oran Reuters The head of Morgan Stanley s N MS international wealth management team James Jesse has left the firm a spokeswoman said on Friday Colbert Narcisse who led product strategy and development in Morgan Stanley s investment solutions division will replace Jesse according to a firm memo an...
JPM
U S bank stock gains may stall after two year rally
By Sin ad Carew Reuters After two years of sharp gains for U S bank stocks investors betting on another big boost for 2018 may be disappointed unless loan growth accelerates or regulations slacken considerably The S P 500 bank sector index beat first quarter earnings estimates by 3 1 percent and Wall Street s...
JPM
Campbell Soup CEO quits company cuts forecast to review portfolio
By Nivedita Balu and Siddharth Cavale Reuters Campbell Soup Co Chief Executive Officer Denise Morrison unexpectedly stepped down on Friday as the company issued a bleak forecast for the year and said it would embark on a review of its many brands Campbell s shares slumped 12 percent in mid afternoon trading hit...
JPM
Sanctions hit Vekselberg repays 1 billion Swiss franc loans to Western banks
By Brenna Hughes Neghaiwi and Polina Ivanova ZURICH MOSCOW Reuters Sanctions hit Russian oligarch Viktor Vekselberg and his Renova Group have repaid loans amounting to over one billion Swiss francs 1 billion to banks including JPMorgan NYSE JPM Credit Suisse SIX CSGN and UBS Renova and a source familiar ...
JPM
Don t neglect to pay the middleman How Shell and Eni ended up on trial
By Libby George and Shadia Nasralla LONDON Reuters Seven years ago two middlemen launched civil lawsuits to seek payment for helping arrange a 1 3 billion oil deal in Nigeria Now nine current and former executives or contractors from Italy s Eni MI ENI and British Dutch giant Royal Dutch Shell L RDSa inclu...
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Ruble Fluctuates as Russia Awaits Fresh U S Sanctions on Syria
Bloomberg The ruble swung between gains and losses as investors braced for the announcement of new U S sanctions aimed at punishing the Kremlin for its backing of Syrian leader Bashar al Assad Traders are reassessing their options after the harshest U S sanctions to data sent the ruble tumbling the most since 2...
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Citigroup Seeking Bitcoin Pros to Staff up AML Team
Citigroup NYSE C is looking for professionals with a background in Bitcoin to beef up their anti money laundering team The financial services company has posted looking for a vice president and senior vice president for its anti money laundering division Among the required qualifications for the posts Citigrou...
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Bitcoin Rises Crypto Funds Report Losses in Q1
Investing com Bitcoin and other virtual coins were higher on Thursday while cryptocurrency hedge funds reported massive losses in the first quarter of 2018 Bitcoin was trading at 8 250 5 rising 1 77 as of 9 00 AM ET 1 00GMT on the Bitfinex exchange While Bitcoin was higher it was still far from its peak of ...
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HSBC Gets Warning From Bank Of England Over Conduct Issues
HSBC Holdings LON HSBA plc NYSE C recently received a warning for the second time since the last year from the Bank of England for not being able to handle non financial risks properly The news was first reported by Bloomberg citing people with knowledge of the matter The non financial risks mentioned include f...
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Why Is Citigroup C Up 6 4 Since Last Earnings Report
A month has gone by since the last earnings report for Citigroup C Shares have added about 6 4 in that time frame outperforming the S P 500 Will the recent positive trend continue leading up to its next earnings release or is Citigroup due for a pullback Before we dive into how investors and analysts have react...
MPC
U S crude breaks below 40 as oil ends down 4 percent on glut
By Barani Krishnan NEW YORK Reuters U S crude tumbled below 40 per barrel on Monday for the first time since April as oil prices settled down nearly 4 percent on heightened worries of a crude glut despite peak summer fuel demand A near 15 percent slump in U S crude prices in July the worst monthly loss in a y...
MPC
Icahn urges EPA to change renewable fuel credit market
Reuters Billionaire investor Carl Icahn has called on the top U S environmental regulator to make changes to a market for renewable fuel credits or else risk the mother of all short squeezes that could bankrupt refiners In a letter to Environmental Protection Agency administrators seen by Reuters on Monday Ica...
MPC
Top U S investors take profits hold out hopes on energy in second quarter
By Sam Forgione NEW YORK Reuters Top U S investors such as Berkshire Hathaway NYSE BRKa and Paulson Co slashed some energy investments in the second quarter amid strong gains in crude and natural gas prices while also appearing optimistic by maintaining or placing new bets on the sector regulatory filings sh...
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Japan November exports beat expectations as yen tumbles volumes rise
By Stanley White TOKYO Reuters Japan s export performance improved strongly in November as rapid decline in the yen and a recovery in overseas demand boosted shipments from the trade sector handily beating economists expectations Ministry of Finance MOF data showed on Monday that exports fell 0 4 percent in t...
JPM
U S consumer spending picking up gasoline prices a threat
By Lucia Mutikani WASHINGTON Reuters U S retail sales increased marginally in April as rising gasoline prices cut into discretionary spending but consumer spending appeared on track to accelerate after slowing sharply in the first quarter The economic outlook got a boost from other data on Tuesday showing factor...
JPM
JPMorgan Chase declares 0 56 dividend
JPMorgan Chase NYSE JPM declares 0 56 share quarterly dividend in line with previous Forward yield 1 98 Payable July 31 for shareholders of record July 6 ex div July 5 Now read
JPM
Italian stocks slide dollar powers on to new 2018 high
By Tommy Wilkes LONDON Reuters Italian stocks slid on Wednesday after reports that the two parties seeking to form Italy s next government might seek debt forgiveness while the dollar ignored a pull back in U S bond yields and rallied to a new 2018 high Asian markets had earlier dipped after Pyongyang abruptly ...
JPM
Enterprise Ethereum Alliance Releases Client Specifications To Facilitate Interoperability
The Enterprise Ethereum Alliance EEA has released the Enterprise Ethereum Client Specification 1 0 today May 16 that will enable interoperability for companies that use Ethereum blockchain based solutions The EEA which was formed in March 2017 by Santander MC SAN JPMorgan NYSE JPM and a variety of other mem...
JPM
Susquehanna upgrades AMD shares 3 3
Susquehanna upgrades AMD NASDAQ AMD from Negative to Neutral AMD shares are up 3 3 to 12 87 Previously JPMorgan NYSE JPM Buy AMD s June 13 strike call option May 14 Now read
JPM
Bond Yields at 3 5 to Spur Stock Exit Credit Suisse Says
Bloomberg With the yield on U S 10 year Treasuries surging to their highest level in nearly seven years investors are starting to wonder what will be the threshold triggering a big rotation out of equities and into bonds Credit Suisse SIX CSGN Group AG says we re getting dangerously close to the level yet ...
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Wells Fargo s Revenue Beats Estimates Despite Punishment by Fed
Bloomberg Wells Fargo NYSE WFC Co reported higher profit and a smaller drop in revenue than Wall Street expected after the Federal Reserve prohibited the scandal plagued bank from increasing assets until it fixes its missteps First quarter revenue fell 1 4 percent from a year earlier to 21 9 billion the...
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Citigroup profit beats on strength in consumer banking equity trading
By Sweta Singh and David Henry Reuters Citigroup Inc N C reported a higher than expected quarterly profit on Friday driven by strength in its consumer banking business and a surge in equities trading Global consumer banking revenue increased 7 percent on gains in North America Mexico and Asia Equity markets...
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U S bank executives see delayed boost from tax overhaul
By Meredith Mazzilli NEW YORK Reuters Banks have not reaped the full benefit of U S tax cuts Wall Street executives said on Friday after a string of quarterly results with expected business growth and higher consumer spending yet to materialize Analysts and investors are still trying to work out the longer term...
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Top 5 Things That Moved Markets This Past Week
Investing com Top 5 things that rocked U S markets this week 1 First Quarter Earnings Season Begins on Sour Note The start of earnings season in earnest on Friday did not go according to plan as an earnings beat by major Wall Street banks failed to induce a stock market rally JPMorgan Chase Co NYSE JPM Citig...
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4 Trade Ideas For Citigroup
Citigroup Inc NYSE C started higher off of a bottom in December It filled a gap in January and started to morph into a sideways channel It would stay on this channel for the next 9 months It comes into the week pushing through the top and making a new 52 week high The RSI is rising in the bullish zone with the M...
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The Zacks Analyst Blog Highlights Citigroup Novo Nordisk BP Salesforce com And TC Energy
For Immediate ReleaseChicago IL November 1 2019 Zacks com announces the list of stocks featured in the Analyst Blog Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets Stocks recently featured in the blog include Citigroup NYSE C Novo N...
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What Wall Street Rally Gold ETFs Brimming With Assets
The global investing scenario has turned tricky of late The global growth slowdown has been forcing central banks to adopt easy money policies which in turn is propelling stocks higher SPDR S P 500 ETF NYSE SPY ASX SPY has added about 4 8 in the past month as of Nov 6 2019 and has jumped 6 6 in the past t...
JPM
Factors The Building Blocks Of Return Streams
There is a tendency in our industry to look at alternative investments as separate and distinct from traditional strategies But at the most basic level both alternative and traditional strategies invest in the same assets equities bonds commodities and currencies Delving a bit deeper we find that all strategies ...
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Japan third quarter growth slashed as capex inventories shrink
By Stanley White TOKYO Reuters Japan s economy grew much slower than initially estimated in the third quarter revised data showed as capital expenditure dried up and companies ran down inventories renewing concerns about Japan s growth prospects The Cabinet Office said on Thursday the economy grew at a 1 3 pe...
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Poll U S economic outlook unmoved so far after Trump win
By Sumanta Dey and Anu Bararia Reuters Donald Trump s shock White House win has not altered U S economic forecasts much with economists in a Reuters poll expecting three rate rises by the end of next year based on little follow through on most of the soon to be president s protectionist campaign promises The out...
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European stocks mixed after ECB policy move DAX dips 0 01
Investing com European stocks were mixed on Friday as markets digested the European Central Bank s latest policy decision and investors began to turn their attention to the Federal Reserve s meeting next week During European morning trade the EURO STOXX 50 edged down 0 11 France s CAC 40 added 0 15 while Germa...
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No sign of euro zone fiscal stimulus in 2017 borrowing estimates
By John Geddie LONDON Reuters Calls for euro zone governments to ramp up spending to bolster their economies are falling on deaf ears estimates of member states borrowing in bond markets next year suggest Commerzbank DE CBKG Morgan Stanley NYSE MS and ING expect debt sales to rise by 20 40 billion euros ...
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Asia stocks currencies wobble as Fed flags more hikes
By Wayne Cole and Hideyuki Sano SYDNEY TOKYO Reuters Asian shares and currencies softened on Thursday after the Federal Reserve raised rates for the first time in a year and hinted at the risk of a faster pace of tightening than investors were positioned for Yields on short term U S debt surged to the highest sin...
JPM
World stocks head higher on hopes of thawing trade tensions
By Kit Rees LONDON Reuters Prospects of a thaw in U S China trade tensions supported global stocks on Monday as U S President Donald Trump pledged to help ZTE Corp get back into business fast after a U S ban crippled the Chinese technology company while oil prices recovered some lost ground Trump s comment...
JPM
Debt Paradox Means Russia Borrows More Despite Rally in Oil
Bloomberg Oil prices near the highest level in over three years are driving the world s biggest energy exporter deeper into debt While Russia stands to reap a windfall from crude s recent rally with the budget now on track for its first surplus since 2011 a program of foreign currency purchases by the Finance M...
JPM
The man who called The Big Short says Deutsche Bank is a problem bank
Steve Eisman Deutsche Bank DE DBKGn has real profitability issues they re probably under capitalised I think they re probably raising capital next year it has to shrink dramatically Eisman is famous for betting against the US housing market in the run up to the 2008 subprime mortgage crisis LONDON Th...
JPM
Ex JPMorgan Blockchain Exec Unveils New Startup
Amber Baldet former head of blockchain initiative at JPMorgan NYSE JPM the launch of a blockchain venture called Clovyr She co founded the startup with Patrick Nielsen another former JPMorgan employee who was in charge of developing the bank s open source blockchain projects Baldet presented the new startup on ...
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JPMorgan sued over fees for cryptocurrency purchases
By Dena Aubin NEW YORK Reuters JPMorgan Chase Co has been hit with a lawsuit in Manhattan federal court accusing it of charging surprise fees when it stopped letting customers buy cryptocurrency with credit cards in late January and began treating the purchases as cash advances Filed on Tuesday on behalf of a p...
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Spotify puts bank IPO paydays under fund manager scrutiny
By Sinead Cruise LONDON Reuters After shaking up the music industry Spotify is now prompting investors to question the value they get from investment banks underwriting new listings with its low cost IPO The music streaming firm effectively deprived banks of hundreds of millions of dollars in fees by shunning the...
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Stocks cautious on trade Syria anxiety dollar near six week highs
By Hideyuki Sano and Swati Pandey TOKYO SYDNEY Reuters Asian stocks were cautiously higher on Friday ahead of the U S earnings season and as investors pondered the implications of geopolitical tensions in the Middle East and the prospect of a global trade war U S President Donald Trump s tendency to change his m...
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Top 5 Things to Know in the Market on Friday
Investing com Here are the top five things you need to know in financial markets on Friday April 13 1 Trump trade turnaround U S President Donald Trump appears to have shifted gears on trade policies as he told his top economic advisors to study the possibility of reentering a massive Pacific trade deal suggesti...
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Gold ETFs To Bet On Diwali Bonanza
Gold prices have been on a tear of late with SPDR Gold Shares NYSE GLD TSXV GLD rallying 17 4 as of Oct 24 2019 compared with the S P 500 s 2 9 gain Heightened tensions related to the U S China trade war in recent months have led to this upsurge Thanks to renewed worries of a global growth slowdown sev...
JPM
Will JPMorgan s JPM Special Dividend Plan Help The Stock
JPMorgan Chase Co s NYSE JPM CEO Jamie Dimon announced that since the company s shares have been gaining so much it is planning to use the excess capital to pay a special dividend to its shareholders rather than using it to repurchase more shares Notably shares of the company have gained around 26 8 year to d...
JPM
Q4 s Booming Global Economy And Gold
The global economy is enjoying its strongest quarter so far this year What does it mean for the gold market The JPMorgan NYSE JPM Global PMI remained unchanged in November at 53 3 extending the current spell of unbroken growth to 50 months as one can see in the chart below The recent improvement signals the acc...
JPM
Big Banks Rig Silver Market
According to the plaintiffs records surrendered by Deutsche Bank DE DBKGn show traders and submitters coordinating trades in advance of a daily phone call manipulating the spot market for silver conspiring to fix the spread on silver offered to customers and using illegal strategies to rig prices Plaintiffs are ...
MPC
Fourth day of U S refineries strike ends with new offer
By Erwin Seba HOUSTON Reuters The United Steelworkers union USW said a new contract offer was made by lead oil company negotiator Royal Dutch Shell Plc L RDSa on Wednesday night as a strike by U S refinery workers ended its fourth day The USW has received an offer and will respond after consideration of the ...
MPC
Union rejects sixth refinery offer from Shell talks next week
By Erwin Seba HOUSTON Reuters Union leaders rejected a sixth contract offer Royal Dutch Shell Plc made to U S refinery workers and a pause in negotiations was called Thursday on the fifth day of a strike though talks are set to resume next week The United Steelworkers union USW which represents workers at 63...
MPC
Building unions return to Kentucky refinery despite Steelworkers Picketlines
By Jarrett Renshaw NEW YORK Reuters Workers represented by the Building Trades Unions will return to Marathon Petroleum Corp s N MPC refinery in Catlettsburg Kentucky on Monday even as a strike by the United Steelworkers drags into a second week documents obtained by Reuters show The USW began a strike Feb ...
MPC
Shell says no agreement in U S refinery strike talks
HOUSTON Reuters Lead U S oil company negotiator Shell Oil Co said face to face negotiations on Friday with the United Steelworkers union USW failed to yield an agreement to end the 20 day old U S refinery strike Workers at several refineries and chemical plants were waiting for instructions to join the more th...
MPC
U S refinery strike widens to include nation s largest plant
By Erwin Seba HOUSTON Reuters The U S refinery strike widened on its 20th day with workers at the nation s largest refinery walking off jobs and joining picket lines on Saturday as the United Steelworkers union USW pushes for a new contract that improves wages and safety Strikes are underway or have been calle...
MPC
Workers at largest U S refinery OK deal Tesoro making progress
HOUSTON Reuters More than 700 union workers at the largest U S refinery unanimously approved a new contract in a vote at their union hall in Port Arthur Texas on Tuesday night said union officials The United Steelworkers union USW also said workers at three Tesoro Corp NYSE TSO refineries on the West Coa...
MPC
U S refiners turn to tanker trucks to avoid dumbbell crudes
By Kristen Hays HOUSTON Reuters In a pressing quest to secure the best possible crude U S refiners are increasingly going straight to the source Firms such as Marathon Petroleum Corp NYSE MPC and Delek U S Holdings are buying up tanker trucks and extending local pipeline networks in order to get more oil ...
MPC
Striking Lyondell Houston refinery workers OK new contract union
HOUSTON Reuters Hourly workers striking against LyondellBasell Industries NV s N LYB Houston refinery voted on Thursday to ratify a new four year contract clearing a key hurdle on the way to ending a three month long strike according to a union official No date has been set for the more than 400 members of U...
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Oil surges on hopes OPEC deal will be shock and awe before meeting end
Investing com With the Organization of the Petroleum Exporting Countries OPEC gathered in Vienna on Wednesday to finalize a deal on limiting output markets were still betting that a shock and awe agreement would be the final outcome even as some experts warned that the meeting is not over At 7 52 AM ET 12 ...
JPM
China s yuan to cling to range despite trade spat with U S poll
By Vivek Mishra BENGALURU Reuters China s yuan is forecast to move only a little in the coming months as authorities keep a tight leash on the currency until it becomes clear whether the trade spat with the United States will worsen a Reuters poll showed Despite the severity of the dispute and the potential to di...
JPM
China receives JPMorgan application to set up JV brokerage
BEIJING Reuters China s securities regulator has received an application from JPMorgan Broking Hong Kong Ltd a unit of JPMorgan Chase Co N JPM to set up a joint venture brokerage it said on Thursday The China Securities Regulatory Commission will examine the application effectively and according to the l...
JPM
U S consumer prices rise slightly labor market tightening
By Lucia Mutikani WASHINGTON Reuters U S consumer prices rose less than expected in April suggesting that inflation was increasing at a moderate pace which could allow the Federal Reserve to continue gradually raising interest rates But with the labor market tightening and oil prices rising after President Dona...
JPM
Asian stocks near three week high eyes on upcoming U S Korea summit
By Swati Pandey SYDNEY Reuters Asian shares rallied on Friday as investors appetite for riskier assets got a boost from soft U S inflation which helped alleviate worries of faster rate hikes by the Federal Reserve Markets were also cheered by a further easing in tensions on the Korean Peninsula after U S Pres...
JPM
Barclays CEO fined 1 5 million for trying to unmask whistleblower
By Lawrence White and Huw Jones LONDON Reuters British regulators and Barclays L BARC have fined the bank s Chief Executive Jes Staley a combined 1 1 million pounds 1 5 million after he tried to identify a whistleblower who sent letters criticizing an employee of the bank The Financial Conduct Authority FC...
JPM
Verizon buying back 2 5B in debt
Verizon NYSE VZ says it will repurchase some 2 5B in debt securities over the coming month It s delivered a notice of repurchase on its floating rate notes due Feb 21 2025 it expects to repurchase all outstanding amount in those notes before June 11 Shares flattened out today after some earlier gains following ...
JPM
Asian Equities Rise Amid Easing U S China Trade Tension
Investing com Asian equities rose in afternoon trade amid signs of easing U S China trade tension as U S President Donald Trump ordered the Commerce Department to get Chinese telecom equipment maker ZTE Corp back into business Trump said in a tweet on Sunday that he is working with Chinese President Xi to give ZTE...
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Uber agrees to buy electric cycle sharing startup JUMP Bikes
By Heather Somerville SAN FRANCISCO Reuters Ride hailing company Uber Technologies Inc UBER UL said on Monday it has agreed to buy electric bicycle service JUMP Bikes allowing Uber to offer U S passengers an alternative to cars and further consolidating the crowded bike sharing industry JUMP is a dockless elec...
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Tax Cuts Will Power Up First Quarter Earnings
Investing com First quarter earnings are expected to top those of the fourth quarter as companies continue to benefit from the corporate tax rate cut of last 2017 Earnings for the S P 500 are expected to grow by 17 5 in the quarter according to Factset That s up sharply from the 11 4 forecast of December and is ...
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OPEC Political Crises Threaten to Double Its Million Barrel Cut
Bloomberg The deal OPEC struck in 2016 to clear a global glut by halting a significant chunk of oil production took almost a year of bargaining and brinkmanship By year end the group may have lost the same amount of crude unintentionally The Organization of Petroleum Exporting Countries is already cutting daily...
JPM
November ETF Asset Flow Report
Given how crucial November was given the U S presidential election it is warranted that we look at how the 2 47 billion ETF industry performed in the month Overall the month saw sweet surprises The Trump rally for the most part of the month on hopes of fiscal reflation can be credited to these unexpected gains H...
MPC
Giving thanks for big stock gains
By Ryan Vlastelica NEW YORK Reuters U S stock investors head into the Thanksgiving holiday thankful for the market s recent strength which puts major indexes on track for another year of double digit gains though the swiftness of the advance has raised eyebrows The S P 500 SPX is up 13 3 percent from an intra...
MPC
Shell and union to talk on day four of U S refineries strike
By Erwin Seba HOUSTON Reuters Negotiations will resume on Wednesday between Royal Dutch Shell Plc L RDSa and union leaders as they haggle over a new wage contract for striking U S refinery workers the company said The two camps have been in a stalemate since the United Steelworkers union USW called walkouts ...
MS
The final nail in the coffin may be coming for the Federal Reserve s freedom
One of the central tenets of the Federal Reserve and most central banks throughout the developed world in the modern era has been their ability to stay above the political fray With a few notable exceptions the Fed has acted without fear of political retribution from the executive branch although the chair stil...
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America Movil agrees to buy mobile spectrum from Grupo MVS
MEXICO CITY Reuters Billionaire Carlos Slim s America Movil said on Monday that its wireless subsidiary had agreed to buy spectrum for mobile devices from Mexico s Grupo MVS which would increase Mexico s dominant player s offer of high speed data services America Movil said it would buy 60 MHz of spectrum in the...
MS
NYMEX crude quoted sharply weaker in Asia as API estimates OPEC weigh
Investing com Crude oil prices were last quoted sharply weaker heading into the Asian trading session on Wednesday as mixed industry inventory data from the U S and questions on OPEC s production plans weighed U S crude oil on the New York Mercantile Exchange were last quoted at 45 25 a barrel down 3 89 Prices...
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NYMEX crude rebounds in Asia after API draw OPEC key
Investing com Crude oil prices rebounded mildly in Asia on Wednesday after a draw reported in industry inventory data from the U S and as speculation swirls on OPEC s production plans ahead of a crucial meeting in Vienna U S crude oil on the New York Mercantile Exchange traded at 45 39 a barrel up 0 35 Prices ...
JPM
Dimon Says China s Yuan May Rival Dollar s Role in 20 Years
Bloomberg China has a long list of financial reforms to tackle before the yuan can rival the global role of the dollar according to JPMorgan Chase Co NYSE JPM Chief Executive Officer Jamie Dimon Eventually it will be comparable eventually is 20 or 30 years Dimon said when asked in an interview with B...
JPM
Oil hovers near 3 1 2 year peak Asia shares up ahead of Trump announcement
By Hideyuki Sano and Andrew Galbraith TOKYO SHANGHAI Reuters Oil prices eased slightly on Tuesday a day after hitting 3 1 2 year highs as investors braced for President Donald Trump s decision on whether to withdraw the United States from the Iran nuclear deal a move that could disrupt global oil supply Europea...
JPM
Exclusive ECB needs to consider fee hike for securities platform ECB document
By Huw Jones LONDON Reuters The European Central Bank is being forced to consider raising the fees for its flagship securities platform after trading failed to reach its projected volumes an ECB document showed Industry officials say the central bank is planning an increase a step they say would undermine capita...
JPM
Emerging Market Currencies Say Adios to 2018 Gain Amid Iran Risk
Bloomberg On the day that a key gauge of currencies in developing economies erased its gains for the year the voices saying it may be the start of a deeper selloff are growing louder Risk factors such as the Iran deal have emerged on top of an already weak environment for emerging markets because of the rising ...
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Economic Calendar Top Things to Watch
Investing com The NFIB s small business optimism index is released on Tuesday The producer price index for March is also due out Facebook NASDAQ FB CEO Mark Zuckerberg appears before Congress on Tuesday and Wednesday in response to the company s data scandal On Wednesday look for the consumer price index for Mar...
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Citigroup C Q3 Earnings Surpass Estimates
Citigroup C came out with quarterly earnings of 1 98 per share beating the Zacks Consensus Estimate of 1 96 per share This compares to earnings of 1 74 per share a year ago These figures are adjusted for non recurring items This quarterly report represents an earnings surprise of 1 02 A quarter ago it was e...
JPM
Will This Precious Metal ETF Outshine Others In 2017
Precious metals have had an amazing journey this year on a flight to safety amid global growth concerns as the Brexit vote and the U S presidential elections led to volatility Now that market conditions are witnessing a reversal palladium has clearly emerging as a winner in the precious metals space thanks to its i...
JPM
3 Top J P Morgan Mutual Funds To Buy Now
J P Morgan Asset Management is one of the world s largest investment management companies with around 1 7 trillion of assets under management The eighth largest mutual fund firm of the U S seeks to provide the best investment solutions to its clients As one of the leaders of U S equity fund flows JP Morgan offers...
JPM
Oil Sees Support From API Supply Data
OPEC and Thanksgiving OPEC is a real turkey and knows how to mess up Thanksgiving In fact it was Thanksgiving 2 years ago when OPEC failed to secure a production cut and the Saudis declared a production war that goes on until this day Now Thanksgiving eve in the US and once again the markets are fretting about wheth...
JPM
Oil Shows Volatility Ahead Of OPEC
Last week crude oil price volatility showed how nervous markets are in the run up to the meeting of OPEC member nations this Wednesday November 30 While crude oil prices were up early in the week they dropped substantially during the day Friday to close out the week at 46 06 USD barrel Among the developments in...
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The euro is climbing after a 10 day losing streak
The euro is finally picking up The currency is up 0 4 at 1 0635 against the dollar as of 7 42 a m ET following a ten day losing streak Notably a Morgan Stanley NYSE MS team led by Hans W Redeker wrote in a note to clients that the euro s moves are still largely driven by the greenback However we think EU...
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Ex PM Fillon is favorite to win French conservative presidential ticket
By Richard Lough PARIS Reuters Former prime minister Francois Fillon is favorite to become the French center right s presidential candidate after a voting upset that puts him in pole position for a showdown with far right leader Marine Le Pen in next year s election Fillon who has said he will cut public sector ...
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U S says concerned over Russia blocking access to LinkedIn
By Christian Lowe and Maria Kiselyova MOSCOW Reuters The U S government said on Friday it was deeply concerned over Russia s decision to block public access to networking site LinkedIn saying it created a precedent that could be used to justify blocking other sites operating in Russia LinkedIn N LNKD which ha...
JPM
JPMorgan names head of artificial intelligence research
Reuters JPMorgan Chase Co NYSE JPM named Manuela Veloso head of artificial intelligence research to help drive the bank s efforts in applying machine learning technology across its businesses Veloso currently heads the machine learning department at Carnegie Mellon University In her new role Veloso will esta...
JPM
China regulator sets bar for foreign shareholders of futures brokerages
BEIJING Reuters China s securities regulator said on Friday that overseas shareholders of futures brokerages must be reputable institutions with outstanding performance as it prepares to open up the sector to majority foreign ownership Senior managers of foreign invested futures brokerages must also be based in C...
JPM
Activist investment rising in Asia led by local players JP Morgan
By Alun David John HONG KONG Reuters Activist investing in Asia is rising steadily driven more by local players rather than headline grabbing foreign firms as the region s regulators pay greater attention to corporate governance according to research from JP Morgan N JPM Last year there were 106 activist ca...
JPM
Dollar surge bringing emerging market rate cut cycle to a halt
By Marc Jones and Karin Strohecker LONDON Reuters A resurgent dollar and higher borrowing costs are smashing through Argentina and Turkey s currencies like a wrecking ball and raising the likelihood more broadly that emerging markets three year long interest rate cutting cycle is at an end Emerging markets came i...
JPM
McAfee Challenges Dimon to Embrace Blockchain Revolution amid Shift in Power Structures
John McAfee founder of the company behind the popular antivirus software named after him has challenged JPMorgan NYSE JPM chief Jamie Dimon and the CEOs of other major banks to accept the tectonic changes happening in the finance space and join the blockchain cryptocurrency movement before it is not too late McAfe...
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AMC is working with Citi on potential 2 billion float of Odeon cinemas sources
By Dasha Afanasieva LONDON Reuters AMC Entertainment Holdings N AMC is working with Citi N C on an initial public offering IPO of Britain s Odeon cinemas group three sources familiar with the matter said New York listed AMC said in November it may pursue a London IPO of Odeon which now includes Nordic Cine...
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HSBC to pay 100 million to end Libor rigging lawsuit in U S
By Jonathan Stempel NEW YORK Reuters HSBC Holdings Plc L HSBA has agreed to pay 100 million to end private U S litigation accusing it of conspiring to manipulate the Libor benchmark interest rate becoming the fourth major bank to settle The preliminary accord with over the counter investors that transacte...
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Buy U S Steel ahead of very bullish catalyst Citi says
U S Steel NYSE X 2 6 premarket after Citigroup NYSE C upgrades shares to Buy from Neutral with a 46 price target lifted from 43 ahead of a very bullish catalyst in steel prices U S flat rolled prices are peaking and expected to gap lower although they likely will make higher lows similar to met coal ...
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Investment Corp of Dubai raises 1 2 billion loan sources
By Davide Barbuscia DUBAI Reuters Investment Corporation of Dubai ICD the Dubai government s main investment arm has raised a 1 2 billion loan needed to refinance existing debt banking sources said The loan was led by Citi N C Dubai Islamic Bank DU DISB Emirates NBD DU ENBD HSBC L HSBA ICBC SS 6...
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Russia s IBS launches IPO on Moscow Exchange
MOSCOW Reuters IBS IT Services plans an initial public offering IPO on the Moscow Exchange MM MOEX it said on Wednesday as it aims to tap Russia s economic recovery and reviving domestic demand for information technology services The shares both new and existing will be offered by the company as well as by...
JPM
Trump Rally To Wane Buy These Quality ETFs
The latest streak of gains in the key U S indices like the S P 500 and Dow Jones Industrial Average was as surprising as Trump s win in the U S election Though the tech laden Nasdaq 100 could not cherish the rally initially as Trump s immigration and foreign polices could spell trouble for tech stocks it eventually...
JPM
JP Morgan Secures IPO Deal With Saudi Aramco
Financial giants and stock exchanges around the world are competing to get a piece of what promises to be the world s largest initial public offering the sale of shares in Saudi Arabia s state managed oil company Saudi Aramco has an estimated value of over 2 trillion Saudi Deputy Crown Prince Mohammad bin Salman a...
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New Media 2 4 on 7 5M share public offering
New Media Investment Group NYSE NEWM has slipped 2 4 after hours on news that it s launching a public offering of 7 5M shares of common stock Morgan Stanley NYSE MS the sole underwriter has a 30 day option to buy up to an additional 1 125M shares It might offer shares via NYSE transactions the OTC market o...
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Havas chief Merger with Vivendi would make sense
A merger between ad group Havas OTCPK HAVSF and media giant Vivendi PA VIV OTCPK VIVHY 3 5 is an assumption that makes sense says Havas chief Yannick Bollore It would be a development project rather than a cost saving project He says Havas isn t in any formal talks with Vivendi which is 60 owned by h...
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Once terrified hedge fund managers warm to Trump
By Svea Herbst Bayliss and Lawrence Delevingne NEW YORK Reuters Hedge fund managers were largely united in their dislike for Donald Trump before the election Now they are optimistic that he can use his pro growth policies to improve the economy and their portfolios Investors were over weighing the negative...
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Analog chipmaker Macom to buy Applied Micro for 770 million
Reuters Analog chipmaker Macom Technology Solutions Holdings Inc O MTSI said on Monday it would buy fellow chipmaker Applied Micro Circuits Corp O AMCC for about 770 million to expand its data center connectivity business Macom s offer of 8 36 per share comprising of 3 25 of cash and 0 1089 Macom shares r...