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JPM
Florida programmer sentenced to 16 months for bitcoin exchange scheme
By Brendan Pierson NEW YORK Reuters A Florida software engineer was sentenced to 16 months in prison on Friday after being found guilty of scheming to help an illegal bitcoin exchange avoid having banks and regulators look into its activities Yuri Lebedev was sentenced by U S District Judge Alison Nathan in Manha...
JPM
JPMorgan partners with data start up to boost fixed income trading
By Anna Irrera NEW YORK Reuters JPMorgan Chase Co N JPM has partnered with data analytics start up Mosaic Smart Data to help its fixed income sales and trading business become more profitable The bank whose fixed income trading revenue slumped last quarter has signed a multi year deal to use Mosaic Smart Dat...
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Citi says U S regulators are investigating its hiring practices
Reuters Citigroup Inc N C on Friday said that U S government and regulatory agencies are investigating the bank s hiring practices U S agencies including the U S Securities and Exchange Commission are looking into whether or not the bank hired candidates referred by or related to foreign government offic...
JPM
Those Crazy Gold Bugs
Rather than write about the economy the markets or geopolitics today let s look at something a little different It s important every once in a while to step back and take in the big picture because we are all guilty of getting too close or finite if you will We fight the daily battles while losing sight of what t...
JPM
Silver Forecasts Timed To Equity Perfection Cataclysm Nears
INTRODUCTION Silver Bottom And Dow Top Mar 8 identified the higher low forecasted in the Mar 1 article Silver Equity And Currency Turning Points Silver Has Seen Its Lows These followed the 4th quarter forecast of silver s November bottom under 15 00 basis iShares Silver ARCA SLV The above is rehashed fo...
JPM
Global Risk Off More Downside For Stocks
Trend Model signal summary Trend Model signal Risk off Trading model Bearish The Trend Model is an asset allocation model which applies trend following principles based on the inputs of global stock and commodity price In essence it seeks to answer the question Is the trend in the global economy expansion bullis...
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For Hong Kong regulator HSBC presents major challenges
By Michelle Price and Lawrence White HONG KONG Reuters A move by British banking giant HSBC LONDON HSBA to relocate its headquarters back to Hong Kong would present major challenges to the city s banking watchdog regulatory experts said The Hong Kong Monetary Authority HKMA is regarded as one of Asia s leadin...
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Shrinking liquidity exposes markets to crunch
By Jamie McGeever LONDON Reuters The calm on global financial markets masks a growing threat to their smooth functioning should shrinking liquidity morph into an outright crunch in response to a U S interest rate rise or some other shock The price of German 10 year government bonds plunged this week triggering t...
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Morgan Stanley sees 292 million loss from Deutsche Bank lawsuit
Reuters Morgan Stanley NYSE MS said on Monday it could lose more than 290 million from a lawsuit by Deutsche Bank XETRA DBKGn National Trust Co over the quality of about 735 million of the Wall Street firm s mortgages Deutsche Bank in April last year filed a complaint that alleged Morgan Stanley had fals...
JPM
Blue Buffalo falls after JPMorgan downgrades
JPMorgan NYSE JPM lowers Blue Buffalo Pet Products BUFF 3 3 to a Neutral rating after having shares rated at Overweight The firm is still positive on the long term growth story but sees some stumbles ahead in upcoming quarters JP s price target on Blue Buffalo is trimmed by a buck to 31 Now read
JPM
U S industrial output rises slightly as hurricanes impact lingers
By Lucia Mutikani WASHINGTON Reuters U S industrial production rebounded modestly in September as the lingering effects of Hurricanes Harvey and Irma hobbled activity at factories but the outlook for the industrial sector remains bullish amid a strengthening global economy and weakening dollar The soft industria...
JPM
JPMorgan agrees to fintech acquisition
In what would be the bank s first major fintech acquisition JPMorgan NYSE JPM has agreed to buy WePay Terms weren t disclosed but a source tells the WSJ the price was higher than the 220M valuation assigned to WePay in a 2015 fundraising round With roughly 200 employees WePay helps online marketplaces and crowdfu...
JPM
JPMorgan to buy online payment provider WePay
Reuters JPMorgan Chase Co NYSE JPM said on Tuesday it would acquire online payment provider WePay as the bank looks to integrate payments into software used by small businesses WePay s technology popular among small businesses helps online software service providers like FreshBooks and crowdfunding websites ...
JPM
JPMorgan Acquires Fintech Start Up WePay
Investing com JPMorgan NYSE JPM said Tuesday it has agreed to buy payments start up WePay in its first major acquisition of a financial technology startup The two companies didn t disclose the terms of the deal but the Wall Street Journal reported the price being above 220 million The investment banking giant sa...
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Bank of Singapore to use Dubai as base to attract Middle East Africa wealth
By Tom Arnold and Saeed Azhar DUBAI Reuters The private banking arm of Singapore s second biggest lender OCBC SI OCBC is targeting annual growth of assets of more than 20 percent from its new office in Dubai which it aims to use to attract wealthy clients from the Middle East and Africa its chief executive told...
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Germany a favorite for Citi s Europe investment banking HQ paper
FRANKFURT Reuters U S bank Citigroup N C may choose Frankfurt as the headquarters for its European investment banking and trading activities as part of its Brexit contingency plans the bank s European chief told Frankfurter Allgemeine Zeitung The bank will be making a decision in the first half of this year ...
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U S judge dismisses most of Euribor rigging lawsuit
NEW YORK Reuters A U S judge on Tuesday dismissed most of an investor lawsuit accusing major banks of conspiring to manipulate the benchmark European Interbank Offered Rate or Euribor In a 100 page decision U S District Judge Kevin Castel in Manhattan said most of the plaintiffs lacked standing to pursue antit...
JPM
Big Money Banks Show Upside
JPMorgan Chase Co NYSE JPM is pushing up against its 14 month resistance line also the upper boundary line of its 14 month sideways channel which if hurdled and sustained should trigger upside continuation that projects next toward 68 With the 10 year YIELD also pushing higher toward a confrontation with its...
JPM
Dow Jones Higher After Close On Monday
Dow JonesStocks on the U S were higher after the close on Monday as gains in the Financials at the close in New York the Dow Jones Industrial Average rose 0 26 The best performers of the session on the Dow Jones Industrial Average were JPMorgan Chase Co NYSE JPM which rose 1 75 or 1 11 points to trade at 64...
JPM
Analyst Warns On Banks
Richard Bove is the bank equity analyst at Rafferty Capital Markets He is a longtime friend and is as distinguished and seasoned a bank analyst as anyone I know This morning he put out a research note that gave me pause We thank Dick for permission to share this with our readers The United States banking regulato...
JPM
JP Morgan Shares Support At Multi Year Highs
The 3 month old uptrend line offers JPMorgan Chase Co NYSE JPM shares support at multi year highs Bullish JPM 4 months
JPM
Higher Prospects For Profitability For ThyssenKrupp
Higher Prospects For Profitability For ThyssenKruppThe German industrial giant Thyssenkrupp AG XETRA TKAG O N LONDON 0O1C proceeded to upgrade its targets for the financial year 2015 despite the sharp drop in its net profit for the second quarter of the year The steel industry now believes that the adjusted earni...
JPM
Greek Financial Crisis Another Cyprus
Do you remember what happened when Cyprus decided to defy the EU In the end the entire banking system of the nation collapsed and money was confiscated from private bank accounts Well the nation of Greece is now approaching a similar endgame At this point the Greek government has not received any money from the E...
JPM
Weekly Forex Outlook May 29th USD JPY Most Notable Mover
USD JPY has been the most notable mover this week with the pair breaking above 2007 highs at 124 14 to reach its highest level since December 2004 Continued divergence in central bank policy combined with technical breaks led the pair to reach highs of 124 46 with analysts at JP Morgan NYSE JPM forecasting a mediu...
JPM
In Search Of A Major Bearish Market Trigger
Trend Model signal summary Trend Model signal Neutral Trading model Bearish The Trend Model is an asset allocation model which applies trend following principles based on the inputs of global stock and commodity price In essence it seeks to answer the question Is the trend in the global economy expansion bullish...
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Software developer Apigee s IPO priced at 17 per share
Reuters Software developer Apigee Corp said its initial public offering has been priced at 17 per share the midpoint of an expected range of 16 18 The price means the company will raise about 87 million from the IPO of 5 1 million shares and it values the company at about 494 5 million The San Jose based c...
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Deutsche faces tough task paring back retail investment banking
By Thomas Atkins FRANKFURT Reuters If running a global bank is complicated cutting one back is even more difficult Deutsche Bank DE DBKGn faces a long and costly battle analysts say to sell Postbank DE DPBGn and pare investment banking the new strategic goals it outlined late on Friday While the bank ...
JPM
J P Morgan set to roll out next blockchain program
The head of JPMorgan NYSE JPM is famously not a fan of bitcoin but feels quite differently about the technology behind it and other cryptos The bank today is set to roll out a pilot program using blockchain to enable faster more secure transfer of cross border payments between JPMorgan and Royal Bank of Canada and...
JPM
JPMorgan launches payments network using blockchain technology
Reuters JPMorgan Chase Co N JPM said on Monday it launched a new payment processing network that uses blockchain technology in partnership with Royal Bank of Canada TO RY and Australia and New Zealand Banking Group AX ANZ Blockchain a shared ledger of transactions maintained by a network of computers on ...
JPM
Firms must prepare for Brexit without transition Irish central bank says
By Padraic Halpin DUBLIN Reuters Its is entirely possible that Britain will leave the European Union without a transition agreement and companies need to do more to prepare for an abrupt departure Irish Central Bank Deputy Governor Ed Sibley said on Tuesday Negotiations on the terms of Britain s exit from the EU...
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Citigroup gets bond settlement agent license in China
HONG KONG Reuters Citigroup Inc s N C China unit said on Tuesday that it had received the so called Type A bond settlement agent license from China s central bank allowing it to add to its offering of sales trading and research in the fixed income business Citigroup is the first U S based bank to be grant...
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The Fed already has a problem with its 2017 forecast
Federal Reserve officials including central bank chair Janet Yellen have kicked off the year by again indicating their intention to raise interest rates several times in 2017 even though the same suggestion last year turned into barely a single rate increase at the very end of the year But there are signs that fina...
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Banks take bigger role in Latin America fight against tax evasion
By Luc Cohen and Guillermo Parra Bernal BUENOS AIRES SAO PAULO Reuters When Argentina launched a tax amnesty program last year to bring billions of dollars back into the country it found support from an unlikely corner the banks whose clients had stashed money abroad President Mauricio Macri had no shortage of m...
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Bank stocks break out of trading range seen rising further
Reuters U S financial stocks rose on Monday breaking above a trading range they were stuck in since early December as investors bet that policy changes favoring the financial sector would be implemented under the Republican administration Financial stocks SPSY with a 1 2 percent increase were the biggest b...
JPM
Hunting For Yield From Bank Stocks
In the past bank stocks were an excellent source of dividends for income oriented investors The traditional 3 6 3 model of banking borrow at 3 lend at 6 and be on the golf course by 3 p m led to nice if somewhat unexciting lives for bankers It also offered a stream of reliable dividends for shareholders...
JPM
Looming Bond Market Crisis Set To Improve Gold Demand
Historically low bond yields across both the private and government sectors are reducing the margin for error when it comes to the ability of the markets to withstand a bond market shock Global quantitative easing QE has seen bond yields driven to low and often sub zero levels in many economies The European Central...
JPM
The End Is Near Part 1 The War On Cash
As the saying goes you can know a person by the quality of his or her enemies This is also true of societies where moral evolution can be traced by simply listing the things on which they declare war Not so long ago for instance the world s good guys the US Europe s democracies and a few others fought existe...
JPM
The End Of Cash
Source Money velocity in its simplest terms is a measurement of how fast money is moving through the economy Another way of looking at it is that money velocity is simply a comparison between GDP and money supply If money velocity is falling then that tells us money supply is increasing at a faster rate than GDP M...
JPM
JPM Shares Are Above 3 Month Uptrend Line
JPMorgan Chase Co NYSE JPM shares are above the 3 month old uptrend line as well as above multiple resistance in the vicinity of 62 Price is at 15 year highs In my book there is nothing implying that the current uptrend is not intact anymore Still bullish JPM daily chart 3 months
JPM
The Collapse Of Cash
Despite all of the central bank manipulations over the past seven years it is finally becoming clear economies will not be able to achieve escape velocity The U S central bank has the longest track record of treading down the path of monetary manipulations And has achieved anemic average annual growth of 2 2 since...
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Apa Group plans to build Japan s biggest hotel by 2020 Olympics
By Junko Fujita TOKYO Reuters Apa Group aims to capitalize on an boom in visitors to Japan by building the country s biggest hotel in time for the Tokyo 2020 Olympic Games the chief executive of the nationwide hotel chain said The unlisted operator of mid priced accommodation plans to open a 2 400 room hotel in t...
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Morgan Stanley NY attorney general in 500 million talks to settle probe WSJ com
NEW YORK Reuters Morgan Stanley NYSE MS is in discussions to pay 500 million to settle an investigation by New York s attorney general into whether the Wall Street bank misled investors in taking mortgage bonds that lost value during the financial crisis the Wall Street Journal reported Sunday in its online e...
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Morgan Stanley rises 2 5 in pre market trade after Q1 earnings beat
Investing com Wall Street investment bank Morgan Stanley NYSE MS reported stronger than expected first quarter earnings ahead of Monday s opening bell sending its shares higher in pre market trade Morgan Stanley said adjusted earnings per share came in at 1 14 in the three months ended March 31 beating expect...
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Oil up on drop in U S crude stockpiles Saudi tensions
By Barani Krishnan NEW YORK Reuters Oil prices rose on Monday after a drop in stockpiles at the delivery point for U S crude in the second half of last week outweighed pressure from near record high production in Saudi Arabia Tensions in the Middle East and a drop in the number of rigs drilling for oil in the Uni...
JPM
Bets on a dangerous trade that reminds experts of the 1987 market crash just broke a record
Investors just can t resist making a quick buck on the motionless stock market With price swings already locked near record lows for weeks traders have pushed short bets on the or VIX widely known as the fear gauge to a new high It marks the fourth such record in just 11 weeks for hedge funds and large specul...
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Jailed Libor trader Hayes launches fresh appeal against conviction
By Kirstin Ridley LONDON Reuters Tom Hayes the first person worldwide to be jailed for conspiring to manipulate Libor interest rates on Monday night launched a last ditch appeal against his conviction and 11 year sentence in Britain alleging his trial was unfair Hayes a gifted mathematician with mild Asperger ...
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New York City other municipal issuers warn investors on Trump policies
By Karen Pierog and Hilary Russ CHICAGO NEW YORK Reuters U S President Donald Trump s agenda to repeal Obamacare and punish sanctuary cities for resisting him on immigration is making its presence felt in the 3 8 trillion municipal bond market Municipal bond sales next week from New York City the state of Or...
JPM
European Open U K Seen On Brink Of Deflation
European indices are expected to open lower on Tuesday as investors adopt the cautious approach ahead of some key economic data from the UK and US and earnings from JPMorgan Chase Co NYSE JPM and Wells Fargo NYSE WFC among others The latest reading of UK inflation will be released shortly after the European op...
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Dollar bulls back off amid concern Fed will delay hike
By Ross Kerber BOSTON Reuters Some of the biggest dollar bulls in the global bond fund sector have reversed course in recent weeks cutting exposure to the greenback amid concern the U S Federal Reserve will delay a widely anticipated interest rate hike The shift comes as the dollar s rally to 12 year highs shows...
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More austere accommodating Rousseff paying off for Brazil
By Brian Winter and Anthony Boadle BRASILIA Reuters The new Dilma is starting to produce results By embracing power sharing deals and budget cuts that she shunned during her first term in office President Dilma Rousseff has begun to ease the economic and political crisis plaguing Brazil congressional leaders a...
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E commerce software maker Shopify files for IPO
Reuters Shopify Inc a Canadian e commerce software maker filed with U S regulators for an initial public offering of common stock Morgan Stanley NYSE MS Credit Suisse SIX CSGN and RBC Capital Markets are among the major underwriters for the IPO the company said in a regulatory filing on Tuesday Th...
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China s Economy Slows Down
By China s economy grew by 7 percent in the first quarter of the year its slowest growth rate since the first quarter of 2009 at the start of the global financial crisis The GDP figures announced by China s National Bureau of Statistics NBS represented a sharp fall from growth of 7 3 percent in the final qua...
JPM
Growth gathering momentum but where s the inflation
By Jonathan Cable LONDON Reuters The euro zone economy may be building up an impressive head of steam that shows no signs of cooling but what policymakers at the European Central Bank really want higher inflation is still largely absent Industrial output in the bloc rose faster than anyone polled by Reuters e...
JPM
Barclays U S FERC near settlement of power market manipulation lawsuit
Reuters British bank Barclays Plc L BARC and the U S Federal Energy Regulatory Commission FERC made substantial progress toward a settlement of FERC s proposed 435 million fine against the bank for alleged power market manipulation according to court documents The Barclays penalty if there is one could ...
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Swedish ex finance minister and tycoon named suspects in bribery case
STOCKHOLM Reuters Fredrik Lundberg one of Sweden s most powerful tycoons and former finance minister Anders Borg have been questioned by prosecutors as suspects in a bribery probe Forestry firm Holmen where Lundberg is chairman said Lundberg was suspected of offering a bribe related to hunting events arranged ...
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CMBS tied to Trump son in law sails through market
By Joy Wiltermuth NEW YORK IFR Investors on Friday snapped up a new US 1 11bn commercial mortgage bond backed by a highly leveraged loan to refinance a New York property owned by President Donald Trump s son in law The US 100m loan part of a big refinance package on a Times Square NYSE SQ building owned by Jare...
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Citigroup to exit U S mortgage servicing operations by 2018
Reuters Citigroup Inc N C said on Monday it would speed up the transformation of its U S mortgage business by exiting servicing operations by the end of 2018 Citi said it would sell its mortgage servicing rights on about 780 000 Fannie Mae and Freddie Mac loans of non Citibank retail customers to New Resident...
JPM
Managing In A Sideways Market
Managing expectations and emotions with investing is probably one of the hardest things to do on a consistent basis Let s face it in our busy daily lives we have come to expect fast results and instant gratification from the speed of information at our fingertips I go out of my mind when a website takes more than 5...
JPM
Gold The Di a mon d In The Rough
Astute market observers are likely aware that Mr James Dimon JPMorgan Chase NYSE JPM s Chairman and President and Chief Executive Officer like so many folks in this economy having to hold down three jobs noted in his annual shareholders letter this past Wednesday that There will be another crisis and its impac...
JPM
What To Expect From JPM Into Earnings
Below is a JPMorgan Chase Co NYSE JPM Chart with JPM heading into earnings on Tuesday highlighted on the key points on this chart Once again JPM is hitting resistance at 61 34 61 69 which should break if the market bounces here or earnings are good Above this JPM has little resistance expect its all time high a...
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Morgan Stanley boosts CEO pay to 16 million in 2014 filing
By Lauren Tara LaCapra NEW YORK Reuters Morgan Stanley NYSE MS s board boosted Chairman and Chief Executive James Gorman s compensation by one third last year saying the bank s performance was strong but had room for continued progress according to its proxy filing on Wednesday Gorman was awarded 16 mil...
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Reliance s NIMBY woes prove headache for India s digital push
By Aman Shah MUMBAI Reuters Residents of a Mumbai suburb are taking on one of the country s biggest conglomerates in a rare grassroots protest against a 25 metre telecom mast that marks a new stumbling block in India s troubled push to get millions more online India s e commerce industry has boomed in recent years...
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Bitcoin technology startup hires Morgan Stanley manager
By Lauren Tara LaCapra NEW YORK Reuters Factom a bitcoin technology company has hired Morgan Stanley NYSE MS investment manager Jacob Dienelt as its head treasurer the company said on Monday Dienelt co founded the paper bitcoin wallet company Lazzerbee while working at Morgan Stanley where he had been for ...
JPM
Fire Marianne Lake JPMorgan CFO open to bitcoin
JPMorgan NYSE JPM is very open minded to possible uses of cryptocurrencies if property controlled and regulated says CFO Marianne Lake speaking on the bank s earnings call Last month the bank s CEO Jamie Dimon made plenty of news calling bitcoin a fraud and threatening to fire any employee trading it Dimon ...
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Citi sees 10 percent net new money growth near term in Asia wealth business
By Sumeet Chatterjee HONG KONG Reuters Citigroup NYSE C said a focus on rich young Asians and new products has helped accelerate net new money growth at its Asia Pacific consumer wealth business in 2016 to about 10 percent and a similar annual growth is expected over the next few years Anand Selvakesari Citi...
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Barclays vice chairman of banking Matthew Ponsonby to retire memo
LONDON Reuters Barclays LON BARC vice chairman of banking Matthew Ponsonby will retire from the British bank at the end of January according to a memo seen by Reuters on Friday Ponsonby who joined Barclays from Citigroup NYSE C in 2009 as co head of European mergers and acquisitions M A played a key...
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U S bankruptcy court judge OKs 425 million for Avaya loan
By Jessica DiNapoli NEW YORK Reuters A U S bankruptcy court judge granted Avaya Inc approval on Friday to tap 425 million of the 725 million loan proposed to carry the telecommunications company through its restructuring funds the company said were essential to continue operations Avaya filed for Chapter 11 ba...
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Citigroup fined 28 8 million for harm to home borrowers
By Lisa Lambert WASHINGTON Reuters Citigroup Inc N C mortgage units have been fined 28 8 million for keeping home borrowers in the dark about options to avoid foreclosure and making it difficult for them to apply for relief the U S consumer finance watchdog said on Monday CitiMortgage will pay an estimated ...
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US Stocks Are As Strong Under The Hood As On The Surface
Shocking Revelation US Stocks Are In An Uptrend Far from being breaking news the consistently strong performance of the major US and international equity indices is taken for granted by everyone from the richest hedge fund manager to my retired grandmother When everything is going swimmingly on the surface one...
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The Fed Will Ignite The Next Financial Crisis
There seems to be a very large consensus the markets have entered into a permanently high plateau or an era in which price corrections in asset prices have been effectively eliminated through fiscal and monetary policy Partnering with this fairytale like mindset is an overwhelming sense of complacency Throughout t...
JPM
Poor US retail sales fail to inspire Australian dollar
The Australian dollar failed to take advantage of disappointing US retail sales figures today giving up most of the gains made earlier on in today s trading At 3 47pm GMT the Aussie dollar was trading at US76 29c down from US77 00c in yesterdays close The local currency jumped as high as US77 08c after the announceme...
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Investment banks eye potential trading boost from ECB stimulus
By Anjuli Davies and John Geddie LONDON Reuters Investment banks feeling the pinch from increased regulation since the financial crisis could reap an earnings reward from a boost in trading activity under the European Central Bank s ECB trillion euro quantitative easing QE program The flood of money into market...
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U S consumer spending tepid savings at two year high
By Lucia Mutikani WASHINGTON Reuters U S consumer spending barely rose in February as households used the windfall from lower gasoline prices to boost savings to the highest level in more than two years the latest sign that the economy hit a soft patch in the first quarter Economic growth has been undercut by ba...
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Being a big global bank is not worth the hassle investor poll
LONDON Reuters Being one of the world s top 30 banks is not worth the hassle of extra regulatory scrutiny and capital requirements according to a poll of financial industry investors last week Morgan Stanley NYSE MS said 62 percent of investors polled at its European financial industry conference said the neg...
JPM
Jamie Dimon others to contribute to new NBC opinion website
By Sheila Dang Reuters JPMorgan Chase Co NYSE JPM Chief Executive Jamie Dimon is among a roster of high profile names who will contribute to the online opinion section that NBC News launched on Tuesday the network said The new section called THINK had essays from MSNBC host Mika Brzezinski actor and pla...
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Higher gasoline rental costs boost U S consumer inflation
By Lucia Mutikani WASHINGTON Reuters U S consumer prices rose in December as households paid more for gasoline and rental accommodation leading to the largest year on year increase in 2 1 2 years and signaling that inflation pressures could be building Other data on Wednesday showed U S industrial production re...
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U S economy shows strength on eve of Trump presidency
By Lucia Mutikani WASHINGTON Reuters U S homebuilding rebounded sharply in December as a firming economy boosts demand for rental housing while an unexpected drop in the number of Americans filing for unemployment benefits last week pointed to a further tightening in the labor market The economy s brightening pr...
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GoDaddy s IPO to value web hosting company at up to 2 87 billion
Reuters Web hosting company GoDaddy Inc s initial public offering is expected to value the company at up to 2 87 billion and comes at a time when there has been a steep fall in the number of companies going public in the United States Including debt the company could be valued at 4 billion The IPO market has ...
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Accel launches 305 million Indian start up fund
Reuters Accel Partners the venture capital firm that has backed the likes of Facebook and Flipkart is launching a 305 million India focused fund to capitalize on the country s favorable conditions for start ups The investment is almost double the size of Accel s last such fund launched in 2011 and will ta...
JPM
JPMorgan calls a top on Sanderson Farms
JPMorgan NYSE JPM lowers Sanderson Farms NASDAQ SAFM to an Underweight rating on concerns over extended valuation Shares of the poultry processing company are up 70 YTD The firm slides its price target on SAFM to 134 to rep 16 downside potential Sanderson Farms peaked at an all time high of 166 65 earlier ...
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Scaramucci s SkyBridge sells itself investment team to stay put
By Svea Herbst Bayliss BOSTON Reuters SkyBridge Capital the hedge fund investment firm founded by Anthony Scaramucci will sell a majority of itself to RON Transatlantic EG and HNA Capital the company said on Tuesday four days after Scaramucci took a position in President elect Donald Trump s administration The...
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Citi Q4 EPS 1 14 vs forecast 1 12 revenues miss estimates
Investing com Citigroup Wednesday reported Q4 EPS of 1 14 on revenues of 17 01 bn NYSE Citi was forecast to report EPS of 1 12 on revenues of 17 1 bn Citi s Q4 2015 EPS was 1 02 on revenues of 18 5 bn Revenues fell in the absence of net gains from asset sales Fourth quarter earnings were boosted by fixed in...
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Citigroup C Q4 Earnings Beat Records One time Tax Charges
Have you been eager to see how Citigroup Inc NYSE C performed in Q4 in comparison with the market expectations Let s quickly scan through the key facts from this New York based money center bank s earnings release this morning An Earnings BeatCitigroup came out with adjusted earnings per share of 1 28 surpassin...
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Dollar In Recovery Mode UK Inflation In The Spotlight
Here are the latest developments in global markets FOREX The dollar managed to recover a part of the previous days losses against a basket of currencies that saw it eventually fall to a three year low during Monday s trading STOCKS The Japanese Nikkei 225 and Topix indices added 1 0 and 0 55 to close at thei...
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What To Expect From Citigroup Earnings
Citigroup Inc NYSE C shares are expected to rally as it releases its fourth quarter earnings report prior to Tuesday s market open Aside from its earnings numbers investors would also be taking a closer look on any hint of the company s plans for this year as it the Republican Senate pushes for a major corporate t...
JPM
SNB Post Mortem
The Swiss National Bank move to eliminate the 1 2 EUR CHF Peg has proven to be a big market media event Follows a few random thoughts on how this story played out Caveat Some of this is wonkish some guesses on my part The Weekly FX Flows The FX market has two different types of risk profiles depending on what d...
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Exclusive Former risk chief warned Deutsche Bank on stress test emails show
By Charles Levinson NEW YORK Reuters In the weeks leading up to the U S Federal Reserve s annual stress test of major banks a former risk executive of Deutsche Bank AG XETRA DBKGn repeatedly warned senior managers of the German bank s U S unit that they were painting a far too rosy picture of the bank s heal...
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Zara owner Inditex has the edge in online battle with HM
By Elisabeth O Leary Anna Ringstrom and Emma Thomasson MADRID STOCKHOLM BERLIN Reuters The families behind Zara owner Inditex MC ITX and H M ST HMb will need to fend off fast moving competitors if they are to replicate online the winning formulae that made them the world s top two fashion retailers Each has...
JPM
Ratio of bond bears rises to record
According to a JPMorgan NYSE JPM client survey a record 39 have net short positions in long dated Treasurys Among active clients think traders and hedge funds 70 are betting on further price declines It s nothing the Treasury market isn t used to For nearly every year since the financial crisis bottomed one...
JPM
Storms impact U S job market trade expected to bolster economy
By Lucia Mutikani WASHINGTON Reuters The number of Americans filing for unemployment benefits fell more than expected last week but the continued impact of Hurricanes Harvey and Irma on the data made it difficult to get a clear picture of the labor market Other data on Thursday pointed to underlying economic stre...
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Brexit could put tens of thousands finance jobs at risk executives
By Huw Jones and Andrew MacAskill LONDON Reuters Tens of thousands of jobs in Britain s financial services sector could be lost if euro clearing shifts to continental Europe and full access to the bloc s single market is lost top industry officials said on Tuesday London has become the world s biggest center for ...
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Northwestern Mutual launches 50 million fintech venture fund
By Anna Irrera Reuters Northwestern Mutual Life Insurance Co NMLIC UL has set up a 50 million corporate venture fund to invest in fintech startups in a bid to expand its digital offering and capabilities The initiative makes Northwestern Mutual the latest established financial institution to set up a venture a...
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Citigroup resolves four year New York probe of overcharges
NEW YORK Reuters Citigroup Global Markets Inc a unit of Citigroup Inc NYSE C has resolved a four year investigation of fee overcharges the New York attorney general said on Thursday The investigation revealed that CGMI overcharged over 47 000 customers more than 22 5 million in fees New York Attorney Gene...
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Q A Sallie Krawcheck has a new game plan for women at work
By Chris Taylor NEW YORK Reuters For decades Wall Street was the ultimate boys club of all boys clubs Then came Sallie Krawcheck As the former CEO of Smith Barney head of Merrill Lynch s thundering herd and chief financial officer for Citigroup NYSE C Krawcheck kicked down those boardroom doors and did...
JPM
Well Played Wall Street
So the markets are getting skittish and the media is obsessing about the many things that could go wrong out there It s like 2007 all over again but with one big difference Back then the mega banks were reasonably sure the government would if necessary bail them out of their hundreds of trillions of dollars of der...
JPM
Other Financial Markets Impact Stocks Unexpectedly
Why did J P Morgan Chase Co NYSE JPM not rebound and rally when the Dow Index rallied this past week Whenever a stock diverges from the index it is on especially during extreme sudden selling or sudden rallies retail traders need to understand why the divergence occurred so that they can prepare for the near te...
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Japan output jumps but consumers unconvinced by Bank of Japan stimulus
By Leika Kihara and Tetsushi Kajimoto TOKYO Reuters Japanese households cut spending more than expected and retail sales fell for the first time in seven months in January data showed on Friday a sign the central bank s radical stimulus has yet to convince consumers that inflation will take hold In contrast to t...
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Weak U S consumer spending points to slower first quarter growth
By Lucia Mutikani WASHINGTON Reuters U S consumer spending fell for a second straight month in January as households continued to cut back on purchases opting to save much of the massive windfall from cheaper gasoline Other data on Monday showed factory activity slowed in February and construction spending decl...
JPM
Swiss watchdog sharpens scrutiny of initial coin offerings
By Brenna Hughes Neghaiwi and Joshua Franklin ZURICH Reuters Swiss financial watchdog FINMA has begun investigating a number of initial coin offerings ICOs for possible breaches of Swiss law spelling greater regulatory oversight of some of the most prominent blockchain projects in Crypto Valley The move puts ...
JPM
European shares stay near highs as Spanish sell off eases
By Danilo Masoni and Kit Rees LONDON MILAN Reuters European shares hovered around three month highs on Tuesday as a sell off in Spanish stocks eased and financials gained as Wall Street set fresh records The pan European STOXX 600 STOXX index ended the session up 0 2 percent with Germany closed for a holiday S...