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...“The suspects transferred the funds to their bank accounts in Austria, Romania and Slovakia as soon as they received the advance payments,” the EPPO said....
...And here’s what I’m keeping tabs on today and over the weekend: Results: Several large US banks report annual results today, including Citigroup, JPMorgan Chase, Wells Fargo and Bank of America....
...But the Fed’s so-called “pivot” in December — when the central bank gave its strongest signal yet that it was prepared to begin lowering rates — sparked a dash back into credit funds....
...Profits at Wells Fargo fell from $5bn to $4.6bn. Private equity pioneer KKR is predicting a revival in global IPOs and takeover activity after a two-year slowdown....
...Earnings at JPMorgan Chase, Bank of America, Wells Fargo and Citigroup were up 23 per cent. By contrast profits at all other institutions dropped by an average 19 per cent in the quarter....
...JPMorgan Chase, Citigroup and Wells Fargo collectively earned $49bn in net interest income in the second quarter, the difference between what the banks pay for deposits and earn from loans and other assets...
...Other operating costs also seem to be going in the right direction; distribution costs — THG’s traditional bugbear — reduced to 14.6 per cent of revenue, on a reported basis, down from 18 per cent last time...
...The Stoxx Luxury 10 index — whose constituents derive around 26 per cent of earnings from China, according to Barclays estimates — has risen 9.3 per cent this year, well ahead of the 0.8 per cent gain in...
...Mounting losses from banks in the US, Asia and Europe have revived fears over the US commercial property market, which has been under pressure from the shift to homeworking and higher interest rates....
...Of the Big Six banks, Citigroup, Goldman Sachs, Wells Fargo and Morgan Stanley are all expected to report a drop in their earnings per share this quarter. JPMorgan will be the exception....
...Less than three weeks into Pick’s tenure as chief executive, Gorman’s exit after 14 years looks even more well-timed....
...Red-state treasurers blacklisted big financial groups including BlackRock, Goldman Sachs, State Street and Wells Fargo....
...BlackRock is still searching for an acquisition to bolster its profile in private funds. Here are more details from the talks. 3....
...JPMorgan Chase, Citigroup and Wells Fargo collectively earned $49.6bn in net interest income during the third quarter, about 30 per cent up on the same period last year....
...up average returns of about 14 per cent a year....
...Barclays was comfortably first placed — with a total of $17.7bn in loans and underwriting of bond and equity issuance — followed by JPMorgan, Bank of America, Citi, Wells Fargo and MUFG....
...Carl Emmerson Well, I think we do need to step back from this current, rather odd system we’re in and work out what we want from the system....
...But the declines come after everyone said the “acute” phase of the banking crisis is over; from Fed Chair Jay Powell to Wells Fargo analyst Mike Mayo and his former frenemy Jamie Dimon....
...Wells Fargo has hired Barclays’ telecommunications investment banker David Kase in New York, according to Bloomberg....
...Gross domestic product was unchanged in the three months to September, down from an expansion of 0.2 per cent in the previous three months, slightly better than economists had expected and in line with Bank...
...Unlike private credit funds with locked-up capital, policyholders of life insurance products can withdraw their assets, creating the conditions for a “run on the bank” if loss rates were to rise in private...
...Bank of America rose 2.1 per cent, while Wells Fargo and JPMorgan Chase added 4.5 per cent and 3.5 per cent, respectively....
...The Big Four accounting firm was auditor to both banks, as well as to Signature, which was seized by regulators in March....
...But they punch above their weight: as of 2022, Goldman estimated multi-managers account for 27 per cent of the total hedge fund industry’s holdings in US equities, up from 14 per cent since 2014....
...Most of its bondholders are global funds headquartered in the UK and US, he adds....
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