Hints and tips:
...Neither the monster national players (JPMorgan Chase, Bank of America, Wells Fargo, Citigroup) nor the regionals (PNC, M&T, et al) have had much to say about the economy’s effect on credit quality....
...They found that the standout stocks today are at much cheaper valuations than the stars of the 90s were, and while the valuations of the Magnificent 7 et al do look a lot like the “Nifties,” they tend to...
...The riskiest, most beat-up members of the group (KeyCorp, Comerica, Zions, Western Alliance et al) rose the most....
...Raisi also met Egyptian president Abdel Fattah al-Sisi for the first time, on the sidelines of a Riyadh summit of the Organization of Islamic Co-operation on Gaza — a rare meeting between leaders of the...
...“American politics is dysfunctional, and America has no economic agenda for Asia.”...
...Between mid-2020 and mid-2021, Bank of America added $470bn of mortgage-backed securities and Treasuries, hoping to capture a bit of additional yield....
...Amazon is investing $115mn in exchange for a minority stake in the television networks that screen some of America’s biggest sports....
...Another week, another wave of transatlantic sniping around America’s Inflation Reduction Act....
...But as Steven Kelly of the Yale Program on Financial Stability pointed out to me, Yellen et al will need the goodwill of the big banks should some other bank or banks get into trouble....
...In the old days, such financing would be the coveted preserve of syndicated loan powerhouses such as JPMorgan, Bank of America or Citigroup....
...Arrival is merging with Kensington Capital Acquisition Corp V, paying a huge premium in order to add $300mn to its balance sheet. It is a desperate move that is unlikely to trigger a Spac revival....
...arts expert also finds the stamina to chair First Abu Dhabi Bank....
...Four weeks ago, Philip Dybvig, Douglas Diamond et al won the Riksbank Prize....
...firm Greensill Capital....
...An enormous amount of capital expenditure is going into what they hope is a new boom in generative AI....
...William Mansfield, Credit Suisse’s head of M&A for Europe, the Middle East and Africa, is departing for a new role at Deutsche Bank....
...A group of banks led by Morgan Stanley and including Bank of America and Barclays, committed $13bn in financing for the deal in April when debt markets were still relatively stable....
...Fox Corp reports results....
...in Alibaba, Bank of America, Wells Fargo and Chinese carmaker BYD among others....
...Email me at sid.v@ft.com. Reach Imani at imani.moise@ft.com. PS I’ll be interviewing Jonas Templestein, the co-founder of Monzo Bank, at the FT Future of Finance summit on June 16-17....
...Michael Hartnett’s team at Bank of America describes sentiment as “appalling.”...
...They look at Facebook’s past five years and its attempts — frequently belated, often ambiguous — to deal with the way that state actors (Russia et al), hoodlums (such as the Proud Boys), politicians (a list...
...Emmanuel Faber was ousted this year as chief executive of Danone, the French food company that is B Corp certified in North America, amid shareholder unrest over a sustainability drive....
...It’s not a consumer bank. It’s not a business bank....
...I am an oldhead unable to process the new world that Miami is the capital of. Like many of the changes in America over the past five years, I’m not sure I want to be part of it....
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