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...We est. that Citi’s market value implies an ROTCE of only about 5-6%, or about half Citi’s target of 11-12% in 2025E-2026E. (c) 1 LOB (“Services”) = almost all of Citi’s market cap....
...“And the challenge here is having to grow profitably in new markets that will require investments. This will be a delicate balancing act.”...
...Tim Moore, economics director at S&P Global Market Intelligence, which compiles the survey, said: “Although only modest and slower than indicated by the earlier ‘flash’ PMI reading, the downturn in UK service...
...A Citi trader last month made erroneous trades on European stocks, a move later blamed for causing a mini flash crash....
...in both the services and manufacturing sectors....
...The paper, entitled “LLM in a Flash”, offers a “solution to a current computational bottleneck”, its researchers write....
...This year, erroneous trades were placed by a trader at the bank on European stocks, causing a mini-flash crash....
...They cause what's called a flash crash, a sudden drop in a number of European stocks, because of a fat finger trading error....
...Brands are encouraged to offer flash sales and heavy discounts, which TikTok often subsidises....
...I think a lot of people were anticipating a V-shaped recovery . . . People are now waking up the realisation that volatility is going to be normal going forward.”...
...WarnerMedia’s targets for adjusted earnings before interest, taxes, depreciation and amortisation were off by $2bn, the result of a rapidly declining advertising market and what the company has said were...
...Netflix’s subsequent loss of subscribers caused the company’s market cap to dip $54bn that year. Disney, NBCUniversal and Paramount lost a combined $8.3bn on their streamers....
...S&P Global’s flash eurozone composite purchasing managers’ index, a measure of activity in manufacturing and services, rose to 50.2 in January from 49.3 in the previous month, figures on Tuesday showed....
...The S&P Global/Cips UK flash composite purchasing managers’ index, which tracks monthly changes in manufacturing and services activity, was broadly unchanged at 48.3 in November, compared with 48.2 in October...
...Across the eurozone, the service sector malaise has also calmed, in part driven by signs of a less intense cost of living squeeze and, in the financial services sector, fewer concerns over the tightening...
...Email me your thoughts at sid.v@ft.com. Latest news Amy Kazmin in Rome has a fascinating piece on why Giorgia Meloni is pushing back on Italy’s shift to digital payments....
...Washington’s latest crackdown topples years worth of Chinese tech companies’ investment to break into the US market. This bad news could spread....
...Chris Williamson, chief business economist at S&P Global Market Intelligence, said October’s flash PMI data showed “the pace of economic decline gathering momentum” after recent political and financial market...
...So, clearly, that paradigm is totally out of whack with services that are offered for free using an ad-supportive model, based on siphoning off your data....
...“There might be a case for saying this isn’t a flash in the pan and the way that investors see investing has changed, particularly millennials, but not exclusively them.”...
...S&P Global’s flash eurozone composite purchasing managers’ index — a key gauge of business conditions — fell 0.7 points to 48.2, its lowest level since January 2021 and the third consecutive month below...
...services....
...Eurostat publishes eurozone economic growth data for the second quarter on Friday alongside flash inflation....
...German businesses were “hiking their charges for goods and services to offset the higher cost of energy, fuel, raw materials and personnel”, according to a report accompanying S&P Global’s May flash purchasing...
...S&P Global’s “flash” PMI for the services sector is expected to rise to 45 in September from 43.7 last month....
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