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...In a global energy strategy report sent to clients this week, the US investment bank said efforts to reduce the use of coal, oil and gas had been set back by higher interest rates, inflation and wars in...
...Shares in JPMorgan Chase — the biggest bank in the US by assets — fell 3.7 per cent after its latest earnings underwhelmed investors, even as profits surpassed analysts’ forecasts....
...JPMorgan Chase, Bank of America, Wells Fargo and Citigroup collectively made $253bn in net interest income (NII) for the whole of 2023 — a 19 per cent jump from 2022’s total....
...In a 20-year period that has been lousy for banks generally, JPMorgan has kept up with the S&P 500 and, recently, beaten it....
...That puts the net figure on course for a third consecutive year of decline — a phenomenon not seen since the bank’s data series began in 1999....
...A Russian court has ordered the seizure of JPMorgan Chase funds totalling $439.5mn a week after Kremlin-run lender VTB launched legal action against the largest US bank to recoup money stuck under Washington...
...Slowing growth of electric vehicle sales has caused a series of corporate U-turns. While sharp swerves are never fun, the change in direction is sensible....
...JPMorgan Chase chief executive Jamie Dimon said the US economy was “booming” but warned that he was “on the cautious side” of there being a soft landing....
...A new unit, Chase Media Solutions, will help brands target the bank’s customers based on their spending history....
...A Russian court has ordered the seizure of JPMorgan Chase funds totalling $439.5mn after state-owned lender VTB filed a lawsuit to “recover losses” from the largest US bank....
...This is not just a matter of regulation, though....
...The bank’s burst of friendly fire comes just a few weeks after the Bank for International Settlements became the latest to flag that the explosion of option-based investment funds may be contributing to...
...JPMorgan Chase shares fell by the most in almost four years on Friday as an underwhelming outlook for its lending business overshadowed an increase in first-quarter profits at the US’s largest bank....
...This is a wholly separate issue from the issue of bank runs: The ease of a financial super-app may be what prompts you to chase down an extra 50 basis in points, but the clunkiness or lack of an app is unlikely...
...Despite being the number six US bank by size, it only has a sixth of JPMs assets. It is still basically a regional bank, albeit a big one....
...The bank’s upgrade follows its forecast last week that Brent crude prices will hit $90 a barrel by the third-quarter....
...But banks led by JPMorgan Chase lobbied hard to underwrite a financing over the past four months....
...European stocks closed higher on Thursday, boosted by a strong performance in real estate and industrials. The region-wide Stoxx 600 was up 0.8 per cent....
...It’s only barely enough for inclusion into the S&P 500....
...If stock leadership remains narrow in 2024, active managers may find themselves in a vicious cycle of again having to compete with momentum chasing index funds and being forced to chase an even more concentrated...
...This is notwithstanding that a large share of USDT’s reserves comprise short-term U.S. treasury bills and other U.S. dollar cash equivalents....
...Over the past two years, big banks such as JPMorgan Chase, Bank of America, Citigroup and Wells Fargo charged more for loans in lockstep with the Fed lifting interest rates, without passing on the increase...
...The bank takes an optimistic view, and wrote that “2024 may finally be the year that proves that an exit path to prolonged sovereign defaults indeed exists,” thanks to Zambia’s deal, along with reports that...
...The bank said in a proxy filing also released on Monday that “an orderly CEO transition in the medium term” was a top priority for its board of directors....
...US blue-chips ended their best quarter in five years, with the S&P 500 squeezing out a 0.1 per cent gain even as big tech names including Apple, Tesla and Meta dragged the Nasdaq Composite to a similar-sized...
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