Hints and tips:
...Part of the reason for the profit drop was last year’s banking turmoil — the Federal Deposit Insurance Corporation imposed a one-time charge on many US banks in order to pay for losses, which the FDIC’s...
...Stuart Adam, senior economist at the IFS, said: “Cancelling the rise in corporation tax will encourage investment in the UK, and therefore help to grow the economy — if companies believe it will last.”...
...But JPMorgan had “received a waiver because it was by far the best deal” for the Federal Deposit Insurance Corporation, one person briefed on the transaction, opening the floodgates for what JPMorgan estimates...
...Not increasing corporation tax next year, that’s exactly the sort of thing that we want. And all that kind of U-turn as we’ve seen the market instability....
...Reach out to me (imani.moise@ft.com) or Sid (sid.v@ft.com) to let us know. Happy reading!...
...Truss eventually set out plans to reverse Sunak’s increase in corporation tax and national insurance, at a cost of about £30bn....
...You do not do U-turns, you “spin round”....
...Companies converted production lines to serve a public purpose: brewers and cosmetics firms made hand gel, fashion companies made personal protective equipment and even Formula One engineers made low cost...
...Optimists, including most politicians and some central bankers, hope the recovery will not resemble a U or an L shape, but a V for victory. Market indices appear to agree....
...The City of London Corporation, the municipal authority covering the heart of the capital, had encouraged companies to return to their offices....
...The terms include examining the impact of a V-shaped recovery, where economic growth falls sharply and then rebounds; a U-shaped recovery “in which only a small share of lost output and employment is regained...
...Likely more U-shaped than V-shaped, as governments (and consumers) will be very cautious around the potential for secondary waving of infection; Scale of the recovery....
...A life insurance company from the euro area has obligations to its policyholders in euros, but will typically hold a globally diversified portfolio with a substantial portion being dollar-denominated assets...
...By division, AWM was in line, but stronger AuM and stronger net inflows bode well for outlook. CIB missed on lower EQ revenues, while Insurance & Corporate Center beat. Payments were line....
...Here’s Peel Hunt on RSA Insurance: We view the recent sell off in the share price as having been overdone....
...Italy/ U.S.: 11,442/ 5,436 as of 5-Apr vs. 1,423/ 42 as of 12-Mar)....
...My own feeling is that this will not be a V or even a U-shaped recovery, but a downwardly trending W that has a high risk of turning into a L....
...Institutions such as Daiichi Life, a Japanese insurance company, and individual investors have invested in the bonds....
...We agree a full-price stance is appropriate for branded fashion companies....
...• Funds flow to equities relative to bonds has never held up this well (given performance and low bullish sentiment) because: i) bonds risk no longer diversifying, and ii) pension/insurance companies’...
...Europe and the U.S....
...Financials the key sector beneficiary: We are Overweight Banks and Insurance from a top-down strategy perspective....
...Yes, the numbers are bigger, but the shock, while not a V is shorter and sharper than that crash, and the pre-crisis fiscal situation was strong....
...As Donald Trump’s pick to chair the Federal Deposit Insurance Corporation, Ms McWilliams kept specific policy goals to herself when she made her first public appearance to an audience of bankers this month...
...Until, that is, the Department of the Treasury started to demand title insurance companies identify beneficial owners in certain counties....
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