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...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....
...Citigroup has appointed top JPMorgan investment banker Vis Raghavan as head of banking, completing its new management team and attempting to jump-start an underperforming business....
...Freshfields has hired David Boles as a partner on its global transactions practice and equity capital markets team in London. He previously worked for Cooley....
...It seems that markets had already discounted what the Fed chair had to say. Sometimes markets follow policy and sometimes policy follows markets. The trick is to know which times you are living in....
...returns, instead markets may actually lead PMIs....
...Global investors have increasingly turned away from the Chinese listings that dominate the city’s stock market, thanks in large part to an economic slowdown in the mainland and worsening tensions between...
...Citigroup plans to deepen its involvement in China’s financial markets with the launch of an investment banking unit in the country, even as rivals grow more cautious there....
...The writer is senior adviser at Engine AI and former chief global equity strategist at Citigroup Like many, I am depressed by the direction the world seems to be taking....
...Russia is a key producer of all three metals, generating 6 per cent of the world’s aluminium, 4 per cent of copper and 11 per cent of high purity nickel metal, according to Citigroup....
...Renewable energy sector In a down market for solar, 1Komma5 thinks it has what it takes to go public Certain energy markets have been known to be widow makers, and for at least the past 12 months, the...
...Those factors have prompted global investors to look elsewhere in the region — such as Japan and India — for higher returns, sapping Hong Kong’s market of liquidity....
...ICBC and BOC have been setting up more branches along the Belt and Road regions across Asia to diversify away from previous focus on developed markets....
...Rival Citigroup, meanwhile, reported better than expected quarterly profits as the bank said it was on track to shed 7,000 jobs this year. Shares in Citigroup fell 1.7 per cent on Friday....
...Today’s top stories BlackRock is buying Global Infrastructure Partners for $12.5bn in a deal that creates the world’s second-biggest infrastructure firm and shakes up private market investing....
...But debt costs are still lower than in the 1990s when de-equitisation took off,” said Robert Buckland, a former chief global equity strategist at Citigroup who coined the term 20 years ago....
...The IMF estimates the size of the global private credit industry at just over $2tn, most of which is in the US, rivalling the high yield and leveraged loan markets....
...Ed Morse, a veteran oil and commodities analyst known for often bearish market outlooks on crude, is leaving his post at Citigroup after 12 years, the bank said in a memo....
...Apple lost its lead in the global smartphone market at the start of 2024, with iPhone sales falling 10 per cent as lower-cost Chinese rivals such as Xiaomi experienced rapid growth....
...Disruptions to global chip supply cannot be ruled out, even if no damage is found at chipmaking facilities....
...Since the MD and VP titles are almost meaningless, you might think that global co-head is also either a vanity title or a piece of marketing. That’s not quite true....
...But that pales beside the millions being sold annually by global rivals in their respective home markets....
...For S&P, it is the latest deal to bolster its offering to compete with the likes of Bloomberg in the market for financial data....
...Global head of trading Magid Shenouda is leaving the commodity house Mercuria where he was once tipped as a potential successor to the group’s founders, according to a person familiar with the matter....
...The recovery in global corporate bond and loan markets began after the Federal Reserve signalled it sees a path to cutting interest rates later this year....
...Markets are pricing in 1.3 percentage points of ECB cuts this year....
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