Hints and tips:
...The company “was saddled in the spin-off” with some lossmaking accounts and is “doing well” at repricing these and increasing margins, said James Friedman, an analyst at SIG who covers the company....
...But, of course, there’s a reason why it’s widely called Shitibank; the sprawling, gormless Citi has for a v v v very long time proven adept at blithely ambling onto various rakes around the world....
...“To be fair, in the last 20 years or so HPE missed some of the trends, even though we understood the trends . . . That’s why the next inflection point is a very important inflection point,” he said....
...James Gorman, who stepped down as chief executive of Morgan Stanley at the start of 2024, was paid $37mn, up 17.5 per cent year on year. Goldman lifted David Solomon’s pay by 24 per cent to $31mn....
...General merchandise prices were lower than a year ago, he told analysts, “but not as much as the trend line would have suggested” at the end of the preceding quarter....
...Holy God Citi’s done a deep-dive on PMIs. Everybody loves PMIs right?...
...Nvidia, which reports its fourth-quarter results in late February, has experienced the most direct continuation of last year’s AI-focused trend....
...If it returns to its expected long-term trend this year, the business should make £50mn-60mn in earnings on revenue of about £350mn of sales....
...Zoom out beyond Morgan Stanley and Citi and their moves hint at broader pressures....
...The writer is a former chief global equity strategist at Citigroup In 1998, Citigroup poached a team of equity professionals, including me, from HSBC James Capel....
...Still, some eyebrows were raised at the Citi news over at Alphaville....
...Driving the trend is a dwindling inventory of prime drilling locations as the shale revolution that transformed the US into the world’s biggest oil and gas producer enters its twilight years....
...Goldman, Bank of America, JPMorgan Chase, Morgan Stanley, Citi and UBS are on the deal....
...“I am seeing more deals getting put on the platform,” said James Dow, who leads commercial banking at Citizens Trust Bank, a small lender based in Atlanta that has used the platform....
...Chief operating officer Helen James will leave. “It’s a nice, proper transition and carefully done,” said Parker, adding that it was the “right time” for a change....
...That trend holds more broadly, reports Bloomberg: Blackstone Inc. recently sought a $250 million loan at a rate of around 4.75 percentage points over the US benchmark to finance its planned purchase of...
...Foreign investors have dumped tens of billions of dollars worth of Chinese stocks and bonds this year, a trend exacerbated by much higher interest rates in the US....
...This followed a similar trend globally, with inflows totalling $610mn (€560mn) in June and July, according to CoinShares data....
...That carry trade has worked out nicely for wholesalers,” said Citi’s Simon Hales....
...Goldman Sachs chief executive David Solomon’s pay fell almost 30 per cent to $25mn for 2022, while Morgan Stanley boss James Gorman had his pay cut 10 per cent to $31.5mn....
...I believe that the long-term trends for the [industry] are negative....
...Citi’s AI “basket”, for example, offers a one-stop shortlist of apparent AI beneficiaries such as Adobe, the design software company....
...In the context of a tricky 2022 for US banks, the group bucked the trend and bumped up Fraser’s remuneration by 9 per cent to $24.5mn....
...Citi bucked the expected trend in another closely watched area of banking these days: deposits....
...Citi, which was handed a S$400,000 penalty, said: “The case dates back to before June 2020 and since then we have taken steps to strengthen our know your customer process.”...
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