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...Brands that did not use Entain’s in-house technology platform accounted for about a third of net gaming revenues in the first half of last year, according to company figures....
...The new chief executive of St James’s Place has said he will conduct a review of every element of the business, as inflows to the group’s products nearly halved last year....
...Wealth manager St James’s Place has slashed its final dividend by 78 per cent and said payouts will remain at a fixed level for the next three years....
...Net inflows to St James’s Place’s products nearly halved last year, as economic upheaval and attractive returns on cash dented clients’ confidence in long-term investments....
...While net inflows dropped from £9.8bn in 2022 to £5.1bn last year, funds under management rose 13 per cent to £168bn, and SJP’s adviser base grew 3 per cent to 4,834....
...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....
A look at the reported LBO offer for Macy’s
...Those figures, as well as adjusted net income of $1.47bn, all beat the expectations of analysts polled by Bloomberg....
...At wealth manager St James’s Place, clients matter a lot but so does its network of 2,622 partners. These “partners” received 238 mentions in the last annual report....
...Citi reported net income of $3.4bn in the quarter, down 25 per cent from a year ago but better than the $2.3bn that analysts had forecast....
...“All of that then leads you to a view of net zero happening later,” Grant Dougans, a partner at Bain, told Energy Source....
...But even without their net inflows of $11bn in the three months to the end of March, active ETFs as a whole still attracted record amounts of investor money....
...Having Blizzard game licences in its portfolio is not just about the boost to its net income. Crucially it gives NetEase an edge over Tencent, its biggest local rival....
...And net-net the winners are not the gamblers but the casino....
...This puts financial pressure on listed wealth advisers such as St James’s Place. Few have excelled in this niche of the asset management industry more than SJP....
...Earnings: Full-year results are due from FTSE 100-listed wealth manager St James’s Place....
...St James’s Place said its unit trust, life and pension property funds had net withdrawals of £211mn, £131mn and £191mn respectively over the past 12 months....
...The latter, whose core customers are lower income Americans living in rural areas, eked out a 0.7 per cent rise in same-store sales but suffered a 39 per cent drop in net income during the fourth quarter...
...Additional help by Zach St. Louis, Persis Love, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez....
...Additional help by Zach St. Louis, Josh Gabert-Doyon, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez....
...SAP’s announcement “does go to show this is not a net job loss; it’s more of a reskilling”, said TD Cowen analyst Derrick Wood....
Cryptocurrency down 16% from its peak as net fund flows turn negative
...Analysts forecast that the net charge-offs — the portion of loans with losses that are marked as unrecoverable — will rise for JPMorgan, BofA, Citi and Wells to pre-pandemic levels....
...This follows from basic national income accounting: when capital inflows exceed outflows, US net foreign investment is, by definition, negative and, in turn, implies a negative trade deficit....
...Forty-nine per cent of the ETFs that reduced fees in 2022 experienced increased net flows in 2023, Ignites Europe analysis of Morningstar data finds....
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