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...US asset managers Fidelity and Capital Group between them raised their stakes by more than SFr1.5bn and are now top-10 independent shareholders, according to data from S&P Capital IQ....
...Audit fees are disclosed in US companies’ proxy statements ahead of their annual shareholder meetings, which have occurred in the past two months at most S&P 500 companies....
...Chief executive Stephen Squeri earned the maximum annual bonus allowed by the company for 2022: $10.3mn, which was up from $8mn in 2021....
...Canada’s main stock index, the S&P/TSX Composite, has advanced 31 per cent since 2019, compared with a 74 per cent gain for the S&P 500....
...Canada’s main stock index, the S&P/TSX Composite, has advanced 31 per cent in the last five years, compared to a 74 per cent gain for the S&P 500....
...The share gains were fuelled by its fast-rising assets under management, which eclipsed $1tn for the first time, and its inclusion into the S&P 500 index....
...Tuesday’s share price drop extended the plunge in the Austin-based carmaker’s stock this year to 33 per cent, making it one of the worst performers in the S&P 500 with a trajectory that continues to diverge...
...The slowdown has sent Tesla’s shares down 31 per cent this year, making it the second-worst performer on the S&P 500....
...Last year, Wells Fargo signed a deal to lend billions to a new credit fund run by Centerbridge, a $40bn private equity firm that led the buyouts of restaurant chain P.F....
...Over that same period, the S&P 500 has surged more than fourfold; even mainland China’s underperforming Shanghai Composite has far outdistanced the Hong Kong bourse....
...Giles Edwards, an analyst for S&P Global, said that “rising earnings mark a welcome normalisation after years of margin compression, but they do not alleviate all of the structural challenges to banks’ profitability...
...Wells Fargo shares closed 1.4 per cent lower in New York on Tuesday, as the S&P 500 dropped 0.1 per cent....
...Additional reporting by Sylvia Pfeifer in London and Stephen Morris in San Francisco...
...Riskier car loans made during the height of the pandemic have more repayment problems than in previous years, according to data from S&P’s Global Ratings....
...The benchmark S&P 500 index was down 0.2 per cent, with 290 stocks lower on the day. The tech-heavy Nasdaq Composite stood 0.1 per cent higher. European equity markets were closed....
...The charge has been helped by the S&P 500, which has closed at a record high on 22 separate occasions during the quarter....
...streak with the sale of 1mn shares, worth about $140mn, will catapult Dimon to the top of the table for stock sales by current US bank executives, a Financial Times analysis of data from VerityData, S&P...
...The Russell 2000 index has risen 24 per cent since the beginning of 2020, lagging behind the S&P 500’s more than 60 per cent gain over the same period. Read the full story. 4....
...After an early move higher, the S&P 500 swung into negative territory during late-morning trade and finished down 0.7 per cent from Thursday’s record closing high....
...S&P said the majority of the restatements resulted in lower uninsured deposits....
...(P.S.: If you happen to go to the Kansas Banker Association’s annual meeting, details here, please do drop Alphaville an email. Thanks in advance.)...
...S&P Global, the rating agency, dropped coverage of 64 municipal bond issuers earlier this year because they failed to file audited financial statements on time....
...*This article has been amended to clarify that it was the boss of P&O Ferries involved in firing 800 crew over Zoom....
...The S&P 500 gained 1.1 per cent on Friday to a record high as a surge in tech stocks helped the market shrug off the change in interest rate expectations....
...But no one has ever offered enough to satisfy Stephens....
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