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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....
...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....
...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...
...All that is Wallace melts into Claire Rishi Sunak has brought Grant Shapps, one of the Conservative government’s great survivors, into the Ministry of Defence, to replace Ben Wallace, who will stand down...
...Wells Fargo shares closed 1.4 per cent lower in New York on Tuesday, as the S&P 500 dropped 0.1 per cent....
...Defence secretary Ben Wallace is stepping down at the next election and leaving the cabinet this summer....
...Lucy Fisher William Wallace, thanks for joining. [MUSIC PLAYING] It’s not just the government’s team that looks different at the end of this week than it did at the beginning....
...The charge has been helped by the S&P 500, which has closed at a record high on 22 separate occasions during the quarter....
...It’s all change at the Ministry of Defence this morning, as Grant Shapps is set to be announced as defence secretary, after Ben Wallace formally resigned from the role....
...stephen.bush@ft.com...
...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....
...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....
...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...
...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.)...
...*This article has been amended to clarify that it was the boss of P&O Ferries involved in firing 800 crew over Zoom....
...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....
...It’s the verdict of Stephen Fisher, one of the academics behind the projected national share in the local elections....
...Stephen BushYeah....
...Would that make sense to you, Stephen, just to replace Ben Wallace, who we know is going to step down as defence secretary?...
...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....
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