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...A third-party administrator, Andrea Fruhstorfer of the Austrian law firm EcoLaw is supervising the process. The Signa Group’s collapse is one of the most complicated corporate bankruptcies in Europe....
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...The administrators have agreed to sell about two-thirds of the 8 per cent stake in Anthropic for about $884mn to a group of 22 investors, including ATIC and Jane Street, according to filings on Friday....
...Last week, Wells announced that it had hired Thomas Nides, a former top executive at Morgan Stanley, to be its new head of public affairs. Related and Wells Fargo declined to comment....
...Despite this, in recent days executives from the country’s four largest banks — JPMorgan Chase, Bank of America, Citigroup and Wells Fargo — said during earnings calls that consumers were resilient....
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...JPMorgan Chase, Citigroup and Wells Fargo were all able to charge more on loans while increasing payouts on deposits more slowly....
...The company also said it would bring in an external third party to review its quality management systems....
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...UTA said in a statement that Kassan had been fired “following a thorough and exhaustive third-party investigation into misappropriation of company funds”, adding that it had filed a lawsuit against Kassan...
...Big consumer banks such as JPMorgan Chase and Wells Fargo have been able to charge more for loans as the Fed has lifted benchmark interest rates to a 22-year high, without having to pass on commensurately...
...The API gives third-party apps access to Reddit data. These changes put an end to the social network’s homespun origins and add a new revenue stream....
...But, as New York University’s Alison Taylor wrote in response to our story, the quality of this third-party assurance needs scrutiny too....
...Analysts are forecasting that JPMorgan and Wells Fargo will be the only banks whose profits rose in the third quarter compared to a year earlier, according to consensus data compiled by Bloomberg....
...A version of this article was first published by Nikkei Asia on February 7. ©2024 Nikkei Inc. All rights reserved....
...JPMorgan Chase, Citigroup and Wells Fargo collectively earned $49bn in net interest income in the second quarter, the difference between what the banks pay for deposits and earn from loans and other assets...
...But Citi’s profit rise still trailed gains at rivals JPMorgan Chase and Wells Fargo, and executives warned of a weakening consumer economy....
...Chart of the day Results from four of the US’s largest banks on Friday — JPMorgan Chase, Bank of America, Citigroup and Wells Fargo — showed their lending businesses benefited significantly from higher...
...Hertz has quickly decided to reverse course and said earlier this year it would cut a third of its EV fleet....
...Beyond advertising, Reddit is seeking to diversify its revenues, for example by charging third parties to access its data, which was previously free....
...It follows the likes of JPMorgan Chase, Barclays, Rabobank, Wells Fargo, Société Générale and Deutsche Bank....
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