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European banks count cost of employee messaging
... biggest US investment banks are poised to extract $1 billion in fines from the regulators. JPMorgan Chase Co. settled its case in December by agreeing to pay $200 million, while Morgan Stanley said earlier this month it expects to pay a similar amount. Citigroup Inc. and Goldman Sachs Group Inc. are preparing for penalties, as are Bank of America Corp. and Goldman Sachs Group Inc. No return-to- office strategies to avoid being there all the time.
Updated: 07/28/2022
UBS analyst warns China Evergrande’s stock collapse a warning
... support the sector. There have been several smaller developers filing for bankruptcy in local courts in China, according to an official disclosure platform, although such cases have been rare among larger builders. Lam is not alone in calling for caution. Citigroup Inc. analysts expect to see near-term share price shocks ahead of weak first-half results. HSBC Holdings Plc analysts believe that investors should be prepared for a broad risk-on rally if policy eases meaningfully. While deleveraging may take ...
Updated: 07/28/2022
US banks raise prime lending rates
The Federal Reserve's latest interest rate move has caused US banks JPMorgan Chase Co, Citigroup and Wells Fargo to raise their prime lending rates by 75 bps to 5.5% on Wednesday. The Federal Reserve's latest interest rate move has caused US banks JPMorgan Chase Co, Citigroup and Wells Fargo to raise their prime lending rates by 75 ...
Updated: 07/28/2022
High-grade debt deals to slow down next week as Fed hikes
... wait- and- watch mode ahead of the next Fed meeting. The data compiled by Bloomberg News shows that the issuance so far this year stands at $69 billion, a 77% drop from the $301 billion it was from the same period last year. A club of banks headed by Citigroup and BofA has postponed the $5.4 billion buyout financing that was supposed to launch this month to help fund Apollo Global Management Inc. 's acquisition of Tenneco Inc. The lenders have decided to launch the high-yield bond offerings after ...
Updated: 07/23/2022
Money managers pull bets on biggest energy fund
... because of the clarity on China reopening and the pace of global economic growth. There is still a lot of uncertainty that leads to some extremely divergent calls on global oil prices. According to Ed Morse , global head of commodities research at Citigroup Inc. , the world's economic slowdowns and robust supply growth mean crude prices are moving more towards $50 over time than $150, despite producer interventions. Oil could reach $380 if US and European sanctions over the Ukraine war cause Russia ...
Updated: 07/23/2022
Reuters-Guggenheim appoints three bankers from Citigroup
Three investment bankers from Citigroup Inc's oil and gas team have been hired by Reuters-Guggenheim Securities as competition for talent in the sector intensifies amid a surge in energy prices that favors dealmaking, according to people familiar with the matter. Three investment ...
Updated: 07/22/2022
India firms rush to hedge overseas dollar debt
... outflow, according to data compiled by Bloomberg in 1999. The rise of dollar-rupee forward premiums is evidenced by increased demand for hedging, and the process is poised to become a key source of depreciation pressure on the rupee, according to Citigroup Inc. In a research note this month, Citi economists Samiran Chakraborty and Baqar Zaidi said that holders of external debt are likely to refinance their debt or repay from forex revenue sources. The US Fed tightening could raise the cost of ...
Updated: 07/21/2022
Us banks brace for tougher times ahead
... despite the fact that they are not seeing major signs of a looming recession. Credit card spending is still healthy and Wall Street is doing well, with credit card spending still being healthy, according to data from JPMorgan Chase , Wells Fargo and Citigroup . Mark Conrad, a portfolio manager at Algebris Investments , told CNN: If you looked at the bank numbers and did not think there was a recession around the corner. In the last month, JPMorgan Chase CEO Jamie Dimon caused investors to raise ...
Updated: 07/21/2022
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