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BNP Paribas prime-brokerage business heads to UBS
... facing the banks prime-brokerage units, which focus on hedge funds by lending them securities and cash for trades. A Paris-based BNP Paribas is trying to become one of the world's biggest players in the business, which is dominated by U.S. lenders like JPMorgan Chase Co. Morgan Stanley and Goldman Sachs Group Inc. UBS lost hundreds of millions of dollars last year on trades with Archegos Capital Management LP, a debacle that has roiled the industry. In an emailed statement, Richard Lindsay said that Nicolas ...
Updated: 07/22/2022
Amazon is buying One Medical for $199 a year
... footprint in health care stretch back a few years, and some initiatives have been more successful than others. In 2018, the company bought online pharmacy PillPack and used that deal to launch Amazon Pharmacy the following year. Amazon has partnered with JPMorgan Chase and Berkshire Hathaway on a health care initiative called Haven, which shuttered somewhat ignominiously last year. Apple AAPL just released a report outlining its moves into health care, and how it plans to build on its health features — from ...
Updated: 07/21/2022
Us banks brace for tougher times ahead
... bracing for harder 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 ...
Updated: 07/21/2022
Meet the lawyers who are suing Elon Musk
... crafted his agreement to purchase Twitter. Musk has also turned in the Twitter lawsuit against Skadden partner Edward Micheletti , a Delaware Chancery Court veteran with a client list that includes Activision Blizzard Inc , Goldman Sachs Group Inc and JPMorgan Chase Co.
Updated: 07/19/2022
The stock market shows it can Swerve any way at any time
... adjust and inflation to moderate. Professional speculators have cut their exposure to mutliyear lows due to the fact that the equities have lost as much as $15 trillion during the bear market run. The dramatic shift in positioning is best illustrated by JPMorgan Chase Co.'s client data on hedge funds that make bullish and bearish equity wagers. Since the start of last year, the group's leverage in the long book has plunged to the bottom 5% of a historic range, after sitting at the highest level possible. Their ...
Updated: 07/18/2022
Goldman Sachs reports 48% slump in second quarter
... equities revenue adding 11%. A plunge in underwriting activity and deals helped offset a hit to the investment banking business, as a risk-averse sentiment gripped global markets. The quarterly report rounds off earnings of big banks and mirrors the JPMorgan Chase Co and Morgan Stanley , both of which saw a lack of revenue from investment banking. Investment banking revenue fell by 41% to $2.14 billion in the quarter. Revenue from equity and debt underwriting fell along with those from advising on stock ...
Updated: 07/18/2022
S&P 500 and S&P SX snap 5-day losing streak, await earnings reports
... America BAC are expected to be the highlights before the market opens on Monday, as the first full week of the second quarter earnings season gets under way. After the closing bell, IBM will deliver its figures. Reports from other big banks, such as JPMorgan Chase JPM , were not received well last week. The market mood brightened Friday and was continuing on Monday after Federal Reserve officials tried to talk down the possibility of a 100 basis point rate hike at next week's policy meeting. There is less ...
Updated: 07/18/2022
Ukraine demands stop financing Russian oil firms
Kiev has demanded that giants like JPMorgan Chase, Citigroup and Credit Agricole stop financing firms that trade Russian oil. Kiev has demanded that giants like JPMorgan Chase , Citigroup and Credit Agricole stop financing firms that trade Russian oil. A top Ukrainian official said that major ...
Updated: 07/18/2022
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