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April 14, 2021

banks

Jamie Dimon says U.S. consumers are ‘coiled, ready to go’ with $2 trillion more in checking accounts

CNBC
CNBC – For more and to sign up click here Jamie Dimon, chief executive officer of JPMorgan Chase & Co., gestures while speaking during a Bloomberg Television interview at the JPMorgan Global Markets Conference in Paris, France, on Thursday, March 14, 2019. Christopher Morin | Bloomberg | Getty Images Government......

JPMorgan Chase is set to report first-quarter earnings – here’s what the Street expects

CNBC
CNBC – For more and to sign up click here JPMorgan Chase CEO Jamie Dimon speaks at the North America’s Building Trades Unions (NABTU) 2019 legislative conference in Washington, April 9, 2019. Jeenah Moon | Reuters JPMorgan Chase is scheduled to report first-quarter earnings before the opening bell on Wednesday.......

Credit Suisse is still unloading shares of Discovery from Archegos

CNBC
CNBC – For more and to sign up click here Credit Suisse is still unraveling its positions from the blow up of Archegos Capital Management, traders told CNBC’s David Faber, putting more pressure on a beaten-down media stock. The investment bank was shopping blocks of different classes of Discovery stock......

Earnings season should boost hot financial stocks, RBC’s top bank analyst predicts

CNBC
CNBC – For more and to sign up click here One of the year’s hottest trades may get a boost from earnings season. RBC Capital Markets’ Gerard Cassidy expects financials to exceed Wall Street expectations when they start reporting this week. “The big beats are likely to come from the......

Qatar National Bank’s Q1 net profit falls 7% as provisions climb

Reuters
DUBAI, April 11 (Reuters) – Qatar National Bank (QNB) , the biggest lender in the Gulf, said on Sunday its first quarter net profit fell by 7% from a year earlier to 3.3 billion riyals ($906 million) as it booked 1.4 billion riyals in “precautionary” loan loss provisions. The bank’s......

Entertainment venues still waiting for a lifeline as tech glitches snarl Covid relief applications

CNBC
CNBC – For more and to sign up click here The Anthem, a popular live music venue, displays a message of support on their marquee on April 3, 2020 in Washington, DC. Drew Angerer | Getty Images At The Independent in San Francisco, it’s been a long, dark year in......

How JPMorgan increased the number of Black interns in its Wall Street program by nearly two-thirds

CNBC
CNBC – For more and to sign up click here JPMorgan building in New York. Scott Mlyn | CNBC JPMorgan Chase boosted the number of Black and female college students selected for investment bank internships by leaning on technology platforms that help the firm broaden out its campus recruiting efforts,......

Exclusive: Brazilian payments network Elo picks banks for IPO – sources

Reuters
SAO PAULO (Reuters) – Brazilian payments firm Elo has chosen six banks to manage its initial public offering, four sources close to the matter said, in the first concrete sign it is proceeding with a move first proposed by shareholders in August. FILE PHOTO: A view of the exterior of......

Jamie Dimon slams state and local tax repeal as a benefit to the rich

CNBC
CNBC – For more and to sign up click here Jamie Dimon, chief executive officer of JPMorgan Chase & Co. Giulia Marchi | Bloomberg | Getty Images Democrats pushing for a repeal of the SALT cap have an unlikely opponent: Jamie Dimon. In his annual shareholder letter, the chairman and......

AmEx’s purchase of online lender Kabbage left desperate PPP borrowers in the cold

CNBC
CNBC – For more and to sign up click here Close-up of logo for finance company Kabbage on paper on a light wooden surface, June 13, 2019. Smith Collection/Gado | Archive Photos | Getty Images When the pandemic shut down Dawn Lindsay’s family carpet cleaning business last year, the U.S.......

Why Banks Will Move Quickly to Sell Distressed Debt

@BreaknNews
   Andrew Van Tuyle LOS ANGELES – April 7, 2021 – — So far, the COVID-19 pandemic hasn’t spawned the waves of property distress that were initially predicted.  However, once lenders can pursue remedies, Andrew Van Tuyle, senior managing director of investments for BH Properties, expects the floodgates to open......

World Bank’s Malpass says slow COVID-19 vaccine rollout in Europe is concerning

Reuters
FILE PHOTO: World Bank President David Malpass responds to a question from a reporter during an opening press conference at the IMF and World Bank’s 2019 Annual Fall Meetings of finance ministers and bank governors, in Washington, U.S., October 17, 2019. REUTERS/Mike Theiler//File Photo WASHINGTON (Reuters) – World Bank President......

Jamie Dimon annual letter: How remote work will change JPMorgan Chase, for better or worse

CNBC
CNBC – For more and to sign up click here People pass the JP Morgan Chase & Co. Corporate headquarters in the Manhattan borough of New York City. Mike Segar | Reuters JPMorgan Chase chairman and CEO Jamie Dimon outlined his vision for a post-pandemic work culture in his annual......

Jamie Dimon says economic boom fueled by deficit spending, vaccines could ‘easily run into 2023’

CNBC
CNBC – For more and to sign up click here Jamie Dimon is bullish on the U.S. economy – at least for the next few years. Dimon, the long-serving JPMorgan Chase CEO and chairman, sees strong growth ahead for the world’s biggest economy, thanks to the U.S. government’s response to......

Morgan Stanley dumped $5 billion in Archegos’ stocks the night before massive fire sale hit rivals

CNBC
CNBC – For more and to sign up click here The night before the Archegos Capital story burst into public view late last month, the fund’s biggest prime broker quietly unloaded some of its risky positions to hedge funds, people with knowledge of the trades told CNBC. Morgan Stanley sold......

Executives at small U.S. banks offer a jolt of optimism

Reuters
FILE PHOTO: People shop, during the coronavirus disease (COVID-19) pandemic, on 5th Avenue in New York, U.S., February 17, 2021. REUTERS/Brendan McDermid WASHINGTON (Reuters) – Community bankers think of themselves as having a keen sense of the economic pulse in the cities, towns and rural areas where they do business,......

Goldman Sachs, Starbucks among organizations pledging to close racial wealth gap in U.S.

CNBC
CNBC – For more and to sign up click here Goldman Sachs, Starbucks and a range of other organizations across the U.S. announced Tuesday a collaborative effort aimed at narrowing the racial wealth gap between Black and white Americans. The initiative, called NinetyToZero, also includes the American Civil Liberties Union,......

Credit Suisse cuts dividend on hit from Archegos hedge fund scandal; investment bank head and chief risk officer step down

CNBC
CNBC – For more and to sign up click here A Swiss flag flies over a sign of Credit Suisse in Bern, Switzerland FABRICE COFFRINI | AFP | Getty Images Credit Suisse on Tuesday announced several high-level staff departures and proposed a cut to its dividend as it weighs heavy......

Japan’s Mizuho says CEO to hold news briefing at 0900 GMT over system failures

Reuters
FILE PHOTO: Mizuho Financial Group’s Chief Executive Officer Tatsufumi Sakai poses for a photo after an interview with Reuters at the company’s headquarters in Tokyo, Japan August 20, 2018. REUTERS/Toru Hanai TOKYO (Reuters) – Mizuho Financial Group Inc said on Monday Chief Executive Tatsufumi Sakai will hold a news briefing......

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