JPMorgan Chase’s quarterly profit more than doubled but revenues fell as lower interest rates, lacklustre loan demand and a slowdown in trading activity from the height of the pandemic took a toll. The bank’s overall revenue fell 8 per cent from the second quarter of 2020 to $30.4bn while profit rose from $4.7bn last year
admin
Traders on the floor of the New York Stock Exchange. Source: NYSE Earnings season begins with two major tailwinds: sky-high prices and soaring expectations. On paper, second-quarter earnings season looks like the mother of all earnings reports, with estimates having risen steadily for the past six months, from expected 45% growth in January to 65% growth
Revenue at Goldman Sachs rose in the second quarter as a strong performance in its asset management unit made up for a slowdown in the trading bonanza that boosted the Wall Street bank’s earnings in the early months of the Covid-19 pandemic. Goldman’s total revenues were $15.4bn, up 16 per cent from a year ago
Some of the world’s biggest money managers are betting on a swift comeback for battered reflation trades. JPMorgan Asset Management, BlackRock and Morgan Stanley Wealth Management — which together account for some $12 trillion in assets —- say the bond-market gains that have sent yields into a sudden tailspin are nothing to worry about. It’s
The Middleby Corporation (MIDD) announced that it has acquired Belgium-based premium residential appliance brand, Novy. The financial terms of the deal have been kept under wraps. Shares of the U.S.-based commercial and residential cooking and industrial process equipment company were up 1.1% to close at $176.93 on July 12. (See MIDD stock charts on TipRanks) Novy is a
In this article BA JPM PEP Check out the companies making headlines before the bell: PepsiCo (PEP) – The snack and beverage giant gained 1.3% in premarket trading, after beating estimates on the top and bottom lines and raising its full-year forecast. PepsiCo earned an adjusted $1.72 per share for the quarter, 19 cents above
Samuel Clemens, the writer known as Mark Twain, is celebrated at a museum in Hartford, Connecticut, at the grand house he and his wife, Olivia, built in 1874. Although he earned quite a bit of money, Clemens made a number of unwise investments; the family experienced financial insecurity and, for a time, lived in Europe to
The secretary-general of the African Continental Free Trade Area (AFCFTA) secretariat, Wamkele Mene, says Africa will “one day have a common currency” via a proposed “Pan-African Payment and Settlement System (PAPSS).” He adds that such a currency will help “ease constraints of settling intra-African trade in foreign-denominated currency.” Challenges Ahead In comments recently carried by
Billionaire Richard Branson’s flight aboard a Virgin Galactic spacecraft Sunday marks a publicity milestone for New Mexico’s Spaceport America two weeks after a successful debt refunding. “Fifteen years ago, New Mexico embarked on a journey to create the world’s first commercial spaceport,’’ Branson said Sunday. “Today, we launched the first human spaceflight from that very
Silver price returns to test 26.25 resistance line, noticing that stochastic shows clear overbought signals, waiting to motivate the price to resume the expected bearish trend for the upcoming period, which targets testing 25.65 level mainly. We should note that breaching 26.25 and holding with a daily close above it will open the way to
Some gold commentators claim that Basel III only affects when banks hold so-called “unallocated” or “paper” gold. Worse, are those who say it… by Keith Weiner of Monetary-Metals There is sometimes a tendency to confuse ends and means. For example, in traveling through an airport there is extensive inspection of passengers. Before you are allowed
Samsung SDS, the information and communication technologies (ICT) arm of Samsung, launched a new service named Paperless to provide reliability and transparency of documents in a cloud environment. Launched as a cloud-based blockchain-as-a-service (BaaS) solution for enterprises, Paperless manages sensitive documents such as contracts, consent forms and certificates on blockchain to prevent forgery and falsification.
There are almost as many different rewards programs are there are credit cards. Common benefits offered include: Air Travel Miles Many credit cards partner with specific airlines and offer more generous air travel miles if you fly with them. There are many airlines cards to choose from, such as the American Express Gold Delta SkyMiles card
In this article SPCE NASA Administrator Bill Nelson on Monday commended Virgin Galactic founder Richard Branson after he traveled to the edge of space as a passenger on his company’s VSS Unity spacecraft. “We put up Alan Shepard and Gus Grissom into suborbit 60 years ago, and now we’ve come to this, and I think
More than 2.19m people passed through airport security checkpoints on Sunday, a pandemic-era high, as the US travel industry continued to rebound. One year ago on the same day, only 754,545 people were screened, the Transportation Security Administration said. Thousands of Iranians have rushed to neighbouring Armenia in recent weeks in an attempt to receive
Rival apps to Didi Chuxing are rushing to lure drivers and users as they seek to take advantage of a cyber security crackdown on the Chinese ride-hailing market leader following its blockbuster New York listing. Didi accounts for 90 per cent of all car bookings in China, but the country’s estimated 230 ride-hailing apps are
After its 50th deal over the past 15 years, one of the largest RIA consolidators is predicting that wealth management’s record-breaking M&A won’t be letting up in the near future. Captrust purchased Nachman Norwood & Parrott Wealth Management, a Greenville, South Carolina-based firm with eight financial advisors managing more than $2.1 billion in client assets,
The recent approval of Biogen’s Alzheimer’s Disease (AD) drug Aduhelm (aducanumab) has signaled a seismic shift in the AD space. Prior to the go ahead from the regulators, no treatment that sought to address the underlying causes of the notoriously difficult to treat memory-wiping condition had ever been approved. However, following a negative AdCom and
A decade ago, the Sunset Strip in the West Hollywood neighborhood of Los Angeles was known for its nightlife scene and being a hotspot for the paparazzi. But in recent years, it has undergone a transformation, becoming a true luxury enclave. Then, in June 2021, the opening of Pendry Residences West Hollywood by Montage Hotels
JPMorgan has offered its view on the bitcoinization of El Salvador, the country which recently made bitcoin legal tender alongside the U.S. dollar. JPMorgan says, “It is difficult to see any tangible economic benefits associated with adopting bitcoin as a second form of legal tender.” JPMorgan on the Bitcoinization of El Salvador JPMorgan & Chase’s
Today’s column addresses questions about Social Security’s earnings test, options once reaching full retirement age and having received disability benefits and which month can be optimal to file in. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security Planning, Inc, which markets Maximize My Social Security
Municipals were little changed with a slightly weaker tone outside of 10 years Monday ahead of a larger and diverse primary as the second week of July reinvestment kicks into gear. U.S. Treasuries fluctuated but held mostly steady after midday auctions. The 30-year UST sat just at 2% near the close while triple-A municipal benchmark
(Kitco News) The new U.S. inflation figures from June are looking like the fresh driver that gold is in need of, according to analysts. June’s CPI data is scheduled to be released on Tuesday. And market consensus forecasts are calling for the annual number to come in around 5%, while the annual core inflation measure
The financial system is going to go down. It’s not a matter of if, but when. One of the things that will make this coming so-called “reset” even worse is… Bill Holter interviewed on USA Watchdog by Greg Hunter Precious metals expert and financial writer Bill Holter has been predicting the financial system is going
As the pressures placed on the market by China’s cryptocurrency crackdown begin to subside and the Bitcoin (BTC) hashrate starts to show signs of recovery, traders are now focused on how the price will be affected by this week’s unlocking of more than $550 million worth of Grayscale’s GBTC shares. Data from Cointelegraph Markets Pro and
The channel is a powerful yet often overlooked chart pattern and combines several forms of technical analysis to provide traders with potential points for entering and exiting trades, as well as controlling risk. The first step is to learn how to identify channels. The next steps include determining where and when to enter a trade, where
European Central Bank unity on its new inflation target could dissolve into division as early as next week when policymakers meet to discuss changing its guidance on raising interest rates, its president Christine Lagarde has warned. The bank’s rate-setters are due to meet next Thursday for their first discussion since they last week launched a unanimously
Art at the cryptocurrency conference Bitcoin 2021 Convention at the Mana Convention Center in Miami on June 4, 2021. Marco Bello | AFP | Getty Images Cryptocurrencies are in a summer slump as they navigate a two-month correction period following a string of negative stories. Trading volumes at the largest exchanges, including Coinbase, Kraken, Binance
David Cameron was paid a salary of more than $1m by Greensill Capital, the finance company whose dramatic collapse exposed the former prime minister’s extensive lobbying efforts. Two people familiar with the matter said Cameron received the large annual salary for his part-time advisory role, which included an increasingly desperate attempt to secure government funds
One of the largest wealth managers’ desire to grow financial advisors’ practices has led to its hiring of a new head of business consulting. Michele Dillon started at Cetera Financial Group in April and has over 30 years of experience in the industry. She was most recently employed at St. Petersburg, Florida-based financial services firm