Five key takeaways from Jamie Dimon’s letter to JPMorgan’s investors
Jamie Dimon, CEO of JPMorgan Chase & Co (JPM.N), published his closely watched annual letter to shareholders on Monday, covering critical issues including the war in Ukraine, the energy crisis, sanctions, inflation and interest rates
Futures subdued as tech stocks extend fall; Fed minutes awaited
U.S. stock index futures were subdued on Wednesday ahead of minutes from the Federal Reserve’s December meeting, even as big technology stocks continued to fall, with Salesforce.com declining after a brokerage downgrade.
Marketmind: Melt up?
As confidence grows that the world’s biggest central banks are in no hurry for raising interest rates despite progress on the jobs and post-COVID reopening fronts, stock markets have powered to new record highs. A stronger S&P 500 close on Tuesday would see it notching its longest winning streak since 2004.
StanChart flags flat annual income despite strong Q3 profit; shares drop
Standard Chartered (STAN.L) forecast flat income for the full year amid “uneven” economic recovery from the pandemic, even as it turned in a stronger-than-expected quarterly pre-tax profit, sending its shares lower on Tuesday.
Citi considering bitcoin futures trading for some institutional clients
Citigroup Inc (C.N) is considering offering bitcoin futures trading for some institutional clients, a spokesperson for the bank said on Tuesday, citing increased demand in the cryptocurrency space.
EXCLUSIVE China’s tech crackdown thwarts Pony.ai’s U.S. listing plans -sources
Autonomous driving startup Pony.ai has put on hold plans to go public in New York through a merger with a blank-check firm at a $12 billion valuation, after it failed to gain assurances from Beijing that it would not become a target of a crackdown against Chinese technology companies, people familiar with the matter said.
Glencore reaches $9.85 mln zinc rigging settlement in New York
Glencore Plc (GLEN.L) agreed to pay $9.85 million to resolve a private U.S. antitrust lawsuit accusing two units of the Anglo-Swiss mining company of trying to monopolize the market for zinc, driving up its price.
Most institutional investors expect to buy digital assets, study finds
Seven in 10 institutional investors expect to invest in or buy digital assets in the future, although price volatility is the main barrier for new entrants, a study by Fidelity’s cryptocurrency business found.
AB Volvo warns chip woes to linger after narrow profit miss
Sweden’s AB Volvo (VOLVb.ST) warned on Tuesday of more production disruptions and stoppages this year after chip shortages prevented the truck maker from fully capitalising on strong demand for its vehicles in the second quarter.
UBS profit leaps 63% in Q2 amid wealth management boom
UBS (UBSG.S) on Tuesday posted a 63% jump in second-quarter net profit, easily beating expectations as buoyant markets continued to help the world’s largest wealth manager generate higher earnings from managing money for the rich.
