Banking feed

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Morgan Stanley
Macau Daily Times· 07 Jul 2020

‘Worst quarter ever’ for gaming sector, predict analysts

American banking firm Morgan Stanley has predicted that the casino operators’ quarterly earnings before interest, taxes, depreciation, and amortization (EBITDA) for the second quarter of this year will be the “worst quarter ever,” expecting the six concessionaires to have a combined quarterly loss of around $1.04 billion (8.3 billion patacas).

  • Morgan Stanley
  • Financial and Business Performance
  • News Articles
  • News and Other Websites
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Morgan Stanley
Financialadvisoriq· 07 Jul 2020

Banks Open Their Wallets to Address Racial Inequities

Morgan Stanley, Wells Fargo, Bank of America, JPMorgan Chase and Goldman Sachs are among the financial institutions that have committed to donate to groups that seek to address racial inequities. All five announced new charitable initiatives after the May 25 killing of George Floyd by police.

  • Wells Fargo Bank NA
  • Morgan Stanley
  • Business Expansion
  • News Articles
  • News and Other Websites
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JPMorgan Chase & Co.
The Economic Times· 07 Jul 2020

JPMorgan Chase appoints three new MDs

Global investment bank JPMorgan Chase has appointed three new managing directors elevating existing executives. The appointment demonstrates the bank’s growing focus on India presence. They include India chief economist Sajiid Chinoy, Madhur Agarwal – head of debt capital market and Rajagopal Guhaprasath, who is overseeing the wholesale payments team.

  • JPMorgan Chase & Co.
  • Management Changes
  • News Articles
  • News and Other Websites
American Express Company
Miles to Memories· 07 Jul 2020

Fluz App Purchases Eligible for Shop Small Amex Offer

This post may contain affiliate links; please read our advertiser disclosure for more information. Fluz App Purchases Eligible for Shop Small Amex Offer Fluz is an app that earns you cashback for purchases online and ins-tore.

  • American Express Company
  • New Offerings
  • Company Websites
Ally Financial Inc
Bankinnovation· 07 Jul 2020

Ally’s Muthukrishnan, chief information, data and digital officer, to speak at Bank Innovation Build

Share Sathish Muthukrishnan, chief information, data and digital officer at Ally Financial, will speak at Bank Innovation Build, which will be presented in a fully digital format from Sep. 9-10. Muthukrishnan will take part in a panel titled, “Case studies on getting digital transformation back on track.” “Now more than ever, digital transformation is mission critical for organizations of all sizes and in all industries,” Muthukrishnan said.

  • Ally Financial Inc
  • Events
  • News Articles
  • Company Websites
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SunTrust Banks, Inc.
Seeking Alpha· 07 Jul 2020

Square's market cap climbs to rival those of big banks (NYSE:SQ)

Square's (SQ +5.0% ) market capitalization doubled since May to ~$55B, surpassing that of Truist Financial (TFC +0.8% ) and all but four banks in the KBW Bank Index. At Thursday's close, Square's market cap was $49.8B, far from reaching JPMorgan Chase's (JPM +1.9% ) $282B and Bank of America's (BAC +1.6% ) $202B.

  • SunTrust Banks, Inc.
  • Keefe Bruyette & Woods Inc
  • Competitive Landscape
  • News Articles
  • News and Other Websites
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SunTrust Banks, Inc.
Philippine Star· 07 Jul 2020

Suntrust foreign ownership limit lifted

MANILA, Philippines — Suntrust Home Developers Inc., yesterday announced that its foreign ownership limit has been lifted. In a disclosure to the Philippine Stock Exchange (PSE), Suntrust said that on Dec. 20, 2019, the Securities and Exchange Commission (SEC) approved the company’s application for registration under the Foreign Investments Act of 1991.

  • SunTrust Banks, Inc.
  • Regulatory and Legal
  • News Articles
  • News and Other Websites
Morgan Stanley
Morgan Stanley· 06 Jul 2020

Jim Caron

Invests in a mix of U.S. denominated investment-grade securities, particularly U.S. government, corporate and securitized assets. Invests in U.S. denominated investment-grade securities (government, corporate, and securitized) and may invest opportunistically in non-investment-grade and non-U.S. bonds and currencies.

  • Morgan Stanley
  • Capital Investment
  • Infographics
  • Company Websites
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Bank of America Corp
Benzinga· 06 Jul 2020

What A Biden Victory Could Mean For US Steel Industry

U.S. steel stocks have had a tough run under President Donald Trump, but Bank of America analyst Timna Tanners says things might not get much better for steel stocks if presumptive Democratic nominee Joe Biden wins the White House in November.

  • Bank of America Corp
  • United States Steel Corporation
  • Regulatory and Legal
  • News Articles
  • News and Other Websites
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Bank of America Corp
Benzinga· 06 Jul 2020

BofA Says Vroom's Growth Prospects Are Already Priced In

The spike in Vroom Inc’s (NASDAQ: VRM) stock from an IPO price of $22 less than a month back suggests that the company’s strong near-term potential is already priced in, according to BofA Securities. The Vroom Analyst: Nat Schindler initiated coverage of Vroom with a Neutral rating and $60 price target.

  • Bank of America Corp
  • Vroom
  • Funding Activities
  • News Articles
  • News and Other Websites
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Citigroup Inc
Business Today· 06 Jul 2020

Coronavirus impact: India's GDP may contract 6% in FY21, says Citi

India's gross domestic product (GDP) growth is expected to contract 6 per cent in financial year 2020-21 amid rising coronavirus cases, a brokerage said. The revision by Citigroup is mainly owing to a cut to the fiscal first-quarter forecast, with the economy seen falling 21 per cent during the period compared to 16 per cent estimated earlier.

  • Citigroup Inc
  • Procurement and Sales
  • News Articles
  • News and Other Websites
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Citigroup Inc
PE Hub Network· 06 Jul 2020

Private Equity Jobs of the Week: Great Point, Citi and HPS are hiring

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  • Citigroup Inc
  • Hiring
  • News Articles
  • News and Other Websites
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TD Bank, N.A.
Actionforex· 06 Jul 2020

US: The Non-Manufacturing Sector Expands Again in June

The information contained in this report has been prepared for the information of our customers by TD Bank Financial Group. The information has been drawn from sources believed to be reliable, but the accuracy or completeness of the information is not guaranteed, nor in providing it does TD Bank Financial Group assume any responsibility or liability.

  • TD Bank, N.A.
  • Business Expansion
  • News Articles
  • News and Other Websites
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Citigroup Inc
Seeking Alpha· 06 Jul 2020

Semi revenue 'collapse' is delayed, says Citi

Following new monthly data from the Semiconductor Industry Association, Cit remains cautious on semi stocks as "revenue is on track to easily outgrow GDP in a recession, which doesn’t make sense." Citi says the "economic stimulus and inventory hoarding is delaying or prolonging the collapse in semi revenues," and sees 2020 semi sales down 2% Y/Y versus the prior view of a 9% decline.

  • Citigroup Inc
  • Semiconductor Industry Association
  • Financial and Business Performance
  • News Articles
  • News and Other Websites
JPMorgan Chase & Co.
Rmahq· 06 Jul 2020

RMA's GCOR to Focus on Culture, Third-Party Risk Management, Emerging Risks

Philadelphia, PA (March 8, 2019) — Alice Wang of JPMorgan Chase to address RMA's 13th annual Governance, Compliance, and Operational Risk Conference regarding ways Libor replacement will affect banks Leading banking industry experts will share their experiences regarding AI, machine learning, and blockchain, as well as their views on evolving cyber resiliency and third-party risk management practices at GCOR XIII.

  • JPMorgan Chase & Co.
  • The Risk Management Association
  • Blockchain
  • Infographics
  • Company Websites
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Infosys Ltd
Marketbeat· 06 Jul 2020

Infosys (NYSE:INFY) Raised to Conviction-Buy at Goldman Sachs Group

Infosys (NYSE:INFY) was upgraded by equities research analysts at Goldman Sachs Group from a "buy" rating to a "conviction-buy" rating in a research note issued on Monday, The Fly reports. A number of other analysts also recently weighed in on the company.

  • Infosys Ltd
  • Goldman Sachs Group Inc
  • M&A Activities
  • Financial and Business Performance
  • News Articles
  • News and Other Websites
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Citigroup Inc
Modern Ghana· 06 Jul 2020

Mahama To Present Running Mate To NDC’s NEC Today

The flagbearer of the opposition National Democratic Congress (NDC), John Dramani Mahama, is expected to announce the choice of his running mate at the party's National Executive Committee meeting later this morning, Monday, July 6. Citi News sources indicate that the flagbearer will present the name of former Education Minister, Jane Naana Opoku Agyeman as his preferred choice for the position.

  • Citigroup Inc
  • British Labour Party
  • Events
  • News Articles
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IBM
Businessinsider India· 06 Jul 2020

IBM, Accenture, Morgan Stanley and others hiring software developers and big data engineers

The demand for technology professionals such as software engineers and developers has been on a rise as the remote working model accelerated the adoption of digital technologies. Every week, Business Insider collates interesting vacancies across marquee organisations.

  • IBM
  • Morgan Stanley
  • Hiring
  • Big Data/Analytics
  • News Articles
  • News and Other Websites
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Wells Fargo & Co
Investorplace· 06 Jul 2020

Avoid Wells Fargo Stock Before Its Earnings Report

On June 25, the Federal Reserve announced the results of its annual stress tests and additional sensitivity analyses for banks, such as Wells Fargo (NYSE: WFC ). Following speculation about the bank’s dividends, on June 29, the California-based bank cut its dividend for the third quarter.

  • Wells Fargo & Co
  • Financial and Business Performance
  • News Articles
  • News and Other Websites
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JPMorgan Chase & Co.
Reuters· 06 Jul 2020

Marex Spectron hires JP Morgan executive Vittal as North America boss

LONDON (Reuters) - Commodities broker Marex Spectron has hired JP Morgan executive Ram Vittal as head of its North American business. Marex said in a statement on Monday that it hoped to increase revenue from North America from its current level of one-third of the total.

  • JPMorgan Chase & Co.
  • Marex Spectron Group
  • Management Changes
  • News Articles
  • News and Other Websites
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Credit Suisse Group AG
Ahvalnews· 06 Jul 2020

Turkey bans foreign banks including Goldman from short-selling stocks

Turkey banned six foreign banks from short-selling stocks for up to three months. The measures will apply to Goldman Sachs Group, JPMorgan Chase, Merrill Lynch International, Barclays Bank, Credit Suisse and Wood & Co., the Istanbul Stock Exchange said in a statement on Monday.

  • Credit Suisse Group AG
  • JPMorgan Chase & Co.
  • Merrill Lynch International
  • Goldman Sachs Group Inc
  • Regulatory and Legal
  • News Articles
  • News and Other Websites
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Morgan Stanley
Gambling Insider· 06 Jul 2020

Macau to announce US$1 billion loss in Q2 2020 EBITDA

Macau casino operators are expected to announce quarterly EBITDA losses of more than US$1 billion up to 30 June in what investment bank Morgan Stanley is calling the ‘worst quarter ever’. In a Monday note while previewing the 2Q20 results season, Morgan Stanley’s Praveen Choudhary and Gareth Leung outlined expected EBITDA losses of around US$1.04 billion between the six concessionaires, including US$286 million by Sands China and US$205 million by Melco Resorts & Entertainment.

  • Morgan Stanley
  • Financial and Business Performance
  • News Articles
  • News and Other Websites
Morgan Stanley
Macaubusiness· 06 Jul 2020

Melco and Sands to report highest gaming revenues in Q2 – Brokerage

With a major downturn in results for all gaming concessionaires, brokerage Morgan Stanley predicts that Sands China and Melco Resorts will report the highest gaming revenues in the second quarter of this year. According to the financial company, Melco Resorts is expected to report some US$120 million (MOP957.9 million) in gaming revenues for the period between April and June, still, a 92 per cent year-on-year fall, with Sands China expected to report US$91 million, a 96 per cent drop from the same quarter last year.

  • Sands China Ltd
  • Morgan Stanley
  • Financial and Business Performance
  • News Articles
  • Company Websites
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BNY Mellon Corp
Pymnts· 06 Jul 2020

BNY Mellon Partners With Early Warning Services For Faster Payment Times

Bank of New York (BNY) Mellon has announced a new partnership with risk and payments solution provider Early Warning Services, aiming to boost digital B2B payments services for clients. The offering will include flexibility, according to a press release, allowing clients to either choose BNY Melon’s services or one of the company’s Private Label Bank relationships.

  • BNY Mellon Corp
  • Partnerships and Alliances
  • News Articles
  • News and Other Websites
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Citigroup Inc
Modern Ghana· 06 Jul 2020

Govt’s Reason For Military Deployment ‘An Offside One’ – Franklin Cudjoe

President of IMANI Africa, Franklin Cudjoe, has described as needless the explanation given by the government for the deployment of military personnel to the Volta Region and other border towns. On Citi TV ‘s current affairs show, The Big Issue , he stated that the deployment has nothing to do with the importation of the disease into the country as people are already flouting the coronavirus protocols.

  • Citigroup Inc
  • Regulatory and Legal
  • News Articles
  • News and Other Websites
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