Wells Fargo, JP Morgan, Citi will hike dividends, buy back more stock
The biggest U.S. banks announced plans to buy back tens of billions of dollars in stock and hike their quarterly dividends after passing an annual stress test by the Federal Reserve. Wells Fargo said it would more than double its...
Wobbly Gold Slips Below $1250, U.S GDP Disappoints
Gold has posted small gains in the Thursday session. In the North American session, the spot price for one ounce of gold is $1250.63, down 0.17% on the day. On the release front, U.S numbers were soft for a second...
Pound Under Pressure ahead of British Current Account, GDP
The British pound is under pressure, as GBP/USD has headed lower for a third straight day. In Thursday’s North American session, the pair is trading at 1.3093, down 0.16% on the day. On the release front, U.S Final GDP in...
Here are three reasons why Amazon’s move into drug delivery could be a game changer
Amazon’s interest in the prescription drug business as ripe for disruption took a huge leap forward with Thursday’s announcement that the e-commerce giant is buying online pharmacy PillPack. While the start-up is relatively small with about $100 million in revenue...
Dunedin picks up GPS and looks to Asia
Dunedin has taken a stake in Global Processing Services (GPS) in a deal that concludes a three-year search for a suitable investment in the payments sector. UK private equity house Dunedin invested in a £44 million financing of GPS, a...
FX: Institutional trading restrictions limit risk mitigation, research suggests
Research conducted by JPMorgan Chase Institute suggests greater trading flexibility could help institutional investors navigate market-moving events. JPMorgan Chase Institute analysed institutional investor trading behaviour before, during and after three events: the decision of the Swiss National Bank to remove...
Sterling Downside Breakout Against Dollar and Euro, Risk Aversion Stays
Risk aversion continue to be a main theme in the markets, ahead of quarter end. At the time of writing, major European indices are trading in red. DAX leads again by losing -1.27%, CAC down -0.76% and FTSE down -0.44%....
US weekly jobless claims rose more than expected last week
The number of Americans filing for unemployment benefits increased more than expected last week, but the trend in claims remained consistent with a tightening labor market. Initial claims for state unemployment benefits rose 9,000 to a seasonally adjusted 227,000 for...
US first-quarter growth slowed more than estimated, weighed down by the weakest consumer spending in nearly 5 years
The U.S. economy slowed more than previously estimated in the first quarter amid the weakest performance in consumer spending in nearly five years, but growth appears to have since regained momentum on the back of a robust labor market and...
A rally in stocks is coming but Trump isn’t finished on trade, investment bank warns
A relief rally in stocks will arrive in October but President Donald Trump isn’t finished with his trade demands, according to an investment bank specializing in emerging market assets. The threat of U.S.-led protectionism has sent capital flowing out of...
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