Jupiter Fund Management’s assets break another record as outflows accelerate July 30, 2021 British fund manager Jupiter reported a rise in interim profit, record inflows and assets under management, offsetting a jump in outflows from the year earlier. Assets under management finished the six months to June 30 at £60.3bn on June 30, exceeding the £60bn mark for the first time and jumping 54 per cent from £39.2bn [...]
SEC halts Wall Street IPOs of Chinese companies as mulls new risk disclosures July 30, 2021 The US Securities and Exchange Commission (SEC) has frozen registrations of Chinese companies for IPOs on US markets while it drafts new guidance for disclosing the risk of a Beijing regulatory crackdown to investors. Chinese companies must not submit registrations for the sales of securities to the SEC until it has formulated new rules on how [...]
Amazon falls short of estimates amid retail competition July 29, 2021 Amazon reported second quarter sales that missed Wall Street expectations on Thursday, in a rare shortfall as rival retailers ramped up online sales and brick-and-mortar made a recovery when lockdown restrictions eased. The e-commerce giant posted net quarterly sales of $113.08bn to June 30, up from $88.91bn a year earlier. Its results fell short of [...]
Robinhood shares slide below offer price on Wall Street debut July 29, 2021 Shares in popular trading platform Robinhood slumped below their offer price immediately after their Nasdaq debut on Thursday, in a lacklustre start to one of this year’s most anticipated IPOs. In what signalled slack investor demand for the online brokerage – which exploded in popularity during the pandemic amid retail investor appetite – shares fell [...]
Carlyle raises $10.4bn in second quarter as pursues largest ever private equity fund July 29, 2021 Global investment firm The Carlyle Group took in $10.4bn from investors in the second quarter and nearly doubled its earnings, as it looks to raise what would represent the industry’s biggest ever buyout fund. Carlyle posted robust second quarter distributable earnings growth on Thursday, rising to $395.4m from $198.4m in the same period last year. [...]
Mastercard profits jump more than a third as easing Covid restrictions boost spending July 29, 2021 Mastercard beat expectations and posted a 36 per cent rise in profits in the second quarter, buoyed by an overall increase in spending as vaccine rollouts accelerated, lockdowns lifted and travel picked up. Adjusted net income rose 36 per cent to $1.9bn from $1.4bn in the same period last year. Corresponding earnings per share reached [...]
US scientists: China is developing its nuclear force with a second base July 28, 2021 Researchers in the US said they have gathered evidence that China is expanding its ability to store and launch missiles, amid concerns it is amassing more nuclear capacity. China is building 250 silos for nuclear missiles in “the most significant expansion of the Chinese nuclear arsenal ever,” according to a new report from the Federation [...]
Fed says US economy has ‘made progress’ but holds rates at near-zero July 28, 2021 The Federal Reserve deems the US economy to be “strengthening” despite rising coronavirus cases, but not so much that it feels ready to wind down its economic support policies. In a new policy statement released on Wednesday following its two day meeting, the US central bank said: “With progress on vaccinations and strong policy support, [...]
Global ETF boom continues with record inflows in first half of the year July 28, 2021 Global exchange traded funds (ETFs) attracted record inflows in the first six months of 2021, as investors poured in amid low interest rates, an equities rally and “cheap money” lending. Investors worldwide ploughed $639.8bn into ETFs between January and June, a half year record and more than double that of the same period last year, according [...]
Morgan Stanley boosts pay for junior bankers worldwide July 28, 2021 Morgan Stanley has raised base salaries for entry-level bankers in its investment banking and global capital markets division, following in the footsteps of Wall Street rivals. The US Investment bank has hiked base pay to $100,000 for first-year bankers and a minimum of $105,000 for second years, according to people with knowledge of the matter. [...]