BlackRock beats profit estimates on robust inflows as investors pour money into funds July 14, 2023 BlackRock on beat second-quarter profit estimates, as investors continued to pour money into its various funds on the back of a rally in markets after a bruising start to the year. Markets have staged a comeback so far this year, braving the Federal Reserve’s rate hikes and a banking crisis that have raised risks of [...]
Standard Chartered sells up in sub-Saharan African and turns to faster-growing markets like Saudi and Egypt July 14, 2023 Standard Chartered announced today that it would sell its subsidiaries in sub-Saharan Africa to Nigeria-based Access Bank. The bank will sell its stake in subsidiaries in Angola, Cameroon, Gambia and Sierra Leona as well as its consumer, private & business bank in Tanzania to Access Bank. “Access Bank will provide a full range of banking [...]
Planet Crypto: Gary Gensler’s gonna have to face it, he’s addicted to suing July 14, 2023 The chieftains of chuckles at Planet Crypto have been at the comedy crayons again, and once more it's Gary Gensler on the canvas.
Explainer: A scoresheet on Rishi’s five pledges July 14, 2023 With Parliament’s summer recess approaching, it is usually a good time to draw some conclusions on the current political situation. For the prime minister, it doesn’t look good. Rishi Sunak started the year outlining his five pledges for 2023: halve inflation, grow the economy, reduce the national debt, cut NHS waiting lists and stop the [...]
Wells Fargo beats expectations thanks to rising rates as Citi’s profits fall 36 per cent on dealmaking slowdown July 14, 2023 Citi struggled with rising costs and falling fees in the second quarter while its Wall Street rival Wells Fargo benefitted from higher interest rates. Citi saw its profit fall 36 per cent year on year as it was hit by the global decline in dealmaking, but its performance was still better than analysts had predicted [...]
Crypto is in Wonderland and upside-down in the rabbit hole July 14, 2023 Monty picks up a book he hasn't read in a while, and draws comparisons with Alice in Wonderland and the world of crypto.
JP Morgan profits jump as bank benefits from rising rates – but boss Jamie Dimon warns of ‘salient risk’ July 14, 2023 JP Morgan beat expectations again as it reaped the rewards of rising interest rates and its takeover of First Republic, but the bank boosted loss provisions significantly. In the second quarter, the Wall Street giant recorded net income of $14.5bn, 67 per cent higher than last year and ahead of analyst expectations. Its shares were [...]
Gold holds on to heavy gains as Fed signals victory in battle against inflation July 14, 2023 Gold markets have consolidated this week's price rally, following encouraging inflation data from the US.
EP: 214 Newmarket, York, Ascot & Hong Kong July 14, 2023 The Group 1 July Cup, the Group 2 Superlative Stakes and the Bunbury Cup are all highlights on the final day of Newmarket’s July festival on Saturday. We speak to husband and wife team Julie Camacho and Steve Brown who send Shaquille down to Newmarket for the big race. Ascot hosts the Group 2 Summer Mile and [...]
The Punter Summary Podcast 15 July July 14, 2023 Here’s your chance to discover all of City AM racing editor Bill Esdaile’s Saturday selections in a short summary episode of ‘The Punter Podcast’ alongside Chris Barnett. The full preview is also available on the City AM website. The Punter ‘The Punter’ has been City AM’s dedicated sports betting section for over a decade with [...]
