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C-PRK
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UPDATE 1-UK Libor trader Hayes given permission to appeal rate-rigging conviction at Supreme Court
UK Libor trader Tom Hayes given permission to appeal rate-rigging conviction at Supreme Court. Hayes was convicted in 2015 of conspiracy to defraud by manipulating Libor. He is the first trader jailed worldwide for interest rate rigging. Hayes and another trader have appealed against their conviction earlier this year.
Reuters · 2h ago
EX-LIBOR TRADER TOM HAYES GRANTED PERMISSION TO APPEAL RATE-RIGGING CONVICTION AT UK SUPREME COURT
Reuters · 3h ago
BofA payments app for businesses handled record $500 billion by mid-year
BofA payments app for businesses handled record $500 billion by mid-year. Payments on the app are projected to exceed $1 trillion this year from $802 billion last year. Banks aim to capitalize on surging payments revenues worldwide. Bank of America’s CashPro app handled a record $ 500 billion in payments through its clients.
Reuters · 3h ago
RPT-BREAKINGVIEWS-CrowdStrike in cursed grip of corporate klutz club
Cybersecurity software developer CrowdStrike has lost 20% of its market capitalization. The average stock-price drop in a crisis is 12%, says John Foley. CrowdStrike is latest big company to gauge willingness of investors to move past a catastrophe. He says it's hard to imagine a similar outcome for a company in corporate klutz club.
Reuters · 4h ago
EXCLUSIVE-Barclays reaps hedge fund riches in battle of the prime brokers
Barclays climbs to fifth in prime brokerage fee battle. Prime brokers serve hedge funds' increasingly complex trades. British bank has risen to 5th in the revenue table for prime broking for the year to the end of June. Goldman Sachs, JPMorgan and Morgan Stanley dominate the industry. Business shows stable returns & growing slice of equities fees.
Reuters · 5h ago
UPDATE 3-Julius Baer shares slide on profit miss, tepid cash inflows
Julius Baer shares slide on profit miss, tepid cash inflows Shares fall 10% following results Net profit missed forecasts CEO says customer concerns over Signa losses fading. Swiss private bank's shares fall 10%. Julius Baer reported only a tepingid increase in cash infl flows from rich clients.
Reuters · 10h ago
BREAKINGVIEWS-CrowdStrike in cursed grip of corporate klutz club
Breakingviews: CrowdStrike in cursed grip of corporate klutz club. Cybersecurity software developer has lost 20% of its market capitalization. The average stock-price drop in a crisis is about 12%, says John Foley. It's hard to imagine a similar outcome for CrowdStrike, he says.
Reuters · 1d ago
METALS-Copper around 3-1/2-month low on demand concerns, risk-off sentiment
Copper prices hover around 3-1/2-month low on demand concerns, risk-off sentiment. Three-month copper on the London Metal Exchange down 0.1% to its lowest since April 3. Lower-than-expected second quarter economic growth and a lack of stimulus in China sparked sell-off in metals.
Reuters · 1d ago
UPDATE 3-BNP Paribas' retail weakness takes shine off equity trading boost
France's BNP Paribas reports 21% rise in second-quarter earnings to 3.4 billion euros. Q2 equity markets sales up 58% but French retail NII down 11% BNP shares fall 2% in early Paris trading. The euro zone's biggest bank's results aided by a 58% jump in equities trading.
Reuters · 1d ago
UPDATE 2-BNP Paribas beats estimates as trading revenues jump
BNP Paribas beats estimates as trading revenues jump Q2 equity markets sales up 58% Q2 French retail NII down 11% Confirms 2024 targets. The euro zone's biggest bank says investment banking revenue jumped 21% in the second quarter. BNP's equities trading revenues up 58%. The bank's retail division was hit by a sharp drop in interest income.
Reuters · 1d ago
METALS-Copper slides on China demand worries
Three-month copper on the London Metal Exchange down 0.4% to three-and-a-half month low. Physical demand in top consumer China has been dampened by recent price surges and property crisis. But miner Freeport-McMoran remains bullish on copper demand.
Reuters · 1d ago
UPDATE 1-Barclays raises 2024 S&P 500 target to 5,600 from 5,300
Barclays raises 2024 target for the benchmark S&P 500 index to 5,600 from 5,300. Brokerage expects strong profit growth for mega-cap technology firms. Barclays joins peers in raising their annual targets for the index. The index is up 16.6% so far this year.
Reuters · 2d ago
Brokerages lift S&P 500 target on hopes for soft landing, rate cuts
Brokerages lift S&P 500 target on hopes for soft landing, rate cuts. U.S. GDP forecasts for Goldman Sachs, UBS forecasts on EUR USD. Forecasts spurred by expectations of a "soft landing" for the economy and growing odds of Fed rate cuts this year.
Reuters · 2d ago
BUZZ-Archrock slides as stock offering prices to fund buy of Apollo-owned TOPS
Shares of energy infrastructure firm Archrock down 8.8% at $21.30 premarket. Archrock sells 11 mln shares at 10.1% discount to stock's last sale. Firm to use proceeds to fund buy of Apollo-owned TOPS from Apollo Global Management.
Reuters · 2d ago
China electric truck startup Windrose to raise $200 mln before US IPO, source says
China electric truck startup Windrose to raise $200 mln before US IPO, source says. Windrose aims to build overseas assembly plants to serve clients in Europe and the United States. Belgium's wealth funds have already committed a $50 million equity investment in Windrose.
Reuters · 2d ago
METALS-Copper hits multi-month low on growing Chinese demand fears
Copper hits multi-month low on growing Chinese demand fears. Three-month copper on the London Metal Exchange dropped 0.6% to $9,159.50 a metric ton. Prices hit their lowest in three and a half months on growing concern over demand in top consumer China.
Reuters · 2d ago
UPDATE 4-Bosch to buy Johnson Controls air-conditioning assets in $8 billion deal
Bosch to buy Johnson Controls air-conditioning assets in $8 billion deal. German engineering group's largest takeover to date. Bosch says deal will strengthen its Bosch Home Comfort arm. Deal includes JCI's North America ducted business and a joint venture with Hitachi.
Reuters · 2d ago
BUZZ-Archrock falls after announcing acquisition of Apollo-owned firm, stock offering
Archrock's AROC.N shares down 6.9% at $21.75 in extended trading. Firm announces acquisition of Apollo-owned firm, stock offering to fund cash portion of deal. Archrock shares have more than doubled in the past 12 months. Apollo Global Management is Apollo's portfolio company.
Reuters · 2d ago
UPDATE 1-Embraer formalizes C-390 sales to Austria, Netherlands; deliveries from 2027
Embraer formalizes C-390 sales to Austria, Netherlands; deliveries from 2027. Deliveries to start in 2027 and conclude by 2030; five aircraft to the Netherlands and four to Austria. Two European countries selected the aircraft to replace their aging Hercules C-130s. Brazilian planemaker aims to increase production to 12 aircraft annually by 2030. Analyst praise the deal amid rising global military spending.
Reuters · 2d ago
CITIGROUP - APPOINTS ED HUNTSMAN AS HEAD OF FINANCING, MARKETS, FOR JAPAN, ASIA NORTH & AUSTRALIA, AND ASIA SOUTH
Reuters · 3d ago
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About C-PRK
Citigroup Inc. is a diversified financial services holding company. The Company provides a range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, trade and securities services and wealth management. Its segments include Institutional Clients Group (ICG), Personal Banking and Wealth Management (PBWM), Legacy Franchises and Corporate/Other. ICG segment consists of services, markets and banking that provides corporate, institutional, and public sector clients with a range of wholesale banking products and services. Its PBWM segment consists of United States (US) personal banking and global wealth management. The US personal banking includes retail banking, which provides traditional banking services to retail and small business customers. Its Legacy Franchises segment includes Asia consumer banking, Mexico consumer banking/Mexico small business and middle-market banking (SBMM) and legacy holdings assets.