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Daniel Pinto, President and chief operating officer of JPMorgan Chase & Co, speaks during the Global Financial Leaders' Investment Summit in Hong Kong, China November 2, 2022. REUTERS/Tyrone Siu Acquire Licensing RightsNEW YORK, Nov 28 (Reuters) - JPMorgan Chase (JPM.N) President and Chief Operating Officer Daniel Pinto said he expects its Chase UK consumer bank to break even in the next 12 to 18 months. The largest U.S. lender opened the digital bank in the UK in 2021, its first foray into international retail business. Chase UK is doing better than expected, Pinto said, and the company plans to grow in other global consumer markets over time. Brazilian digital bank C6, in which JPMorgan has 46% stake, is expected to break even "very soon," Pinto said.
Persons: Daniel Pinto, Tyrone Siu, JPMorgan Chase, Pinto, Jamie Dimon, Nupur Anand, Lananh Nguyen, Sharon Singleton Organizations: JPMorgan Chase &, Global Financial, Investment, REUTERS, Tyrone, JPMorgan, Chase, Financial, Thomson Locations: Hong Kong, China, United Kingdom, U.S, Basel, New York
CNN —Western Australia may soon be home to the world’s tallest wooden building, after authorities in Perth green-lit plans for a 191.2-meter-tall (627-foot) “hybrid” tower constructed using mass timber. The developers say 42% of the proposed tower will be constructed from timber, with the columns and core made of reinforced concrete. If completed, the high-rise will surpass the world’s tallest timber-concrete hybrid building, the Ascent tower in Milwaukee, Wisconsin, which stands at 25 stories or 86 meters (284 feet), according to the Council on Tall Buildings and Urban Habitat. Like Atlassian, the proposed C6 tower will combine laminated timber beams with a steel exoskeleton to support the the structure. Video Ad Feedback A short history of the world's tallest buildings 04:24 - Source: CNNBeyond using timber, Grange’s plan also includes green features such as a rooftop garden, an urban farm and resident access to 80 new fully-electric Tesla Model 3s.
Persons: ” Grange, James Dibble, ” Dibble, Philip Oldfield, ” Oldfield, , Oldfield, Organizations: CNN, Grange Development, Western, Tesla, University of New, University of New South Wales ’ School, Built Locations: Western Australia, Perth, Milwaukee , Wisconsin, South Perth, Sydney, Grange, , University of New South
FTX spent $15 million on flights and plane upgrades with a charter airline, a court filing said. Bankman-Fried made 21 trips to or from Washington, DC, on a Learjet 60, a person with direct knowledge told Insider. AdvertisementAdvertisementSam Bankman-Fried and FTX frequently chartered private jets from a Bahamian company called Trans Island Airways (TIA), three people familiar with the matter told Insider. They added that each trip cost between $20,000 and $30,000, which means the Learjet flights alone could cost more than $1 million. AdvertisementAdvertisementProsecutors allege that Bankman-Fried orchestrated a scheme that involved funneling $100 million of FTX funds through executives to politicians .
Persons: FTX, Fried, , Sam Bankman, Joe Bankman, Jerome Powell, Martin, Ryan Salame, Bankman, Michael Lewis, Lewis, Sam, Ryan, Sam's Organizations: Service, Trans Island Airways, TIA, Amazon, Bombardier Global, Embraer ERJ, Trans, Airways, Prosecutors, Capitol, Yorker, New York Times, Federal, Learjet, Bankman, TIA's, Cessna, Fort, Fort Lauderdale Executive Airport, Twitter Locations: Washington, DC, Florida, Bahamas, Caribbean, New York, Chicago, Fort Lauderdale
FTX loaned $28 million to a private jet company to finance its purchase of two jets, a court filing says. One of them has been in government custody since February, while the FTX Debtors claimed ownership of the planes in August. AdvertisementAdvertisementThursday's court filing says IAC received the loan after a "handshake deal" between Aranha and Bankman-Fried. It wasn't until August 7 that the FTX Debtors claimed ownership of the planes, the filing says. This is not the first time FTX Debtors have tried to get back assets.
Persons: FTX, SBF's, Sam Bankman, Fried's FTX, Paul Aranha, Fried, Aranha, Shaquille O'Neal, Stephen Curry, Naomi Osaka Organizations: Service, Bahamian, Court, Bombardier Global, Embraer, Island Air, IAC, Trans Island Airways, FTX Ventures, Trans, Airways, TIA, Bombardier, Global, US Marshals Service, Bradley International Locations: Wall, Silicon, Delaware, Connecticut
FTX loaned $28 million to a private jet company to finance its purchase of two jets, a court filing says. One of them has been in government custody since February, while the FTX Debtors claimed ownership of the planes in August. AdvertisementAdvertisementThursday's court filing says IAC received the loan after a "handshake deal" between Aranha and Bankman-Fried. It wasn't until August 7 that the FTX Debtors claimed ownership of the planes, the filing says. This is not the first time FTX Debtors have tried to get back assets.
Persons: FTX, SBF's, Sam Bankman, Fried's FTX, Paul Aranha, Fried, Aranha, Shaquille O'Neal, Stephen Curry, Naomi Osaka Organizations: Service, Bahamian, Court, Bombardier Global, Embraer, Island Air, IAC, Trans Island Airways, FTX Ventures, Trans, Airways, TIA, Bombardier, Global, US Marshals Service, Bradley International Locations: Wall, Silicon, Delaware, Connecticut
NEW YORK, Aug 29 (Reuters) - JPMorgan Chase & Co (JPM.N) has increased its stake in Brazilian digital bank C6 to 46% from 40%, the banks said in a statement on Tuesday, without disclosing the financial terms. The banks said C6 had expanded its number of clients to 25 million from 8 million since June 2021, when JPMorgan bought its initial stake, and had added products such as auto loans. Sanoke Viswanathan, JPMorgan's CEO of international consumer banking, said the investment in C6 Bank was an important part of the lender's global strategy. The credit portfolio of C6 had increased to 40 billion reais ($8.2 billion) from 9.5 billion when JPMorgan first invested, according to the statement. C6 posted a 2.2 billion real loss last year, due to increased provisions for credit losses.
Persons: Sanoke Viswanathan, Tatiana Bautzer, Chris Reese, Michelle Price, David Holmes Organizations: JPMorgan Chase &, JPMorgan, C6 Bank, C6, Thomson
Elon Musk said he can't confirm a date for his fight with Mark Zuckerberg just yet. Musk said he's getting an MRI of his neck and back, and may even require surgery before the fight. It looks like that cage match isn't going to happen anytime soon if Musk's got to go under the knife. Musk's neck and back issues could be linked to a sumo match he once participated in. Musk did not specify when this sumo match took place.
Persons: Elon Musk, Mark Zuckerberg, Musk, Musk's, Elon, Zuckerberg, Georges St, Pierre, Lex Fridman, John Danaher, he's, hasn't Organizations: Twitter, Canadian UFC
Ford and GM are among dozens of carmakers offering deep discounts on cars in China to boost sales. Tesla was among the first to slash its prices after China ended its electric vehicle subsidies. Tesla was one of the first carmakers to cut prices in the US and Europe as well as China. In January it cut US prices of the Model 3 sedan by 14% and Model Y by 20%. It then lowered prices this month on the Model S sedan by $5,000 and its Model X by $10,000.
Volkswagen joins China price war as new emissions rule looms
  + stars: | 2023-03-17 | by ( ) www.reuters.com   time to read: +2 min
Guangzhou Automobile Group, the Chinese partner of both Honda Motor Co Ltd and Toyota Motor Corp (7203.T), has also offered subsidies running from March 15 to March 31. Chinese passenger vehicle sales fell 20% in January-February, industry data showed, even as some manufacturers offered reduced prices to stimulate demand. Sales of new energy vehicles, which include all-battery and plug-in battery-petrol hybrid vehicles, grew faster than the overall market, accounting for over 30% in February. In the same month, Chinese electric vehicle maker BYD Co Ltd (002594.SZ) outsold Volkswagen-branded cars for the second month in four. ($1 = 6.8923 Chinese yuan renminbi)Reporting by Zhang Yan and Brenda Goh; Editing by Himani Sarkar and Christopher CushingOur Standards: The Thomson Reuters Trust Principles.
NutmegDeal details: JPMorgan announced the acquisition in June 2021, paying approximately $1 billion. cxLoyaltyDeal details: JPMorgan said it would buy cxLoyalty's global loyalty division in December 2020. ProxymityDeal details: JPMorgan, Citi, HSBC, and other firms together invested $20.5 million in Proxymity in May 2020. Viva WalletDeal details: JPMorgan said it would acquire 49% of Viva Wallet in January 2022, pending regulatory approval. Christian Petersen-Clausen/Getty ImagesRenovite TechnologiesDeal details: JPMorgan announced on September 12 it plans to acquire Renovite.
SAO PAULO, Nov 23 (Reuters) - JPMorgan Chase & Co (JPM.N) will keep growing in Latin America over the next few years as it expects the region's geopolitical outlook to improve, said Alfonso Eyzaguirre, the bank's chief executive for Latin America and Canada. He expects Latin America to profit from the changes. Latin America also stands to receive a large portion of private investment to tackle climate change, Eyzaguirre added. JPMorgan has been adding headcount and new services for corporate clients in Latin America. Brazil and Britain are the only countries apart from the United States where JPMorgan has retail banking activities.
TORONTO, Nov 3 (Reuters) - Canadian Finance Minister Chrystia Freeland on Thursday unveiled an economic update, slashing 2023 real GDP forecast to 0.7%, but said the economy would avoid a recession, while announcing C$11.3 billion ($8.2 billion) in new spending this fiscal year and next. The so-called Fall Economic Statement also proposes a refundable tax credits for clean technologies, a 2% tax on share buybacks, among others. STORIES: read more read moreLINK:https://budget.gc.ca/fes-eea/2022/report-rapport/FES-EEA-2022-en.pdfCOMMENTSRANDALL BARTLETT, SENIOR DIRECTOR OF CANADIAN ECONOMICS AT DESJARDINS"As expected - big windfall to revenues coming from higher inflation and a stronger economy, tighter labour market." We know that once you add in provinces we're up closer to C$23 billion (in affordability measures)." Reporting by Fergal Smith, Ismail Shakil Editing by Denny ThomasOur Standards: The Thomson Reuters Trust Principles.
SÃO PAULO, Oct 19 (Reuters) - Brazilian lender C6 Bank is set to open its first five brick-and-mortar branches in the country in the next few weeks, an executive has revealed, enhancing the competition between the JPMorgan-backed digital bank and large retail lenders for high income clients in Latin America's largest economy. Similar units in Brazilian large cap lenders include Banco Bradesco SA's Prime (BBDC4.SA) and Banco Santander Brasil SA's Van Gogh . With the physical branches initiative, C6 aims to increase its share in the high income market, which it expects to cover some 5 million people in the country. In 2021, the purchase of a 40% stake in C6 marked JPMorgan Chase & Co's (JPM.N) debut in Brazil's retail banking. C6 was founded by former partners at Banco BTG Pactual SA , Latin America's largest independent investment bank.
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Вопрос строительства торгового центра вместо ресторана «Дойна» обсуждался вчера на заседании Комиссии по строительству, архитектуре и земельным отношениям Муниципального совета Кишинева. Несколько членов Комиссии по строительству подчеркнули, что ресторан «Дойна» и его территория являются составной частью парка «Долина роз», и недопустимо, чтобы суд решал вместо местного публичного органа, что строить на этой земле. Тем более что согласно Генеральному плану городской застройки, код земли на улице Трандафирилор, 6 – «C6», что означает, что это зона отдыха с рекреационными функциями, такими как парки развлечений. В то же время прозвучало предложение включить парк «Долина роз» в список памятников местной ландшафтной архитектуры. Однако, учитывая тот факт, что MCК отклонил это предложение, АО Ресторан "Дойна" нашло другой способ получить желаемый результат, минуя компетентные местные публичные органы и обратившись в суд.
Persons: Василий Киртока, Виктор Киронде Organizations: Дойна, Комиссия по строительству, архитектуре и земельным отношениям, Муниципальный совет, АО Ресторан Дойна, Высочайшая судебная палата, Комиссия по строительству, ВСП, Апелляционная палата Locations: Кишинев, Трандафирилор
Вопрос строительства торгового центра вместо ресторана «Дойна» обсуждался вчера на заседании Комиссии по строительству, архитектуре и земельным отношениям Муниципального совета Кишинева, отмечает Noi.md. Несколько членов Комиссии по строительству подчеркнули, что ресторан «Дойна» и его территория являются составной частью парка «Долина роз», и недопустимо, чтобы суд решал вместо местного публичного органа, что строить на этой земле. Тем более что, согласно Генеральному плану городской застройки, код земли на улице Трандафирилор, 6 – «C6», что означает, что это зона отдыха с рекреационными функциями, такими как парки развлечений. В то же время прозвучало предложение включить парк «Долина роз» в список памятников местной ландшафтной архитектуры. Однако, учитывая тот факт, что MCК отклонил это предложение, АО «Ресторан "Дойна"» нашло другой способ получить желаемый результат, минуя компетентные местные публичные органы и обратившись в суд.
Persons: Василий Киртока, Виктор Киронде Organizations: Дойна, Комиссия по строительству, архитектуре и земельным отношениям, Муниципальный совет, АО «Ресторан Дойна, Высочайшая судебная палата, Комиссия по строительству, ВСП, Апелляционная палата Locations: Кишинев, Трандафирилор
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