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☆ Corporate earnings solid so far, despite threats from a slowing economy and sticky inflation
▼ + stars: | 2024-04-29 | by ( Bob Pisani | ) www.cnbc.com time to read: +6 min

Valuations coming down So if earnings are up, why is the S & P off its highs? Today, a month later, 2024 earnings estimates are essentially the same but the multiple has declined to 20.8. The S & P 500 hit a low of 4,117 on Oct. 27 and only recovered when rates came down in early November. There are some big drags on earnings Some companies are seeing large declines in earnings estimates that are weighing on their sectors. When including this one-time item, the S & P 500 earnings growth rate for the first quarter declines to 5.6%, from 8.7%, LSEG has noted.

Persons: Goldman Sachs, JPMorgan Chase, Morgan Stanley, Christopher Suh, Stephen Squeri, Hess, Nick Raich, LSEG, Hal Lawton, Brian Niccol, CNBC's Kate Rogers, Horton, Paul Romanowski, Kimberly, Clark, Michael Hsu Organizations: Companies, Netflix, JPMorgan, GE Aerospace, Caterpillar, Microsoft, Merck, Ford, Waste Management, Royal, Consumer, American Express, Energy, Marathon Petroleum, Apache, Valero Energy, Oil, Occidental Petroleum, Devon Energy, ConocoPhillips, Exxon Mobil, Scout, Bristol Myers Squibb, Karuna Therapeutics, Boeing, Nvidia, Meta, AMD Locations: financials, industrials, Royal Caribbean, North America

☆ Tractor Supply CEO Hal Lawton goes one-on-one with Jim Cramer
▼ + stars: | 2024-04-25 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTractor Supply CEO Hal Lawton goes one-on-one with Jim CramerTractor Supply President and CEO Hal Lawton joins 'Mad Money' host Jim Cramer to talk quarterly results, consumer trends, and more.

Persons: Hal Lawton, Jim Cramer Organizations: Tractor, Jim Cramer Tractor Supply

☆ Tractor Supply CEO says there's still 'significant migration' out of urban areas
▼ + stars: | 2024-04-25 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

Tractor Supply CEO Hal Lawton told CNBC's Jim Cramer on Thursday that a substantial number of Americans are moving out of cities, and many are headed to rural areas. "They've continued, albeit to a lesser absolute number, but net we're still seeing significant migration out of urban America, and most of that migration, or a lot of it, is going into rural America," Lawton said. Tractor Supply is a retail chain that sells equipment for home improvement, such as supplies for gardening and farming. Lawton told Cramer that the company has been dealing with business headwinds, with consumer spending trends swinging from goods to services. But he expressed optimism for the future, saying Tractor Supply can "begin to see light at the end of the tunnel now against those headwinds."

Persons: Hal Lawton, CNBC's Jim Cramer, Lawton, They've, Cramer Organizations: Tractor, Neighbor's Locations: America

☆ Rural America is alive and well, and growing, says Tractor Supply CEO Hal Lawton
▼ + stars: | 2024-04-25 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRural America is alive and well, and growing, says Tractor Supply CEO Hal LawtonTractor Supply President and CEO Hal Lawton joins 'Mad Money' host Jim Cramer to talk quarterly results, consumer trends, and more.

Persons: Hal Lawton, Jim Cramer Organizations: Email Rural, Tractor, Hal Lawton Tractor

☆ This winter was weirdly warm — and rough for retailers
▼ + stars: | 2024-03-13 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +4 min

The US just experienced the warmest "meteorological winter" on record, NOAA said last week. It also led to unpredictable consumer demand, causing headaches for retailers and other businesses. For Dick's, warmer weather means that sales skew toward lightweight fleeces rather than pricier down parkas, she said. A retailer in South Dakota surveyed by the Federal Reserve said that even though the warmer weather led to higher foot traffic, sales of winter gear and equipment fell. AdvertisementFrom major complications to minor inconveniences, it's looking like this winter could be a preview of what's to come thanks to the climate crisis.

Persons: Lauren Hobart, Hobart's, didn't, Hal Lawton, Lawton isn't, Raymond James, Lowe's, Marvin Ellison, Bill Boltz, Wisconsin's Organizations: NOAA, Service, National Oceanographic, Atmospheric Administration, Sporting, Tractor, Co, Raymond, Raymond James Institutional Investors, Federal Reserve, Climate Central Locations: NOAA's, East, Midwest, South Dakota

☆ GOP megadonor Hal Lambert on why he’s backing Trump
▼ + stars: | 2024-01-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGOP megadonor Hal Lambert on why he’s backing TrumpHal Lambert, Point Bridge Capital founder and CEO, joins 'Squawk Box' to discuss the state of the 2024 race, why he's backing former president Donald Trump, and more.

Persons: Hal Lambert, Trump Hal Lambert, Donald Trump Organizations: GOP, Capital Locations: Point

☆ Multipolar world opens up surprising safe havens
▼ + stars: | 2023-11-17 | by ( Felix Martin | ) www.reuters.com time to read: +7 min

This new-look cap table leaves the U.S. much more vulnerable to the vagaries of foreign investors than before. In a crisis, foreign investors would rush to buy even more U.S. debt. Reuters GraphicsA less orthodox option would be to invest in emerging markets instead. The last time net equity investment in the U.S. NIIP dipped close to negative territory was as the dot-com bubble was deflating in 2001. In the next six years the U.S. saw net equity outflows equivalent to nearly 30% of GDP.

Persons: Hubert Védrine, Xi Jinping, Joe Biden, ’, Donald Trump’s, exceptionalism, NIIP, Peter Thal Larsen, Streisand Neto, Thomas Shum Organizations: Reuters, French, U.S, United, United States, Treasury, Equity, U.S . Treasury, Japan, Democratic, Cooperation Council, Peterson Institute for International, Fed, ECB ”, Thomson Locations: United States, tatters, United, U.S, China, Hong Kong, Switzerland, Singapore, Saudi Arabia, South Africa, Argentina, Mexico, Brazil, Vietnam, India, Chile, Democratic Republic of, Congo, Washington

☆ COP28’s big challenge: green cash for poor states
▼ + stars: | 2023-11-15 | by ( George Hay | ) www.reuters.com time to read: +7 min

Rather than drawing attention to this paucity of ambition, al-Jaber wants states to commit to trebling global capacity of renewable energy by 2030. Progress in China and the West is largely a function of cash: these regions accounted for 84% of the $1.3 trillion committed to global climate finance in 2022. They calculate that by 2030, developing countries need to invest around $2.4 trillion a year in order to decarbonise their economies. The problem is that the developed world has consistently missed targets to channel climate cash to less developed counterparts. In September al-Jaber announced a $4.5 billion scheme to deploy UAE state cash and private sector resources to help Africa decarbonise.

Persons: al, Jaber, hasn’t, Nicholas Stern, Stern, Ajay Banga, Mark Carney, Shriti Vadera, Larry Fink, Joko Widodo, UAE Crown Prince Mohammed bin Zayed, Nahyan, Breakingviews, Peter Thal Larsen, Oliver Taslic, Thomas Shum Organizations: Reuters, United, Conference of, Abu Dhabi National Oil Company, United Nations, International Energy Agency, The, IEA, World Bank, concessional, Bank, Bank of England, Prudential, BlackRock, U.S, Indonesian, Africa decarbonise, UAE Crown, Thomson Locations: United Arab Emirates, Abu Dhabi, Paris, China, The U.S, British, Egypt, Indonesia, Japan, South Africa, Vietnam, U.S, Al, UAE, Africa, COP28, Dubai

☆ Europe’s shrinking stash heralds economic trouble
▼ + stars: | 2023-11-14 | by ( Francesco Guerrera | ) www.reuters.com time to read: +7 min

But the interest they earned on their assets increased from 16 billion euros to 66 billion euros in the same period. As a result, euro zone firms’ net interest was negative 19 billion euros in the second quarter of 2023. These financial gains may have helped euro zone growth. A further 700 billion euros matures in 2026. Homeowners with mortgages, which account for around 27% of euro zone households, are yet to feel the brunt of higher rates.

Persons: That’s, Mathieu Savary, Gross, Peter Thal Larsen, Oliver Taslic, Thomas Shum Organizations: Reuters, European Central Bank, Reuters Graphics Reuters, ECB, BCA Research, Oxford Economics, International Monetary Fund, Oxford, IMF, Thomson Locations: Oxford, Spain, Italy, France, Germany, United States, China

☆ Asteroid visited by NASA spacecraft has a ‘puzzling’ companion
▼ + stars: | 2023-11-08 | by ( Ashley Strickland | ) edition.cnn.com time to read: +4 min

CNN —Dinkinesh, a small asteroid that NASA’s Lucy mission visited last week, continues to surprise. At first, images suggested that the space rock was part of a binary pair, with a smaller asteroid orbiting Dinkinesh. The first image taken by the spacecraft during its closest approach revealed the companion, but not the fact that it was a contact binary. “Contact binaries seem to be fairly common in the solar system,” said John Spencer, Lucy deputy project scientist at the Southwest Research Institute, in a statement. The skeleton has helped researchers piece together aspects of human evolution, and NASA Lucy team members hope their mission will achieve a similar feat regarding the history of our solar system.

Persons: CNN —, Lucy, Goddard, Johns Hopkins, ”, John Spencer, we’ve, We’d, Hal Levison, “, Tom Statler, NASA Lucy Organizations: CNN, NASA, Southwest Research Institute, Dinkinesh, Trojans Locations: Ethiopia, Jupiter

CAPE CANAVERAL, Fla. (AP) — The little asteroid visited by NASA’s Lucy spacecraft this week had a big surprise for scientists. It turns out that the asteroid Dinkinesh has a dinky sidekick — a mini moon. The discovery was made during Wednesday’s flyby of Dinkinesh, 300 million miles (480 million kilometers) away in the main asteroid belt beyond Mars. In data and images beamed back to Earth, the spacecraft confirmed that Dinkinesh is barely a half-mile (790 meters) across. NASA sent Lucy past Dinkinesh as a rehearsal for the bigger, more mysterious asteroids out near Jupiter.

Persons: NASA’s Lucy, —, Dinkinesh, Lucy, It's, “ Dinkinesh, Hal Levison Organizations: NASA, Research, Associated Press Health, Science Department, Howard Hughes Medical Institute’s Science, Educational Media Group, AP Locations: CAPE CANAVERAL, Fla, Ethiopia

☆ NASA mission captures image of surprising asteroid pair
▼ + stars: | 2023-11-03 | by ( Ashley Strickland | ) edition.cnn.com time to read: +5 min

CNN —When NASA’s Lucy mission flew by its first asteroid this week, its cameras captured a surprise. The Lucy spacecraft zoomed by the small asteroid Dinkinesh, located in our solar system’s main asteroid belt between the orbits of Mars and Jupiter. (Lockheed Martin is a NASA partner on the Lucy mission.) Preparing for future flybysThe data collected during the Lucy mission flyby will continue to return to Earth over the next week. There are about 7,000 Trojan asteroids, and the largest is 160 miles (257 kilometers) across.

Persons: Lucy, Hal Levison, “, ” Levison, we’ve, ”, Tom Kennedy, Lockheed Martin, ” Kennedy, Keith Noll, NASA’s, Lucy’s, NASA Lucy Organizations: CNN, Southwest Research Institute, ”, Lockheed, NASA, NASA’s Goddard Space Flight Locations: Ethiopia, Greenbelt , Maryland, Jupiter

☆ NASA sent a spaceship rocketing by an asteroid — and discovered the space rock has a little baby one dancing around it
▼ + stars: | 2023-11-03 | by ( Sonam Sheth | ) www.businessinsider.com time to read: +2 min

NASA sent a spacecraft flying by the Dinkinesh asteroid. The agency discovered that Dinkinesh is actually a binary asteroid system. The Lucy spacecraft discovered that the larger asteroid has a baby asteroid dancing around it. But the Lucy spacecraft returned images showing that the asteroid Dinkinesh is actually a binary asteroid system, meaning there are two asteroids orbiting a common center. Lucy flew by the asteroid system at a speed of 10,000 miles per hour, NASA said.

Persons: —, Lucy, Dinkinesh, Hal Levison, we've, Tom Kennedy Organizations: NASA, Service, Southwest Research Institute, Lockheed Martin Locations: Colorado

Ryan and Duchovny did not really know each other before “What Happens Later," but you’d never know it to watch them on screen or hear their off-camera rapport. AP: You have such lived-in banter and chemistry, it’s surprising that you two didn’t really know each other before this. DUCHOVNY: I’m thankful to Meg for giving me the opportunity to work in a movie like this. RYAN: That’s exactly what it is. I’m going to google that to make sure I’m right.

Persons: Nora ”, Meg Ryan’s, Nora Ephron, Ephron, Ryan, Harry Met Sally, ”, David Duchovny, hasn't, “, ” Ryan, “ It’s, Duchovny, you’d, DUCHOVNY, I’ve, RYAN, Nora, It’s, Tom Hanks, Billy Crystal, He’s, Hal Liggett, Rosencrantz, Guildenstern, Hal, 5’10, 6’2, It’s Morgan Freeman, it’s Scarlett Johansson, I’m, Meg, Meg’s, there’s, COVID, you’ve, it’s, Matthew Perry’s, Harder, of Rome Organizations: Associated Press, greyhounds Locations: Seattle, RYAN

☆ Morgan Stanley’s new CEO inherits rich pickings
▼ + stars: | 2023-11-02 | by ( John Foley | ) www.reuters.com time to read: +7 min

A good place to start is outside Morgan Stanley’s home market. Morgan Stanley’s two last big acquisitions were chunky, at a combined $20 billion, but also filled niches. E*Trade, an online brokerage, brought millions of households and company employees that Morgan Stanley hadn’t previously served. Eaton Vance, a U.S. asset manager, peddles investment products that Morgan Stanley now funnels through sales teams in far-flung markets. CEO Jane Fraser shows no inclination to sell private banking, which for now sits within the group’s $756 billion global wealth management bucket.

Persons: Ted Pick’s, Morgan Stanley, Pick, James Gorman, Morgan, Gorman, Germany’s, Britain’s, Morgan Stanley’s, Morgan Stanley hadn’t, Eaton Vance, Smith Barney, watchdogs, Jane Fraser, It’s, Noel Quinn’s, Ping, Colm Kelleher, Ted Pick, Peter Thal Larsen, Thomas Shum Organizations: Reuters, Credit Suisse, McKinsey ., Morgan, Reuters Graphics Reuters, Infrastructure, Citi, U.S, HSBC, HK, UBS, Thomson Locations: U.S, American, Asia, Pacific, Japan, India, China, French, Europe, Switzerland, HK, Swiss

☆ Larry Fink’s next M&A may go in surprise direction
▼ + stars: | 2023-11-01 | by ( Lauren Silva Laughlin | ) www.reuters.com time to read: +8 min

Reuters GraphicsTIPPING THE SCALESThe shift to low-fee products helped BlackRock’s assets under management swell to more than $9 trillion at the end of September. BlackRock’s history with Blackstone means a reunion with Stephen Schwarzman’s $110 billion firm is a persistent Wall Street rumor. BlackRock’s funds operate under a single name, so uniting with Carlyle (CG.O) or Apollo Global Management (APO.N) would pose a branding challenge. Fink might covet MSCI (MSCI.N), the $38 billion firm which aggregates many of the benchmarks tracked by BlackRock’s ETFs. Given Fink’s long record of pulling off opportunistic and transformational deals, it would be foolish to bet against him springing one last surprise.

Persons: Larry Fink, Fink, Merrill, Rowe Price, Janus Henderson, Blackstone, Stephen Schwarzman’s, Carlyle, covet, MSCI, Michael Bloomberg, doesn’t, LSEG –, Peter Thal Larsen, Thomas Shum, Streisand Neto Organizations: CNBC, New York Stock Exchange, Reuters, BlackRock, Blackstone, Barclays Global Investors, Credit Suisse, UBS, nab, Graphics, Apollo Global Management, London Stock Exchange, Thomson Reuters, New, Bloomberg, Wall Street, New York Times, LSEG – Bloomberg, Thomson Locations: New York City, U.S, BlackRock, Boston, Swiss, New York, United States

CAPE CANAVERAL, Fla. (AP) — NASA’s Lucy spacecraft on Wednesday encountered the first of 10 asteroids on its long journey to Jupiter. The spacecraft will swing past eight Trojans believed to be up to 10 to 100 times bigger than Dinkinesh. The spacecraft is named after the 3.2 million-year-old skeletal remains of a human ancestor found in Ethiopia in the 1970s. Lucy will next swing past an asteroid named after one of the fossil Lucy's discoverers: Donald Johanson. Then in October, it launched a spacecraft to a rare, metal-rich asteroid named Psyche.

Persons: —, Lucy, Donald Johanson, Hal Levison Organizations: NASA, Research, Associated Press Health, Science Department, Howard Hughes Medical Institute’s Science, Educational Media Group, AP Locations: CAPE CANAVERAL, Fla, Dinkinesh, Ethiopia

☆ NASA’s Lucy mission will closely fly by the asteroid Dinkinesh
▼ + stars: | 2023-11-01 | by ( Ashley Strickland | ) edition.cnn.com time to read: +6 min

CNN —The NASA Lucy mission is about to have its first encounter with a space rock. The spacecraft, launched in October 2021, will fly by the small asteroid Dinkinesh on Wednesday. Dinkinesh is about half a mile (1 kilometer) wide and is situated in the main asteroid belt between the orbits of Mars and Jupiter. Each of the asteroids Lucy will fly by differ in size and color. These are some of the asteroids that the Lucy mission will fly by over the next 12 years.

Persons: NASA Lucy, Lucy, ”, Hal Levison, Dinkinesh, REx — Lucy, Mark Effertz, Amy Mainzer, — Organizations: CNN, NASA, Lincoln, Asteroid Research, US Air Force, Massachusetts Institute of Technology, Southwest Research Institute, Dinkinesh, JPL, Caltech, Lockheed Martin, University of Arizona, Trojans Locations: LINEAR, San Antonio, Jupiter, Littleton , Colorado, Ethiopia

☆ Big government will drive the next market cycle
▼ + stars: | 2023-10-31 | by ( Francesco Guerrera | ) www.reuters.com time to read: +8 min

Growth picked up while quiescent inflation permitted interest rates to fall. Bereft of government support, central banks tried to stimulate their economies by pushing interest rates to new lows. That means interest rates will struggle to return to the ultra-low levels seen after 2008. The first takeaway is that higher debt levels, inflation and interest rates should be bad for bonds. Vincent Deluard of StoneX has proposed a division between intangible and tangible companies.

Persons: Kevin Lamarque, ” Ronald Reagan’s, Milton Friedman –, Britain’s Margaret Thatcher –, Reaganomics ”, Réka Juhász, Nathan J, Lane, Dani Rodrik, government’s, Vincent Deluard, StoneX, Lockheed Martin, Peter Thal Larsen, Oliver Taslic, Thomas Shum Organizations: Republicans, Capitol, REUTERS, Reuters, Bank, Asset, Monetary Fund, Treasury, Capital Economics, Reuters Graphics Reuters Graphics, Capital, Facebook, Meta, Lockheed, Micron Technology, U.S, Congress, Nasdaq, Energy, Exxon Mobil, Labour Party, Thomson Locations: Washington , U.S, “, Ukraine, Covid, Europe, United States, United Kingdom, Germany, Japan

☆ HSBC’s profit resilience may face sterner tests
▼ + stars: | 2023-10-30 | by ( Anshuman Daga | ) www.reuters.com time to read: +4 min

SINGAPORE, Oct 30 (Reuters Breakingviews) - HSBC’s (HSBA.L), (0005.HK) resilient bottom line may face some stiffer challenges. HSBC also flagged that the same exercise would produce another $400 million loss in the final three months of the year. The bank’s net interest margin slipped to 1.7% in the latest quarter, from 1.72% in the previous three months. HSBC shares trade at around 0.9 times the bank’s tangible book value at the end of September. The bank’s London-listed shares were up 0.9% at 606 pence by 0900 GMT on Oct. 30.

Persons: It’s, Noel Quinn’s, Quinn, undemanding, it’s, Peter Thal Larsen, Oliver Taslic Organizations: Reuters, HK, Chartered, HSBC, Thomson Locations: SINGAPORE, China, London

☆ Wall Street’s glum rainmakers deserve more love
▼ + stars: | 2023-10-26 | by ( John Foley | ) www.reuters.com time to read: +7 min

Morgan Stanley’s (MS.N) investment banking revenue in the third quarter was its worst since 2009, at just over $1 billion. The rapid rise in interest rates, which makes traditional lending more lucrative for so-called universal banks, adds to the glum aura around investment banking. Reuters Graphics Reuters GraphicsInvestment banking isn’t the biggest part of any bulge-bracket firm’s revenue, but it’s disproportionately profitable. Goldman made nearly $8 billion more from investment banking in 2021 than in the last four quarters. Declining volatility in markets is great for deals, but it’s nowhere near as good for banks’ trading desks, which tend to thrive on choppy conditions.

Persons: Caitlin Ochs, Goldman Sachs, Morgan Stanley’s, Goldman, Morgan Stanley, James Gorman, Jane Fraser, David Solomon, they’re, Peter Thal Larsen, Oliver Taslic Organizations: New York Stock Exchange, REUTERS, Reuters, Exxon Mobil, Chevron, JPMorgan, Citigroup, Reuters Graphics Reuters Graphics Investment, Hamas, Goldman, Bank of America, Barclays, Citi, Thomson Locations: New York City, New York, U.S, catnip, Israel, China

☆ New-look Unilever retains its old-style opacity
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +2 min

Unilever logo is displayed on Dove soap boxes in this illustration taken on January 17, 2022. Back in 2017 Unilever fought off a Kraft Heinz (KHC.O) takeover approach by pledging a 20% operating margin; now there just isn’t a target. But it leaves a question mark over Unilever’s long-term direction. And it might leave long-term critics like fund manager Terry Smith still griping about opacity. In January Smith complained that Unilever had revealed the price tag on only three of 27 acquisitions in its Beauty and Wellbeing division over eight years.

Persons: Dado Ruvic, Hein Schumacher’s, Kraft Heinz, Alan Jope, Terry Smith, Smith, Schumacher, George Hay, Peter Thal Larsen, Oliver Taslic Organizations: Unilever, REUTERS, Reuters, Kraft, X, Thomson

☆ Time is ripe for another push on carbon pricing
▼ + stars: | 2023-10-24 | by ( Hugo Dixon | ) www.reuters.com time to read: +8 min

Other technologies, such as green hydrogen and carbon capture, are still a long way from maturity. Around 50 countries have some form of carbon price, double the number 10 years ago, and another 23 countries are planning to introduce one. The snag is that China’s carbon price is low and the United States doesn’t have a federal levy. Others argue that governments should combine carbon pricing with financial support for the most vulnerable and targeted subsidies for fledgling technologies. To hit climate targets, the carbon price would need to be $135 a tonne in advanced economies and $45 a tonne in large emerging ones by 2030.

Persons: Jin Mao, Aly, Joe Biden’s, There’s, Rishi Sunak, Michael Jacobs, it’s, Peter Thal Larsen, Oliver Taslic, Thomas Shum Organizations: Financial, REUTERS, Reuters, International Energy Agency, European Union, Global, International Monetary Fund, Reuters Graphics Reuters, British, Pew Research, University of Sheffield, IMF, Africa Climate, United, European, Climate Leadership Council, Thomson Locations: Shanghai, Pudong, China, United States, Paris, Africa, European Union, U.S

☆ Banks’ wealth-management heyday may have passed
▼ + stars: | 2023-10-18 | by ( Liam Proud | ) www.reuters.com time to read: +8 min

For wealth managers, that will make revenue growth much harder to come by, shifting the focus to controlling expenses. LOSING ITS SPARKLEIn Wall Street parlance, wealth management is a capital-light business. Little wonder Morgan Stanley boss James Gorman focused on wealth management after taking charge in 2010. The good news for UBS and Morgan Stanley is that they are better placed than most to handle these pressures. The bank’s wealth-management business generated a 35% ROTE, while the division that houses investment banking and trading managed just 8%.

Persons: UBS –, Morgan Stanley’s, Morgan Stanley, James Gorman, Sergio Ermotti, Goldman Sachs, Italy’s, Iqbal Khan, Morgan Stanley’s Andy Saperstein, Peter Thal Larsen, Sharon Lam, Oliver Taslic Organizations: Reuters, Wealth, UBS, Credit Suisse, HSBC, HK, Lloyds Banking Group, Revenue, Treasury, Big, Thomson Locations: Swiss, United States, Americas, Switzerland, Britain’s St, James’s

☆ Jeffrey Epstein leaves small mark on Wall Street
▼ + stars: | 2023-09-27 | by ( Jeffrey Goldfarb | ) www.reuters.com time to read: +4 min

U.S. financier Jeffrey Epstein appears in a photograph taken for the New York State Division of Criminal Justice Services' sex offender registry March 28, 2017 and obtained by Reuters July 10, 2019. Acquire Licensing RightsNEW YORK, Sept 27 (Reuters Breakingviews) - Wall Street is getting ready to move on from the Jeffrey Epstein saga. It ultimately has cost JPMorgan some $365 million in settlements, including Tuesday’s proposed resolution, while Deutsche is paying out $75 million. Some financiers linked to Epstein, who killed himself while in jail awaiting trial in 2019, also paid a price. He also reached a $63 million deal with the U.S. Virgin Islands to avoid any legal claims linked to the investigations.

Persons: Jeffrey Epstein, Epstein’s, Tuesday’s, Epstein, Billionaire Leon Black, Jes Staley, JPMorgan’s, Wall, Peter Thal Larsen, Sharon Lam Organizations: New York State Division, Criminal, Services, Reuters, REUTERS, Acquire, JPMorgan, United States Virgin, Deutsche Bank, Deutsche, Billionaire, Apollo Global Management, U.S . Virgin, Barclays, Thomson Locations: United, United States Virgin Islands

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