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Exclusive: German battery group BMZ plans September IPO, sources say
  + stars: | 2021-06-14 | by ( Arno Schuetze | ) www.reuters.com sentiment -0.89   time to read: +2 min
FRANKFURT (Reuters) - German battery group BMZ is preparing for a Frankfurt stock market listing as early as September with a targeted valuation of about 2 billion euros ($2.4 billion), sources close to the matter told Reuters. BMZ is working with Citi, JP Morgan and Berenberg on the initial public offering (IPO), which will sell shares worth about 500 million euros, the sources said. In 2020 the company posted revenues of about 400 million euros and expects significant growth this year, catching up on some projects that were delayed by the COVID-19 pandemic. BMZ, based in Karlstein near Frankfurt, takes 300 million battery cells each year to assemble battery systems for industrial clients such as forklift maker Kion, medical device maker Philips and gardening tools maker Stihl. Europe’s largest battery system maker was founded by entrepreneur Sven Bauer in 1994 and now employs about 3,000 staff at seven sites in Europe, the United States and Asia.
Persons: JP Morgan, Berenberg, Akasol, Sven Bauer Organizations: Reuters, Citi, Philips Locations: FRANKFURT, Frankfurt, Karlstein, Europe, United States, Asia
Software startup Sprinklr targets $5 billion valuation in U.S. IPO
  + stars: | 2021-06-14 | by ( Reuters Staff | ) www.reuters.com sentiment -1.00   time to read: +1 min
(Reuters) - Software startup Sprinklr said on Monday it was looking to raise as much as $380 million through a U.S. initial public offering (IPO), targeting a valuation of about $5 billion. The company, whose customers include Microsoft Corp and McDonald’s Corp, said in a regulatory filing it planned to sell 19 million shares priced between $18 and $20 per share. The company’s revenue rose 19% to $111 million in the three months ended April 30, 2021. Its net loss, however, widened to $14.7 million from $11.2 million in the period. Morgan Stanley, J.P. Morgan, Citigroup, Barclays and Wells Fargo Securities are the lead underwriters for the offering.
Persons: Ragy, Morgan Stanley, J.P Organizations: Reuters, U.S, Microsoft Corp, McDonald’s, New York Stock Exchange, Citigroup, Barclays, Wells, Wells Fargo Securities, underwriters Locations: New Jersey, Morgan, Wells Fargo
EMERGING MARKETS-Turkish lira outperforms, EM forex index slips
  + stars: | 2021-06-14 | by ( Susan Mathew | ) www.reuters.com + 0.00   time to read: +3 min
MSCI’s index of EM currencies fell 0.2% ahead of a U.S. Federal Reserve meeting later in the week. Investors are watching out for any mention of monetary policy tightening that could hit market appetite for risk assets. Erdogan said over the weekend that Turkey had raised its forex swap line with China to $6 billion from $2.4 billion. Ahead of a meeting with Russian President Vladimir Putin on June 16, Biden said that Russia might be weaker than it seemed under “autocrat” Putin. For GRAPHIC on emerging market FX performance in 2021, see tmsnrt.rs/2egbfVh For GRAPHIC on MSCI emerging index performance in 2021, see tmsnrt.rs/2OusNdXFor TOP NEWS across emerging marketsFor CENTRAL EUROPE market report, seeFor TURKISH market report, seeFor RUSSIAN market report, see (Reporting by Susan Mathew in Bengaluru; Editing by Jacqueline Wong)
Persons: Tayyip Erdogan, Erdogan, Joe Biden, NATO’s, Russia’s rouble, Vladimir Putin, Biden, autocrat ” Putin, ” Morgan Stanley, Susan Mathew, Jacqueline Wong Organizations: U.S ., U.S, Federal Reserve, Credit Suisse, Western, CENTRAL Locations: Turkey, China, Brussels, Russian, U.S, Russia, Belarus, South Africa, Bengaluru
Companies Push Employees to Prove They Are Vaccinated
  + stars: | 2021-06-14 | by ( Chip Cutter | Orla Mccaffrey | ) www.wsj.com sentiment -0.97   time to read: +1 min
Companies are stepping up the pressure on workers to get vaccinated—not necessarily with mandates but with strong nudges. While most employers haven’t flat-out ordered staff to get vaccinated, many are asking workers to report their vaccination status or are implementing policies that restrict the activities of unvaccinated workers. Some companies say they want reassurance that the majority of their workers are vaccinated before broadly reopening offices. The Wall Street firm, which hasn’t mandated vaccines, has told staff that fully vaccinated employees who have registered their status can work without masks in its offices. Other banks, including Morgan Stanley and Wells Fargo & Co., have asked employees to voluntarily register their vaccination status.
Persons: Morgan Stanley, Wells Organizations: Companies, Goldman Sachs, Inc, Wells Fargo & Co
Dollar on front foot as traders look to Fed for direction
  + stars: | 2021-06-14 | by ( Kevin Buckland | ) www.reuters.com + 0.00   time to read: +3 min
FILE PHOTO: A U.S. one dollar banknote is seen in front of displayed stock graph in this illustration taken May 7, 2021. The yen fell 0.1% to 109.750 per dollar, after weakening to 109.840 on Friday for the first time since June 4. “Over the past month there appears to have been a growing chorus that the time to talk about tapering bond purchases had been reached,” Wong added. The digital token has fluctuated on either side of $35,000 over the past month, dipping to near $31,000 at one point last week. Rival ether remained stuck around $2,500, the middle of a narrowing trading range spanning the past month.
Persons: Dado Ruvic, Jason Wong, ” Wong, ” Morgan Stanley, bitcoin, Elon Musk Organizations: U.S, REUTERS, NAB, Federal, Market, Fed, Deutsche Bank, Tesla Inc, RIC Locations: TOKYO, Asia, Tokyo
PRECIOUS-Gold prices at 1-1/2-week low on dollar strength as Fed meeting looms
  + stars: | 2021-06-14 | by ( Brijesh Patel | ) www.reuters.com sentiment -1.00   time to read: +2 min
Spot gold was down 0.6% at $1,864.58 per ounce, as of 0311 GMT, its lowest since June 4. However, Fed officials have repeatedly said that inflation would be transitory and expect monetary stimulus would stay in place for some time. Focus now shifts to the Fed’s June 15-16 meeting for further clarity on the policymakers’ view on rising inflation and monetary policy going forward. Morgan Stanley in its research note on Friday said it expects the Fed at its upcoming policy meeting to lay the groundwork for increased flexibility on its quantitative easing program by “talking about talking about tapering”. Elsewhere, silver slipped 0.3% to $27.80 per ounce, palladium eased 0.2% to $2,771.31, while platinum dipped 0.6% to $1,143.71.
Persons: , Stephen Innes, Morgan Stanley, Brijesh Patel, Sherry Jacob, Phillips Organizations: Federal Reserve Locations: Bengaluru
Spot gold was down 0.6% at $1,864.61 per ounce, as of 0536 GMT, its lowest since June 4. Focus now shifts to the Fed’s June 15-16 meeting for further clarity on policymakers’ view on rising inflation and monetary policy going forward. Spot gold may break a support at $1,860 per ounce, and fall towards $1,842, according to Reuters technical analyst Wang Tao. Speculators reduced their net long positions in COMEX gold in the week ended June 8 and raised their net long positions in silver. Silver was flat at $27.89 per ounce, palladium eased 0.1% to $2,773.52, while platinum dipped 0.5% to $1,143.89.
Persons: , Stephen Innes, Morgan Stanley, Wang Tao, Brijesh Patel, Sherry Jacob, Phillips, Rashmi Organizations: U.S . Federal Reserve Locations: U.S, Bengaluru
World stocks near record high as investors await dovish Fed act
  + stars: | 2021-06-14 | by ( Hideyuki Sano | ) www.reuters.com + 0.00   time to read: +4 min
REUTERS/Kim Kyung-HoonGlobal shares held firm near record highs on Monday while U.S. bond yields flirted with three-month lows as investors expect the Federal Reserve to stick to its dovish mantra later this week. The MSCI all-country world equity index (.MIWD00000PUS), the U.S. S&P 500 (.SPX) and the pan-regional STOXX Europe 600 index (.STOXX) all closed at record highs on Friday. Many investors expect the Fed to repeat its dovish view at its two-day meeting from Tuesday. "There will probably be no surprise from the Fed this week," said Mitsubishi UFJ's Fujito. U.S. West Texas Intermediate (WTI) crude futures added 0.2% to $71.05 per barrel, near their highest since October 2018.
Persons: Kim Kyung, Norihiro Fujito, Mitsubishi UFJ, Mitsubishi UFJ Morgan Stanley, Treasuries, Akira Takei, Boris Johnson's, Johnson Organizations: Nikkei, REUTERS, Hoon Global, Federal Reserve, Japan's Nikkei, U.S . Federal Reserve, Mitsubishi, Mitsubishi UFJ Morgan, Mitsubishi UFJ Morgan Stanley Securities, Asset Management, European Central Bank, British, Brent, . West Texas, Thomson Locations: Tokyo, Japan, Asia, Pacific, China, Hong Kong, Australia, U.S, Europe, India
Stocks wait at record peaks for Fed; oil marches higher
  + stars: | 2021-06-14 | by ( Hideyuki Sano | ) www.reuters.com + 0.00   time to read: +4 min
Japan's Nikkei (.N225) rose 0.7% while MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was down 0.2%. The MSCI world equity index (.MIWD00000PUS), the U.S. S&P 500 (.SPX) and the pan-regional STOXX Europe 600 index (.STOXX) all closed at record highs on Friday. "Yes, PPIs are racing higher, but will that be reflected in higher consumer goods prices from China? Certainly, that's what the U.S. bond market is saying to us." Speculators are also building up long positions in U.S. debt, with their net long positions in U.S. bond futures hitting the highest level since October 2017 , U.S. financial watchdog data showed.
Persons: Athit, Jeffrey Halley, Treasuries, Akira Takei, Norihiro Fujito, Mitsubishi UFJ, Mitsubishi UFJ Morgan Stanley, Boris Johnson's, Johnson, Bitcoin Organizations: REUTERS, Federal Reserve, Japan's Nikkei, U.S . Federal Reserve, Oil, Asset Management, Mitsubishi, Mitsubishi UFJ Morgan, Mitsubishi UFJ Morgan Stanley Securities, European Central Bank, British, Brent, Elon Musk, Thomson Locations: Tokyo, Japan, Asia, Pacific, China, Hong Kong, Australia, U.S, Europe
Sen. John Boozman cashed out of Johnson & Johnson, among other stocks. Rep. Scott Franklin, a Republican of Florida, just made some of the biggest stock moves of 2021 — at least among members of Congress. Johnson & Johnson has also experienced vaccine production issues. Meanwhile, Sen. Shelley Moore Capito's husband, Charlie Capito, sold up to $15,000 worth of shares in Wells Fargo on May 10. Energy stocks are hotRep. Mark Green, a Republican from Tennessee, made two stock purchases in motor fuel distributor CrossAmerica Partners.
Persons: Sen, Elizabeth Warren . Rep, Scott Franklin, John Boozman, Johnson, we've, Pramila, Elizabeth Warren, Chris Evans, , Republican Sen, Richard Burr of, Tom Malinowski, John Sarbanes of, Ilhan Omar, Minnesota, Janice Schakowsky of, Chuy Garcia, Mark Pocan, Bill Clark, Roth, Danny Johnston John Boozman, Walt Disney, Morgan Chase, Boozman, Elaine Chao, Mitch McConnell, Carlos Barria Mitch McConnell, Trump, Mitch McConnell of, Chao, Wells Fargo, Shelley Moore, Charlie Capito, Mark Green, Green, James Langevin, rollin, rollin ', Earl Blumenauer isn't, Ann Wagner, Wagner, Arthur Byrant Organizations: Massachusetts Democrat, Stock, Republican, Democratic Rep, New, Democratic, Chuy Garcia of Illinois, Getty, Florida Republican, Roth IRA, Viatris Inc, AT, T Inc, AP, Apple, Bank of America, Comcast, Walt, Intel, HP, Dynamics, Honeywell, Union Pacific, Johnson, and Drug Administration, Former, Reuters, Carlos Barria Mitch McConnell fam, Wells Fargo & Company, Energy, CrossAmerica Partners, Shell Midstream Partners, Generac Holdings, Congressional, Caucus, AutoZone Inc, Trempealeau County Justice Center Locations: Washington, Massachusetts, Richard Burr of North Carolina, New Jersey, John Sarbanes of Maryland, Janice Schakowsky of Illinois, Wisconsin, Florida, Arkansas, Wells, Mitch McConnell of Kentucky, Wells Fargo, Tennessee, Rhode Island, Generac, Oregon, Middle America, The Missouri, Trempealeau, La Crosse , Wisconsin
Southeast Asia banks 'well-positioned' on rising interest rates
  + stars: | 2021-06-14 | by ( ) www.cnbc.com + 0.89   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSoutheast Asia banks currently 'well-positioned' as interest rates set to pick up: JP MorganHarsh Modi of JPMorgan says Singapore and Thailand banks are at the "top of the pecking order" to reap the benefits in a rising interest rate environment.
Persons: JP Morgan Harsh Modi Organizations: JPMorgan Locations: Asia, Singapore, Thailand
EU hires banks for first recovery fund bond - lead managers
  + stars: | 2021-06-14 | by ( Yoruk Bahceli | ) www.reuters.com + 0.88   time to read: +1 min
REUTERS/Regis Duvignau/File PhotoThe European Union on Monday hired banks for a 10-year bond sale, the first to finance its recovery fund, according to two lead managers, a crucial step in financing the bloc's economic recovery from the coronavirus pandemic. The sale will be launched on Tuesday, subject to market conditions, memos from the lead managers seen by Reuters said. The bond will raise 10 billion euros, France's junior minister for European affairs said on May 31. The EU has said it expects to issue 80 billion euros of debt this year. The bloc hired BNP Paribas, DZ Bank, HSBC, IMI-Intesa Sanpaolo and Morgan Stanley as joint lead managers for the debut deal, while Danske Bank and Santander will act as co-lead managers, according to the memo.
Persons: Regis, Intesa Sanpaolo, Morgan Stanley Organizations: BNP, REUTERS, Union, Monday, Reuters, EU, DZ Bank, HSBC, IMI, Intesa, Danske Bank, Santander, Thomson Locations: Paris, France, EU
Some Microsoft employees slept in the company's data centers during the pandemic, an exec said. Another Microsoft exec previously told CNBC the company provided staff transport to data centers. Employees at Microsoft data centers sometimes slept on site during the pandemic, according to an executive at the tech giant. For some Microsoft employees in technical roles, remote working proved impossible. These included some staff at sites housing servers for Microsoft's online services, including Microsoft Teams, CNBC reported.
Persons: Kristen Roby Dimlow, Morgan Stanley, they'd, Read, Noelle Walsh, Satya Nadella Organizations: Microsoft, CNBC, Microsoft Teams, Microsoft's Cloud Operations, Innovation Locations: New York City
Check out the companies making headlines before the bell:Novavax (NVAX) – The drugmaker said its Covid-19 vaccine proved 90% effective overall in a late-stage trial, and 93% effective against the most predominant variants of the virus. Phillips (PHG) – Phillips shares slid 4.3% in premarket action after saying it would recall up to 4 million CPAP machines due to potential toxicity risks. Chipotle shares gained 1.4% in the premarket. Shares gained 2% in premarket trading. NextGen shares gained 1.9% in the premarket.
Persons: Steve Burns, Julio Rodriguez, Lordstown, Burns, Rodriguez, Phillips, – Phillips, – Raymond James, Ferrari, – Goldman Sachs, Marco Cavaleri, Oatly, Oppenheimer, Morgan Stanley, Piper Sandler, Jefferies, JPMorgan Chase, Cristiano Amon, Equinix, – Equinix, Sir Richard Branson's Virgin, Sky, NextGen Organizations: Lordstown Motors, Grill, GlaxoSmithKline, GSK, iTeos Therapeutics, AstraZeneca, European Medicines, Royal, Shell, Reuters, Credit Suisse, Guggenheim, JPMorgan, RBC, Qualcomm, Nvidia, Sir Richard Branson's Virgin Orbit, Sky News, Virgin Locations: Texas
Airline stocks have soared. They're not in the clear yet
  + stars: | 2021-06-14 | by ( Julia Horowitz | Cnn Business | ) edition.cnn.com + 0.00   time to read: +6 min
A version of this story first appeared in CNN Business' Before the Bell newsletter. You can sign up right hereLondon (CNN Business) Air travel in the United States is back. That's great news for airline stocks, which have rallied this year on hopes that domestic trips would make a return. The problem: Demand for business travel and long-haul flights, a crucial source of income, is still extremely depressed. What a difference a year makes, my CNN Business colleague Chris Isidore writes.
Persons: Darby LaJoye, months.has, American Airlines AAL, Ed Bastian, Bastian, Boris Johnson, Johnson, Joe Biden, Tesla, Elon Musk, bitcoin, Bitcoin, Musk, There's, General Motors GM Mary Barra, Chris Isidore, Morgan Stanley Organizations: CNN Business, Bell, Air, Transportation Security Administration, TSA, American Airlines, Brent, Easyjet, British Airways, IAG, Budget, Bank of America, GM, General Motors GM, Volkswagen Locations: London, United States, COVID, Europe, India, England, United Kingdom, China, Czech Republic, Qatar, Italy, Saudi Arabia, Barra
Regulators Tell Banks It Is Time to Stop Using Libor
  + stars: | 2021-06-13 | by ( Julia-Ambra Verlaine | ) www.wsj.com sentiment -1.00   time to read: +1 min
Regulators are ramping up efforts to end Libor trades by year-end. The Commodity Futures Trading Commission last week told brokers that facilitate derivatives trading among large banks that they should stop using Libor, or the London interbank offered rate, as a reference rate by July 26. SOFR is the alternative preferred by regulators and many major banks. As of July 26, big banks like JPMorgan Chase & Co. will see certain derivatives priced in SOFR rather than Libor on dealer screens. “We face a reality of no new Libor contracts by the end of this year.
Persons: , SOFR, , Tom Wipf, Morgan Stanley Organizations: Futures, Commission, London, Authorities, JPMorgan Chase &
Jeff Bezos, his brother Mark, and two unnamed people — at least one of whom is a multimillionaire — are about to place their lives in the hands of Blue Origin's rocket engineers. (The money will go to Blue Origin's foundation, Club for the Future.) For the rest of us — who don't have access to Blue Origin's rocket design or risk calculations — it's difficult to say just how much risk Bezos is taking. The New Shepard crew capsule parachutes to a landing at Blue Origin's Launch Site One in Texas, January 14, 2021. A sneak peek at the final design of Blue Origin's New Shepard capsule for suborbital space tourists.
Persons: Jeff Bezos, Shepard, Mark, Bezos, John Logsdon, George Washington, New Shepard, George Nield, Nield, Isaiah J, Downing, There's, Logsdon, , It's, Gary Lai, Origin's, That's, we've Organizations: Shepherd, Policy Institute, NASA, Federal Aviation, Space Transportation, Shepard, Reuters, Space Shuttle Program, Challenger, Space Shuttle, CNN Locations: Colorado Springs , Colorado, West Texas, Texas,
Microsoft employees slept in data centers during pandemic lockdown, exec says
  + stars: | 2021-06-13 | by ( Jordan Novet | ) www.cnbc.com sentiment -0.97   time to read: +2 min
Microsoft employees slept in the software company's data centers during the height of the coronavirus pandemic, an executive said on Wednesday. A Microsoft spokesperson would not say where employees slept in data centers or how many did it. Employees were allowed to work from home if they felt anxious about coming to data centers, Walsh said. If people didn't want to take the bus, the company provided transportation to and from data centers and even allowed people to stay in hotels, she said. WATCH: Why data centers were the top real estate sector of 2020
Persons: Covid, Kristen Roby Dimlow, Morgan Stanley, Josh Baer, Mark Carlucci, they'd, Noelle Walsh, Walsh Organizations: Microsoft, company's, Operations, Innovation, CNBC, Employees Locations: U.S
Ray McGuire is a former Wall Street executive who is running for New York City mayor. McGuire wants to enact a job accelerator program that would bring back 50,000 positions at small businesses. New York City may be a preeminent global financial capital, but the city runs on its small businesses. "I want to have the greatest, most inclusive comeback in the history of New York City," he said. There'd be a shot clock, which would put some discipline into when the city responds to applications from small businesses.
Persons: Ray McGuire, McGuire, Merrill Lynch, He'd, Morgan Stanley, Bill de Blasio, You've, David Dee Delgado, We'll, Red, they're, I've, de Blasio, de, hasn't Organizations: Wall Street, New York City, City, New, Partnership, Democratic, Harvard University, Citigroup, Mayoral, Network's, Asian, doer Locations: New York, New York City, Dayton , Ohio, . New York, York City, Queens, Coney, Brooklyn, Lower Manhattan
Blue Origin auctions a rocket trip to space with Bezos
  + stars: | 2021-06-12 | by ( Eric M. Johnson | ) www.reuters.com + 0.00   time to read: +3 min
FILE PHOTO: Amazon and Blue Origin founder Jeff Bezos addresses the media about the New Shepard rocket booster and Crew Capsule mockup at the 33rd Space Symposium in Colorado Springs, Colorado, United States April 5, 2017. While the funds raised from the event are earmarked for charity, Blue Origin is hoping to galvanize enthusiasm for its nascent suborbital tourism business. Blue Origin and Virgin Galactic, as well as Musk’s SpaceX, have also discussed using their rockets to link far-flung global cities. UBS says that long-haul travel market could be worth more than $20 billion, though several barriers such as air-safety certification could derail the plans. Blue Origin has not divulged its pricing strategy for future trips.
Persons: Jeff Bezos, Isaiah J, Downing, Origin’s, aeronauts Richard Branson, Elon Musk, ” Morgan Stanley, Adam Jonas Organizations: SEATTLE, Shepard, REUTERS, Inc, Elon, Virgin Galactic Holdings Inc, VSS Unity spaceplane, UBS, Virgin Galactic, SpaceX, Reuters Locations: Colorado Springs , Colorado, United States, West Texas, Branson
Bid of $28 million wins a rocket trip to space with Bezos
  + stars: | 2021-06-12 | by ( Eric M. Johnson | ) www.reuters.com + 0.00   time to read: +3 min
REUTERS/Isaiah J. Downing/File Photo/File PhotoWithin four minutes of the open of Saturday’s live phone auction, bids reached beyond $20 million. While the funds raised from the event are earmarked for charity, Blue Origin is hoping to galvanize enthusiasm for its nascent suborbital tourism business. Blue Origin and Virgin Galactic, as well as Musk’s SpaceX, have also discussed using their rockets to link far-flung global cities. UBS says that long-haul travel market could be worth more than $20 billion, though several barriers such as air-safety certification could derail the plans. Blue Origin has not divulged its pricing strategy for future trips.
Persons: Jeff Bezos, Isaiah J, Downing, Origin’s, Bezos, aeronauts Richard Branson, Elon Musk, ” Bezos, Mark, , ” Morgan Stanley, Adam Jonas Organizations: SEATTLE, Shepard, REUTERS, Origin’s, Inc, Elon, Virgin Galactic Holdings Inc, VSS Unity spaceplane, UBS, Virgin Galactic, SpaceX, Reuters Locations: Colorado Springs , Colorado, United States, West Texas, Branson
Credit Suisse has hired HSBC's Truls Engebretsen as a senior credit trader. Engebretsen, previously US head of investment grade credit, rejoins Credit Suisse after nearly 10 years away, according to FINRA records seen by Insider. Engebretsen, previously US head of investment grade credit, rejoins Credit Suisse after nearly 10 years away, according to FINRA records seen by Insider. Christopher Dawe , previously co-head of private investments at Goldman Sachs, will lead Private Capital's technology and consumer growth equity business. Meg McClellan will lead private debt.
Persons: Alice Milligan, Morgan Stanley, Andy Saperstein, Milligan, Audrey Choi, Choi, Chad Turner, Mike Curcio, HSBC's Truls, Christopher Bathon, Mike Malloy, Marshall Peters, HSBC's, Cowen, Jenny Killeen, Michael S, Raymond James, Ryan Kaeding, Kaeding, Piper Sandler, Katherine Fogertey, Fogertey, Goldman Sachs, Deborah Bussière, Christopher Dawe, Osei Van Horne, Van Horne, Brian Carlin, Rick Smith, Meg McClellan, Anton Pil, Ben Darsney, Justin Smolkin, Jeff Bunzel, Darsney, Smolkin, Michael Lattarulo, Meredith Mazzilli, Rebecca Ungarino, Carter Johnson, Reed Alexander, Alex Morrell Organizations: intel, Trade, Credit Suisse, HSBC, MSD, Broadridge Financial, JPMorgan, Wells Fargo, JPMorgan Private Capital, Goldman, Wells, Private, Deutsche Bank Locations: Americas
Get to know 12 top fintech bankers
  + stars: | 2021-06-12 | by ( Meredith Mazzilli | ) www.businessinsider.com + 0.00   time to read: +3 min
Bank of America; Morgan Stanley; Goldman Sachs; Moelis & Company; Samantha Lee/InsiderThe fintech space has exploded in recent years, keeping Wall Street bankers busy. Some banks see fintech as an outgrowth of TMT and FIG teams, while others see it as a stand-alone. Check out what 12 fintech bankers have to say about the space. Getty ImagesMichael Recce, a former Neuberger Berman and Point72 data head, has started his own data business: Alpha ROC, a technology and consulting firm meant to simplify data for both the vendor and the user. Don Arnold/Getty Images for Klarna"Buy now, pay later" services have evolved into consumer-facing companies keen to establish their own brands.
Persons: Samantha Lee, Son, Rupert Murdoch, Jeff Stine, Ari Emanuel, Alessandro Di Ciommo, Taylor, Ben Gabbe, Amy Sussman, Raymond Boyd, Jeff Sine, Here's, Dick Loek, Chase Coleman, Matthew Sharnoff, Jigar Patel, Morgan Stanley, Kelly Galanis, Goldman Sachs, Tommaso Zanobini, Michael Recce, Neuberger Berman, Recce, Rich, Atlantic's Robbert Vorhoff, Don Arnold Organizations: Finance, Deutsche Bank, AllianceBernstein, Accenture, Wall, PayPal, Getty, Toronto Star, Bank of America, Moelis & Company, Moelis, Company, Street, FIG, Alpha ROC, Mercy San Juan Hospital, AP, Vida Health, Here's Locations: Silicon Valley, Carmichael , California, Tech
GM shareholders have never had it this good
  + stars: | 2021-06-12 | by ( Chris Isidore | Cnn Business | ) edition.cnn.com + 0.00   time to read: +6 min
New York (CNN Business) Mary Barra -- and GM shareholders -- is about to have the best shareholder meeting of her seven-plus year tenure on Monday. But the profitability success is thus far more substantial than the still nascent EV operations at GM. Investors are more excited by future EV plans than current profits. So that is why Wall Street is more excited than ever about GM shares. In 2015, when GM posted record net income of nearly $10 billion, its shares actually declined slightly.
Persons: Mary Barra, Morgan Stanley, Paul Jacobson, it's, EVs Barra, Barra, Chevrolet Bolt, Tesla Organizations: CNN, GM, Chevrolet, Hong, EV, Monday GM, Center for Research, University of Chicago, Barra Locations: York, United States, Lordstown , Ohio, Spring Hill , Tennessee, Chinese, Hong Guang, China
Investors “are going to be looking for signs that the Fed might believe that inflation is more permanent,” said Michael Arone, chief investment strategist for State Street Global Advisors. Stocks on Thursday brushed off data showing that consumer prices rose in May at their fastest annual pace in 13 years, as the S&P 500 hit a new record. Most investors believe the Fed will only start tapering its bond purchases in late 2021 or early next year. Bets in the eurodollar futures markets show investors believe the Fed will start hiking its benchmark rate in late 2022. S&P 500 earnings are now expected to jump 36% this year, compared to an April estimate of 26% growth, with earnings expected to rise another roughly 12% in 2022, according to Refinitiv IBES.
Persons: , Michael Arone, Carlo Allegri “, Chris Galipeau, Refinitiv, Morgan Stanley, Matthew Miskin Organizations: YORK, Federal, Treasury, State Street Global Advisors, New York Stock Exchange, REUTERS, Putnam Investments, BofA, Research, National Federation of Independent, American Association of, Investors, , Bulls, John Hancock Investment Management Locations: U.S, , Wyoming, Manhattan, New York City , New York
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