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☆ Origin Energy expects earnings from energy markets unit to jump in fiscal 2023
▼ + stars: | 2022-10-18 | by ( ) www.reuters.com time to read: +1 min

Oct 19 (Reuters) - Origin Energy Ltd (ORG.AX) on Wednesday forecast a sharp increase in underlying earnings from its energy markets business in fiscal 2023, helped by higher natural gas prices. Origin in mid-August withheld outlook for 2023 due to extreme gas and power price volatility, as well as coal supply problems at its Eraring power plant, a decision that left investors disappointed. Register now for FREE unlimited access to Reuters.com RegisterThe company now expects underlying earnings before interest, taxes, depreciation, and amortization for its energy markets division between A$500 million ($315.65 million) and A$650 million in fiscal 2023, compared with A$365 million a year earlier. Origin expects the unit to grow further in fiscal 2024, driven by a higher contribution from its electricity business. ($1 = 1.5840 Australian dollars)Register now for FREE unlimited access to Reuters.com RegisterReporting by Harish Sridharan in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

☆ Reaching Consumers the Goldman Way
▼ + stars: | 2022-10-18 | by ( Telis Demos | ) www.wsj.com time to read: 1 min

Goldman Sachs will combine investment banking with its global markets unit, and it will combine asset management with wealth management. Goldman Sachs still wants to take deposits and lend money. But it doesn’t want to play the game the same way. On its Tuesday earnings call, Chief Executive David Solomon detailed an anticipated change in how Goldman reports its business: It will combine investment banking with its global markets unit, and it will combine asset management with wealth management, which will also include its Marcus products.

☆ Banks Feast on Higher Rates, for Now
▼ + stars: | 2022-10-14 | by ( Telis Demos | ) www.wsj.com time to read: 1 min

Banks have been pocketing the extra money they have made from higher interest rates. Now investors will see if they built up enough for tougher times ahead. JPMorgan Chase third-quarter net interest income, which is driven by both rising rates and growing loan books, was about a third higher than a year ago. Thanks in part to the Federal Reserve’s recent interest-rate increases, JPMorgan raised its 2022 forecast for net interest income revenue, excluding its volatile markets unit, to about $61.5 billion, up from $58 billion.

☆ Jefferies beats quarterly profit estimates on lift from merchant banking
▼ + stars: | 2022-09-28 | by ( ) www.reuters.com time to read: +2 min

Sept 28 (Reuters) - Jefferies Financial Group Inc (JEF.N) on Wednesday beat analysts' estimates for third-quarter profit as robust performance in its merchant banking unit helped cushion the blow from sluggish dealmaking. The merchant banking division was boosted by the sale of its wood and lumber products business, Idaho Timber, the bank said. The bank said in July it would reduce the size of its merchant banking portfolio that includes investments in real estate, oil and gas, and other public companies as part of a restructuring. After a stellar run in 2021, U.S. investment banking giants have struggled for most of this year as a market sell-off crushes corporate appetite for dealmaking. Register now for FREE unlimited access to Reuters.com RegisterReporting by Niket Nishant in BengaluruOur Standards: The Thomson Reuters Trust Principles.

☆ Scotiabank names Thomson as chief executive officer
▼ + stars: | 2022-09-26 | by ( ) www.reuters.com time to read: +2 min

Register now for FREE unlimited access to Reuters.com RegisterA person walks infant of a sign for The Bank of Nova Scotia, operating as Scotiabank, in Toronto, Ontario, Canada December 13, 2021. REUTERS/Carlos OsorioSept 26 (Reuters) - Bank of Nova Scotia (BNS.TO) said on Monday it appointed Scott Thomson to succeed Chief Executive Officer Brian Porter, at a time when the Canadian banking sector is struggling with market turmoil and rising interest rates. Thomson, who has been a member of the board of Bank of Nova Scotia since 2016, will initially start as president from Dec. 1, overseeing Canadian banking, global banking and markets, global wealth management and international banking at the bank. Register now for FREE unlimited access to Reuters.com RegisterAt Finning, Thomson helped boost return on invested capital in all business units, particularly in Latin America. read moreLast month several brokerages aggressively downgraded the largest Canadian bank as profits at its international banking segment fell below estimates and risks rose from modest net interest margin expectations.

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