3 hours ago
By Chuck Mikolajczak
NEW YORK, Aug 26 (Reuters) - The dollar advanced on Wednesday after a batch of U.S. economic data, including a reading on inflation, that slightly pushed up expectations for a rate hike from the Federal Reserve ahead of the Jackson Hole symposium of central bankers this week.
The Commerce Department said the Personal Consumption Expenditures Price Index increased 3.7% in the 12 months through July, unchanged from June and slightly above the 3.6% estimate of economists polled by Reuters. On a month-over-month basis, PCE rose 0.2% versus the estimate calling for a 0.1% increase, after falling 0.1% in June.
"Overall, because the headline was warm enough to prevent a dovish victory, those details weren't really strong enough to hand the hawks a clear win, so I wouldn't chase the rally at all," said George Vessey, lead FX and macro strategist at Convera in London.
"But I wouldn't fade it aggressively either, we've got loads of competing narratives driving FX at the moment, particularly the dollar, haven't we, so it's hard to have a strong conviction in either direction right now."
#reuters #estimate
NEW YORK, Aug 26 (Reuters) - The dollar advanced on Wednesday after a batch of U.S. economic data, including a reading on inflation, that slightly pushed up expectations for a rate hike from the Federal Reserve ahead of the Jackson Hole symposium of central bankers this week.
The Commerce Department said the Personal Consumption Expenditures Price Index increased 3.7% in the 12 months through July, unchanged from June and slightly above the 3.6% estimate of economists polled by Reuters. On a month-over-month basis, PCE rose 0.2% versus the estimate calling for a 0.1% increase, after falling 0.1% in June.
"Overall, because the headline was warm enough to prevent a dovish victory, those details weren't really strong enough to hand the hawks a clear win, so I wouldn't chase the rally at all," said George Vessey, lead FX and macro strategist at Convera in London.
"But I wouldn't fade it aggressively either, we've got loads of competing narratives driving FX at the moment, particularly the dollar, haven't we, so it's hard to have a strong conviction in either direction right now."
#reuters #estimate
17 hours ago
As central bankers gather for the 49th annual economic symposium in Jackson Hole, Wyo., starting Thursday evening, Kansas City Fed president Jeff Schmid warned that the rise of innovation in payments from stablecoins to blockchain and instantaneous payments could be disruptive.
"I think we're going to find that not only is this, from an innovation standpoint, very transitional, it's going to be very disruptive too," Schmid said in an interview with Yahoo Finance.
The theme of this year's gathering focuses on financial innovation in payments and the implications for monetary policy.
"I think we need to prepare," Schmid said. "We're going to be talking in the next decade more about sources of liquidity and duration, maybe more than we talked about capital, because at the end of the day, that $5 [trillion] or $10 trillion that we move a day is going to over time become instantaneous, and that's going to be a change in the system at large."
If payments become instantaneous and settle instantaneously, Schmid wonders, how does that impact liquidity, and what's the nature of ******* ets backing the instruments?
#liquidity
"I think we're going to find that not only is this, from an innovation standpoint, very transitional, it's going to be very disruptive too," Schmid said in an interview with Yahoo Finance.
The theme of this year's gathering focuses on financial innovation in payments and the implications for monetary policy.
"I think we need to prepare," Schmid said. "We're going to be talking in the next decade more about sources of liquidity and duration, maybe more than we talked about capital, because at the end of the day, that $5 [trillion] or $10 trillion that we move a day is going to over time become instantaneous, and that's going to be a change in the system at large."
If payments become instantaneous and settle instantaneously, Schmid wonders, how does that impact liquidity, and what's the nature of ******* ets backing the instruments?
#liquidity
18 hours ago
By Chuck Mikolajczak
NEW YORK, Aug 27 (Reuters) - The dollar was little changed on Thursday after a round of economic data, while attention began to shift towards a speech by Federal Reserve Chair Kevin Warsh at the Jackson Hole symposium.
Warsh is scheduled to speak at the gathering of central bankers on Friday, where investors will watch for clues on how policymakers plan to navigate a landscape in which higher Treasury yields could do some of the tightening work for them.
The dollar has rebounded somewhat this week from sharp declines in the prior week after U.S. Treasury Secretary Scott Bessent said the Treasury would double the size of quarterly repurchases of longer-dated bonds, sparking concerns that a shift to a more direct strategy to mitigate the rise in borrowing costs could lead to a debasement of the dollar.
The dollar index, which measures the greenback against a basket of currencies, edged up 0.02% to 99.14, with the euro up 0.01% at $1.165.
#shift #week #chuck #reuters
NEW YORK, Aug 27 (Reuters) - The dollar was little changed on Thursday after a round of economic data, while attention began to shift towards a speech by Federal Reserve Chair Kevin Warsh at the Jackson Hole symposium.
Warsh is scheduled to speak at the gathering of central bankers on Friday, where investors will watch for clues on how policymakers plan to navigate a landscape in which higher Treasury yields could do some of the tightening work for them.
The dollar has rebounded somewhat this week from sharp declines in the prior week after U.S. Treasury Secretary Scott Bessent said the Treasury would double the size of quarterly repurchases of longer-dated bonds, sparking concerns that a shift to a more direct strategy to mitigate the rise in borrowing costs could lead to a debasement of the dollar.
The dollar index, which measures the greenback against a basket of currencies, edged up 0.02% to 99.14, with the euro up 0.01% at $1.165.
#shift #week #chuck #reuters
18 hours ago
By Michael S. Derby
Aug 27 (Reuters) - Two Federal Reserve officials on Thursday shared their ongoing concerns about the U.S. inflation outlook, as central bankers gathered in Jackson Hole, Wyoming for the Kansas City Fed's closely watched annual economic symposium.
Inflation is "still stubborn and it's still sticky and we've got to continue to find ways to break through" and get it back to 2%, Kansas City Fed President Jeffrey Schmid said on CNBC on the sidelines of the conference.
He noted that the U.S. central bank's current 3.50%-3.75% policy rate did not appear to be restrictive.
"I don't know what we're restricting currently with the rate policy that we're at today," Schmid said.
#policy #we 're #michael
Aug 27 (Reuters) - Two Federal Reserve officials on Thursday shared their ongoing concerns about the U.S. inflation outlook, as central bankers gathered in Jackson Hole, Wyoming for the Kansas City Fed's closely watched annual economic symposium.
Inflation is "still stubborn and it's still sticky and we've got to continue to find ways to break through" and get it back to 2%, Kansas City Fed President Jeffrey Schmid said on CNBC on the sidelines of the conference.
He noted that the U.S. central bank's current 3.50%-3.75% policy rate did not appear to be restrictive.
"I don't know what we're restricting currently with the rate policy that we're at today," Schmid said.
#policy #we 're #michael
2 days ago
By Alun John and Gregor Stuart Hunter
LONDON/SINGAPORE, Aug 26 (Reuters) - The dollar edged higher but remained range-bound against major peers on Wednesday as investors awaited U.S. inflation data that could set the tone ahead of the Jackson Hole symposium of central bankers later this week.
The most notable mover was the Australian dollar, which hit $0.71865, its highest level in three months, after data showed the trimmed mean CPI gauge, the Reserve Bank of Australia's preferred measure of cost-of-living pressures, rose at a faster-than-expected annual rate of 3.6%.
It was last up 0.24%, just below that level.
"With underlying inflation showing no signs of slowing, there's still a risk that the RBA will deliver another rate hike over the coming months," Capital Economics ***** ysts wrote in a research note.
#inflation
LONDON/SINGAPORE, Aug 26 (Reuters) - The dollar edged higher but remained range-bound against major peers on Wednesday as investors awaited U.S. inflation data that could set the tone ahead of the Jackson Hole symposium of central bankers later this week.
The most notable mover was the Australian dollar, which hit $0.71865, its highest level in three months, after data showed the trimmed mean CPI gauge, the Reserve Bank of Australia's preferred measure of cost-of-living pressures, rose at a faster-than-expected annual rate of 3.6%.
It was last up 0.24%, just below that level.
"With underlying inflation showing no signs of slowing, there's still a risk that the RBA will deliver another rate hike over the coming months," Capital Economics ***** ysts wrote in a research note.
#inflation
2 days ago
JPMorgan Chase is easing its approach to loans secured against shares held by employees and early investors in recently listed companies, the Financial Times reported citing people familiar with the matter.
Under its usual policy, the US banking giant does not accept shares in a company that has been public for fewer than 135 days as collateral for lending.
But before ******* eX's IPO in June, the bank told its bankers it would be willing to lend against shares in Elon Musk's rocket and AI company earlier than that, the report said.
People inside JPMorgan told the FT they expect the bank could take a similar view if Anthropic, the company behind the Claude chatbot, goes public. No final decision has been taken, however.
JPMorgan earned $75m from its role on the ******* eX listing, the report said.
#told #report #chase
Under its usual policy, the US banking giant does not accept shares in a company that has been public for fewer than 135 days as collateral for lending.
But before ******* eX's IPO in June, the bank told its bankers it would be willing to lend against shares in Elon Musk's rocket and AI company earlier than that, the report said.
People inside JPMorgan told the FT they expect the bank could take a similar view if Anthropic, the company behind the Claude chatbot, goes public. No final decision has been taken, however.
JPMorgan earned $75m from its role on the ******* eX listing, the report said.
#told #report #chase
2 days ago
This story was originally published on CFO Dive. To receive daily news and insights, subscribe to our free daily CFO Dive newsletter.
Artificial intelligence can help shave off hours of time when it comes to previously manual tasks, such as scenario planning or financial modeling. But as finance employees begin to rely more heavily on AI, it's crucial for finance employees to understand its inner workings — meaning "the CFO needs to have a whole set of processes in place around governance and ethics" when it comes to AI, according to Ian Schnoor, executive director of the Financial Modeling Institute.
The FMI offers a global program for financial modeling accreditation, a discipline where AI is becoming more entrenched. At the moment, many companies are still in the early days of adopting the technology, and "do not have strong disclosures or guidelines yet around AI," Schnoor told CFO Dive. "But if I was a CFO, I would want a policy to know exactly, how was AI used in this process?"
Schnoor, who began his career as an investment banker at Citibank, has served as executive director for the Toronto, Canda-based institute since 2016, according to his LinkedIn profile.
He also serves as an adjunct professor for the Smith School of Business at Queen's University in Toronto, Canada. Before FMI, he served as founder and president for the Marquee Group, a financial modeling training provider he sold to Training the Street in March of 2023.
#financial #toronto #institute #daily
Artificial intelligence can help shave off hours of time when it comes to previously manual tasks, such as scenario planning or financial modeling. But as finance employees begin to rely more heavily on AI, it's crucial for finance employees to understand its inner workings — meaning "the CFO needs to have a whole set of processes in place around governance and ethics" when it comes to AI, according to Ian Schnoor, executive director of the Financial Modeling Institute.
The FMI offers a global program for financial modeling accreditation, a discipline where AI is becoming more entrenched. At the moment, many companies are still in the early days of adopting the technology, and "do not have strong disclosures or guidelines yet around AI," Schnoor told CFO Dive. "But if I was a CFO, I would want a policy to know exactly, how was AI used in this process?"
Schnoor, who began his career as an investment banker at Citibank, has served as executive director for the Toronto, Canda-based institute since 2016, according to his LinkedIn profile.
He also serves as an adjunct professor for the Smith School of Business at Queen's University in Toronto, Canada. Before FMI, he served as founder and president for the Marquee Group, a financial modeling training provider he sold to Training the Street in March of 2023.
#financial #toronto #institute #daily
2 days ago
$544. That is the average withdrawal on Argentine retail crypto rails such as Lemon Wallet. The median transfer is between $150 and $270—closer to rent money than a portfolio shift.
That figure changes the familiar image of capital flight. Money once moved offshore through private bankers and complex accounts. Across Latin America, workers and small businesses can now do it from a phone.
BeInCrypto Intelligence's 23-page report, The Exodus Economy, traced six routes money takes out of the region and audited 12 products marketed as dollar accounts. We shared the findings with five industry executives. Their responses point to a difficult question: once digital dollars remove the friction from leaving, what could persuade that money to return?
Brazil shows why returns alone cannot explain the movement. The report sets local savings and dollars to a starting value of 100 in 2016.
Money-earning Brazil's benchmark CDI rate grew to about 150 over the next decade, while dollars held without yield ended at 99. Yet Brazilians' declared offshore wealth reached an estimated $654 billion in 2024.
#money #once #argentine
That figure changes the familiar image of capital flight. Money once moved offshore through private bankers and complex accounts. Across Latin America, workers and small businesses can now do it from a phone.
BeInCrypto Intelligence's 23-page report, The Exodus Economy, traced six routes money takes out of the region and audited 12 products marketed as dollar accounts. We shared the findings with five industry executives. Their responses point to a difficult question: once digital dollars remove the friction from leaving, what could persuade that money to return?
Brazil shows why returns alone cannot explain the movement. The report sets local savings and dollars to a starting value of 100 in 2016.
Money-earning Brazil's benchmark CDI rate grew to about 150 over the next decade, while dollars held without yield ended at 99. Yet Brazilians' declared offshore wealth reached an estimated $654 billion in 2024.
#money #once #argentine
3 days ago
Concerned about an AI bubble? Sign up for The Daily Upside for smart and actionable market news, built for investors.
For Kevin Warsh, this week brings high stakes in the Grand Tetons, where the world's business leaders will travel to look for clues about Federal Reserve economic policy.
The Fed chairman is slated to give his inaugural address to the Jackson Hole Economic Policy Symposium, where central bankers, Wall Street power brokers and government officials are hosted annually by the Kansas City Fed.
Sign up for The Daily Upside at no cost for premium **** ysis on all your favorite stocks.
READ ALSO: Nvidia Invites Investor Scrutiny of Capital Spending With Perplexity Talks and O, Canada: Trade Faceoff With US Snarls Automobile, Steel Markets
#sign #upside #warsh #grand
For Kevin Warsh, this week brings high stakes in the Grand Tetons, where the world's business leaders will travel to look for clues about Federal Reserve economic policy.
The Fed chairman is slated to give his inaugural address to the Jackson Hole Economic Policy Symposium, where central bankers, Wall Street power brokers and government officials are hosted annually by the Kansas City Fed.
Sign up for The Daily Upside at no cost for premium **** ysis on all your favorite stocks.
READ ALSO: Nvidia Invites Investor Scrutiny of Capital Spending With Perplexity Talks and O, Canada: Trade Faceoff With US Snarls Automobile, Steel Markets
#sign #upside #warsh #grand
3 days ago
After a dizzying week centered on mixed retail earnings, rising bond yields, and a surprise intervention from the Treasury Department, investors step into another action-packed five-day stretch. The president plans to unveil an economic battle plan against Iran, AI kingpin Nvidia (NVDA) will report earnings to punctuate Big Tech's quarter, and all-important inflation data will arrive to steer the Fed on its next rate-setting journey. Economists and central bankers will huddle at the Jackson Hole Symposium, too.
The S&P 500 (^GSPC) closed out Friday up 0.4% for a loss of 1.4% on the week. The Dow (^DJI) rose 1% to close the week on a loss of 0.9%. And the Nasdaq (^IXIC) increased 0.4% but shed 2% on the week.
Retailers across the budget spectrum will continue the stretch of earnings offering insight into the American consumer. **** 'S Sporting Goods (DKS) will report on Tuesday, followed by Five Below (FIVE), Urban Outfitters (URBN), and Bath & Body Works (BBWI) on Wednesday. Ulta Beauty (ULTA) will share results on Thursday after major retailers last week spotlighted beauty as a growth center. And Dollar General (DG) and Dollar Tree (DLTR) will shed light on how strongly middle- and higher-income Americans are trading down and hunting for bargains. But perhaps the most attention will land on Nvidia, reporting on Wednesday, in a test of the comeback AI trade.
The economic data front is just as busy. The Chicago Fed will kick the week off delivering the national activity index. Tuesday will feature the Conference Board's consumer confidence surveys. And then all eyes will turn to the Fed's preferred inflation gauge, the PCE price index, on Wednesday, helping to define which way the central bank will go at its next policy meeting in September. The University of Michigan's consumer surveys on inflation expectations and the broader economy will round out the week.
The last of the "Magnificent Seven" is set to report on Wednesday in what amounts to a test of the once flagging but now resurgent AI trade.
#wednesday #Consumer
The S&P 500 (^GSPC) closed out Friday up 0.4% for a loss of 1.4% on the week. The Dow (^DJI) rose 1% to close the week on a loss of 0.9%. And the Nasdaq (^IXIC) increased 0.4% but shed 2% on the week.
Retailers across the budget spectrum will continue the stretch of earnings offering insight into the American consumer. **** 'S Sporting Goods (DKS) will report on Tuesday, followed by Five Below (FIVE), Urban Outfitters (URBN), and Bath & Body Works (BBWI) on Wednesday. Ulta Beauty (ULTA) will share results on Thursday after major retailers last week spotlighted beauty as a growth center. And Dollar General (DG) and Dollar Tree (DLTR) will shed light on how strongly middle- and higher-income Americans are trading down and hunting for bargains. But perhaps the most attention will land on Nvidia, reporting on Wednesday, in a test of the comeback AI trade.
The economic data front is just as busy. The Chicago Fed will kick the week off delivering the national activity index. Tuesday will feature the Conference Board's consumer confidence surveys. And then all eyes will turn to the Fed's preferred inflation gauge, the PCE price index, on Wednesday, helping to define which way the central bank will go at its next policy meeting in September. The University of Michigan's consumer surveys on inflation expectations and the broader economy will round out the week.
The last of the "Magnificent Seven" is set to report on Wednesday in what amounts to a test of the once flagging but now resurgent AI trade.
#wednesday #Consumer
4 days ago
After a dizzying week centered on mixed retail earnings, rising bond yields, and a surprise intervention from the Treasury Department, investors step into another action-packed five-day stretch. The president plans to unveil an economic battle plan against Iran, AI kingpin Nvidia (NVDA) will report earnings to punctuate Big Tech's quarter, and all-important inflation data will arrive to steer the Fed on its next rate-setting journey. Economists and central bankers will huddle at the Jackson Hole Symposium, too.
The S&P 500 (^GSPC) closed out Friday up 0.4% for a loss of 1.4% on the week. The Dow (^DJI) rose 1% to close the week on a loss of 0.9%. And the Nasdaq (^IXIC) increased 0.4% but shed 2% on the week.
Retailers across the budget spectrum will continue the stretch of earnings offering insight into the American consumer. ****** 'S Sporting Goods (DKS) will report on Tuesday, followed by Five Below (FIVE), Urban Outfitters (URBN), and Bath & Body Works (BBWI) on Wednesday. Ulta Beauty (ULTA) will share results on Thursday after major retailers last week spotlighted beauty as a growth center. And Dollar General (DG) and Dollar Tree (DLTR) will shed light on how strongly middle- and higher-income Americans are trading down and hunting for bargains. But perhaps the most attention will land on Nvidia, reporting on Wednesday, in a test of the comeback AI trade.
The economic data front is just as busy. The Chicago Fed will kick the week off delivering the national activity index. Tuesday will feature the Conference Board's consumer confidence surveys. And then all eyes will turn to the Fed's preferred inflation gauge, the PCE price index, on Wednesday, helping to define which way the central bank will go at its next policy meeting in September. The University of Michigan's consumer surveys on inflation expectations and the broader economy will round out the week.
The last of the "Magnificent Seven" is set to report on Wednesday in what amounts to a test of the once flagging but now resurgent AI trade.
#wednesday #earnings
The S&P 500 (^GSPC) closed out Friday up 0.4% for a loss of 1.4% on the week. The Dow (^DJI) rose 1% to close the week on a loss of 0.9%. And the Nasdaq (^IXIC) increased 0.4% but shed 2% on the week.
Retailers across the budget spectrum will continue the stretch of earnings offering insight into the American consumer. ****** 'S Sporting Goods (DKS) will report on Tuesday, followed by Five Below (FIVE), Urban Outfitters (URBN), and Bath & Body Works (BBWI) on Wednesday. Ulta Beauty (ULTA) will share results on Thursday after major retailers last week spotlighted beauty as a growth center. And Dollar General (DG) and Dollar Tree (DLTR) will shed light on how strongly middle- and higher-income Americans are trading down and hunting for bargains. But perhaps the most attention will land on Nvidia, reporting on Wednesday, in a test of the comeback AI trade.
The economic data front is just as busy. The Chicago Fed will kick the week off delivering the national activity index. Tuesday will feature the Conference Board's consumer confidence surveys. And then all eyes will turn to the Fed's preferred inflation gauge, the PCE price index, on Wednesday, helping to define which way the central bank will go at its next policy meeting in September. The University of Michigan's consumer surveys on inflation expectations and the broader economy will round out the week.
The last of the "Magnificent Seven" is set to report on Wednesday in what amounts to a test of the once flagging but now resurgent AI trade.
#wednesday #earnings
5 days ago
By Jonathan Stempel
NEW YORK, Aug 21 (Reuters) - The U.S. Securities and Exchange Commission on Friday charged a former senior Bank of America investment banker with insider trading, alleging he tipped a longtime friend and former colleague about a pending merger, allowing the friend to make $18.5 million of illegal profit.
Jason Satsky, who was Bank of America's co-head of Americas power and renewable energy banking, allegedly tipped Gavin Wolfe in late 2021 about the potential acquisition of South Jersey Industries, an energy holding company that the bank was advising.
The SEC said Wolfe, who runs the firm Evergreen Capital and has been Satsky's friend for more than 20 years, bought more than 2.2 million shares of the South Jersey Gas parent worth about $53 million, and realized a 36% gain after the company announced an $8.1 billion buyout on February 24, 2022.
Satsky and Wolfe allegedly communicated multiple times about a possible acquisition, including when they and their wives attended a nationally televised college basketball game between Duke and Kentucky at Madison Square Garden, where Satsky had luxury box seats obtained through Bank of America.
#bank #million #jersey #former
NEW YORK, Aug 21 (Reuters) - The U.S. Securities and Exchange Commission on Friday charged a former senior Bank of America investment banker with insider trading, alleging he tipped a longtime friend and former colleague about a pending merger, allowing the friend to make $18.5 million of illegal profit.
Jason Satsky, who was Bank of America's co-head of Americas power and renewable energy banking, allegedly tipped Gavin Wolfe in late 2021 about the potential acquisition of South Jersey Industries, an energy holding company that the bank was advising.
The SEC said Wolfe, who runs the firm Evergreen Capital and has been Satsky's friend for more than 20 years, bought more than 2.2 million shares of the South Jersey Gas parent worth about $53 million, and realized a 36% gain after the company announced an $8.1 billion buyout on February 24, 2022.
Satsky and Wolfe allegedly communicated multiple times about a possible acquisition, including when they and their wives attended a nationally televised college basketball game between Duke and Kentucky at Madison Square Garden, where Satsky had luxury box seats obtained through Bank of America.
#bank #million #jersey #former
7 days ago
Warren Buffett's Berkshire Hathaway, which is now run by Greg Abel, revealed in its latest 13F filing that the fund bought a new stake in D.R. Horton (NYSE:DHI), worth about $580,000. The fund also increased its stake in fellow homebuilder Lennar (NYSE:LEN) by 30% in the second quarter, lifting that position to about $1.2 billion.
The housing market has been taking a hit amid higher mortgage rates, but some long-term indicators suggest a rebound could come. J.P. Morgan Global Research expects home prices to remain flat in 2026 but sees a 3% rise in 2027. Capital Economics forecasts a 2.5% rebound in home prices in 2027, followed by a 4% gain in 2028. The Mortgage Bankers ******* ociation expects single-family construction starts to recover to 967,000 in 2027 and 976,000 in 2028, after dipping in 2026.
DHI is one of the largest homebuilders in the country. In the most recent quarter, gross margin actually beat guidance at 20.7% even as prices slipped amid declining construction costs. The stock is down 10% over the past year. Bulls point out that a broader housing recovery is expected sooner or later and DHI is a strong play to benefit from it in the long term.
Bears say a recovery would take a lot of time. The company recently cut its full-year revenue guidance and Q4 guidance calls for a sequential slowdown in both revenue and homes closed. Elevated mortgage rates, sticky inflation, and cautious buyers are forcing DHI to lean on incentives and lower average prices to keep volume moving and these pressures are not expected to ease soo.
Forward non-GAAP P/E sits at 13.95x, about 13% below the sector median of 15.99x, but 40% above DHI's own five-year average of 9.99x. On a GAAP basis, forward P/E of 13.96x is below the sector median by roughly 19%, yet sits 40% above the stock's five-year norm.
#NYSE #fund
The housing market has been taking a hit amid higher mortgage rates, but some long-term indicators suggest a rebound could come. J.P. Morgan Global Research expects home prices to remain flat in 2026 but sees a 3% rise in 2027. Capital Economics forecasts a 2.5% rebound in home prices in 2027, followed by a 4% gain in 2028. The Mortgage Bankers ******* ociation expects single-family construction starts to recover to 967,000 in 2027 and 976,000 in 2028, after dipping in 2026.
DHI is one of the largest homebuilders in the country. In the most recent quarter, gross margin actually beat guidance at 20.7% even as prices slipped amid declining construction costs. The stock is down 10% over the past year. Bulls point out that a broader housing recovery is expected sooner or later and DHI is a strong play to benefit from it in the long term.
Bears say a recovery would take a lot of time. The company recently cut its full-year revenue guidance and Q4 guidance calls for a sequential slowdown in both revenue and homes closed. Elevated mortgage rates, sticky inflation, and cautious buyers are forcing DHI to lean on incentives and lower average prices to keep volume moving and these pressures are not expected to ease soo.
Forward non-GAAP P/E sits at 13.95x, about 13% below the sector median of 15.99x, but 40% above DHI's own five-year average of 9.99x. On a GAAP basis, forward P/E of 13.96x is below the sector median by roughly 19%, yet sits 40% above the stock's five-year norm.
#NYSE #fund
16 days ago
US stocks were muted on Wednesday as investors ***** sed easing inflation data, which is likely to keep Federal Reserve officials divided on whether to raise interest rates.
The Dow Jones Industrial Average (^DJI) wavered near the flat line while the S&P 500 (^GSPC) edged up 0.2%. The Nasdaq Composite (^IXIC) rose 0.3% in what is a relatively quiet week in markets beyond the tail end of earnings season.
The Consumer Price Index print showed inflation continued to cool in July to a 3.4% annual rate, matching economists' expectations and easing from June's 3.5% increase. On a monthly basis, inflation rose 0.1% from June.
Despite a slight pullback, inflation remains stubbornly above the Fed's 2% target, complicating central bankers' next decision to hold or hike rates in September. Following Wednesday's inflation data, traders tilted their bets toward the Fed holding rates steady after a roughly 50-50 split the day before.
Ongoing tensions in the Middle East serve as the backdrop propping up inflation and Treasury yields as the US and Iran remain deadlocked in negotiations to reopen the Strait of Hormuz. The US enforced its blockade of the strait by firing on a Panama-flagged ship attempting to cross the Gulf of Oman on Tuesday, lifting Brent crude futures (BZ=F) close to $90 per barrel.
#inflation #rates #reserve
The Dow Jones Industrial Average (^DJI) wavered near the flat line while the S&P 500 (^GSPC) edged up 0.2%. The Nasdaq Composite (^IXIC) rose 0.3% in what is a relatively quiet week in markets beyond the tail end of earnings season.
The Consumer Price Index print showed inflation continued to cool in July to a 3.4% annual rate, matching economists' expectations and easing from June's 3.5% increase. On a monthly basis, inflation rose 0.1% from June.
Despite a slight pullback, inflation remains stubbornly above the Fed's 2% target, complicating central bankers' next decision to hold or hike rates in September. Following Wednesday's inflation data, traders tilted their bets toward the Fed holding rates steady after a roughly 50-50 split the day before.
Ongoing tensions in the Middle East serve as the backdrop propping up inflation and Treasury yields as the US and Iran remain deadlocked in negotiations to reopen the Strait of Hormuz. The US enforced its blockade of the strait by firing on a Panama-flagged ship attempting to cross the Gulf of Oman on Tuesday, lifting Brent crude futures (BZ=F) close to $90 per barrel.
#inflation #rates #reserve
16 days ago
The Dallas Cowboys can't be beat … when it comes to team valuations, at least. The Cowboys once again topped Sportico's list of the most valuable NFL franchises, coming in at an astounding $15.5 billion.
It marks the seventh-straight year the Cowboys have led the way on the list. While the team should be happy with that placement, every other NFL team can celebrate as well, as the average team value jumped 31 percent since 2025, per Sportico.
The average team value rose 31% to $9.34 billion, based on conversations with more than 40 people involved in the league, including team owners, executives, investors, consultants and bankers. It marks the biggest year-over-year value gain for the NFL since Sportico's valuations launched in 2020. The average value has increased 141% over the past five years.
That's an astonishing figure, one made even more impressive when you consider the Cincinnati Bengals, which rank No. 32 on Sportico's list, are more valuable than all but six other professional sports teams. The NFL truly remains the king.
The Los Angeles Rams rank second on Sportico's list, and are valued at $12.7 billion. The New York Giants come in at third, the New England Patriots sit fourth and the New York Jets are fifth on the list. Given their struggles in recent seasons, it might be surprising to see the Jets that high. But the team is on the rise … from a value perspective, at least … as it jumped three spots in the rankings since 2025.
#value #cowboys #billion #since
It marks the seventh-straight year the Cowboys have led the way on the list. While the team should be happy with that placement, every other NFL team can celebrate as well, as the average team value jumped 31 percent since 2025, per Sportico.
The average team value rose 31% to $9.34 billion, based on conversations with more than 40 people involved in the league, including team owners, executives, investors, consultants and bankers. It marks the biggest year-over-year value gain for the NFL since Sportico's valuations launched in 2020. The average value has increased 141% over the past five years.
That's an astonishing figure, one made even more impressive when you consider the Cincinnati Bengals, which rank No. 32 on Sportico's list, are more valuable than all but six other professional sports teams. The NFL truly remains the king.
The Los Angeles Rams rank second on Sportico's list, and are valued at $12.7 billion. The New York Giants come in at third, the New England Patriots sit fourth and the New York Jets are fifth on the list. Given their struggles in recent seasons, it might be surprising to see the Jets that high. But the team is on the rise … from a value perspective, at least … as it jumped three spots in the rankings since 2025.
#value #cowboys #billion #since
17 days ago
Aug 11 (Reuters) - U.S. President Donald Trump accused Iran of being "devious negotiators" in an interview released late on Monday and described some of his current options in the war — "just bop along" and let Tehran fail economically or hit them "really, really hard."
"I'm sort of negotiating," Trump told Real America's Voice in a phone interview. "They're very devious negotiators."
Since the conflict began in late February, Trump has repeatedly oscillated between threats of escalation and claims that a peace deal is imminent. Pakistan said on Tuesday the U.S. and Iran were close to "some sort" of deal, and Qatar said talks on managing the Strait of Hormuz were at an advanced stage, despite reports of new attacks on shipping in regional waters.
Trump described one of his possible strategies as: "Do what I'm doing now: just bop along and look how bad they're doing."
"Economically, they are a mess. They can't borrow money. We control their money, what they had, which is a lot. They had a lot, and we have total control of it. I'm their banker," he said, referring to frozen Iranian ******* ets.
#Iran #interview
"I'm sort of negotiating," Trump told Real America's Voice in a phone interview. "They're very devious negotiators."
Since the conflict began in late February, Trump has repeatedly oscillated between threats of escalation and claims that a peace deal is imminent. Pakistan said on Tuesday the U.S. and Iran were close to "some sort" of deal, and Qatar said talks on managing the Strait of Hormuz were at an advanced stage, despite reports of new attacks on shipping in regional waters.
Trump described one of his possible strategies as: "Do what I'm doing now: just bop along and look how bad they're doing."
"Economically, they are a mess. They can't borrow money. We control their money, what they had, which is a lot. They had a lot, and we have total control of it. I'm their banker," he said, referring to frozen Iranian ******* ets.
#Iran #interview
20 days ago
President Donald Trump has always loved the idea of taking other countries' oil by force. And he claims to have accomplished that goal in Venezuela. The war there "lasted 48 minutes, and we paid for the war with what we've taken out many, many, many times. Where have you heard that before? You haven't heard that before. That's the old fashioned way, right? The old-fashioned way. To the victor belong the spoils," Trump told a crowd in Las Vegas on Wednesday.
That's not how other officials advertised U.S. oversight of Venezuelan oil. "We're the bankers, we don't direct the funds," Secretary of the Treasury Scott Bessent told the Economic Club of Minnesota in January. "This is the oil of the people of Venezuela," Secretary of State Marco Rubio testified to Congress a few weeks later, claiming that the U.S. government was making sure that "the needs of the Venezuelan people can be met" through oil sales.
In a way, they're both right. Shortly after the U.S. military operation in Venezuela on January 3, 2026, the two countries cut a deal to put sanctioned Venezuelan oil revenues under the control of the U.S. Treasury. The money still belongs to Venezuela on paper, but it's controlled by U.S. officials for all practical purposes—and trying to get any transparency on where it's going has been like pulling teeth.
The oil deal demonstrates the raw, unaccountable, and global power that economic sanctions give to the U.S. Treasury. Neither the American nor the Venezuelan people have a clear picture of what's going on. The case of Venezuela also shows how, despite invoking Ronald Reagan's anticommunism, the Trump administration is much more concerned with imposing direct economic control than nurturing free markets. After all, the Venezuelan oil deal is a U.S. partnership with a socialist dictatorship.
Over the past two decades, the U.S. Treasury had imposed sanctions on the Venezuelan oil and banking sectors, preventing Venezuela's state-owned oil company from exporting to North America and its socialist government from dealing in U.S. dollars. After the January 2026 operation, the Venezuelan leadership cut a deal. The Trump administration issued sanctions exemptions and even shielded Venezuelan money from U.S. lawsuits. In exchange, Venezuela began putting its oil revenues into bank accounts in the "custody" of the U.S. Treasury.
#january
That's not how other officials advertised U.S. oversight of Venezuelan oil. "We're the bankers, we don't direct the funds," Secretary of the Treasury Scott Bessent told the Economic Club of Minnesota in January. "This is the oil of the people of Venezuela," Secretary of State Marco Rubio testified to Congress a few weeks later, claiming that the U.S. government was making sure that "the needs of the Venezuelan people can be met" through oil sales.
In a way, they're both right. Shortly after the U.S. military operation in Venezuela on January 3, 2026, the two countries cut a deal to put sanctioned Venezuelan oil revenues under the control of the U.S. Treasury. The money still belongs to Venezuela on paper, but it's controlled by U.S. officials for all practical purposes—and trying to get any transparency on where it's going has been like pulling teeth.
The oil deal demonstrates the raw, unaccountable, and global power that economic sanctions give to the U.S. Treasury. Neither the American nor the Venezuelan people have a clear picture of what's going on. The case of Venezuela also shows how, despite invoking Ronald Reagan's anticommunism, the Trump administration is much more concerned with imposing direct economic control than nurturing free markets. After all, the Venezuelan oil deal is a U.S. partnership with a socialist dictatorship.
Over the past two decades, the U.S. Treasury had imposed sanctions on the Venezuelan oil and banking sectors, preventing Venezuela's state-owned oil company from exporting to North America and its socialist government from dealing in U.S. dollars. After the January 2026 operation, the Venezuelan leadership cut a deal. The Trump administration issued sanctions exemptions and even shielded Venezuelan money from U.S. lawsuits. In exchange, Venezuela began putting its oil revenues into bank accounts in the "custody" of the U.S. Treasury.
#january
20 days ago
While investors fixate on the AI boom, a warning from a group of Wall Street bankers whose job is to help the U.S. government borrow went unnoticed.
In minutes released Aug. 5, the Treasury Borrowing Advisory Committee—a panel of senior bond dealers and investors, known as TBAC, that advises the Treasury on its own funding—warned that at current auction sizes, the government faces a $1.45 trillion funding shortfall in fiscal 2027–28.
What that means takes a primer to understand how Washington actually borrows. The Treasury doesn't take out one huge annual loan, rather, it raises cash by selling debt at regularly scheduled auctions. The shortest-dated IOUs, sometimes called "T-bills," come due in a year or less, while the longer-dated notes and bonds — known as "coupons" — run anywhere from two to 30 years.
The T-bills offer Washington, now, a rare opportunity to borrow money for the cheap.
At the time of writing, the three-month bill yielded around 3.8%, while the 10-year Treasury yield sat around 4.6%, and the 30-year at a multi-decade high above 5%. So what Treasury Secretary Scott Bessent has done is lean unusually hard on the cheaper rate today to finance a roughly $2 trillion annual deficit. That holds down reported borrowing costs but leaves the government more exposed to inflation and rising rates.
#year #known #funding
In minutes released Aug. 5, the Treasury Borrowing Advisory Committee—a panel of senior bond dealers and investors, known as TBAC, that advises the Treasury on its own funding—warned that at current auction sizes, the government faces a $1.45 trillion funding shortfall in fiscal 2027–28.
What that means takes a primer to understand how Washington actually borrows. The Treasury doesn't take out one huge annual loan, rather, it raises cash by selling debt at regularly scheduled auctions. The shortest-dated IOUs, sometimes called "T-bills," come due in a year or less, while the longer-dated notes and bonds — known as "coupons" — run anywhere from two to 30 years.
The T-bills offer Washington, now, a rare opportunity to borrow money for the cheap.
At the time of writing, the three-month bill yielded around 3.8%, while the 10-year Treasury yield sat around 4.6%, and the 30-year at a multi-decade high above 5%. So what Treasury Secretary Scott Bessent has done is lean unusually hard on the cheaper rate today to finance a roughly $2 trillion annual deficit. That holds down reported borrowing costs but leaves the government more exposed to inflation and rising rates.
#year #known #funding
28 days ago
GENEVA (AP) — Two senior FIFA officials criticized Gianni Infantino's World Cup sell-off plan Friday with one resigning as a presidential adviser and a second saying staff were deceived by project that must not go ahead.
Carlos Cordeiro, who represented the soccer body on the White House Task Force for the World Cup, resigned in protest at the private equity plan.
Politics: Fox World Cup **** yst Calls Trump 'The Soccer President'
"I cannot stand by while FIFA considers selling a stake in the World Cup," Cordeiro, a former Goldman Sachs banker, said in a statement resigning as adviser to FIFA President Gianni Infantino that urged other senior FIFA staff to speak out.
FIFA's chief operating officer Kevin Lamour said in a statement to The **** ociated Press staff were "deceived" by Infantino's lack of openness planning the private investor scheme and "deserve better than contempt and intimidation."
#cordeiro
Carlos Cordeiro, who represented the soccer body on the White House Task Force for the World Cup, resigned in protest at the private equity plan.
Politics: Fox World Cup **** yst Calls Trump 'The Soccer President'
"I cannot stand by while FIFA considers selling a stake in the World Cup," Cordeiro, a former Goldman Sachs banker, said in a statement resigning as adviser to FIFA President Gianni Infantino that urged other senior FIFA staff to speak out.
FIFA's chief operating officer Kevin Lamour said in a statement to The **** ociated Press staff were "deceived" by Infantino's lack of openness planning the private investor scheme and "deserve better than contempt and intimidation."
#cordeiro
28 days ago
July 31 (UPI) -- Carlos Cordeiro resigned as a FIFA senior adviser to protest a plan to sell stakes in the World Cup and other competitions to private equity investors, he announced Friday.
The former United States Soccer Federation president said he "had no involvement in the proposal," which he called a "bad deal for football" and the long-term future of the game.
Cordeiro worked closely alongside FIFA President Gianni Infantino and came with him to visit President Donald Trump at the White House. He represented FIFA on the White House Task Force for the 2026 World Cup.
"As a senior adviser to the FIFA president, a former banker and a lifelong football fan, I cannot stand by while FIFA considers selling a stake in the World Cup," Cordeiro wrote.
"Let me be clear: I had no involvement in this proposal, and I oppose it unequivocally. It is a bad deal for FIFA's member ****** ociations, a bad deal for football and a bad deal for the long-term future of the game."
#fifa #cordeiro #deal
The former United States Soccer Federation president said he "had no involvement in the proposal," which he called a "bad deal for football" and the long-term future of the game.
Cordeiro worked closely alongside FIFA President Gianni Infantino and came with him to visit President Donald Trump at the White House. He represented FIFA on the White House Task Force for the 2026 World Cup.
"As a senior adviser to the FIFA president, a former banker and a lifelong football fan, I cannot stand by while FIFA considers selling a stake in the World Cup," Cordeiro wrote.
"Let me be clear: I had no involvement in this proposal, and I oppose it unequivocally. It is a bad deal for FIFA's member ****** ociations, a bad deal for football and a bad deal for the long-term future of the game."
#fifa #cordeiro #deal
29 days ago
Our ******* ysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here.
Achieved record quarterly net income of $23 million, attributed to broad-based performance across loan growth, net interest margin expansion, and strong fee income.
HELOC balances grew 23% year-over-year, driven by technology investments that reduced average funding time to 14 days and increased lender depth.
Commercial banking momentum was bolstered by the addition of four experienced commercial bankers since year-end, contributing to a 45% sequential increase in the committed loan pipeline.
Net interest margin expansion of 2 basis points was primarily driven by lower funding costs and the optimization of the deposit mix away from broker and certificate deposits.
#income #driven
Achieved record quarterly net income of $23 million, attributed to broad-based performance across loan growth, net interest margin expansion, and strong fee income.
HELOC balances grew 23% year-over-year, driven by technology investments that reduced average funding time to 14 days and increased lender depth.
Commercial banking momentum was bolstered by the addition of four experienced commercial bankers since year-end, contributing to a 45% sequential increase in the committed loan pipeline.
Net interest margin expansion of 2 basis points was primarily driven by lower funding costs and the optimization of the deposit mix away from broker and certificate deposits.
#income #driven
1 month ago
By Jonathan Stempel
NEW YORK, July 27 (Reuters) - The former JPMorgan Chase banker whose lurid ****** ual harassment lawsuit went viral added new claims and defendants on Monday, saying the largest U.S. bank's acceptance of racism and ****** ual coercion irreparably destroyed his career.
Chirayu Rana said racism was ingrained in the culture of his otherwise all-white leveraged finance team, where his South Asian heritage "became the punchline for a stream of degrading jokes," including calling him a "monkey" and "brown boy."
JPMorgan has said it believed Rana's allegations were meritless. Neither the bank nor its lawyers had an immediate comment.
In an 82-page complaint, Rana, who is of Nepali descent, added allegations that colleagues suggested he transact in rupees, and one texted that he should "run before we call ICEE {sic} on your family," referring to U.S. Immigration and Customs Enforcement.
#rana #allegations
NEW YORK, July 27 (Reuters) - The former JPMorgan Chase banker whose lurid ****** ual harassment lawsuit went viral added new claims and defendants on Monday, saying the largest U.S. bank's acceptance of racism and ****** ual coercion irreparably destroyed his career.
Chirayu Rana said racism was ingrained in the culture of his otherwise all-white leveraged finance team, where his South Asian heritage "became the punchline for a stream of degrading jokes," including calling him a "monkey" and "brown boy."
JPMorgan has said it believed Rana's allegations were meritless. Neither the bank nor its lawyers had an immediate comment.
In an 82-page complaint, Rana, who is of Nepali descent, added allegations that colleagues suggested he transact in rupees, and one texted that he should "run before we call ICEE {sic} on your family," referring to U.S. Immigration and Customs Enforcement.
#rana #allegations
1 month ago
WestBridge Capital has started a process to exit its investment in Star Health and Allied Insurance, Moneycontrol reported, citing unnamed sources.
The report said the private equity firm has asked investment banks to present proposals for a mandate to oversee the sale of its stake, with JPMorgan identified as the preferred adviser.
Based on the June quarter shareholding pattern, WestBridge holds around 40% of Star Health through Safecrop Investments India, a consortium set up by WestBridge, late investor Rakesh Jhunjhunwala and Madison Capital.
WestBridge requested expressions of interest from investment bankers a few weeks ago to run a sale process for its Star Health shares.
The source said that the size, structure and timing of any deal have yet to be decided and will depend on market conditions and investor interest.
#westbridge #process #allied
The report said the private equity firm has asked investment banks to present proposals for a mandate to oversee the sale of its stake, with JPMorgan identified as the preferred adviser.
Based on the June quarter shareholding pattern, WestBridge holds around 40% of Star Health through Safecrop Investments India, a consortium set up by WestBridge, late investor Rakesh Jhunjhunwala and Madison Capital.
WestBridge requested expressions of interest from investment bankers a few weeks ago to run a sale process for its Star Health shares.
The source said that the size, structure and timing of any deal have yet to be decided and will depend on market conditions and investor interest.
#westbridge #process #allied
1 month ago
By Jonathan Stempel
NEW YORK, July 27 (Reuters) - The former JPMorgan Chase banker whose lurid **** ual harassment lawsuit went viral added new claims and defendants on Monday, saying the largest U.S. bank's acceptance of racism and **** ual coercion irreparably destroyed his career.
Chirayu Rana said racism was ingrained in the culture of his otherwise all-white leveraged finance team, where his South Asian heritage "became the punchline for a stream of degrading jokes," including calling him a "monkey" and "brown boy."
JPMorgan has said it believed Rana's allegations were meritless. Neither the bank nor its lawyers had an immediate comment.
In an 82-page complaint, Rana, who is of Nepali descent, added allegations that colleagues suggested he transact in rupees, and one texted that he should "run before we call ICEE {sic} on your family," referring to U.S. Immigration and Customs Enforcement.
#jpmorgan #jonathan
NEW YORK, July 27 (Reuters) - The former JPMorgan Chase banker whose lurid **** ual harassment lawsuit went viral added new claims and defendants on Monday, saying the largest U.S. bank's acceptance of racism and **** ual coercion irreparably destroyed his career.
Chirayu Rana said racism was ingrained in the culture of his otherwise all-white leveraged finance team, where his South Asian heritage "became the punchline for a stream of degrading jokes," including calling him a "monkey" and "brown boy."
JPMorgan has said it believed Rana's allegations were meritless. Neither the bank nor its lawyers had an immediate comment.
In an 82-page complaint, Rana, who is of Nepali descent, added allegations that colleagues suggested he transact in rupees, and one texted that he should "run before we call ICEE {sic} on your family," referring to U.S. Immigration and Customs Enforcement.
#jpmorgan #jonathan
1 month ago
Our ******* ysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here.
Performance was driven by a relationship-based community banking model that supported 9.8% annualized net loan growth and improved earning ******* et yields.
Net interest margin expanded by 6 basis points to 3.71%, benefiting from a disciplined shift in earning ******* et mix toward higher-yielding commercial loans.
The bank is intentionally transitioning its portfolio by redeploying runoff from lower-yielding investments and mortgage portfolios into the commercial pipeline.
Management attributed successful loan growth to strategic investments in commercial banking talent, adding 8 experienced bankers year-to-date to capture market share from regional competitors.
#banking
Performance was driven by a relationship-based community banking model that supported 9.8% annualized net loan growth and improved earning ******* et yields.
Net interest margin expanded by 6 basis points to 3.71%, benefiting from a disciplined shift in earning ******* et mix toward higher-yielding commercial loans.
The bank is intentionally transitioning its portfolio by redeploying runoff from lower-yielding investments and mortgage portfolios into the commercial pipeline.
Management attributed successful loan growth to strategic investments in commercial banking talent, adding 8 experienced bankers year-to-date to capture market share from regional competitors.
#banking
1 month ago
A home formerly belonging to music legend Joni Mitchell has hit the market
Mitchell's former Malibu home boasts five bedrooms, direct beach access, and stunning Pacific Ocean views
Earlier this year, Mitchell shared how surviving an aneurysm in 2015 led to positive life changes, including quitting smoking
A stunning Malibu, Calif., property that music legend Joni Mitchell once called home has hit the market for $27 million.
Located in the private, gated Malibu Colony community, the 4,000-square-foot home previously belonged to Mitchell, 82, and is currently being sold by a former Walt Disney Company board director who purchased it from the Blue singer, according to a press release from Coldwell Banker Realty.
#music
Mitchell's former Malibu home boasts five bedrooms, direct beach access, and stunning Pacific Ocean views
Earlier this year, Mitchell shared how surviving an aneurysm in 2015 led to positive life changes, including quitting smoking
A stunning Malibu, Calif., property that music legend Joni Mitchell once called home has hit the market for $27 million.
Located in the private, gated Malibu Colony community, the 4,000-square-foot home previously belonged to Mitchell, 82, and is currently being sold by a former Walt Disney Company board director who purchased it from the Blue singer, according to a press release from Coldwell Banker Realty.
#music
1 month ago
By Iain Withers
FARNBOROUGH, England, July 20 (Reuters) - Private investors are needed to funnel cash into European defence companies to plug the gap left by cash-strapped governments, but too often bottlenecks and barriers are discouraging investment, senior finance executives told the Farnborough Airshow on Monday.
"Public spending will not be enough, and we do need to mobilise private capital at scale," Cathal Deasy, global co-head of investment banking at British bank Barclays, told delegates, adding national governments needed to act faster and provide more clarity.
Bankers and investors are attending the annual aerospace event in record numbers this year, according to the event organisers, in part drawn by the prospect of cashing in on a global boom in defence investing amid rising geopolitical tensions.
However, investor sentiment has cooled recently, reflected in weaker defence firm stock prices, while Franco-German defence group KNDS this month put on hold its stock market listing until conditions improve.
FARNBOROUGH, England, July 20 (Reuters) - Private investors are needed to funnel cash into European defence companies to plug the gap left by cash-strapped governments, but too often bottlenecks and barriers are discouraging investment, senior finance executives told the Farnborough Airshow on Monday.
"Public spending will not be enough, and we do need to mobilise private capital at scale," Cathal Deasy, global co-head of investment banking at British bank Barclays, told delegates, adding national governments needed to act faster and provide more clarity.
Bankers and investors are attending the annual aerospace event in record numbers this year, according to the event organisers, in part drawn by the prospect of cashing in on a global boom in defence investing amid rising geopolitical tensions.
However, investor sentiment has cooled recently, reflected in weaker defence firm stock prices, while Franco-German defence group KNDS this month put on hold its stock market listing until conditions improve.
1 month ago
Meta Platforms (NASDAQ: META) stock tumbled 5.3% through 11:20 a.m. ET Friday amid a tech sell-off that's dragging down the Nasdaq by about 1.5%. You can probably blame banker BMO for that.
Or at least for the Meta part of the sell-off.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
BMO ******* yst Brian Pitz reiterated his market perform (i.e., hold) rating and $720 price target on Meta stock this morning. That doesn't sound like bad news -- Meta stock trades below $630 per share, so a $720 PT suggests the stock could rise 14% over the next 12 months.
And yet, Pitz isn't telling investors to buy Meta stock. Why not?
Or at least for the Meta part of the sell-off.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
BMO ******* yst Brian Pitz reiterated his market perform (i.e., hold) rating and $720 price target on Meta stock this morning. That doesn't sound like bad news -- Meta stock trades below $630 per share, so a $720 PT suggests the stock could rise 14% over the next 12 months.
And yet, Pitz isn't telling investors to buy Meta stock. Why not?
1 month ago
NEW YORK, July 17 (Reuters) - A New York state judge dismissed a lawsuit by a former JPMorgan Chase banker who in graphic terms said his former supervisor coerced him into sex and demanded his submissiveness, though the lawsuit is expected to be refiled in federal court.
Chirayu Rana, the former banker, will pay some legal fees of JPMorgan and his onetime colleague Lorna Hajdini as a condition of the dismissal, Justice Dakota Ramseur wrote on Thursday.
The dismissal, which Rana had requested, does not affect Hajdini's defamation countersuit against him. Her lawsuit remains in the state court in Manhattan.
Rana, who was a vice president in leveraged finance, accused Hajdini of using her seniority to coerce him into non-consensual ****** ual activity over several months.
The complaint said Hajdini used racially derogatory language to threaten Rana, who is of Asian descent. It also said she raped and drugged him, claimed she "owned" him, and threatened to sabotage his career if he didn't fulfill her ****** ual demands.
Chirayu Rana, the former banker, will pay some legal fees of JPMorgan and his onetime colleague Lorna Hajdini as a condition of the dismissal, Justice Dakota Ramseur wrote on Thursday.
The dismissal, which Rana had requested, does not affect Hajdini's defamation countersuit against him. Her lawsuit remains in the state court in Manhattan.
Rana, who was a vice president in leveraged finance, accused Hajdini of using her seniority to coerce him into non-consensual ****** ual activity over several months.
The complaint said Hajdini used racially derogatory language to threaten Rana, who is of Asian descent. It also said she raped and drugged him, claimed she "owned" him, and threatened to sabotage his career if he didn't fulfill her ****** ual demands.
1 month ago
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(Bloomberg) -- It's not just Morgan Stanley's IPO bankers that are benefiting from the frenzy of companies going public in recent weeks.
The bank hauled in $148 billion of net new ****** ets in its wealth-management business in the second quarter, over half of which were tied to IPOs, according to a statement Wednesday.
SpaceX's record-breaking listing earlier this year proved to be a field day for Morgan Stanley and its Wall Street peers that helped take it public. Elon Musk's ****** e and artificial-intelligence conglomerate agreed to pay dealmakers a $500 million fee for the offering, or about 0.67% of the $75 billion IPO haul. Even at that paltry rate, it's still one of the biggest fee-paying events on Wall Street of all time.
As the lead banks, Goldman Sachs Group Inc. and Morgan Stanley took home the biggest share of that fee pool, notching roughly $100 million each.
(Bloomberg) -- It's not just Morgan Stanley's IPO bankers that are benefiting from the frenzy of companies going public in recent weeks.
The bank hauled in $148 billion of net new ****** ets in its wealth-management business in the second quarter, over half of which were tied to IPOs, according to a statement Wednesday.
SpaceX's record-breaking listing earlier this year proved to be a field day for Morgan Stanley and its Wall Street peers that helped take it public. Elon Musk's ****** e and artificial-intelligence conglomerate agreed to pay dealmakers a $500 million fee for the offering, or about 0.67% of the $75 billion IPO haul. Even at that paltry rate, it's still one of the biggest fee-paying events on Wall Street of all time.
As the lead banks, Goldman Sachs Group Inc. and Morgan Stanley took home the biggest share of that fee pool, notching roughly $100 million each.
