JPMorgan Chase & Co announced record-breaking Q2 earnings, driven by exceptional performance from its investment banking and equities trading divisions. The bank reported a net income of $18.1 billion. Excluding significant items, net income stood at $13.1 billion. Revenue for the...
Geopolitical tensions have overtaken inflation as the top concern for sovereign investors, according to a study. This shift is driving investors to diversify their portfolios, looking towards emerging markets and “safe haven” assets. The study by asset manager Invesco has...
Morgan Stanley’s second-quarter profit beat expectations, driven by a surge in investment banking and trading revenues that overcame muted results in wealth management. The bank joined other Wall Street lenders, including Bank of America and JPMorgan, in reporting higher investment...
Net income climbed to US$3.2 billion, in the three months ended June 30. Citi’s profit rose in the second quarter, boosted by a 60 per cent jump in investment banking revenue and gains in its services division, sending the bank’s...
The company's revenue for the quarter also exceeded expectations, coming in at $25.4 billion against the consensus estimate of $25.24 billion. Despite the positive results, net income fell to $6.9 billion from $7.4 billion in the same quarter last year,...
Long-term funds gained €24.5 billion in inflows in June, with equity funds capturing half, according Morningstar’s data. In the first half of 2024, long-term funds experienced €146.8 billion in net inflows. Morningstar’s asset flow commentary for Europe, covering June and...
Malaysia’s economic growth in the second quarter surpassed all estimates on broad-based gains from manufacturing to consumption, suggesting a recovery seen at the beginning of 2024 is gathering speed. Gross domestic product grew 5.8 percent in the April-June quarter from...
The adoption of the new sharia standard 62 could disrupt the sukuk market as soon as next year, according to top ratings agency S&P Global. The Accounting and Auditing Organization for Islamic Financial Institutions' sharia standard 62 could reduce issuance...
Tech advantages always prove short lived in the stock markets, report suggests. The global asset management industry will be able to wring a number of benefits from generative artificial intelligence (AI) — but beating the markets won’t be one of...
Top U.S. asset manager Vanguard favors high-rated corporate debt over riskier high-yield companies' bonds as it seeks protection against the possibility a sharper-than-anticipated U.S. economic downturn caused by high borrowing costs, it said in a report. After one year since...
