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Banking

“JPMorgan’s $290 million settlement with Epstein accusers wins approval by U.S. judge”

“A U.S. judge on Thursday approved JPMorgan Chase’s $290 million settlement with women who said Jeffrey Epstein abused them, and that the largest U.S. bank turned a blind eye to the late financier’s sex trafficking. U.S. District Judge Jed Rakoff granted final… Continue Reading…

Banking

“Fed reverse repos fall under $1 trillion for first time since August 2021”

“The Federal Reserve’s efforts to drain liquidity from the financial system have finally pushed inflows into a critical central bank tool below the $1 trillion mark for the first time since late summer 2021. Cash from money market funds and… Continue Reading…

Energy

“JPMorgan forecasts energy “supercycle” with Brent crude potentially hitting $150 per barrel”

“In a research report published on Friday, JPMorgan analyst Christyan Malek upgraded the entire global energy sector to an overweight rating, warning that the recent surge in oil prices could potentially drive Brent crude prices as high as $150 a… Continue Reading…

Business, Energy

“Ford will postpone about $12 billion in EV investment as buyers become more cautious”

“Ford Motor said Thursday that many customers in North America are no longer willing to pay a premium for an electric vehicle over an internal-combustion or hybrid alternative. As a result, it’s postponing about $12 billion in planned spending on new… Continue Reading…

Business

“Swiss pharma giant Roche agrees $7.1 billion deal to buy Telavant Holdings”

“Swiss health care company Roche on Monday announced it would acquire Telavant Holdings in a $7.1 billion transaction. Telavant produces drugs for people suffering from inflammatory and fibrotic diseases and is in the process of developing a “promising new therapy”… Continue Reading…

Business

“Businesses are returning $140 million in surprise overdraft fees to consumers, according to a CFPB report”

“The nation’s federal consumer protection watchdog announced Wednesday that companies will refund $140 million to customers as a result of its work to uncover illegal so-called junk fees…. Nearly two-thirds of banks with more than $10 billion in assets have also eliminated NSF fees,… Continue Reading…

Energy

“Exxon sees $16 billion in earnings for fuels, chemicals by 2027”

“Exxon Mobil Corp expects its motor fuels and chemicals earnings to reach $16 billion by 2027, up about $4 billion from current levels as demand continues to rise, executives said on Wednesday. The largest U.S. oil company has been generating… Continue Reading…

Business, Stocks

“Cisco To Acquire Software Maker Splunk In $28 Billion Cash Deal”

“Cisco Systems (CSCO) on Thursday said it will acquire software company Splunk (SPLK) for $28 billion in cash. Splunk shares surged on the news but CSCO stock fell. Cisco will buy Splunk for $157 per share, a 31% premium to the software firm’s… Continue Reading…

Business, Economy

“Shrink and theft losses near $1 billion at Lowe’s — here’s how much they’re costing other retailers”

“Generally, the inventory losses are only a small fraction of the retailers’ net sales. They also pale in comparison to other factors squeezing margins, such as excessive discounting and promotions, according to a CNBC analysis of their balance sheets. While… Continue Reading…