JPMorgan’s Dimon warns of possible $1 billion Russia loss

Dimon concerned about secondary impact of Ukraine conflict Dimon calls for increased US military presence in Europe Dimon urges revamp of US supply chain Fed rate hikes could be higher than market expectations -Dimon NEW YORK, April 4 (Reuters) – JPMorgan (JPM.N) could lose about $1 billion on its Russia exposure, Chief Executive Jamie Dimon … Read more

Cryptoverse: Buoyant bitcoin helps market cruise past $2 trillion

Representations of virtual currency Bitcoin are seen in this picture illustration taken taken March 13, 2020. REUTERS/Dado Ruvic/Illustration Register now for FREE unlimited access to Reuters.com Register March 29 (Reuters) – As a bleak first quarter draws to a close, crypto seems to have the wind in its sails. It has pushed through the $2 … Read more

Barclays hit by $590 million loss on product sales blunder

The logo of Barclays bank is seen on glass lamps outside of a branch of the bank in the City of London financial district in London September 4, 2017. REUTERS/Toby Melville Register now for FREE unlimited access to Reuters.com Register LONDON, March 28 (Reuters) – British bank Barclays (BARC.L) disclosed on Monday an estimated 450 … Read more

EXCLUSIVE Clients plead with top custodian banks to stay in Russia

Banks face mounting pressure to commit to custody roles Banks say they will meet existing client obligations Some clients afraid exits will follow as costs soar LONDON/NEW YORK, March 23 (Reuters) – Global banks including Citigroup Inc (CN), JPMorgan Chase & Co (JPM.N) and Societe Generale (SOGN.PA) face pressure to commit to remaining as custodian … Read more

Foreigners banned from selling Russian stocks as market set for limited reopening

March 23 (Reuters) – Russia plans to resume some stock trading on Thursday after a near month-long hiatus, with 33 ruble securities to be traded on the Moscow Exchange. Non-residents will have to wait, though – they will be barred from selling stocks and OFZ ruble bonds until April 1. Trading in blue chips, including … Read more

Tesla rolls out first vehicles as German gigafactory goes live

BERLIN, March 22 (Reuters) – Tesla will on Tuesday deliver to customers the first 30 Model Y cars made at its 5 billion euro ($5.5 billion) Gruenheide plant, launching its first European production hub that is the biggest investment in a German car factory in recent history. Chief Executive Elon Musk arrived in Berlin on … Read more

US SEC proposes companies disclose range of climate risks, emissions data

WASHINGTON, March 21 (Reuters) – The US securities regulator on Monday proposed requiring US-listed companies to disclose a range of climate-related risks and greenhouse gas emissions, part of President Joe Biden’s push to join global efforts to avert climate-related catastrophes . The US Securities and Exchange Commission (SEC) unveiled its long-anticipated draft rule under which … Read more

Uniqlo owner stays put in Russia as Levi, AMEX and others sever ties

Uniqlo’s Russian stores to stay open Danone suspends investments in country KPMG, PwC, EY, Deloitte all cut ties with local units American Express calls Ukraine attack ‘unjustified’ March 7 (Reuters) – Uniqlo owner Fast Retailing (9983.T) will keep its stores in Russia open, joining a small group of international firms that are staying put even … Read more