KPMG: global mergers and acquisitions may reach a record $6 trillion this year
KPMG said on Monday that global mergers and acquisitions were expected to reach a record $6tn by the end of the year as companies continue to use cheap financing and the economy recovers from the epidemic. Global M & A deals have exceeded $4.3 trillion so far this year, close to the full-year record of $4.8 trillion set in 2015, according to Refinitiv. This figure is up sharply from $3.6 trillion in 2020. Stephen Bates, partner of KPMG and head of trading in Singapore, said that given the pre-epidemic fund-raising activities "
Money market economic concerns have been short-lived, and now the Federal Reserve Vice Chairman's hawkish remarks reinforce expectations of interest rate hikes in early 2023
Money market concerns on Wednesday that a weaker than expected economy could delay the Fed's tightening of monetary policy proved to be short-lived, as the hawkish remarks of Federal Reserve Vice Chairman Richard Clarida helped solidify market expectations for the first rate hike in early 2023. The ADP employment data released at around 8:15 a.m. in New York time fell short of expectations and once showed that the first 25 basis point rate hike by the Federal Reserve would occur around June 2023. But this trend quickly receded because Clarida said, “The necessary conditions for raising the federal funds rate target range will be
Dimon expects he will be in charge of J.P. Morgan for another five years, but it is unlikely to be ten years
Jamie Dimon said that it is unlikely that he will still be leading J.P. Morgan in 10 years, but it is possible that he will stay for another 5 years. “I'm not going to play golf or go to the garden to enjoy the flowers,” Dimon said in an interview broadcast on Fox Business on Wednesday. The board of directors of J.P. Morgan Chase gave the billionaire CEO a special gift last month so that he can remain in office for “many years.” Whenever asked, 65-year-old Dimon always jokes that he will retire in 5 years. In this wide-ranging interview, Dimon also reiterated his predictions that the US economy will prosper. “Everyone is ready, confidence is rising, people
The number of second-hand housing contracts in the United States has dropped unexpectedly due to record house prices.
The index of second-hand housing contracts in the United States fell in June, suggesting that high house prices and limited supply are hitting potential buyers. Data released on Thursday showed that the National Association of Realtors' index of second-hand housing contracts fell 1.9% in June from a month earlier. Economists surveyed by the media expect the median to be flat. The small number of listed properties and soaring asking prices continue to pose a challenge to potential buyers, according to the report. At the same time, the index is still above pre-pandemic levels, indicating that underlying demand remains strong. "the mild slowdown is mainly due to a sharp rise in house prices," said Lawrence, chief economist of the National Association of Realtors.
Logitech's operating profit doubled in the first quarter and the demand for home office continued to rise.
Logitech, a computer peripherals maker, said on Tuesday that operating profit and sales grew strongly in the first quarter of fiscal 2022, thanks to rising demand for home-based offices. The company's non-GAAP operating profit doubled to $235 million in the fiscal first quarter to the end of June. Sales rose 66% to $1.31 billion from $792 million a year earlier. Trends such as working from home and the rise of online games continue to drive Logitech's performance, allowing the company's sales to grow further from the high base driven by last year's epidemic. The unprecedented surge in demand prompted Logitech to improve its performance index five times.
Oil prices rose to their highest level since 2018 due to falling inventories and the steady cancellation of epidemic prevention and control measures
Oil prices have risen to the highest level since 2018. Previously released data showed a decline in US crude oil inventories, further proof that the market is tightening as the economy restarts, and some well-known traders predict that oil prices will continue to rise. Following a 1.8% increase on Tuesday, West Texas Intermediate rose 0.5% in early Asian trading. The American Petroleum Institute reported that U.S. crude oil inventories fell by 8.54 million barrels last week. If confirmed by government data released late Wednesday, this would be the biggest drop in inventories since January. However, gasoline and distillate stocks increased. Oil prices have resumed their upward trend this month. With the help of the COVID-19 vaccine program
Citigroup joins JPMorgan Chase to warn that trading revenue will fall more than expected
Citigroup shares closed lower on Tuesday as Wall Street braced for the loss of momentum from the epidemic-driven boom, Mark Mason, the company's chief financial officer, hinted that the bank's trading revenue could fall about 30 per cent from a year earlier. Mason said at a Morgan Stanley video conference on Tuesday that second-quarter revenue from trading was likely to fall by just over 30 per cent. 'This is a bigger drop than expected by analysts surveyed by Bloomberg, and investment banking fees are likely to fall in the middle and high single digits,'he said. Mason said the quarter was "very different from what it was a year ago", noting that the strong trend in the company's stock trading business would be the fixed income division.
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