NEWS
Featured News
Trending News
Sorry, no posts were found.
4 TIPS FOR BUILDING YOUR FIRST PORTFOLIO
Every investor begins their first portfolio nervous and not knowing very much. If you have a desire to learn the basics, however, and are committed to constantly improving your knowledge base, over time you will have a portfolio of stocks (and perhaps other financial instruments) that you are happy with and confident in. Below are four tips for building your first portfolio.
DEUTSCHE BANK REPORTS BEST QUARTER IN SEVEN YEARS
Deutsche Bank on Wednesday posted a pre-tax profit of €908 million for the first three months of 2020 – its best quarterly performance in seven years, and a notable increase on its profit of just €66 million for the same period in 2020.
Profits rose across all of the bank’s core divisions, though its investment banking arm performed most strongly with a 134% rise in pre-tax profits to €1.5 billion. Revenue across the bank grew 14% to €7.2 billion, its highest total since 2017.
3 REASONS YOUR BUSINESS NEEDS OVERDRAFT PROTECTION
Suppose you wrote a check to a material supplier last week, and unfortunately, the accountant was out sick that day. Meanwhile, you forgot about the check, using your business checking account to make your everyday transactions. The check clears weeks later, and now you are hit with a hefty fee.
With overdraft protection, you could have avoided this hassle, and such a simple mistake wouldn’t have to derail your business operations.
CREDIT SUISSE POSTS ‘UNACCEPTABLE’ ARCHEGOS LOSS
Credit Suisse on Thursday reported a net loss of 252 million Swiss francs ($275 million) for the first quarter following the implosion of US-based hedge fund Archegos Capital.
The bank reported that the loss reflected a “significant charge with respect to the US-based hedge fund matter in 1Q21 (first quarter), offsetting positive performance across wealth management and investment banking.”
In response, the bank raised roughly $2 billion to bolster its capital position. To do this, it sold mandatory convertible notes to “a selected group of core shareholders, institutional investors and ultra-high-net-worth individuals.”
FINANCIAL SERVICES SHIFT £1 TRILLION IN ASSETS TO EU
UK banks and insurers have shifted thousands of jobs and over £1 trillion in combined assets out of the UK and into European Union hubs due to the impact of Brexit, a new study has confirmed.
According to research from think tank New Financial, more than 440 firms in the UK banking and financial services sector have relocate parts of their business, moved staff or established new EU entities in response to Brexit.
Roughly £900 billion of the relocated assets were moved by banks – equivalent to about 10% of the total assets held by the UK banking system. Insurance firms and asset managers shifted a further £100 billion.
CHINA’S ECONOMY POSTS RECORD 18.3% QUARTERLY GROWTH
China’s economy grew a record 18.3% in the first quarter of 2021 compared to the same period in 2020, new data has shown. Growth was also up from 6.5% in the fourth quarter of 2020.
The results mark the biggest jump in Chinese GDP since quarterly records began in 1992. However, the economy’s growth fell short of the 19% mark predicted by a Reuters poll of analysts.
JPMORGAN PLEDGES $2.5 TRILLION TOWARDS CLIMATE ACTION
JPMorgan Chase & Co said on Thursday that it will commit $2.5 trillion towards sustainability and development initiatives over the next decade.
$1 trillion of the pledged funding has been earmarked solely for investment in green projects, including renewable energy and clean technologies.
The $2.5 trillion target for investment, which begins in 2021 and will run through to the end of 2030, will also be concerned with facilitating transactions to support socioeconomic progress in developing nations.
BITCOIN HITS $62,000 HIGH AHEAD OF COINBASE IPO
The value of Bitcoin hit a record $62,741 in early Tuesday trading, a surge of more than 4% in the past 24 hours.
This latest extension of the cryptocurrency’s 2021 rally comes one day ahead of the initial public offering of Coinbase, which is set to list on the Nasdaq index on 14 April.
Coinbase is the largest dedicated cryptocurrency trading platform in the US, with around 50 cryptocurrencies listed for exchange. It recently revealed that the number of active users on its platform reached 6.1 million, up from 2.8 million in the fourth quarter of 2020.