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J.P. Morgan Asset Management is restructuring its alternatives business to enhance its competitive edge in private markets, led by executives with extensive experience. With $400 billion in alternative assets, the firm aims to better serve wealthy individual investors and family offices through tailored products, including evergreen funds and co-investment opportunities. This strategic shift reflects a commitment to active management and leveraging its private banking history to meet growing demand in the private credit and equity sectors.
Elite Pharmaceuticals, Inc. has announced its financial results for the first quarter of fiscal year 2025, which ended on June 30, 2024. The company also provided details regarding an upcoming conference call to discuss these results further.
A group of campaigners is urging the U.S. Department of Labor to revoke UBS's exemption allowing it to operate in the American pension market, citing the bank's history of nearly 100 offenses and $20 billion in penalties since 2000. UBS, which has submitted a 500-page application to extend its exemption, argues that issues stem from individual staff actions. Recent legal troubles include a significant fine in France for tax evasion and involvement in an antitrust lawsuit related to interest rate swaps.
16:41 14.10.2024
US stocks surged on Monday, with the Dow and S&P 500 reaching record highs, driven by a nearly 3% rise in Nvidia shares. The S&P 500 closed above 5,800 for the first time, while Bitcoin and Ethereum also saw significant gains. As earnings season unfolds, investor focus remains on major banks and potential Federal Reserve interest rate decisions.
15:30 14.10.2024
Wells Fargo shares surged over 5% following better-than-expected third-quarter results, with adjusted earnings per share at $1.42, surpassing expectations. The bank's positive outlook on the US economy, despite some consumer tension, signals potential for further stock growth, especially if it breaks resistance at $61.
IG
15:11 14.10.2024
Elon Musk's ambitious plans for Tesla contrast sharply with the current performance of its shares, which face significant resistance at the 50.0% Fibonacci retracement level of USD 259.02. Analysts remain skeptical, with a majority holding neutral or negative views, and the average target price suggesting the stock is overvalued by about 4%. However, a historically strong seasonal trend from late October to late November could provide a potential boost, as Tesla shares have risen by an average of 12.6% during this period over the past decade.
IG
14:48 14.10.2024
Kraken and Bitcoin.de are two prominent cryptocurrency platforms, each with distinct features. Bitcoin.de, a German marketplace, offers a user-friendly experience with no deposit fees, while Kraken, an international exchange, provides a wider selection of over 200 cryptocurrencies and robust security measures. Both platforms cater to different user needs, with Bitcoin.de being suitable for beginners and Kraken appealing to more experienced traders.
14:48 14.10.2024
UBS is facing challenges in renewing its exemption to manage U.S. pension funds due to scrutiny from tax activists, who allege the bank's structures facilitate criminal behavior. The bank has a history of significant fines, totaling around $20 billion for nearly 100 offenses since 2000, raising concerns about accountability. Following its acquisition of Credit Suisse, UBS has inherited ongoing legal issues, including a notable criminal conviction against Credit Suisse for organizational deficiencies.
14:45 14.10.2024
The DAX is nearing record highs as the ECB meeting and US earnings season approach. Key events include the ZEW index release, with expectations of an increase, and potential ECB rate cuts. US retail sales and unemployment claims will also be closely monitored, alongside significant data from China and major US bank earnings reports.
IG
14:18 14.10.2024
The FDA has temporarily halted a lawsuit regarding the removal of Eli Lilly’s Zepbound and Mounjaro from its shortage list, agreeing to reassess the situation amid strong demand for GLP-1 medications. Compounded versions of tirzepatide can continue to be sold while negotiations with the Outsourcing Facilities Association proceed. The FDA previously declared that manufacturing capacity now meets national demand, but the OFA argues this decision violated federal law by not following proper procedures.
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