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News

15 Jul JPMorgan profit rises 16% on tax gain

Posted at 10:58h in News by KMFSLLP 0 Comments

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JPMorgan Chase & Co reported a 16% rise in quarterly profit as higher net interest income and a tax gain more than made up for lower activity at the bank's trading desks.

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15 Jul Burgeoning family offices manage $5.9 trln – Campden

Posted at 10:53h in News by KMFSLLP 0 Comments

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The number of family offices -- companies that manage portfolios for individual families -- has risen by 38% over the past two years worldwide, advisory group Campden Wealth said, with the firms overseeing assets valued at $5.9 trillion.

15 Jul UPDATE 1-GAM completes sale of bond funds linked to sacked director

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* Analysts says deal will help search for new CEO (rewrites, adding detail, analysts)

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15 Jul UPDATE 3-UK motor insurer Hastings warns of hit from discount rate change

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* Admiral, Direct Line say reserves based on 0% rate (Adds Direct Line comment)

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15 Jul London mayor blocks ‘Tulip’ viewing tower

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Sadiq Khan says quality of design is not good enough

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15 Jul Monte dei Paschi launches subordinated bond to shore up capital

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Italy's Banca Monte dei Paschi plans to pay a high price for a long-awaited subordinated bond needed to shore up its capital.

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15 Jul FOCUS-Wall Street finds blockchain hard to tame after early euphoria

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Two years ago Nasdaq Inc and Citigroup Inc announced a new blockchain system they said would make payments of private securities transactions more efficient. Nasdaq Chief Executive Adena Friedman called it "a milestone in the global financial sector."

15 Jul FOCUS- Abbott to hike production of lower-cost glucose monitors as diabetes soars

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Abbott Laboratories plans to ramp up manufacturing capacity for its lower-cost continuous glucose monitor, the FreeStyle Libre, by three to five times in the next few years, aiming to reach millions more patients worldwide, the company told Reuters.