J.P. Morgan’s Acquisition of First Republic Deposits Marks Second Largest Bank Failure in US History
J.P. Morgan has acquired the majority of assets and certain liabilities of failed First Republic Bank, the third major financial institution to collapse in 2023. The deal includes around $173 billion of loans and approximately $30 billion of securities. J.P. Morgan expects to recognize an upfront, one-time, post-tax gain of around $2.6 billion and $500 million of incremental net income per year. All depositors of First Republic Bank will become depositors of J.P. Morgan, and they have full access to their deposits.
XAU/USD Clings to Gains above $1,860, Focus Remains on US CPI Report
The gold price is in the midst of a resurgence after falling to its lowest level in over a month. The XAU/USD has clung to its gains above $1,860, a nearly 0.50% increase for the day. The upward momentum is likely due to a weaker US dollar and fears of a recession that have made […]
INVESTORS’ HOPES ARE IN BLOOM AS A SEASON OF GROWTH ARRIVES
The U.S. economy is growing at about a 6% annual rate, after adjustments, in the current quarter, according to the tracking models of the Federal Reserve Bank of New York. And that comes after robust payroll gains in March of over 900,000 reported on Good Friday, and booming auto sales in the first quarter, despite […]
POWELL CALLS FOR FASTER GLOBAL VACCINATION
The sluggish progress of Covid-19 vaccination outside the U.S. is a key threat to the economic outlook, Federal Reserve Chairman Jerome Powell said Thursday, echoing calls to address the widening disparity between rich and poor nations. While the U.S. is on track to vaccinate three-fourths of its population by late June and other wealthy countries […]
RBA: REGULATORY AUTHORITIES ARE WATCHING HOUSE-PRICE GROWTH CAREFULLY
SYDNEY–The Reserve Bank of Australia said Friday that it was alert to a sharp surge in house-price growth in recent months, adding that regulators are watching the situation closely. The central bank’s latest report card on financial stability said that with interest rates low around the world, “risks associated with asset prices and debt could […]
-$146 Profit Loss FOREX Trading Live Account
What can you say about Forex Trading, Easy or Difficult? Para sa akin, ang Forex Trading ay medyo complicated lalo na sa mga nag-uumpisa pa lang. Pero habang tumatagal lalo na kung talagang pina-practice mo ang skill ng Trading tapos detemined ka pa to learn siguro hindi naman talaga mahirap lalo na kung may mentor […]