Based in Australia, the firm has also expressed scepticism towards the demo trading models commonly adopted by proprietary firms, contrasting them with Axi Select's approach of providing live trading opportunities to its clients. Greg Rubin, Head of Axi Select, commented on the situation, stating, "This could mark the start of a decline for the demo…
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The dialogues, as recounted by two bank executives, a legal expert, and an industry informant, focused on evaluating the banks' liquidity positions and examining if there were any notable shifts in deposit flows or customer concerns. Despite these inquiries, the bank leaders reported no significant anomalies in their operations, with one indicating that the interactions…
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Capital One's strategic acquisition of Discover's payments processing and settlement services network is seen as a move to diversify its payment processing partners, aiming for a $1.2 billion boost by 2027. This development has been viewed unfavourably for Visa and Mastercard, with their shares dropping 1.8% and over 2%, respectively, as analysts anticipate a competitive…
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The bank's shares saw a notable increase of 2.17% to 3.7530 euros in early trading at 0857 GMT, despite a year-to-date decline of 4.68% as of February 16. Santander outlined that the maximum share purchase price would be capped at 4.76 euros, and based on an assumed average price of 3.95 euros, it could acquire…
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It was influenced by diminishing inflation and the anticipation of the Federal Reserve reducing interest rates within the year. On a recent Friday, Goldman Sachs predicted an 8% rise in profits for S&P 500 firms, driven by a more optimistic outlook for the U.S. economy and enhanced profit margins among the largest corporations. David Kostin,…
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The latter half of 2023 saw a surge in investor interest in major cryptocurrency tokens, spurred by expectations of the U.S. Securities and Exchange Commission's (SEC) approval of spot bitcoin ETFs. This anticipation contributed to a 57% increase in bitcoin's price in the fourth quarter, which enhanced Coinbase's trading fee revenue. Despite concerns that the…
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Dave Howson, Cboe Global Markets' Executive Vice President and Global President, highlighted the importance of this initiative, stating, "The introduction of iShares ETFs to Cboe Australia marks a pivotal achievement in realising Cboe's vision for global listings. Cboe stands out as the only exchange network offering asset managers a streamlined avenue for listing their products…
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Under this innovative program, Bank of America's extensive customer base of 45 million cardholders now has the opportunity to earn 2% cash back on their Starbucks purchases. Cardholders must link their Bank of America accounts with their Starbucks Rewards accounts to avail of this benefit. Furthermore, the program is designed to reward customers more generously…
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Societe Generale, with advisory services from Rothschild & Co, has initiated seeking potential buyers through an auction for Kleinwort Hambros, as mentioned by two sources. The French banking conglomerate is also preparing to divest its private banking operations in Switzerland, aligning with its strategy to streamline its business portfolio, the sources added. Kleinwort Hambros, which…
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They emphasise that any potential policy relaxation remains more distant than market participants anticipate. Current market expectations have adjusted to anticipate 113 basis points in rate reductions this year, a decrease from previously anticipated 150 basis points, with the initial adjustment forecasted for either April or June. Speaking at a conference in Split, Croatia, de…
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