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NEW YORK: JPMorgan Chase & Co on Tuesday set aside about $10.5 billion in reserves to cover a wave of potential defaults in the aftermath of the COVID-19 pandemic as the largest U.S. bank reported a smaller-than-expected 51% drop in second-quarter profit.
Testing times for kingdom’s transformation plan
This comes as coronavirus upends financial markets
MUMBAI: Indian stocks rose for a third day, while sovereign bonds and the rupee advanced, as investors monitored discussions around plans to restart business activities ahead of a scheduled ending of a lockdown in the world’s second-most populous country on Sunday.
The first five days of the market since the new Pakatan Harapan government took over has been exciting to say the least.
CRUDE oil prices may be on a steady recovery path but sentiment surrounding the local oil and gas (O&G) sector is still gloomy.
SHANGHAI: United Co. Rusal, the biggest aluminum producer outside China, flagged the prospect of debt defaults and “materially adverse” consequences for the company after the U.S. imposed sanctions on the firm and its billionaire owner Oleg Deripaska.
SHANGHAI: Bonds from China’s property developers face the biggest risk of default in the nation’s domestic debt market as the government’s funding curbs strain their finances, according to a survey of analysts and traders.
NEW YORK: Wall Street was little changed in muted trading on Thursday as tepid earnings reports from big banks failed to excite investors.