General News

JPMorgan broadens roles for sales executives, memo says Apr 30, 2024 11:45AM

(Reuters) - JPMorgan Chase has expanded the roles of some executives in its sales department, the bank said in an internal memo seen by Reuters on Tuesday.

Matthieu Wiltz will become the sole head of credit, securitized products group and public finance sales. He was previously the co-head of the business alongside Howard Rothberg, who is leaving after nearly 21 years at the bank.

Rothberg will transition responsibilities over the next... (continue reading...)

Midday movers: Eli Lilly, 3M, PayPal rise; Coca-Cola, Tesla fall Apr 30, 2024 11:26AM (Updated - April 30, 2024 11:26 AM EDT)

Investing.com -- Main U.S. indexes slipped lower Tuesday, amid caution ahead of the start of the latest Federal Reserve policy-setting meeting.

Here are some of the biggest U.S. stock movers today:

• Coca-Cola (NYSE: KO) stock fell 0.7% despite the beverage giant reporting quarterly earnings and revenue that beat expectations, and raising its full-year outlook for organic revenue. That said, sales in its important North American... (continue reading...)

Globe Life becomes target of second short seller this month Apr 30, 2024 11:15AM

(Reuters) - Viceroy Research revealed a short position against life insurer Globe Life on Tuesday, making it the target of a second short-seller attack within a month.

The short seller said it had conducted an extensive investigation of the company and its subsidiary American Income Life (AIL), and concluded that "fraudulent, dishonest, and misleading sales tactics are core to AIL's operations."

Globe Life did not immediately respond to... (continue reading...)

Citi CEO says US consumers are more cautious, emphasizes bank overhaul Apr 30, 2024 10:38AM

By Tatiana Bautzer

NEW YORK (Reuters) -Citigroup CEO Jane Fraser told shareholders on Tuesday that U.S. consumers are becoming more cautious with their spending and making smaller purchases.

U.S. borrowers earning lower incomes are increasingly struggling to keep up with loan payments, prompting banks to become more cautious about issuing credit cards and car loans.

"Consumers remain healthy and resilient," Fraser said at the... (continue reading...)

Citi says futures positioning suggests investors are not buying the S&P 500 dip Apr 30, 2024 10:32AM

Citi strategists said Tuesday that the latest rebound in equity markets was driven by the unwinding of profitable bearish positions rather than new investor inflows.

They argue that for the rally to be sustained, it must be underpinned by fresh bullish inflows, instead of de-risking flows.

According to Citi, U.S. markets experienced a sharper sell-off than European markets in early April and have only seen a partial recovery, leaving most long positions at a loss at... (continue reading...)