Bank of America Corporation and JP Morgan Chase & Co. opened higher on Wednesday in tandem with the S&P 500, but selling pressure entered just after 9:35 a.m., when Newsweek released an exclusive report stating a full-scale Russian invasion of Ukraine was likely within 48 hours. Both stocks have been trading in a downtrend since Feb….
Chart Wars: Will Bank of America or JPMorgan Soar Higher on a Break of This Key Pattern?
February 24, 2022
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Man Pleads Guilty to Charges in Missouri 4-Year-Old’s Death
WARSAW, Mo.—A man accused of participating in the killing of a 4-year-old Missouri girl in what law enforcement theorized was a religious act has pleaded guilty to second-degree murder. Ethan Mast, 36, entered the plea Tuesday, admitting to his role in the death of Jessica Mast, television station KYTV reported. The 4-year-old girl was found…
Why the Ukraine Conflict Will Augment This Sector’s Growth by 2–3 Percent: Analyst
The Ukrainian crisis is widely expected to have a modest negative impact on multinationals with exposure to the eastern European country. An analyst at Wedbush, meanwhile, sees the cybersecurity sector as a potential beneficiary of the adversity. Brace for More Cyberattacks Russian state-sponsored organizations could step up cybersecurity attacks on U.S. and European governments and…
EU’s Vestager Says Tech Giants May Prefer Fines to Compliance, Cites Apple
BRUSSELS—Some U.S. tech giants may prefer to pay a fine rather than comply with antitrust rules, the European Union’s antitrust chief said, and cited Apple’s fight with the Netherlands’ competition authority as an example. The Dutch Authority for Consumers and Markets (ACM) imposed a 5-million-euro ($5.7 million) fine on Apple on Monday, the fifth such…
Virgin Galactic Posts Smaller Loss Than Expected, Improves Cash Position
Space tourism company Virgin Galactic Holdings Inc on Tuesday posted a smaller-than-expected quarterly loss and said its cash position had improved, sending its shares 5 percent higher in extended trading. The company founded by billionaire Richard Branson held about $931 million in cash as of Dec. 31, compared with $679 million a year earlier. The…
Stellantis Beats Profit Target in First Year After Merger
MILAN—Stellantis made a fast start in its first year after the merger of Fiat Chrysler and Peugeot maker PSA, with the world’s No.4 carmaker reporting profitability and benefits from the combination both ahead of target. The group said on Wednesday the margin on its adjusted operating profit was 11.8 percent in 2021, above its target…
Gary Brooker, Frontman of Rock Band Procol Harum, Dies at 76
LONDON—Gary Brooker, the Procol Harum frontman who sang one of the 1960s’ most enduring hits, “A Whiter Shade of Pale,” has died. He was 76. The English rock band said Brooker died at his home on Saturday. He had been receiving treatment for cancer. A statement posted on the band’s official website said: “With the…
UPS Loses $2 Billion Euro Claim for EU Veto on TNT Bid
LUXEMBOURG—The world’s No. 1 logistics company, United Parcel Service Inc, on Wednesday lost its court fight for a record 1.74-billion euro ($2 billion) compensation claim from EU antitrust regulators for blocking its 2013 bid for Dutch rival TNT. A win for UPS could encourage other companies to take similar action though EU merger vetoes are…
Once Upon a Time in Moscow
Commentary Once in Moscow, before the downfall of the Soviet Union, I stood in the line to file past the alleged corpse of Lenin in his mausoleum in Red Square. Behind me was a man from Brooklyn. “This country is the hope of the world,” he said. He was an old-fashioned communist of a type…
New Russia Debt Sanctions to Have ‘Limited Implications’ for Bond Holders: JPMorgan
LONDON— JPMorgan’s emerging market strategists said on Wednesday that new U.S. sanctions on Russian sovereign debt announced this week were likely to have limited implications for the international investors that already hold them. They added that the new measures, which introduce restrictions on ‘secondary market’ trading of rouble and non-rouble-denominated debt issued after March 1,…
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