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The private credit market is under renewed pressure after a series of setbacks this week rattled investors. The trouble started when JPMorgan CEO Jamie Dimon warned that the sector may be hiding more risk than it appears. He used the “cockroach” analogy — meaning if one problem shows up, more could soon follow. The comment…
Secure Trust Bank has increased its provision for a potential penalty related to a UK motor finance mis-selling investigation. The bank added £28 million to its reserves, bringing the total provision on this issue to £44 million. The Financial Conduct Authority (FCA) is currently reviewing historic car finance commission deals. Regulators are checking if lenders…
Wall Street saw a surge in profits during the third quarter thanks to a booming prime brokerage business. Major banks lent cash and securities to hedge funds executing large trades. JPMorgan, Morgan Stanley, Bank of America, Goldman Sachs, and Citigroup all reported strong results. JPMorgan’s equity market revenue rose 33%, and Morgan Stanley’s equities revenue…
JPMorgan has stepped up its investments in quantum computing, sending related stocks rallying. The move forms part of a broader push into frontier technologies like AI, clean energy, and advanced materials. Analysts estimate JPMorgan could direct billions of dollars toward quantum projects over the next few years. The bank sees quantum computing as a key…
Goldman Sachs has agreed to acquire Industry Ventures, a San Francisco–based venture capital firm managing about $7 billion in assets, in a deal valued at $965 million. The transaction includes $665 million in cash and equity at closing, plus up to $300 million in future performance-based payments through 2030. The deal strengthens Goldman’s foothold in…
