Business

JPMorgan Chase on opening bank branches: 200 down, 200 to go

JPMorgan Chase & Co is halfway through a campaign to open 400 new bank branches and is closing in on being the first U.S. bank to have a brick and mortar presence in every state except Alaska and Hawaii, a bank executive said on Wednesday. JPMorgan is already the largest American bank by assets, providing […]

Business

Oil hits over 1-year high on OPEC+ supply discipline, demand prospects

Oil prices surged on Wednesday, hitting their highest in more than a year from a decision by OPEC and allies to stick to the plan to gradually restore supply, along with the slow pace of nuclear talks between Iran and the United States. Brent rose $1.1, or 1.6%, to settle at $71.35 a barrel. It […]

Business

Dogecoin jumps on news of launch on Coinbase Pro

Dogecoin, a meme-based cryptocurrency popular among retail investors, surged on Wednesday, benefiting from news that digital asset exchange Coinbase will make the crypto unit available to its users on its trading platform. Coinbase said on Tuesday it will immediately accept inbound transfers of dogecoin Coinbase Pro, a trading venue for professional traders. Dogecoin rose 31% […]

Business

Stocks loiter around peaks as traders wait for data

Stocks chopped around record peaks on Tuesday, while the dollar was pinned near recent lows, as markets awaited U.S. jobs data and looked ahead to crucial central bank meetings in Europe and United States for guidance on the interest rates outlook. MSCI’s broadest index of Asia-Pacific shares outside Japan touched a three-month peak, before profit-taking […]

Business

Shares of retail favorite AMC nearly double, company woos investors with free popcorn

Shares of retail investor favorite AMC Entertainment Holdings Inc nearly doubled in price on Wednesday, extending a breathtaking rally and reinvigorating the meme stock phenomenon that has captivated investors. The theater chain operator’s shares closed up 95.2% at $62.55, a fresh record. At the close, AMC’s market value stood at $28.17 billion, more than ViacomCBS […]

Business

Wall St treads water ahead of key economic data; AMC soars

The S&P 500 was little changed on Wednesday ahead of key U.S. economic data due later in the week as investors weighed inflation concerns and a fresh surge in so-called “meme stocks.” The S&P 500 energy sector, the best-performing group this year, extended its rise this week, gaining 1.7% as oil prices pushed higher. The […]

Business

Exxon director calls activist campaign, ESG pressures a ‘tidal wave’

Exxon Mobil Corp Director Ursula Burns called environmental pressures and the successful activist campaign to gain board seats at the biggest U.S. oil producer a “tidal wave” in a speech on Wednesday. “The timing was perfect,” said Burns, who spoke at a Federal Reserve Bank of Dallas virtual event. Exxon shareholders elected three directors nominated […]