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Kamis, 06 September 2018

JPMorgan has established a blueprint for the next big market crash — and warns it could create the biggest social conflict in 50 years

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September 06, 2018

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JPMorgan has established a blueprint for the next big market crash 

An idealistic follower of financial markets might tell you that we learned our lesson following the crisis that rocked the globe a decade ago.

Banking regulations were ramped up to prevent the type of risky behavior that doomed markets, and investors have repeatedly been warned to check their euphoria this time around.

But a new report from JPMorgan suggests that — despite our best efforts — we're hurtling toward a similarly painful reckoning.

Citigroup just announced an overhaul of its investment bank — and there's a big reshuffling at the top

Citigroup on Thursday announced a restructuring of its investment banking operations as it seeks to grab more wallet share in one of Wall Street's most high-profile businesses. 

The firm is combining its corporate and investment bank with capital markets origination, a move that will involve the reshuffling of key senior executives, according to people familiar with the matter. 

Citi's new-look investment bank will be co-headed by Tyler Dickson, 51, currently the global head of capital markets origination, and Manolo Falco, 54, head of Citi's corporate and investment bank in Europe, the Middle East, and Africa. 

Coinbase, the cryptocurrency exchange operator, is looking into getting a crypto ETF off the ground, and it has sought help from $6 trillion asset manager BlackRock.

Coinbase is known for its wide-ranging business model, covering asset-management, venture capital, trading, custody, and brokerage. It's now looking to create an exchange-traded product tied to crypto, according to people familiar with the matter, as a way to allow retail investors to gain access to the volatile crypto markets.

Coinbase in recent weeks has held conversations with individuals from BlackRock's blockchain working group to tap into the firm's expertise at launching exchange-traded products, the people said. BlackRock, an early pioneer of the ETF market, is well-known for its iShares division.

Uber just launched Uber cash 

Yesterday, Uber launched Uber Cash, a service that allows customers to add funds to a stored-value account that they can use to pay for Uber services, like Uber Eats. Uber Cash offers users a 5% discount and incentives to use the account: spending $95 gets the customer $100 and $48.50 gets them $50, for example.

And the new service also enables users to store Uber gift cards as well as other Uber rewards and redemptions, which they can use to load value into their Uber Cash accounts. 

In markets news

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