The market closed on a positive note this week as the NSE All-Share Index advanced from 22,110.91 to 22,741.06, a 285bps cumulative increase. · H1 results announced by some banks, during the week, spurred buying sentiments, leading to cumulative gains of 8.3% from Diamond Bank and 5.6% from UBA; […]
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Visa, MasterCard, banks in $7.25 billion retail settlement
By Jessica Dye Visa Inc, MasterCard Inc and banks that issue their credit cards have agreed to a $7.25 billion settlement with U.S. retailers in a lawsuit over the fixing of credit and debit card fees in what could be the largest antitrust settlement in U.S. history. The settlement, if […]
JPMorgan says bad trade has ballooned to $5.8B
JPMorgan Chase said Friday that a bad trade had cost the bank $5.8 billion this year, almost triple its original estimate, and raised the prospect that traders had improperly tried to conceal the blunder. “This has shaken our company to the core,” CEO Jamie Dimon said. The bank said managers […]
