Dan Frumkin’s pay deal comes after bank’s near collapse and rescue by Colombian billionaire Business live – latest updates Metro Bank’s chief executive has been handed a £2.6m pay packet – the largest in its history – a year after slashing 1,000 jobs in response to the lender’s near collapse . The figure is more than double the £1.2m Dan Frumkin was paid in 2024. Metro pushed through the pay bump ...
Dan Frumkin’s pay deal comes after bank’s near collapse and rescue by Colombian billionaire Business live – latest updates Metro Bank’s chief executive has been handed a £2.6m pay packet – the largest in its history – a year after slashing 1,000 jobs in response to the lender’s near collapse . The figure is more than double the £1.2m Dan Frumkin was paid in 2024. Metro pushed through the pay bump and complex bonus scheme for the former RBS and Northern Rock banker at a shareholder meeting last year. Continue reading...
Looking at units outstanding versus one week prior within the universe of ETFs covered at ETF Channel, the biggest outflow was seen in the WisdomTree Bloomberg Floating Rate Treasury Fund, where 12,110,000 units were destroyed, or a 3.4% decrease week over week. And on a perc
Looking at units outstanding versus one week prior within the universe of ETFs covered at ETF Channel, the biggest outflow was seen in the WisdomTree Bloomberg Floating Rate Treasury Fund, where 12,110,000 units were destroyed, or a 3.4% decrease week over week. And on a perc
Comparing units outstanding versus one week ago at the coverage universe of ETFs at ETF Channel, the biggest inflow was seen in the Schwab US Dividend Equity ETF, which added 30,800,000 units, or a 1.1% increase week over week. Among the largest underlying components of SCHD,
Comparing units outstanding versus one week ago at the coverage universe of ETFs at ETF Channel, the biggest inflow was seen in the Schwab US Dividend Equity ETF, which added 30,800,000 units, or a 1.1% increase week over week. Among the largest underlying components of SCHD,
In early trading on Thursday, shares of J.B. Hunt Transport Services topped the list of the day's best performing components of the S&P 500 index, trading up 6.1%. Year to date, J.B. Hunt Transport Services, registers a 22.4% gain. And the worst performing S&P 500 comp
In early trading on Thursday, shares of J.B. Hunt Transport Services topped the list of the day's best performing components of the S&P 500 index, trading up 6.1%. Year to date, J.B. Hunt Transport Services, registers a 22.4% gain. And the worst performing S&P 500 comp
Shares of brokerage firm Charles Schwab (NYSE: SCHW) are down Thursday following this morning's release of its first-quarter numbers. Although sales and net income were both well up year over year thanks to an increase in total trading activity, a couple of key fiscal measures missed estimates. Investors chose to see the proverbial glass as half-empty rather than half-full. Some -- or even all -- ...
Shares of brokerage firm Charles Schwab (NYSE: SCHW) are down Thursday following this morning's release of its first-quarter numbers. Although sales and net income were both well up year over year thanks to an increase in total trading activity, a couple of key fiscal measures missed estimates. Investors chose to see the proverbial glass as half-empty rather than half-full. Some -- or even all -- of today's sell-off, however, may be quietly attributable to something other than the company's Q1 earnings. Charles Schwab turned record-breaking revenue of nearly $6.5 billion into a per-share profit of $1.43 during the three months ending in March, up 16% and 38% from year-ago comparisons of $5.6 billion and $1.04 (respectively), boosted largely by a 34% year over year increase in total trading volume. The company also added $140 billion in net new assets, pushing its total asset base up 19% to almost $11.8 trillion. Continue reading
Critics say efforts to rescue the animal, nicknamed Tommy, unlikely to succeed and could lead to further harm A last-ditch effort to rescue a wayward whale that has transfixed Germans for weeks has begun in the Baltic Sea despite criticism it has little chance of success and could further harm the 12-tonne creature. The male humpback whale was first spotted last month near Timmendorfer Strand on t...
Critics say efforts to rescue the animal, nicknamed Tommy, unlikely to succeed and could lead to further harm A last-ditch effort to rescue a wayward whale that has transfixed Germans for weeks has begun in the Baltic Sea despite criticism it has little chance of success and could further harm the 12-tonne creature. The male humpback whale was first spotted last month near Timmendorfer Strand on the northern coast of Germany, giving rise to its nickname Timmy. It has repeatedly become stranded and then freed itself after human assistance but it is now stranded again, with rescuers saying it is fighting a losing battle for its life. Continue reading...
peterschreiber.media/iStock via Getty Images Networking names Corning ( GLW ) and Fabrinet ( FN ) were both downgraded to Neutral from Overweight by J.P. Morgan. However, the financial firm increased its price targets, bumping up Corning to $175 from $115 and Fabrinet to $700 from $530. Both stocks were down during Thursday market trading. J.P. Morgan downgraded Corning mainly due to its high valu...
peterschreiber.media/iStock via Getty Images Networking names Corning ( GLW ) and Fabrinet ( FN ) were both downgraded to Neutral from Overweight by J.P. Morgan. However, the financial firm increased its price targets, bumping up Corning to $175 from $115 and Fabrinet to $700 from $530. Both stocks were down during Thursday market trading. J.P. Morgan downgraded Corning mainly due to its high valuation. "In our view, this valuation creates a challenging execution hurdle relative to the earnings expectations now being embedded by the buyside to justify such a lofty premium," said J.P. Morgan analysts, led by Samik Chatterjee, in a detailed investor report. "We believe investors are increasingly shifting to CY28 outlooks and embedding somewhat blue-sky scenarios for both optical fiber cable/connector pricing and the scale-up opportunity, among other variables, which leaves little margin for error on risks such as on capacity and the linearity of optical scale-up adoption, not to mention the remaining ~60% of the business tied to non-optical markets." Despite the downgrade, J.P. Morgan increased its revenue estimates on Corning. It raised its full-year 2026 estimate to $19B from $18.6B and its 2027 estimate to $21.7B from $20.9B. It introduced a 2028 estimate of $25.1B. Meanwhile, Fabrinet's downgrade was related in part to near-term customer ramps “trending choppier” and limited visibility into upcoming ramps with new customers. "We expect the culmination of these factors to drive more limited near-term upside in the shares than the buyside is embedding, despite our overall positive bias toward the company's long-term trajectory, particularly as reflected in the manufacturing footprint expansion currently being undertaken," Chatterjee noted. Still, J.P. Morgan increased its revenue and earnings per share estimates for Fabrinet. It raised its full fiscal year 2027 revenue estimate to $5.9B from $5.5B and fiscal 2028 to $7.1B from $6.3B. It also established a fiscal 202...
Alex Wong/Getty Images News The United States has widened its maritime enforcement actions against Iran, extending restrictions to vessels of any nationality and signaling it may track and intercept ships beyond the Middle East, according to senior defense officials. At a Pentagon briefing Thursday, Joint Chiefs Chairman Gen. Dan Caine said the effort is no longer limited to ships traveling direct...
Alex Wong/Getty Images News The United States has widened its maritime enforcement actions against Iran, extending restrictions to vessels of any nationality and signaling it may track and intercept ships beyond the Middle East, according to senior defense officials. At a Pentagon briefing Thursday, Joint Chiefs Chairman Gen. Dan Caine said the effort is no longer limited to ships traveling directly to or from Iranian ports. Vessels identified under U.S. sanctions could face interception, inspection and potential seizure by naval forces, officials said. Defense Secretary Pete Hegseth indicated the campaign will remain in place indefinitely, framing it as part of broader pressure on Tehran. At the same time, diplomatic efforts between Washington and Tehran remain active but unresolved. Pakistan, which has played a mediating role, said no timetable has been set for a second round of talks, though both sides have expressed willingness to continue discussions, according to officials familiar with the situation. Hegseth also said U.S. forces are positioned to respond quickly if the current cease-fire breaks down, underscoring the fragile nature of the pause in hostilities. Vice President JD Vance is expected to lead the U.S. delegation in any future high-level negotiations, according to several media reports. More on iShares U.S. Aerospace & Defense ETF, State Street SPDR S&P Aerospace & Defense ETF, etc. Commodities: Oil Trades Lower On De-Escalation Hopes Smart Money Is Deploying Fresh Capital Gold Vs. Oil U.S. naval blockade of Iran turns away 13 ships, ramps up pressure on Tehran - reports Pentagon held talks with GM, Ford on weapons production - report
Just_Super/iStock via Getty Images Scott Chronert, head of U.S. equity strategy at Citi Research, predicted the tech sector ( VGT ), ( XLK ) is entering what he calls a “reverse perfect storm” as major technology companies prepare to report earnings. With semiconductors ( SMH ), ( SOXX ), software ( IGV ), ( XSW ), and hyperscalers facing different market pressures, Chronert expects solid quarterl...
Just_Super/iStock via Getty Images Scott Chronert, head of U.S. equity strategy at Citi Research, predicted the tech sector ( VGT ), ( XLK ) is entering what he calls a “reverse perfect storm” as major technology companies prepare to report earnings. With semiconductors ( SMH ), ( SOXX ), software ( IGV ), ( XSW ), and hyperscalers facing different market pressures, Chronert expects solid quarterly results to validate the ongoing AI trade and perpetuate the current narrow leadership among tech giants. Speaking in an interview with CNBC, Chronert explained that investors are looking for “confirmation of what’s been ongoing for the past several quarters now, which is a pretty notable beat and raise.” The comments came as the S&P 500 ( SP500 ) touched record highs and the Nasdaq ( COMP:IND ) recorded an eleven-day winning streak, fueled by a significant shift from risk-off to risk-on positioning following the de-escalation of the Iran conflict. The market recovery has produced some historic moves, with Oracle ( ORCL ) surging 29% and Microsoft ( MSFT ) climbing 14% in a single week. Chronert noted that this repositioning mirrors what occurred last year around the “liberation day tariffs” in early April, as investors gained more confidence in a potential wind-down of geopolitical tensions. While Citi remains bullish on semiconductors ( SMH ), Chronert acknowledged that “the software sector has been under duress, as have the hyperscalers.” This divergence creates the conditions for what he describes as a reverse perfect storm—when companies that have been under pressure deliver strong earnings, it could spark a significant rally in those beaten-down segments. “What you have here is sort of an interesting, I’m going to say, reverse perfect storm, whereas these companies then come through with solid earnings, it should perpetuate this narrow leadership right now,” Chronert said. He added that this dynamic “then begins to set the stage for more time to pass around oil price...
Beijing’s point man on Hong Kong affairs has met the city’s No 2 official and finance chief in the capital to discuss alignment with the national 15th five-year plan, as the government prepares to draw up its own inaugural blueprint by the end of the year. The State Council’s Hong Kong and Macau Affairs Office (HKMAO) said its director, Xia Baolong, held talks with Chief Secretary Eric Chan Kwok-k...
Beijing’s point man on Hong Kong affairs has met the city’s No 2 official and finance chief in the capital to discuss alignment with the national 15th five-year plan, as the government prepares to draw up its own inaugural blueprint by the end of the year. The State Council’s Hong Kong and Macau Affairs Office (HKMAO) said its director, Xia Baolong, held talks with Chief Secretary Eric Chan Kwok-ki, Financial Secretary Paul Chan Mo-po, and the newly appointed Secretary for Constitutional and...