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JPMorgan, Citi, BofA employees begin 2022 working from home

  Bloomberg JPMorgan Chase & Co, one of Wall Street’s staunchest advocates of returning to Manhattan skyscrapers, is offering employees the option of working from home in the opening weeks of 2022, and Citigroup Inc (Citi) and Bank of America Corp (BofA) are encouraging staff to log on remotely, as more financial firms grapple with the latest surge in Covid-19 ...

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Santander mistakenly hands out $1750m in Christmas blunder

  Bloomberg Banco Santander SA is racing to retrieve 130 million pounds ($175 million) paid out to thousands of British customers in a Christmas Day slip-up. Spain’s biggest lender accidentally made a second payment on December 25 to about 75,000 people and firms who had been due for one-off or programed payments from 2,000 businesses with accounts at its UK ...

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SNB spent $3.1bn francs on interventions in Q3

  Bloomberg The Swiss National Bank (SNB) bought foreign exchange worth 2.8 billion francs ($3.1 billion) in the third quarter just before the franc began a sharper appreciation against the euro. The franc broke through a key level of 1.04 per euro and continued to strengthen towards 1.03 during final days of 2021. That might challenge the central bank’s description ...

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Credit Suisse is probing chairman over quarantine

  Bloomberg Credit Suisse Group AG has started a probe into Chairman Antonio Horta-Osorio over his recent breach of Swiss quarantine rules, Finews reported, citing two people with knowledge of the matter. Romeo Cerutti, the bank’s top lawyer, is overseeing the probe, according to Finews, which added that it was unclear who initiated the proceedings. Board discussions on the matter ...

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Philippine peso drops past 51 barrier for first time since 2020

  Bloomberg The Philippine peso dropped beyond 51 per dollar for the first time since April 2020 amid speculation the nation’s trade deficit will widen as domestic demand improves. The peso falls as much as 0.5% to 51.27, the weakest level since March 2020. The currency is the worst performer in emerging Asia over the past month with a loss ...

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Nordea analysts behind ‘lockdownistas’ note to leave bank

  Bloomberg Two senior analysts at Nordea Bank Abp who wrote a controversial research report criticising coronavirus measures including national lockdowns are to leave the bank. An offer had been made to Chief Analyst Martin Enlund and Global Chief Strategist Andreas Steno Larsen to continue at Nordea Markets, “but they have decided to leave,” the bank said in a statement. ...

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Apple’s market cap tops $3tn after relentless rally

  Bloomberg Apple Inc’s stock-market value briefly rises above $3 trillion, shattering yet another record and underscoring how the pandemic has turbocharged Big Tech’s decades-long rise. The company was the first to achieve this milestone, although it failed to hold above the level through the end of the trading day. It closed 2.5% higher at $182.01 and with a market ...

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China stocks suffer worst begining since 2019 on profit taking

  Bloomberg Chinese shares had their worst start to the New Year since 2019, as investors took profit on some of their most successful bets in 2021. The benchmark CSI 300 index closed down 0.5% on Tuesday, marking its weakest opening session in three years and led by declines in renewable energy and healthcare firms. Among the top losers, drugmaker ...

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