Doesn’t seem the turmoil in the American banking system did a whole lot to put a dent in JPMorgan and Wells Fargo in their latest quarters.
Both JP and Wells kicked off another round of bank earnings with a pair of profit beats, with the former posting a 52 per cent increase in first quarter profit and record revenue, and the latter’s net income rising more than 30 per cent.
CIC – China’s massive sovereign wealth fund – owns about 10 per cent of Teck’s common Class B shares, and reportedly sees Glencore’s proposal for the coal assets as a cleaner exit for investors than Teck’s plans to spin out its coal unit into a new publicly-traded entity That Class B distinction is important in the context of the vote – while the Keevil family controls the company through its super-voting Class A shares , the vote on Teck’s spinout proposal requires approval from both groups of...
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