Bed Bath & Beyond Clinches Loan Deal

Bed Bath & Beyond Inc. has found a financing source to shore up its liquidity as it tries to weather recent missteps, according to people familiar with the matter. The company on Tuesday told prospective lenders that it has selected a lender to provide a loan following a marketing process conducted by JPMorgan Chase & … Read more

XTX’s Zar Amrolia: Why ‘Terminator’ robots will never replace human traders

Zar Amrolia started off as a quant at JPMorgan in 1988 when he was in his mid-20s. He drifted into trading and sales, with stints at Credit Suisse and Goldman Sachs, rose to the head of currency trading at Deutsche Bank and eventually became co-chief of XTX Markets. Amrolia will step down in early 2023. Soon to join … Read more

U.S. Stocks Poised for Lower Open on Monday

More than one dozen S&P 500 companies report earnings this week. Spencer Platt/Getty Images Text size U.S. stocks are poised for a lower open on Monday. On Sunday night, Dow Jones Industrial Average futures lost 31 points, or 0.1%, while S&P 500 futures lost 0.2%, and Nasdaq Composite futures fell 0.3%. Crude oil futures (West … Read more

Citigroup Stock Is the Cheapest of the Big Banks. It’s Ready to Take Off.

Text size Even Warren Buffett’s Berkshire Hathaway has been buying Citi stock, a vote of confidence if there ever was one. Mario Tama/Getty Images Bank stocks have gotten hit as concerns about the U.S. economy have grown. They’re starting to look like bargains, and none more so than Citigroup . The SPDR S&P Bank exchange-traded … Read more

Berkshire Hathaway May Have Sold Verizon, Bought $10 Billion of Financials

Text size Warren Buffett’s Berkshire Hathaway said it incurred $739 million of realized losses on equity sales in the first quarter. Paul Morigi/Getty Images for Fortune/Time Inc Berkshire Hathaway ’s record quarterly equity purchases of $51.1 billion in the first quarter, including large buys of Chevron and Occidental Petroleum , probably amounted to the biggest … Read more

Why Russia Doesn’t Want to Default—Even in a Time of War

Behind the fight over whether Russia should be allowed to pay off its debts is an age-old issue: Borrowers, even in times of war, want to keep their reputations for making investors whole. The U.S. Treasury Department this week blocked Russia from paying off a bond it had due on Monday by denying a sanctions … Read more

Jamie Dimon says just 50% of JPMorgan’s employees will work in the office full-time

Only around half of JPMorgan’s 270,000 staff will work from the office full-time, as the US banking giant has overhauled its workforce in the wake of the Covid-19 pandemic. In his sweeping annual shareholder letter, JPMorgan chief executive Jamie Dimon said that “it’s clear that working from home will become more permanent in American business”, … Read more

XTX Markets’ Zar Amrolia steps down as co-CEO, JPMorgan’s Buehler named deputy chief

Zar Amrolia, who co-headed Deutsche Bank’s fixed income unit and led its hulking FX trading division, will leave XTX Markets next year. Amrolia is a key figure in City trading circles, and has co-headed XTX alongside Alex Gerko since the firm started in late 2015. XTX was a small upstart, then a big challenger for large investment … Read more