Business
Investors want Jamie Dimon to Stay, Says Analyst Mayo
Citigroup Inc. lifted Chief Executive Officer Jane Fraser’s total compensation to $34.5 million for 2024 — up a third from the previous year — as she continues to drive a plan for higher returns at the Wall Street bank.
Fraser’s pay, the vast majority of which is in the form of stock-linked awards, is up from the $26 million she received for 2023 and represents the biggest raise among CEOs of large US banks.
Among her CEO peers, Fraser’s pay puts her ahead of both Wells Fargo & Co.’s Charles Scharf and Morgan Stanley’s Ted Pick, who received $31.2 million and $34 million, respectively. Both Goldman Sachs Group Inc.’s David Solomon and JPMorgan Chase & Co.’s Jamie Dimon were paid $39 million, while Bank of America’s Brian Moynihan was awarded $35 million.
Mike Mayo, Head of US Large-Cap Bank Research at Wells Fargo Securities, examines Dimon’s staying power and ultimate succession plan for JPMorgan, as well as Fraser’s turnaround success story at Citi.
Please note that Wells Fargo Securities, LLC and/or its affiliates, have beneficial ownership of 0.5% or more of any class of the common stock of Citigroup Inc. Wells Fargo Securities, LLC, or its affiliates intends to seek or expects to receive compensation for investment banking services in the next three months from an affiliate of Citigroup Inc.
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Business
Who Is Buying America’s Debt These Days?
With the US now $40 trillion in the red, the US Treasury’s sudden move to rein in bond yields has cast a spotlight on who is, and isn’t, purchasing American debt these days.
US Public Debt Hits $40 Trillion, Raising ‘Doom Loop’ Risk: https://bloom.bg/4xZMpMy
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Business
World Bank’s Mishra Pushes Back on India Growth Doubts
A range of high-frequency indicators show India’s economy is gaining momentum, said World Bank Executive Director Neelkanth Mishra, pushing back against skepticism over GDP data, in an interview with Bloomberg’s Haslinda Amin and Menaka Doshi.
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Business
How America Got Hooked On Celsius
In a corner of the beverage industry known as much for over-caffeinated hype as it is for outrageous naming conventions, new brands appear just as quickly as others disappear. Deena Shanker explains how Celsius has managed not only to outlast most of its competition, but to stand apart.
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Bloomberg This Weekend | Iranian Tanker Sinks, Push For Peace in Ukraine, State of the Labor Unions
The news doesn’t stop when markets close. Hosts David Gura, Christina Ruffini and Lisa Mateo bring clarity, context and a bit of humor to the weekend’s biggest headlines, LIVE from New York. Joined by BBC Chief International Correspondent Lyse Doucet, AFL-CIO President Liz Shuler, Michigan Rep. Haley Stevens and California Rep. Kevin Kiley.
Chapters:
00:00:00 – Bloomberg This Weekend Begins
00:01:31 – News Now with Lisa Mateo
00:04:28 – Iran Targets Oil Tankers in Response to US Strikes
00:06:48 – US Strikes 3 Iranian Tankers in Response to Attacks
00:09:54 – US Envoys Kushner & Witkoff Arrive in Ukraine
00:13:51 – Germany Holding Key State Election Today
00:16:12 – German Election Pose Risk to Chancellor Merz
00:18:00 – Lisa Mateo with News Now
00:19:19 – Canada’ Reciprocal Tariffs to Take Effect Tuesday
00:21:17 – Bessent: Canada Tariffs “Negligable” Impact on US
00:23:06 – New Canadian Tariffs to Hit Metals & Machinery
00:28:34 – The Big Business of Helping the Rich Dodge Taxes
00:31:28 – News Now with Lisa Mateo
00:33:00 – BBC Goes Inside Afghanistan Ahead of 9/11 Anniversary
00:35:29 – BBC Reporter Explores Life Under Taliban Rule
00:41:29 – BTW with Lisa Mateo
00:48:29 – Top of the Hour with Bloomberg This Weekend
00:50:10 – Lisa Mateo with News Now
00:52:43 – Iran Says It Targeted Tankers in Response to US Strikes
01:00:12 – Trump Blames Biden For Giving Weapons o Ukraine
01:01:36 – USS Lincoln Docks in Thailand After 9 Months at Sea
01:02:41 – Thai City Rolls Out Red Carpet for US Sailors
01:03:51 – Sailors Share Troubling Stories From Department
01:06:30 – News Now with Lisa Mateo
01:08:16 – AFL-CIO President Joins Bloomberg This Weekend
01:20:00 – Lisa Mateo with News Now
01:22:15 – This Week: Republican Midterm Convention in Dallas
01:25:20 – Trump’s MAGA INC. Sends $10M to Aid Ken Paxton
01:28:43 – Obama to Headline NYC Fundraiser on Thursday
01:30:00 – Ad – British Food Culture Hits the United States
01:37:00 – ad – Top of the Hour with Bloomberg This Weekend
01:37:44 – Headlines with Lisa Mateo
01:40:26 – Kushner, Witkoff Meet Zelenskyy in First Visit to Kyiv
01:42:47 – Rep. Haley Stevens Joins Bloomberg This Weekend
01:56:25 – Rep. Kevin Kiley Joins Bloomberg This Weekend
02:06:51 – News Now with Lisa Mateo
02:09:44 – The Real Toll of Europe’s Heatwave
02:12:00 – Lisa Mateo with News Now
02:13:26 – LA Clippers Fined $40M, Lose 5 Picks for Salary Cap Circumvention
02:16:39 – WNBA Commissioner Engelbert to Retire After Seven Years
02:17:36 – Bloomberg Power Players
02:18:53 – NYC’s US Open Tickets Tumble to Below $100 a Seat
02:19:57 – Cannabis Fumes Distract Tennis Stars at US Open
02:22:01 – Pointed: The News Quiz for Risk Takers
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Business
People Trying Hard To ‘Outfox’ S&P 500: Cutright
Brooks Cutright, portfolio manager at Hedgeye Asset Management, joins Scarlet Fu and Eric Balchunas on “Bloomberg ETF IQ.” Index tracking funds have nearly $27 trillion tied to the S&P 500. This Friday the S&P 500 is set to announce who may be added or taken out of the index as part of a rebalancing. Thirty-six companies appear to qualify for entry, while more than 110 existing members no longer meet the index’s market-cap hurdle.
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