Federal National Mortgage Association : * FANNIE MAE (FNMA) - ECONOMIC GROWTH EXPECTED TO ACCELERATE AS VACCINE DEPLOYMENT QUICKENS AND WARMER WEATHER APPROACHES. * FANNIE MAE (FNMA) - U.S. ECONOMY IS EXPECTED TO GROW 5.3 PERCENT IN 2021 Source text for Eikon: Further company coverage:
Citigroup Inc (C) reported a 7% decline in fourth-quarter profit on Friday but easily beat Wall Street expectations, as an improving economic outlook allowed it to release cash it had previously set aside for bad loans. The New York-based bank earned $4.63 billion, or $2.08 a share, down from $5 billion, or $2.15 a share, a year earlier.
JPMorgan Chase & Co (JPM) reported a better-than-expected quarterly profit on Friday as it released some of the cash it had built up against coronavirus-driven loan losses, although the bank cautioned that demand for loans was likely to remain sluggish this year.
- JPMorgan Chase & Co (JPM) reported a better-than-expected quarterly profit on Friday as it released some of the cash it had built up against coronavirus-driven loan losses, although the bank cautioned that demand for loans was likely to remain sluggish this year.
China's current interest rate levels are appropriate, Sun Guofeng, the head of the central bank's monetary policy department, told a news conference on Friday. The bank would use various policy tools to ensure liquidity was reasonably ample, Sun added.
Shares of Poshmark Inc soared more than 140% in their stock market debut on Thursday, valuing the online fashion marketplace over $7 billion, highlighting investor optimism for online shopping that has surged during the COVID-19 pandemic. Shares opened at $97.5 on the Nasdaq and finished the first day trading at $101.5, well above the initial public offering price of $42 apiece.
* reuters://realtime/verb=Open/url=cpurl://apps.cp./Apps/cb-polls?RIC=RSCBIR%3DECI. Serbia's central bank kept its benchmark rate unchanged at 1.00 percent on Thursday. All 10 dealers and traders polled by Reuters this week and last, said the bank would keep the main rate unchanged.
All of the Federal Reserve's 12 regional banks wanted to keep unchanged the rate that commercial banks are charged for emergency loans ahead of the U.S. central bank's December policy meeting, minutes from the directors' discussions of the discount rate showed on Tuesday.
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