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NEWS - MARCH 2017



Morgan Stanley sees Fed hiking U.S. rates in March

Morgan Stanley economists said on the 3rd of March they expected the Federal Reserve will raise U.S. interest rates by a quarter point to a range of 0.75-1.00 percent at its upcoming policy meeting in less than two weeks.

The U.S. central bank would increase its interest rate target range two more times later in 2017 after a possible hike later this month, they said in a research note (Source: reuters.com).





Credit Suisse sees more lending to the world's wealthy 

Credit Suisse (CSGN.S) expects higher lending to the world's wealthiest individuals will help its big bet on wealth management pay off.  

Around a third of the 30.2 billion Swiss francs ($29.8 billion) of net new assets taken in last year at its International Wealth Management (IWM) and Asia Pacific (APAC) divisions came via lending, according to Chief Financial Officer David Mathers, who believes this could go even higher (Source: reuters.com).





American Express escalates high-fee card competition

American Express Co (AXP.N) will begin to offer this month $200 a year in Uber rides, plus other new perks, on its Platinum charge cards as it fights to protect its high-end market from JPMorgan Chase & Co (JPM.N) and Citigroup Inc. (C.N)

The new Platinum benefits will include richer credits for spending, access to more airport lounges, special dining and entertainment options and free use by family members of an American Express Gold card, according to Janey Whiteside, general manager of Global Charge Products, Benefits & Services for American Express.

The changes, which will start on March 30, will also raise the annual account fee for card holders to $550 from $450 (Source: reuters.com).





JPMorgan eyes boosting dividends, buybacks as capital piles up

No. 1 U.S. bank JPMorgan Chase & Co (JPM.N) may return more money to shareholders than it earns over the next few years, it forecast on the 28th of February, an encouraging sign for investors who have been waiting for richer dividends and share repurchases.

The prediction came in documents posted on JPMorgan's website for its annual investor day, where top executives offered their vision for the four major business lines and financial targets for the broader institution (Source: reuters.com).





Tesla plunges another 5 percent on fears of Model 3 delays

Shares of Tesla (TSLA.O) dropped on the 27th of February after a downgrade by Goldman Sachs, bringing the electric carmaker's decline to 11 percent since its quarterly report last week stoked worries about how much cash it is using to launch its Model 3 sedan.

Concerns that Tesla's Model 3 production this year might be delayed, as well as expectations the company will sell stock to raise $1.7 billion, led Goldman Sachs analyst David Tamberrino to downgrade Tesla to "sell" from "neutral".

That helped push the stock down 4.83 percent to $244.52 in morning trade on the 27th of February. If it closes at that level, it will have been the worst three-day performance for the shares since June last year (Source: reuters.com).



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