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Tag Archives: Midtown Manhattan

Citi Warns Trading Revenue To Tumble 15% In Q3 Due To “Subdued Volatility”

Exactly three months ago, in mid-June, Citigroup CFO John Gerspach warned investors at a Morgan Stanley investment conference that Citi's second quarter trading revenues would be down 12-13%, mostly due to declining market volatility. A few weeks later, he was proven right when US banks - and especially Goldman Sachs - posted some of the worst trading revenues in over a year. Fast forward to today, when Citi did it again after CFO Gerspach, this time speaking at a Barclays conference, warned...

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A Bearish Citi Warns “Bigger Forces Are At Play”, Pointing To Its ‘Chart Of The Week’

Over the next three weeks, the investing world will shift its attention away from the endless chatter of central bankers and concerns about the state of the economy, and instead focus on second quarter earning season, which launched on Friday with results from the three biggest US banks which showed that chronically low volatility is anything but good for trading revenues (as Jamie Dimon made all too clear in a bizarre Friday rant). As previewed last week, and is the norm, we get most of the...

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Billionaire Chairman Of Chinese Conglomerate Anbang, Linked To Jared Kushner, Has Been Detained

Anbang Insurance, China's hyperacquisitive insurance rollup, which was responsible for a sizable portion of China's merger spree between 2014 and 2016, and which has since been accused of being a money laundering vehicle, of wreaking "havoc" with the Chinese insurance market, and was a potential investor in Jared Kushner's 666 Fifth Avenue building until the deal fell apart in March, announced that its billionaire Chairman Wu Xiaohui, is "unable to perform his duties" due to personal reasons,...

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Macy’s Tumbles After Issuing Profit Margin Warning

Another day, another guidance cut by a retailer, this time from Macy's which during its investor meeting, warned investors that the company's gross margin could be below the forecast given just this part February, some 60-80 basis points lower. According to Fly on the Wall, Macy’s CFO Karen Hoguet said at investor day that the gross margin for the fiscal year ending January 2018 is trending 60bps-80bps below FY17, with the 2Q rate ~100bps below 2QFY17. One possible explanation: liquidation of...

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“Amber Warning Sign” Issued For EURUSD Bulls

While Draghi's conference was supposed to be relatively boring, it was anything but, with the EUR first sliding on the statement's suggestion that more QE is possible, then spiking on upbeat economic comments, then sliding again after Draghi talked down the inflationary outlook but most importantly, when the ECB president said that the ECB did not discuss options for June, nor removing the easing bias for interest rates. This was counter to the latest Reuters trial balloon earlier this week...

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16 Injured In New York Train Station Stampede After “Gunshots” Heard

Crowds fled New York's Penn Station Friday night after an Amtrak police officer deploying a Taser was mistaken for gunshots, causing a stampede that left 16 injured. NBC New York reported that tourists, commuters and New Yorkers alike were hiding behind garbage cans, diving behind pillars and leaving belongings as they scrambled to escape the calamity. Rumors of a shooter spread to nearby Macy's at Herald Square, where people were seen rushing from the exits. At a press conference...

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Hayes: “A Lot Of What I Know Even The DOJ Is In The Dark”

An exclusive excerpt from the hot new financial and legal thriller "The Spider Network" by David Enrich The small ski resort town, nestled in the mountains outside the city of Karuizawa, was a popular destination for day trips for Japanese families. Bustling during the day, it was mostly quiet this Saturday night. Clouds cloaked the moon. A chartered bus pulled up outside a bar, its windows aglow. A light snow was falling. Out into the peaceful evening stumbled dozens of rowdy bankers, some...

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‘All-Clear’ Issued After Trump Tower Evacuated Due To “Suspicious Package” – Live Feed

Update: All clear at Trump Tower following the earlier suspicious package in the lobby — J. Peter Donald (@JPeterDonald) December 27, 2016 Trump Tower is being evacuated due to a "suspicious package" according to NYPD. The president-elect is not at that location (currently in Florida).   Live Feed (via NBC4): ... NYPD spox just confirmed to me that the Trump Tower was being evacuated due to a "suspicious package at the location" — Philip Klein (@philipaklein) December 27, 2016 *NYPD...

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Kanye West Arrives At Trump Tower, Discusses “Life” With The President-Elect

Following his pro-Trump outbursts (and subsequent nervous breakdown), Kanye West has been summoned to Trump Tower.  A pool reporter was unable to determine the reason for his visit. JUST IN: Kanye West walks into Trump Tower https://t.co/84ClHD4MX3 — NBC News (@NBCNews) December 13, 2016   The meeting between the two: My bro Kanye West and Trump choppin it up in New York https://t.co/CHx7xk5cJs — LottoMoney (@LottoMoney_) December 13, 2016 West arrived at Trump Tower Tuesday...

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BARRICADES AT TIFFANY’S: Company Issues Sales Warning Due to Anti-Trump Protesters

The company reported an excellent quarter and the stock is higher by 6.5% early on. However, they issued a warning due to its flagship NYC store undergoing notable softness, thanks to all of the progressives protesting the democratically elected candidate for President of the United States, Donald J. Trump -- right next door at Trump Tower. An analyst from Cowen believes foot traffic could be halved, due to the wanton fuckery that is pervasive and ongoing outside the building. Truly, this...

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