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Mosaic stock slides more than 2% as JPMorgan downgrades to underweight

“We note that phosphate imports into the U.S. were also heavy in 2018 when they increased by more than 1m tons.”” writes Ciara Linnane for marketwatch.com. Mosaic Co. shares MOS, +0.00% slid more than 2% in premarket trade Wednesday, after JPMorgan downgraded the stock to underweight from neutral and said it expects potash and phosphate fertilizer pricing to remain weak.”Phosphate imports into the U.S. actually rose by 500kt for the first nine months of 2019, which effectively offset the effects of the Mosaic curtailment. Source: marketwatch.com

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Markets News Stocks 

The historic ’60-40′ rule of investing is finished for at least 10 years thanks to low bond returns, according to JPMorgan’s $1.9 trillion asset management arm. Here’s what to do instead.

“Some investors will find that appealing, but the metal’s price is volatile, and it doesn’t generate income like bonds do” writes Marley Jay for businessinsider.com. He says high quality real estate and infrastructure assets will appeal to many investors because they offer strong, steady returns.That means investors have to think carefully about their situations and the pluses and minuses of numerous alternatives.The idea was that the stock-bond combination would perform well in good times and bad, and would deliver safety and steady income.”The 60-40 stock-bond portfolio is going to give you…

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Crypto News 

Singapore’s MAS, JPMorgan Unveil Multi-Currency Blockchain Prototype

“Singapore’s central bank and state investment firm have created a prototype multi-currency blockchain-based payments network together with JPMorgan” writes Marie Huillet for cointelegraph.com. The Monetary Authority of Singapore (MAS) —  the city state’s de facto central bank — led the development of the new solution, working in conjunction with state investment firm Temasek Holdings and the United States’ largest bank, JPMorgan Chase.The prototype is reported to provide interfaces for other blockchain networks to connect and integrate without friction. Source: cointelegraph.com

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News 

A job posting shows JPMorgan’s consumer bank is assembling a ‘recession readiness’ team and drawing up a playbook to navigate downturns

“It’s run under the Chase name and includes products like retail branch banking, credit cards, home and auto loans” writes Shannen Balogh for businessinsider.com. The recession readiness analytics role, posted on October 31st, is based in Wilmington, Delaware, where JPMorgan currently employs 3,800 people across card services and consumer banking.At the same time, JPMorgan CEO Jamie Dimon was likewise generally positive, saying: “If you look at consumer credit, commercial credit, wholesale, it’s extraordinarily good.JPMorgan is considering relocating several thousand New York-based jobs to other cities in an effort to reduce…

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Amazon, JPMorgan, and Berkshire Hathaway’s health insurance JV is expanding to cover more employees

“Haven plans to monitor JPMorgan employees’ receptiveness to these new health plans, with specific interest given to whether or not pricing and payment is more transparent” writes Zachary Hendrickson for businessinsider.com. Haven’s health plans differ in a critical way from plans most US consumers would be familiar with, according to Bloomberg, as there are no required deductibles.The health insurance JV is expanding coverage to more than 30,000 employees and will track members’ reception to different configurations of benefits, marking Haven’s most concrete step toward scaling up since its inception last year.JPMorgan and Amazon…

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JPMorgan is forming a new VC coverage group in its commercial bank and hired four exes away from Silicon Valley Bank to lead it

“JPMorgan is looking to up its game in the startup space with a new VC-focused relationship management team led by Silicon Valley Bank alumni” writes Shannen Balogh for businessinsider.com. According to JPMorgan’s 2018 Letter to Shareholders, 39% of the bank’s total North American investment banking fees came from commercial banking clients, which accounted for $2.5 billion in revenue.Meanwhile, Bank of America and Goldman Sachs have also been putting a focus on smaller deals to help juice investment banking revenue. The commercial banking division at JPMorgan reported third-quarter profit that was…

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News 

Top tech banker Noah Wintroub is at the center of WeWork’s failed IPO. We talked to insiders to learn more about his meteoric rise at JPMorgan.

“He’s in this world where JPMorgan has historically come from behind,” a former JPMorgan banker said” writes Dakin Campbell for businessinsider.com. On June 13, the senior JPMorgan banker Noah Wintroub posted a message on his Twitter feed congratulating the freelancing app Fiverr on its successful JPMorgan-led public offering.In January, the Financial Times quoted the JPMorgan banker as saying you could get attracted to Neumann’s vision thanks to a charisma that was as magnetic as he has seen. Source: businessinsider.com

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SoftBank could have just walked away from WeWork and its $9 billion investment. Business experts explain why it didn’t.

“But rescuing WeWork was likely going to become increasingly difficult the closer it got to running out of cash, business experts said” writes Troy Wolverton for businessinsider.com. It’s not irrational to think that WeWork still has value, business experts said.And if WeWork had gone into bankruptcy, SoftBank potentially could have bought it back at a fraction of what it ended up paying.But in a statement SoftBank issued on Tuesday announcing the bail-out deal, it emphasized WeWork’s promise as a business. Source: businessinsider.com

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WeWork considers rescue plans from SoftBank and JPMorgan

“SoftBank is also offering to put together loans totaling $5 billion from a consortium of financial institutions, including itself” writes This Story Was for seattletimes.com. One is being offered by SoftBank, and another from a financial consortium led by JPMorgan Chase.The board of WeWork, the cash-starved purveyor of shared office space, could choose between two competing financial rescue packages as early as Tuesday, according to people with knowledge of the matter.Once one of the world’s most celebrated startups, WeWork was valued by SoftBank at $47 billion in January but had…

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