JPMorgan Chase & Co. reported third-quarter profit rose 4%, boosted by strong trading results as global markets recovered from their coronavirus-induced plunge.

The New York-based lender, the largest in the U.S., earned $9.44 billion, or $2.92 per share, outpacing the $2.23 that analysts surveyed by Refintive were expecting. Revenue slipped 0.2% to $29.94 billion, still higher than the $28.29 billion analysts anticipated.

Ticker Security Last Change Change %
JPM JP MORGAN CHASE & CO. 100.78 -1.66 -1.62%

The investment banking business “continues to be a big driver of firm performance with markets revenue up 30% and global investment banking fees up 9%,” JPMorgan CEO Jamie Dimon said in a statement.

CORONAVIRUS VACCINE MORE IMPORTANT FOR STOCKS THAN PRESIDENTIAL ELECTION WINNER: GOLDMAN SACHS

Markets revenue totaled $6.6 billion as equity trading grew 32% while

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Hundreds of millions of domestic tourists have boosted China’s economic recovery over its Golden Week national holiday, even as concerns linger over consumer spending.

There were 637m trips in China over the eight-day holiday this year, which drew to an end on Thursday, generating revenue of Rmb466.6bn ($69.5bn), data from the Ministry of Culture and Tourism showed.

The holiday is seen as an important barometer for consumer spending in the world’s second-largest economy. China’s third-quarter gross domestic product data, which will be released this month, will also be closely examined for signs of how other economies might recover from the pandemic.

While the figures reflected notably high volumes of internal travel at a time when other countries are struggling to tackle coronavirus, they remain well below last year’s total of 782m trips over a seven-day period.

Tourism revenue was also 30 per cent lower than over the same period last

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Recasts throughout with shares, estimates

Oct 8 (Reuters)Domino’s Pizza Inc DPZ.N reported a smaller-than-expected profit on Thursday, as high COVID-19-related costs and staff bonuses offset a jump in demand for pizzas during the coronavirus crisis.

Shares of the Ann Arbor, Michigan-based company, which have risen about 47% this year, were down about 5% before the bell.

The world’s largest pizza chain has thrived during the health crisis as diners staying at home craved more comfort food, but that came at a cost for the company, which spent millions on hiring more staff, bonuses, sick-pay policies and sanitary supplies.

Still, sales at Domino’s U.S. stores open for more than a year rose 17.5% in the third quarter ended Sept. 6, exceeding Wall Street estimates of 13.14%, according to IBES data from Refinitiv.

The resumption of sports leagues such as the National Basketball Association and the National Hockey League

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A 55-year-old Melbourne business owner has responded to the government’s support for employing young people with a tweet advertising a part-time role for “a woman just like me”.



a close up of a man wearing a hat: OKaye Services


© Provided by Smart Company
OKaye Services

And, amid a budget that has done little for women, let alone women over the age of 35, the callout has struck a chord.

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Speaking to SmartCompany, Kaye Stirland says her business was “born out of necessity”.

“I had had a really rough five years,” she says.

The entrepreneur had faced bullying in the workplace, her marriage broke down, and health issues left her needing surgery.

“I was absolutely broke,” she says, living off food parcels and the kindness of friends.

After a stint driving for Uber and taking other odd casual roles, she did finally find full-time work.

But, while dealing with a family member’s health issues, and her own mental

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ASSOCIATED PRESS

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Stocks were mixed in Asia on Wednesday while upbeat manufacturing data lifted shares in China as investors studied the outcome of the debate between President Donald Trump and his Democratic challenger, Joe Biden.

The Hang Seng (HK:HSI) in Hong Kong jumped 1.3%, but fell back from a 2.1% gain earlier in the morning. The Shanghai Composite index (CN:SHCOMP) surged 0.5%. Japan’s Nikkei 225 index (JP:NIK) lost 0.7% , while Australia’s S&P/ASX 200 (AU:XJO) skidded 1.6%. Markets were closed in South Korea. Shares fell in Thailand (TH:SET) and Indonesia (ID:JAKIDX) but rose in Taiwan (TW:Y9999) and Singapore (SG:STI)

Investors remain cautious with COVID-19 infections on the rise again in the U.S. and elsewhere. The Trump-Biden debate occurred as coronavirus deaths worldwide have surpassed 1 million. Many millions of people worldwide are jobless.

A survey of Chinese manufacturers, the Caixin manufacturing purchasing manager’s index, showed economic

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SHENZHEN, China, Sept. 25, 2020 /PRNewswire/ — YUCHIP just completed the production and aging test of another 200 sets of street LED posters, ready for shipment to the Middle East. It’s said that the whole project needs 2,000 sets of street pole LED displays.

To build a smart city, a smart street light pole will be the central nerve of the city to transmit information. A report issued by the United States Wireless Communications and International Network Association (CTIA) in 2017 pointed out that urban street lights will be an important infrastructure in the 5G era.

Take a look at the world’s smart city building plan. Barcelona, Spain, a model of European smart cities; its pre-plans for smart cities started in 2008. Many Asian countries have further constructed the blueprint for the development of smart cities through information development related policies, such as South Korea’s “u-City Smart

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APPLETON, Wis., Sept. 23, 2020 /PRNewswire/ — Appleton-based marketing agency, Writing by Design, recently assisted the LiftFund’s Women’s Business Center of Dallas in creating a variety of educational materials for minority-owned small businesses in the Dallas/Fort Worth and San Antonio areas for its new COVID-19 Business Resiliency Program.

The two-month project began when the Wisconsin agency responded to a request for proposal (RFP) from LiftFund in June. The vision for the program came from Tarsha Polk, director of LiftFund’s Women’s Business Center, and then became a reality once Polk and her team applied for a grant through the Coronavirus Aid, Relief, and Economic Security (CARES) Act.

“We got a flood of phone calls from business owners who had to temporarily close their doors due to safer-at-home orders and needed help,” said Polk. “Listening to all the challenges and frustrations from small business owners and really understanding what they

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ECONOMIC REPORT

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An earlier version misstated the OECD’s June estimate for 2021 global growth.

Kevin Frayer/Getty Images

The Organization for Economic Cooperation and Development on Wednesday boosted its global economic outlook while warning policy makers not to tighten policy too quickly.

The OECD said global gross domestic product will shrink by 4.5% this year, and rise 5% next year. That is a big improvement from what the OECD projected in June, which was for a 6% contraction this year, followed by 5.2% growth in 2021.

The OECD credited the improvement to better-than expected outcomes for China and the U.S. in the first half of this year, and a response by governments on a massive scale. But the Paris-based organization said output in many countries at the end of 2021 will still be below the levels at the end of 2019, and well below what was projected before the

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A few dozen centrist lawmakers rankled by the collapsed COVID-19 stimulus talks and lack of relief to Americans will try to prod Democratic and Republican leaders and the Trump administration back to the negotiating table with a new $1.5 trillion package.

One of the most popular and bipartisan-backed provisions in previous packages, direct checks of at least $1,200 to American taxpayers, is included in the new plan from the 50 members of the House Problem Solvers Caucus, The New York Times reported Tuesday.

For more on previous proposals including stimulus checks, read here.

The Problem Solvers’ offering comes a week after the latest $500 billion GOP plan was blocked by Senate Democrats, who derided the package as inadequate in the wake of an unprecedented public health and economic crisis. It also follows a series of stalled talks and false starts since the spring as Democratic and Republican proposals have

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Il Canale restaurant is open for outdoor dining in Georgetown, Washington, DC, May 30, 2020.


  • Economists at Bank of America lifted their forecast for third-quarter US GDP growth to 27% from 15% on Friday, citing better-than-expected trends in retail sales, the housing market, and hiring.
  • Yet the firm lowered its fourth-quarter projection to 3% from 5%. Failed stimulus negotiations are growing increasingly likely, and the lack of fresh aid forms a “speed bump” for the US economic recovery.
  • The adjustment comes after Senate Democrats blocked Republicans’ $500 billion measure on Thursday. The parties remain hundreds of billions of dollars apart in their respective proposals’ sizes.
  • Visit the Business Insider homepage for more stories.

Bank of America adjusted its second-half forecast for US gross domestic product, reconciling a stronger-than-expected recovery with fading hope for near-term stimulus.

Economists led by Michelle Meyer raised their third-quarter GDP

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