FirstFT: JPMorgan Chase’s buying frenzy is Jamie Dimon’s busiest in years


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JPMorgan Chase has made more than 30 acquisitions in 2021, and this U.S. bank with the largest assets is expected to achieve Its biggest buying spree for many years.

These acquisitions are mainly acquisitions of smaller companies, from online money management companies in the UK to digital banks in Brazil, which shows that JPMorgan Chase CEO Jamie Dimon is turning to expand the banking giant’s deals.

According to data from Refinitiv, the bank has completed 33 transactions so far in 2021, and there were 9 transactions in June alone. Recently acquired OpenInvest, a platform that allows customers to customize their investment portfolio based on environmental, social and governance indicators, and a minority stake in Brazilian digital bank C6.

Wells Fargo analyst Mike Mayo said: “Compared with large acquisitions, they acquire smaller financial technology companies and better promote the asset management business with lower cultural, operational and goodwill barriers. It’s a series of pearl methods.”

There are five more stories in the news

1. KKR increases its pursuit of British companies The U.S. private equity group with assets of US$367 billion approximately Set up a new team of five transaction matchmakers In an interview with the Financial Times, the head of its European acquisitions business said that in London, he focused on acquiring British companies. Private equity groups have been pursuing British companies this year, supermarket group Wm Morrison Latest example.

2. Oil prices hit a three-year high After OPEC and its allies, oil prices rose to their highest level since 2018 Gave up the decision As Saudi Arabia, Russia and the UAE strive to reach a compromise and increase oil production. After the meeting broke down, the international benchmark Brent crude oil rose to $77.09 per barrel. The US benchmark West Texas Intermediate crude oil reached US$76.20 per barrel.

  • More energy news Mexico has granted control of one of the country’s largest oil discoveries To the state-owned Pemex, The crackdown on private investment may trigger international lawsuits.

3. The EU Global Tax Agreement Controversy Brussels is working Overcome resistance From the three member states to last week’s international agreement to rewrite corporate tax rules, Hungary and Estonia believe that the proposal may even violate EU law.

  • View: Let us not be too stingy-the reform of the international corporate tax agreement is an important moment. Martin Sandb wroteBut it also leaves fertile ground for new and ingenious technology to circumvent the rules. For more, subscription to Free lunch, British “Financial Times” weekly newsletter on global economic policy.

4. Didi investigation intensifies regulatory risks for Chinese IPOs in the United States Recent incidents surrounding China’s ride-hailing app Didi Chuxing Suspicious Multi-billion-dollar Chinese companies plan to go public in New York.The share price of Didi, which has not traded since last Friday, fell by approximately 25% of pre-IPO transactions Nowadays.

5. U.S. bond funds absorb more cash Net inflows into U.S. bond funds Far more than the The prices of comparable stock instruments this year contradict expectations that inflation concerns will undermine the attractiveness of fixed income assets. According to data from the Association of Investment Companies, as of June 23, bond mutual funds and exchange-traded funds have increased by US$372 billion, while stocks have increased by US$160 billion.

Coronavirus Digest

  • United Kingdom Sajid Javid caveat After the restrictions are lifted on July 19, the daily number of Covid-19 cases may soar to a record 100,000.

  • Indian The prosperous state of Maharashtra is home to Mumbai, the country’s financial capital. Re-implement strict Covid-19 restrictions As public concerns about a potential third wave of infections intensify.

  • This BioNTech/Pfizer vaccine just 64% effective An Israeli study showed that the prevention of infections against Delta variants is different from 94% against previous strains.

Follow our live coronavirus Blog with Sign up For us Coronavirus business update Newsletter for more Covid-19 news.

the day before

Economic data Economists expect the U.S. service industry purchasing managers index in June weaken; The Census Bureau will release monthly motor vehicle sales data. (Wall Street Journal)

Cannes Film Festival The legendary film festival Kick off After it was cancelled due to the pandemic in 2020. Spike Lee will serve as the chairman of the festival jury. (guardian)

Jacob Zuma Hearing When the former president of South Africa launched a legal challenge to avoid imprisonment, his lawyer asked the lower court to suspend his sentence and give Hearings Today-it means that he won’t be arrested until tomorrow at the earliest.

Euro 2020 Italy faced Spain in the first semi-final of the European Football Championship.Spain will be led by their captain at Wembley Sergio “Busy” Busquets According to football commentator Simon Cooper, he is “an unobtrusive genius.”

With the revision of the British “Financial Times”, keep up with important business, economic and political stories in the coming days A week ahead communication.subscription Here. Don’t miss our FT Newsletter Audio program-a short daily summary of the world’s top stories.

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Profit from the large oil companies’ drive to promote net zero income The transformation of one company away from fossil fuels is an opportunity for another company to redouble its efforts.Under tremendous pressure to take action against climate change, the world’s largest oil and gas companies are Billions of dollars worth of assets for sale.

The U.S. Supreme Court tilts to the right-but how far will it go? The U.S. Supreme Court is undeniable move to the right In the past year. But nine judges of the Supreme Court made nearly 70 rulings during this term. In total, these rulings are better than some conservatives who were sworn in as liberal idol Ruth Budd at Amy Connie Barrett. Ginsberg’s replacement had hoped for more nuance.

Tech Tonic Podcast: Trust me, I am a robot What does it mean for artificial intelligence to enhance human perception?In the latest Tech Tonic episode, Madhumita Murgia took us to a village in rural India, where artificial intelligence was used to help doctors diagnose tuberculosis.

The internet wants to watch you eat Watching strangers eat is one of the strangest sights on the Internet-both disgusting and fascinating. If this sounds unattractive, it may be surprising to hear how popular this trend is. Write Elaine Moore.

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Health and fitness

Rosa Alpina Hotel & Spa in the Italian Dolomites is legendary. Equivalent luxury cabins and rustic mountain huts, with Michelin-starred destination restaurants.It joined Aman’s hotels and resorts last year as part of the new plan Multi-day extreme sports retreat. Discover more guaranteed resorts Push you to the limit.

Rosa Alpina Hotel & Spa in San Cassiano was founded by the Pizzinini family

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