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Futures News, September 16th: Crude oil prices have recently been experiencing strong fluctuations. While the gains have been modest, a clear bottom line is evident. This is primarily due to geopolitical tensions, including Ukraines escalating attacks on oil facilities in a European country and the Polish drone issue. The return of a geopolitical premium has boosted bullish market sentiment. Zhuochuang Information predicts that this geopolitical escalation has led to an oil market premium, but negative fundamentals are weighing on oil prices. Saudi Arabias production increases and weak demand are both contributing to a buildup of crude oil inventories. Therefore, while oil prices may remain strong in the short term, they remain under pressure in the long term.On September 16th, Brazilian President Lula da Silva met with Didi founder and CEO Cheng Wei and executives from Didi and its subsidiary, 99. 99 announced an additional investment of R$2 billion (approximately RMB 2.6 billion) in its food delivery platform, 99Food, to be fully operational by June 2026. 99Food currently operates only in São Paulo and Goiânia, and this new round of investment will fuel rapid service expansion, with plans to cover 15 cities by the end of the year and 20 more by January 2026. Wang Simong, 99 Brazil General Manager, explained that R$50 million (approximately RMB 65 million) of the investment will be used to build support points for delivery drivers, providing rest areas, drinking water, and sanitation facilities. In addition, 99 will launch a R$6 billion (approximately RMB 7.8 billion) welfare support program, including credit support for delivery drivers to purchase and lease electric scooters and bicycles.Japanese Finance Minister Katsunobu Kato declined to comment on the factors behind the stock market fluctuations.Japanese Finance Minister Katsunobu Kato: Japan is committed to complying with WTO rules, but at the same time will consider taking measures to increase pressure on Russia and coordinate with the G7.Hong Kong-listed Fosun Pharmaceutical (01652.HK) saw an unusual rise, surging 400% at one point during the session before the increase narrowed to 355%. The share price is now trading at HK$1.55.

JPMorgan Denies Responsibility For Its Top Banker's Jeffrey Epstein Ties

Haiden Holmes

Feb 23, 2023 11:58

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JPMorgan Chase & Co (NYSE:JPM) stated on Wednesday that it should not be held culpable for a former executive's relationship with Jeffrey Epstein in a lawsuit accusing the largest U.S. bank of aiding its former client's sex trafficking operation.


JPMorgan stated in a court filing in Manhattan that emails between former executive Jes Staley and Epstein did not support the U.S. Virgin Islands' claim that Staley could "detect Epstein's sex trafficking."


In addition, the bank stated that there was no evidence that Staley's personal travel to the islands or alleged inappropriate emails were part of his employment, and that even if Staley had helped "direct" Epstein's sex trafficking, "his conduct would have been far beyond his authority as a JPMC employee."


JPMorgan stated in its motion to dismiss the "misdirected and deficient" lawsuit that there was no plausible explanation for how it could have known about Epstein's malfeasance and profited from it during the years 2000 to 2013.


Attorneys for the United States Virgin Islands did not respond promptly to requests for comment. Staley is not an accused.


In August of 2019, Epstein committed suicide in a Manhattan prison cell while awaiting prosecution on sex trafficking charges.


JPMorgan's dismissal motion was filed one week after a court filing alleged that Staley and Epstein had exchanged approximately 1,200 sexually explicit emails between 2008 and 2012.


In 2008, Epstein pled guilty to a Florida state prostitution charge.


Staley, the former head of private finance at JPMorgan, has admitted to having a friendship with Epstein, but he has disputed knowledge of his alleged crimes.


Staley became CEO of Barclays (LON:BARC) Plc after leaving JPMorgan, but resigned in November 2021 amid a dispute with British financial regulators investigating his connections to Epstein.


In December 2022, the U.S. Virgin Islands filed a lawsuit against JPMorgan for unspecified damages, alleging that the bank should have been aware of Epstein's misconduct on a private island he owned there.


JPMorgan and Deutsche Bank AG (NYSE:DB), where Epstein was a client from 2013 to 2018, are also being sued by Epstein's victims. Both institutions are pursuing dismissals.


Case number 22-10904 is Government of the U.S. Virgin Islands v. JPMorgan Chase Bank NA in the U.S. District Court for the Southern District of New York.

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