The four largest U.S. banks gave downbeat economic outlooks for 2023, even as their fourth-quarter results topped analysts’ expectations on Friday. JPMorgan Chase & Co. said it expects a “mild recession” this year while Bank of America, Citigroup and Wells Fargo all mentioned deteriorating economic conditions. Each bank beat analysts’ predictions for fourth-quarter results. JPMorgan’s...
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The Briefing asia policy
What Sequoia Should Have Said
I remember my jaw dropping last year when The Information’s Juro Osawa reported that Sequoia China was in talks to raise more than $8 billion in new funding from U.S. investors and others.I was baffled. I just couldn’t imagine that Sequoia, which had picked a slew of winners in the U.S. and China ranging from Google to Meituan, was going to continue to draw such inflows from the U.S. to its...
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