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Banks win bid to block $3.6 billion mass forex UK lawsuit

Major banks including JPMorgan, UBS, and Citigroup won a bid to block a $3.6 billion mass lawsuit over alleged forex rigging. The lawsuit, led by Phillip Evans, was based on findings by the European Commission. The UK Supreme Court reinstated the decision to refuse the case on an opt-out basis.

Reuters·
US
JPM
-0.18%
US
C
+0.16%
Reuters·
US
JPM
-0.18%
US
C
+0.16%

Firethorn Wealth Partners LLC Reduces Stock Position in SoFi Technologies, Inc. $SOFI

Firethorn Wealth Partners LLC reduced its stake in SoFi Technologies, Inc. by 57.1% in the third quarter, selling 151,096 shares. The firm's holdings in SoFi are now worth $2,996,000. Other institutional investors also adjusted their positions in SoFi. SoFi's stock opened at $25.27 with a market cap of $30.47 billion. The company reported $0.11 EPS for the quarter, beating estimates. Insiders sold 66,508 shares recently. Barclays raised its price target for SoFi to $23.00.

Market Beat·
US
SOFI
-4.93%
Market Beat·
US
SOFI
-4.93%

Czech National Bank Raises Stock Position in Mastercard Incorporated $MA

Czech National Bank increased its stake in Mastercard by 5.7% in Q3, now holding 209,657 shares worth $119.3 million. Mastercard is the bank's 16th largest position. Analysts maintain a strong buy rating, with an average price target of $654.81. Mastercard's Q3 earnings beat expectations with $4.38 EPS and $8.60 billion revenue, up 16.7% year-over-year. The stock opened at $564.92, with a 52-week range of $465.59 to $601.77.

Market Beat·
US
MA
-0.10%
Market Beat·
US
MA
-0.10%

ZAWYA-PRESSR: Mastercard Consumer Shopper Snapshot 2025 reveals growing shift towards intentional holiday shopping in UAE

Mastercard's Consumer Shopper Snapshot 2025 reveals UAE holiday shoppers prioritize value, use omnichannel methods, and increasingly rely on AI for purchases. The report highlights strategic shopping behaviors, with consumers planning early, comparing prices, and responding to personalized discounts. Physical stores and e-commerce platforms are popular, while AI aids in finding deals and personalized suggestions. Positive holiday emotions prevail, with indulgent gifts trending. Mastercard aims to empower economies through digital payments.

Zawya·
US
MA
-0.10%
Zawya·
US
MA
-0.10%

Nature's NFTs? How These Companies Fractionalize Rare Woods From Trees For Global Trade

Chinese companies are tokenizing rare Huanghuali trees and other commodities to address liquidity issues. Firms in Hainan are converting these trees into digital assets to infuse capital into industries with cash flow problems. Geely Technology Group plans to generate $13 million through tokens in Hong Kong. This marks one of the first attempts at tokenizing biological assets. Other Chinese goods like fine tea and high-end baijiu liquor are also being digitized. Analysts see real-world asset tokenization as a key institutional focus, with major firms like BlackRock and JPMorgan developing projects.

benzinga_article·
US
JPM
-0.18%
US
GELYY
0.00%
HK
00175
+1.39%
benzinga_article·
US
JPM
-0.18%
US
GELYY
0.00%
HK
00175
+1.39%
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