JPMorgan Chase cuts ties with Purdue Pharma over alleged role in opioid crisis

Move makes the bank the most high-profile corporation to have distanced itself from the OxyContin maker and the Sackler family Banking giant JPMorgan Chase has cut ties with Purdue Pharma over the OxyContin makers alleged role in the US opioids crisis, forcing the prescription painkiller manufacturer to find a new bank to manage cash and bill payments, people familiar with the matter said on Thursday. The move makes JPMorgan, the largest US bank by assets, the most high-profile corporation known to have distanced itself from Purdue and its wealthy owners, the multibillionaire members of the Sackler family, amid Original Article : HERE ; This post was curated & posted using : RealSpecific

Hedge fund of investor who inspired The Big Short takes position on Barclays

Neuberger Berman bet worth 348,000 adds to positions against Lloyds and RBS The American hedge fund of the investor depicted in the Oscar-winning Hollywood film collapse of thea book by Michael Lewis, won an Academy award for best adapted screenplay. Eisman moved to New York-headquartered Neuberger Berman, which spun out of Lehman Brothers, in 2014 after reportedly helping FrontPoint, a subsidiary of Morgan Stanley, to double its assets to $1.5bn during the crash. Neuberger Bermans bet against Barclays adds to positions against Lloyds Banking Group and Royal Bank of Scotland, worth $446,000 and $529,000 respectively, which the hedge fund previously disclosed. Short-selling involves borrowing shares in a company and selling them with the expectation of buying them back at a …