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JPMorgan admits it misjudged by backing breakaway European Super League


JPMorgan said on Friday it regretted supporting soccer clubs in launching a breakaway European Super League after the plan collapsed earlier this week due to a storm of protest from fans and politicians.
We clearly misjudged how this deal would be viewed by the wider football community and how it might impact them in the future, a representative for the bank said.
We will learn from this.
JPMorgan provided a 3.5 billion euro ($4.2 billion) grant to the founding clubs to spend on infrastructure and recovery from the impact of the COVID-19 pandemic.
The bank was the sole lender to the new soccer competition which was masterminded by Real Madrid s president Florentino Perez. ....

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Dow Jones shares: Dow Jones hits fresh record high after bumper earnings from big banks


The three main Wall Street indexes ended Friday higher for the day and week, with the S&P 500 and the Dow breaking closing records, as investors took strong economic data and bank earnings as signs of momentum in the U.S. pandemic recovery.
Nine of the 11 S&P sub-sectors rose on Friday. The energy and information technology indexes were the exceptions. The former, dipping 0.9%, was weighed by lower oil prices, while the latter was marginally lower, the day after its highest-ever close.
The S&P 500 and the Dow Industrials recorded their fourth straight week of gains. The S&P 500 scored three closing highs this week, while the Dow surpassed its best finish two days running. ....

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