JP Morgan revised its oil outlook around the Strait of Hormuz. Even with a base case that assumes a June 1 reopening after a credible announcement confirmed by both sides, the bank expects Brent to remain anchored in the low 100s. The key driver is the projected pace of oil inventory depletion, which should eventually force reopening regardless of timing.
Former JP Morgan banker Chirayu Rana has filed updated court materials in his sexual abuse lawsuit against executive Lorna Hajdini, days after fresh claims went public. The new filing includes an account from an anonymous friend alleging Hajdini invited him and Rana into a threesome while intoxicated. Rana also reiterates claims that he was drugged and pressured over his bonus.
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Meesho shares jumped nearly 10% after JP Morgan initiated coverage with an Overweight rating and a Rs 215 target price. The brokerage expects EBITDA margin expansion and strong net merchandise value growth, fueled by advertising monetization and logistics improvements. It also projects a recovery in free cash flow, betting that Meesho’s market leadership can sustain further gains.
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