Category: 3. Business

In a recent interview with Bloomberg Television, Winters was unequivocal: “We work with adults, and the adults can have an adult conversation with other adults and decide how they’re going to best manage their team.” He emphasized that the approach is “working for us,” adding, “How other companies make that work? Everybody’s got their own recipe.” For Standard Chartered, that recipe is rooted in flexibility, allowing teams and managers to agree on in-office schedules that fit their business needs and personal lives.

Winters, who himself follows a hybrid schedule and aims to be in the office four days a week, says his approach is about fostering responsibility. “Our MDs want to come to the office. They come to the office because they collaborate. They manage their people. They lead teams. But if they need the flexibility, they can get it from us,” he said. This hands-off stance has helped the bank retain talent, keep attrition low, and, according to Winters, maintain a productive workforce that manages to deliver results in a post-pandemic landscape.

Standard Chartered’s performance is thriving at the moment. In the second quarter of 2025, the bank reported a 48% jump in pre-tax profit—performance Winters points to as validation of the flexible model. On the second-quarter earnings call with analysts, Winters commented on the strong results, saying they are “testament to our ability to deliver exceptional services in support of our clients’ needs, and it is clear that our strategy is working.”

A bank unlike the others

The bank’s flexible policy stands in contrast to a growing wave of office mandates from industry rivals. JPMorgan, Goldman Sachs, and HSBC have all tightened office attendance requirements in the last year. JPMorgan CEO Jamie Dimon has criticized remote work for slowing decision-making and inhibiting innovation, recently directing most employees to return to the office full-time. Goldman Sachs CEO David Solomon has similarly dismissed remote work as “not a new normal” but an “aberration that we are going to correct as quickly as possible.” HSBC, too, recently directed its managing directors to return to the office at least four days a week.

Other banks, like Citi, remain more flexible but still require at least three days of in-office attendance, while offering hybrid employees set windows for remote work. The trend across many sectors, including tech and telecommunications, is toward stricter in-office requirements, with some large employers warning that ongoing remote work could put jobs at risk.

Despite these pressures, Standard Chartered is holding its ground. Winters and the bank’s leadership remain vocal in their conviction that flexibility works—citing strong business results, low attrition, and positive feedback from employees, especially those balancing care responsibilities or preferring non-traditional schedules. The company was among the first major banks to formally adopt hybrid work in November 2020 and has shown little inclination to change course, even as industry sentiment shifts.

Companies who stand by remote or flexible work schedules say it leads to a better talent pool, less turnover, and a happier workplace, while critics say it’s corrosive to the human element that goes with great teamwork. Winters dismisses such concerns. He insists that, with the right leadership, teams remain collaborative and engaged, and that forcing staff into rigid molds can actually hinder, rather than help, performance.

As Wall Street and other sectors debate the future of work, Standard Chartered’s approach offers a compelling case study in the value—and business logic—of empowering employees to strike their own balance.

Standard Chartered did not respond to a request for comment.

For this story, Fortune used generative AI to help with an initial draft. An editor verified the accuracy of the information before publishing. 

Praxis Precision Medicines, Inc. (NASDAQ:PRAX) stock experienced a volatile trading session on Monday, after the company announced positive topline results from its Phase 2 RADIANT study evaluating vormatrigine in patients with focal onset seizures and generalized epilepsy.

The stock initially surged on the news, but then reversed course and is currently trading down approximately 9%.

The central nervous system (CNS) disorders-focused company said the topline results from the Phase 2 RADIANT study included data from 37 patients.

Also Read: Praxis Precision Medicines ‘A Diversified Player In Epilepsy Market,’ Analyst Sees Over 100% Stock Upside

“These findings build on our earlier clinical data showing a differentiated profile for vormatrigine as a fast-acting, no-titration, once-daily oral drug with no requirement to be taken with food, and a favorable DDI profile, all of which are unseen in ASMs currently in the market or in development,” said Marcio Souza, president and CEO of Praxis.

In an investor presentation on the company website, Praxis noted that the trial showed a median seizure reduction of around 56.3%, with 60% of the patients achieving at least a 50% reduction in seizures.

This positive outcome has encouraged the company to move forward with a Phase 2/3 trial, even though 23% of patients discontinued the study.

54% of patients achieved at least a 50% seizure reduction threshold in Week 1 and 67% in Week 8. In the last month of the dataset, 22% of the patients experienced a 100% reduction in seizure frequency.

The company added that most adverse events were mild to moderate and transient. All severe and serious adverse events (AEs) were recovered and resolved.

The investor presentation noted that the investigators had the option to reduce the dose of the background medication to manage AEs; when done (6 patients), no discontinuation was observed.

The company said it is on track to complete the pivotal, 12-week POWER1 study in the fourth quarter of 2025 and, based on the results from RADIANT, it expects to initiate the POWER2 study shortly.

On Monday, the company reported cash and investments of approximately $447 million and maintains a cash runway into 2028.

In July, the U.S. Food and Drug Administration (FDA) granted Breakthrough Therapy Designation for Praxis Precision’s relutrigine, a sodium channel functional state modulator for pediatric use for SCN2A and SCN8A developmental and epileptic encephalopathies (DEEs).

The EMBOLD cohort 2 pivotal trial is on track for topline results in the first half of 2026, with NDA filing to follow.

Praxis has recently initiated the EMERALD study investigating relutrigine broadly in DEEs.

Price Action: PRAX stock is trading lower by 9.51% to $48.95 at last check Monday.

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We came across a bullish thesis on JPMorgan Chase & Co. on Long-term Investing’s Substack by Sanjiv. In this article, we will summarize the bulls’ thesis on JPM. JPMorgan Chase & Co.’s share was trading at $298.62 as of July 25^th. JPM’s trailing and forward P/E were 15.31 and 15.92 respectively, according to Yahoo Finance.

An executive in a suit walking across the lobby of a modern commercial bank.

JP Morgan (JPM) reported another quarter of robust results, reflecting strong performance across all three business segments—Consumer and Community Banking, Commercial and Investment Banking, and Asset and Wealth Management—against a backdrop of a weaker U.S. dollar and postponed tariff risks. Q2 2025 revenue was $42 billion, down 12% year-over-year due to non-recurring accounting gains in the prior year, while underlying revenues grew at a single-digit pace. Net income reached $15 billion with ROTCE at 21%.

Consumer and Community Banking revenue rose 6% to $18.8 billion, driven by 15% growth in card services and auto. Commercial and Investment Banking revenue climbed 9% to $19.5 billion, led by a 15% surge in Markets, broad-based gains across fixed income and equities, and improved underwriting fees. Asset and Wealth Management grew 10% to $5.8 billion, benefiting from net inflows of $31 billion and higher market levels.

Management emphasized a “fortress balance sheet,” with CET1 capital at 15.1% and significant excess regulatory capital that could be unlocked if Basel III rules are relaxed, enabling faster capital returns via dividends and buybacks. While credit conditions remain benign and all segments are firing on “all cylinders,” management cautioned about cyclical risks, trade uncertainty, and elevated asset prices.

Trading revenues were notably resilient, bolstered by deliberate capital deployment. At $292 per share, JPM trades at 14.6× forward earnings with a 6.8% earnings yield and 2.1% dividend yield. Prospective returns are seen at 7–10% annually over 5–7 years. Despite regulatory headwinds, JPM remains best-in-class, supported by its scale, strong capital position, and capacity for capital returns, though management is reluctant to repurchase stock near three times tangible book.

Previously, we covered a bullish thesis on JPMorgan Chase & Co. by Pacific Northwest Edge in March 2025, which highlighted JPM’s systemic importance, efficient capital deployment, and long-term compounding ability. The stock has appreciated about 25% since our coverage, as earnings and credit quality stayed strong. The thesis remains valid, and Sanjiv shares a similar view but stresses record earnings, segment growth, and regulatory-driven capital returns.

Story continues

David Ellison’s Skydance Media has unveiled its leadership structure for Paramount, beginning a shake-up as the Shari Redstone era winds to a close.

Ellison will become chairman and chief executive of the new Paramount Skydance Corp. with a goal of reviving the legendary entertainment company. The structure will largely be decentralized with Ellison entrusting his division heads with considerable power.

Skydance’s $8.4-billion takeover is scheduled to close Thursday.

RedBird Capital Partners executive and former NBCUniversal chief Jeff Shell will be the company’s president, overseeing day-to-day operations of the television businesses.

Only one current top Paramount executive — Co-Chief Executive George Cheeks — will remain. Cheeks becomes chairman of TV media, which includes the CBS properties and cable TV channels, including MTV, Comedy Central, Nickelodeon and BET.

Dana Goldberg, who has worked with Ellison for nearly 15 years, will rise to co-chair of Paramount Pictures alongside Josh Greenstein, who until last week was Sony Pictures’ motion pictures president. In addition to overseeing the Melrose Avenue film studio, Goldberg will run Paramount Television Studios and Nickelodeon Films. In recent years, Goldberg has served as Skydance’s chief creative officer.

Greenstein moves back to Paramount, where he previously served as marketing president before leaving for Sony in 2014.

Cindy Holland, a former top Netflix programmer, will run the streaming services, Paramount+ and Pluto, making her a major player in the new company.

Holland spent 18 years at Netflix, working on such shows as “House of Cards,” “Grace and Frankie,” and “Stranger Things,” until her 2020 departure. She briefly ran the Elisabeth Murdoch production studio, Sister, until joining Ellison last year as an advisor.

“This world-class team is uniquely equipped to rise to the occasion and deliver on our bold vision for a new Paramount,” Ellison said in a statement.

The new organizational structure comes after the Federal Communications Commission, led by President Trump-appointed Chairman Brendan Carr, approved the Skydance-Paramount merger after a political tug-of-war with the president and his team.

In late July, the FCC voted 2-1 to approve the deal and transfer 28 CBS television station licenses to billionaire Larry Ellison and his family. The sole Democrat on the panel dissented, citing a regulatory review that she said invited abuses of power.

Skydance is buying Paramount with RedBird, which gives the private equity firm considerable sway in managing Paramount. In addition to Shell, former Goldman Sachs banker Andy Gordon — who led RedBird’s Los Angeles office as a partner — will become Paramount’s chief operating officer and chief strategy officer.

Stephanie Kyoko McKinnon, Skydance’s general counsel, will join Paramount in the same role, overseeing legal, regulatory, and compliance matters across the company’s global operations. She will also serve as acting chief legal officer.

Melissa Zukerman becomes Paramount’s chief communications officer, serving as chief spokesperson, head of global communications, social responsibility and a key Ellison advisor.

Former Amazon executive Jim Sterner becomes Paramount’s chief people officer, responsible for human resources and shaping the corporate culture that “fuels innovation and long-term business success,” the company said.

Paramount’s other two co-chief executives — Chris McCarthy and Brian Robbins — are leaving the company this week.

The Skydance takeover ends 38 years of Redstone control.

Their Hollywood empire was diminished by years of cost-cutting and viewership losses which prompted Shari Redstone to find a buyer in late 2023. Her family was seeking an exit amid their mounting debts.

Redstone, the daughter of entertainment titan Sumner Redstone, and Paramount’s board agreed to the Skydance takeover in July 2024 after months of drama and churn among its board of directors.

As part of the transaction, the Redstone family investment firm National Amusements will receive $2.4 billion for its controlling shares in the company. Those shares will pass to Larry Ellison and RedBird, which will hold a minority stake in National Amusements.

The deal is expected to inject $1.5 billion into Paramount’s balance sheet to help the firm pay down debt.

The Ellison’s Santa Monica based Skydance will eventually be folded into Paramount.

Skydance is expected to usher in additional steep rounds of layoffs at Paramount. RedBird executives have promised Wall Street that it will find $2 billion in cost savings.

The controversial FCC vote approving the Skydance-Paramount merger came just three weeks after Paramount agreed to pay Trump $16 million to settle the president’s lawsuit over edits to a “60 Minutes” broadcast last fall. Trump had claimed CBS producers deceptively edited the October interview with then-Vice President Kamala Harris to enhance her election chances.

CBS denied his allegations, saying the edits were routine. The unedited video showed that while Harris’ answer was clipped, she was accurately quoted. 1st Amendment experts and journalists decried the settlement, which will steer much of the money to Trump’s future presidential library.

Trump has said that Skydance is throwing in another $20 million in public service announcements and other free programming as part of the lawsuit settlement. Trump has said on social media the value of his payout was about $36 million.

As part of its agreement with the FCC, Ellison pledged to abandon all diversity, equity and inclusion programs at Paramount.

Skydance also agreed to “promote transparency and increased accountability” at CBS News. The company said it would install an ombudsman, reporting to Shell, “to receive and evaluate any complaints of bias or other concerns involving CBS” for at least two years.

Credit: shutterstock/kamilpetran

Korea’s Fair Trade Commission has fined Asiana Airlines €7.6 million and is also seeking criminal sanctions against the carrier for breaching key behavioural remedies tied to its merger with Korean Air.

Italian design legend passes 

The prolific Italian designer has died aged 88 after an immense half century in the business 

The industry has lost another design legend in Ercole Spada.
The Italian is credited with a raft of hugely successful models throughout his career, but particularly so during the
1960s with brands including Alfa Romeo, Fiat, Lamborghini and Lancia. 

From the ’70s through to the 90s he would turn his hand to other major nameplates in Volvo, Ford and BMW, working on models such as the GTZ concepts, GT70 and iconic E34 and E32 generation 5- and 7-Series, respectively. 

Towards the end of his career, he would go on to form the
design house Spadaconcept, working alongside his son Paulo, who remains the CEO of the company today in Turin. 

Spada was listed among other design royalty in a recent book, Made in Italy, compiled by ex-Bertone designer Piotr Degler. Though his portfolio consists primarily of Italian brands — or those with Italian styling via Zagato — Spada’s greatest work is often credited to the Aston Martin DB4 Zagato, a project he worked on during his early twenties no less. 

It was a broad and eclectic career for Spada who despite naturally being furnished with rare and beautiful sports cars to design, also worked on more humble nameplates like the Hillman Imp, Fiat Tipo and second-generation Nissan Terrano SUV. 

Born in northern Italy in 1937, Ercole Spada died on 3 August 2025, aged 88. 

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