JPMorgan Chase & Co. reported a smaller-than-feared drop in third-quarter profit on Friday, as a rise in interest income cushioned a blow from higher loan loss provisions and a slump in dealmaking due to a worsening economic outlook. Shares of the largest U.S. bank rose nearly 4 percent after the results, which are being closely…
JPMorgan Profit Beats Estimates on Gains From Higher Interest Rates
LIVE NOW: Sept. Inflation Up More Than Expected; WH Asked Saudis to Delay Oil Cuts by 1 Month | NTD Business
New consumer price numbers released today. Bad news is, inflation is likely not going down anytime soon. Good news for people on Social Security: They are going to see the biggest increase in four decades next year. A major U.S bank is cutting ties with Kanye West and his business after the rapper posted some…
Sept. Inflation Up More Than Expected; WH Asked Saudis to Delay Oil Cuts by One Month | NTD Business
New consumer price numbers have been released. The bad news is, inflation is likely not going down anytime soon. Good news for people on social security: They are going to see the biggest increase in four decades next year. A major U.S. bank is cutting ties with Kanye West and his business after the rapper…
JPMorgan to Hire About 2,000 Engineers Even as Economy Softens
PLANO, Texas—JPMorgan Chase & Co. plans to hire about 2,000 engineers worldwide through the end of the year despite a worsening economy, its global chief information officer, Lori Beer, said on Wednesday. The biggest U.S. lender added a net more than 5,000 software developers and data scientists last year and aims to attract a couple…
JPMorgan, BofA Cautious on Job Cuts as Goldman Layoffs Loom
NEW YORK—JPMorgan Chase and Bank of America, the two largest U.S. banks by assets, expressed caution about job cuts in contrast with Goldman Sachs, where hundreds of layoffs could start as early this month. “You need to [be] very careful when you have a bit of a downturn to start cutting bankers here and there…
JPMorgan’s Frankfurt Office Searched as Part of German Probe
LONDON—German authorities have searched the Frankfurt offices of JPMorgan Chase & Co., a bank spokesperson confirmed, as long-running investigations into one of the country’s biggest financial scandals affected another global lending giant. The share-trading scandal known as “cum-ex,” which has blighted German political and financial circles for several years, has cost taxpayers billions of euros,…
JPMorgan’s Jamie Dimon Warns of ‘Something Worse’ Than Hard Recession
JPMorgan CEO Jamie Dimon has predicted the likelihood of a downturn in the U.S economy and warned that “something worse” than a hard recession could be on the horizon. Dimon gave the estimations regarding the probability of a recession in a call with clients last week, according to a Yahoo Finance report published Saturday. The investment bank CEO noted…
Goldman Warns It May Slow Hiring, Cut Expenses as Deals Slump
July 19, 2022
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Business & MarketsGoldman Sachsinvestment bankingJPMorganMarketsMorgan StanleystocksU.S. Federal Reserve
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Goldman Sachs Group Inc on Monday warned it may slow hiring and cut expenses, as the economic outlook worsens, after reporting a 48 percent slump in quarterly profit which beat forecasts due to gains in fixed-income and commodities trading. U.S. Federal Reserve interest rate hikes, aimed at taming runaway inflation, have rattled global financial markets,…
JPMorgan CEO Warns of Looming Risks for Economy
July 15, 2022
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Business & MarketsCompanieseconomic recessioneconomyhigh inflationJamie DimonJPMorganrecessionU.S. economic growthUS
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JPMorgan CEO Jamie Dimon has warned about a potential economic slowdown even while noting that the American economy is growing, and both the job market and consumer spending remain healthy. “Geopolitical tension, high inflation, waning consumer confidence, the uncertainty about how high rates have to go, and the never-before-seen quantitative tightening and their effects on…
JPMorgan Suspends Buybacks, Warns on Global Economy as Profit Slumps
JPMorgan Chase & Co’s Jamie Dimon struck a cautious note on the global economy as America’s largest bank reported a worse-than-expected 28 percent fall in quarterly profit and suspended share buybacks in the face of growing risks of a recession. The chief executive also stressed the need to build capital reserves due to increasing requirements from…
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