The U.S. Virgin Islands is suing JPMorgan Chase & Co. over allegations that the banking giant aided convicted pedophile Jeffrey Epstein in illegally sex trafficking women and girls, according to a lawsuit filed on Dec. 27 in a Manhattan District Court. The lawsuit was filed on Dec. 27 in federal court in Manhattan. It lawsuit accuses JPMorgan of…
US Virgin Islands Sues JPMorgan Chase for Allegedly Aiding Jeffrey Epstein’s Sex Trafficking Scheme
‘This Is Serious’: JPMorgan Chase CEO Warns US Recession Coming in 6 to 9 Months
JPMorgan Chase CEO Jamie Dimon warned that the United States is likely going to head into recession territory in the next six to nine months, adding that the S&P 500 could fall by “another easy 20 percent” in the near future. “I mean, Europe is already in recession … and they’re likely to put the U.S….
LIVE NOW: CEO: Raising Tax on Small Biz Detrimental; Producer Price Index Near Record Highs | NTD Business
America’s biggest bank underperforms while building up its reserves in case of bad loans. What does this tell us about the economy? A new bill aims to raise taxes on small American businesses. We talk to a small business owner about how it will affect her. Hyundai unveils a new all-electric vehicle with a new…
CEO: Raising Tax on Small Biz Detrimental; Producer Price Index Near Record Highs | NTD Business
America’s biggest bank underperforms while building up its reserves in case of bad loans. What does this tell us about the economy? A new bill aims to raise taxes on small American businesses. We talk to a small business owner about how it will affect her. Hyundai unveils a new all-electric vehicle with a new…
JPMorgan Repeals CCP Virus Measures
JPMorgan Chase announced on Monday that it would be repealing the protective measures instituted to fight the CCP (Chinese Communist Party) virus in the workplace, including mandatory masking, vaccines, and testing. The largest bank in the United States, JPMorgan Chase & Co, made the announcement to its employees via a company-wide memo. “Effective immediately, masking…
Morgan Stanley Outperforms Rivals With Profit Beat
Morgan Stanley reported fourth-quarter profit which beat market expectations, outperforming rivals as its focus on advising wealth clients bore fruit, sending its shares up as much as 3.7 percent on Wednesday. The Wall Street investment bank also benefited from a boom in global dealmaking and keeping expenses in check at a time when its peers…
Higher Employee Wages Denting Profits of Major US Banks
January 19, 2022
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Major U.S. banks are seeing operating expenses rise as employee wages, along with bonuses and compensations, go up in a tight Omicron-tainted labor market where companies struggle to hire and retain workers. Investment bank Goldman Sachs was forced to increase compensation and benefits to hold on to their staff, leading to a 23 percent surge…
JPMorgan Shares Fall as Mixed Outlook Sours Profit Beat
JPMorgan Chase & Co. posted fourth-quarter profit ahead of market expectations on Friday, but its shares fell as much as 6 percent as analysts expressed disappointment over its forecasts for future profitability. The country’s largest bank warned that its return on tangible capital equity (ROTCE), a key metric which measures how well a bank uses…
Wall Street Ends Down, Investors Eye Inflation and Omicron
Wall Street ended lower on Tuesday after data showed producer prices increased more than expected in November, solidifying expectations the Federal Reserve this week will announce a faster wind-down of asset purchases. The fast-spreading Omicron coronavirus variant also dampened investor sentiment after the S&P 500 index hit an all-time closing high late last week. Declines…
Goldman Bets Big on Paymentus’ Relation With PayPal, JPMorgan
Goldman Sachs analyst Will Nance initiated coverage on Paymentus Holdings Inc. with a Buy rating and $41 price target, representing 44 percent upside. The analyst believes the market is overly pessimistic on its ability to see accelerating revenue momentum given its recent messaging around revenue visibility. Further, Paymentus’s partnerships with PayPal Holdings Inc. and JPMorgan…
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