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The Latest Breaking News from JPMorgan

These major banks see a "mild recession" coming in 2023

JPMorgan Chase, Bank of America and Citigroup are bracing for an economic downturn in 2023, including an uptick in unemployment, even as they continue to benefit from strong consumer spending and higher interest rates.

Axios

Jamie Dimon is waffling on his economic ‘hurricane’ take yet again. His bank is now calling a ‘mild recession’ later this year

Wall Street banks are building cash reserves to cope with a “mild recession.” It’s a more optimistic outlook than some CEOs have previously offered.

Fortune

JPMorgan is accusing the 30-year old founder of fintech startup Frank of fraud—after paying $175 million for her company

Less than two years after buying Frank, the bank claims that Frank’s management invented numbers it provided during the due diligence process.

Fortune

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Millennial founder who sold her fintech to JPMorgan sued for inventing customers

Charlie Javice launched Frank six years ago to help students grappling with the soaring cost of college tuition to afford higher education, but Chase alleges 93% of her customers were fictitious.

Fortune

Jamie Dimon rattled the markets last year by comparing the coming recession to a 'hurricane.' Now he says it's just some 'storm clouds'

JPMorgan Chase CEO Jamie Dimon says he shouldn't have used the word "hurricane" to describe what lies ahead for the U.S. economy last year, but adds that there still are "storm clouds" and "heightened uncertainty."

Fortune

World Bank: Recession a Looming Threat for Global Economy

The global economy will come “perilously close" to a recession this year, led by weaker growth in all the world's top economies — the United States, Europe and China — the World Bank warned on Tuesday. In an annual report, the World Bank, which lends money to poorer countries for…

Asharq Al-Awsat

World Bank warning: Global economy is at risk of recession

The global economy will come “perilously close” to a recession this year, led by weaker growth in all the world’s top economies — the United States, Europe and China — the World Bank warns

The Independent UK

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This new JPMorgan job comes with an annual restaurant budget of $30,000 on top of a salary up to $130,000

The successful applicant will take on the role of editor at The Infatuation, a restaurant review platform recently acquired by the banking giant, with a salary ranging from $85,000 to $130,000.

Fortune

Epstein's sex trafficking was aided by JPMorgan, a U.S. Virgin Islands lawsuit says

The U.S.V.I. says JPMorgan Chase didn't report Jeffrey Epstein's suspicious financial activities and provided him banking services after his 2008 conviction for soliciting a minor.

WEKU

US Virgin Islands district attorney fired days after suing JP Morgan Chase over Jeffrey Epstein ties

Virgin Islands Governor Albert Bryan said he had ‘relieved’ Denise George of her duties amid reports he was unaware of a lawsuit filed against JP Morgan Chase

The Independent UK

Michael Hiltzik: Wells Fargo got slammed with a $3.7-billion penalty. So why doesn't it sound sorry?

The Consumer Financial Protection Bureau left very little unsaid when it announced, a few days before Christmas, $3.7 billion in assessments against Wells Fargo Bank for more than a decade of legal violations harming its millions of customers.

Los Angeles Times

Wall Street’s big banks score $1 trillion of profit in a decade

Malick Diop felt something shifting on Wall Street.

The Times of India

How top CEOs from Elon Musk to Tim Cook tackled the big return-to-office in 2022

Lizzo concerts and subsidized butlers have been among the perks offered in the push for a return to in-person working this year.

Fortune

US banks named as being among least ethical UK operators

A new study scores the best and the worst accounts based on key issues such as climate and tax avoidance

The Guardian - UK

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Fortune

Crypto is as useful as a ‘pet rock,’ according to JPMorgan's Jamie Dimon

The JPMorgan CEO has previously called cryptocurrencies dangerous, worthless and a “Ponzi scheme.”

Fortune

Goldman Sachs CEO says clients are shifting away from supply chain resiliency to keeping headcount down, but 'I'm not hearing panic'

Big banks weigh in on inflation, a pending recession, and consumer spending.

Fortune

A top Wall Street strategist thinks the December rally is finished

Wall Street’s top strategist and biggest bear Mike Wilson thinks the December rally is over and is back to selling again.

The Times of India

GIFT City: India's free-market oasis aims to take on Singapore and Dubai

AHMEDABAD: India's newest financial hub is rising from scrubland near the banks of the Sabarmati River once dominated by marsh birds and grazing buffalo.

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news in one place.

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Fortune

How a 28-year-old is transforming the ‘male, pale, and stale’ personal finance industry to become everyone’s ‘Rich BFF’

Vivian Tu considers her content to be a “gateway drug” into personal finance that lets people dip their toe in without being overwhelmed.

Tribune News Service

Republicans ride ESG backlash to state financial offices

WASHINGTON — Republicans picked up state financial officer positions during the midterm elections amid a campaign against environmental, social and governance investing.

Roll Call

Republicans ride ESG backlash to state financial offices - Roll Call

Republican candidates flipped five state offices that manage investments in a backlash against using ESG factors in investment decisions.

Benzinga

Facebook Stalls Portal & Smartwatch Projects, Visa Breaks Debit Card Tie Up With FTX, $3B Bitcoin Withdrawn From Crypto Exchanges: Top Stories Monday, Nov. 14

Reuters

Fortune

Sam Bankman-Fried needs $4 billion. Fast.

Bankman-Fried apologized to investors and said he would be “incredibly, unbelievably grateful” if they could help out.

Bangkok Post

Investors expect crypto turmoil to get worse

Cryptocurrency markets endured heavy losses on Thursday, with bitcoin near a two-year low as investors fretted about the fallout from the implosion of FTX, the world’s second-largest crypto exchange.

Fortune

The Fed is pushing the economy ‘quite unnecessarily’ into a recession, J.P. Morgan strategist says

A recession is likely next year, but it may have been avoidable.

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