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Jamie Dimon, President & CEO,Chairman & CEO JPMorgan Chase, speaking on CNBC's Squawk Box at the World Economic Forum Annual Meeting in Davos, Switzerland on Jan. 17th, 2024. JPMorgan Chase CEO Jamie Dimon isn't worried about the added competition from a bulked-up Capital One if its $35.3 billion takeover of Discover Financial gets approved. Dimon, speaking to CNBC's Leslie Picker from a Miami conference, acknowledged that if regulators approve the Capital One-Discover deal, his bank will be eclipsed as the nation's biggest credit-card lender. The deal has two major components: the credit card business and the payment network, Dimon noted. It's unclear if Capital One can create a true alternative to the dominant card networks in Visa and Mastercard with this deal, Dimon said.
Persons: Jamie Dimon, JPMorgan, JPMorgan Chase, Jamie Dimon isn't, Dimon, CNBC's Leslie Picker, Richard Fairbank, Richard Organizations: JPMorgan Chase, JPMorgan, Discover Financial, Capital, Visa, Mastercard, American Locations: Davos, Switzerland, Miami
JPMorgan CEO Jamie Dimon isn't happy about the way things are playing out in San Francisco. The city "is in far worse shape than New York" and needs lower rents to attract workers, he told Fox Business. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementSan Francisco "is in far worse shape than New York," Jamie Dimon, the CEO of JPMorgan, told Fox Business while in the city for his company's annual healthcare conference. Asked by "Mornings with Maria" host Maria Bartiromo about his thoughts on San Francisco, Dimon said: "Any city who doesn't do a good job, it will lose its population."
Persons: Jamie Dimon isn't, , Jamie Dimon, Maria, Maria Bartiromo, Dimon Organizations: Fox Business, Service, JPMorgan, Business Locations: San Francisco, New York, San Francisco's, Francisco
Startup workers are on edge
  + stars: | 2023-10-25 | by ( Dan Defrancesco | ) www.businessinsider.com   time to read: +8 min
In today's big story, we're looking at why startups that have navigated multiple rounds of layoffs have left their workers feeling defeated. It's a question more and more startup employees are contemplating amid a historic downturn in the industry coupled with a pullback in VC funding. But as Insider's Samantha Stokes and Madeline Renbarger detail, employees are on edge nowadays because of the threat of multiple layoffs in a short time. Why work for a corporate entity and be a cog in the wheel when you can get hands-on experience at a startup? AdvertisementAdvertisementiStock; Rebecca Zisser/InsiderBut just because layoffs are a necessary evil of the startup industry, that doesn't mean employees' concerns aren't warranted.
Persons: , Jamie Dimon isn't, JPMorgan's Jamie Dimon isn't, Samantha Lee, Samantha Stokes, Madeline Renbarger, Samantha, Madeline they've, Rebecca Zisser, Severance, Jamie Dimon, David Rosenberg, Myriam, Airism, Arantza Pena Popo, Chris Rondeau, it's, Katy Perry, Pablo Picasso, Kiersten, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, What's, JPMorgan, EV, Microsoft, TikTok, IBM, Boeing, Meta, Mattel Locations: Southern California, New York City, San Diego, London, New York
What you need to know todayThe bottom lineGoing into this earnings season, analysts feared big banks' income wouldn't hold up from the previous quarters. Net interest income, in particular, was higher than expected. interest rate on their savings, and charge borrowers a high interest rate, usually pegged to the federal funds rate. On the contrary, net interest income rose from a year ago at JPMorgan and Wells Fargo , and beat expectations at Citigroup . Dimon acknowledged that his bank's "over-earning" on net interest income, a benefit that will vanish eventually.
Persons: Michael Nagle, Wells, Jamie Dimon isn't, Dimon, Larry Fink, that's Organizations: JPMorgan Chase &, Bloomberg, Getty, CNBC, . Treasury, JPMorgan, Citigroup, Nasdaq, Dow Jones Industrial, University of Michigan's Locations: New York, Wells Fargo, Ukraine, Israel
JPMorgan CEO Jamie Dimon hasn't got a pay raise for 2022 as the Wall Street giant faces economic headwinds. Dimon earned $34.5 million for his work last year, unchanged from the previous period, per Reuters. The bank's board members voted against granting any "special awards" to Dimon in the future. Board members also vetoed granting Dimon any special awards in the future, following shareholder pushback last year against a proposed $50 million payout for 2021. Although Dimon didn't get a raise, the bank's board members didn't hold back praise for him.
JPMorgan CEO Jamie Dimon sounded the recession alarm earlier this week, saying he sees one in 6 to 9 months. But on Friday, the bank said it's growing headcount and moving forward with aggressive spending plans. But notable among JPMorgan's financial figures was headcount growth. This quarter, headcount overall at the bank was 9% higher than the same time last year, at roughly 288,000 employees worldwide. The growth in employees at JPMorgan came in contrast to Wells Fargo, which also reported earnings Friday.
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