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☆ Weekly jobless claims jump to 231,000, the highest since August
▼ + stars: | 2024-05-09 | by ( ) www.cnbc.com time to read: +2 min

Initial filings for unemployment benefits hit their highest level since late August 2023 in a potential sign that an otherwise robust labor market is changing. Also, job openings have been declining amid expectations that the labor market is likely to slow through the year. The four-week moving average of claims, which helps smooth out weekly volatility in numbers, increased to 215,000, up 4,750 from the previous week. "One week does not a trend make, but we can no longer be sure that calm seas lie ahead for the US economy if today's weekly jobless claims are any indication." Markets reacted little to the jobless claims release, with stock market futures slightly negative and Treasury yields mixed.

Persons: Dow Jones, Christopher Rupkey, Robert Frick Organizations: Labor Department, Navy Federal Credit Union Locations: New York

☆ India’s economy and Modi, Ambani, Adani: The three men shaping the next economic superpower
▼ + stars: | 2024-05-07 | by ( Diksha Madhok | ) edition.cnn.com time to read: +13 min

Fellow billionaire Gautam Adani, founder of the Adani group, was also invited. Reliance Industries and the Adani Group are sprawling conglomerates worth over $200 billion each, with established businesses in sectors ranging from fossil fuels and clean energy to media and technology. As a result, these three men — Modi, Ambani and Adani — are playing a fundamental role in shaping the economic superpower India will become in the coming decades. Both Adani and Ambani have become key allies as the country embarks on this revolution. “India cannot grow rich before it becomes old on the back of a few big firms like Adani or Ambani,” he said.

Persons: Mukesh Ambani, Mark Zuckerberg, Bill Gates, Ivanka Trump, popstar Rihanna, David Blaine, Ambani, Gautam Adani, Jeff Bezos, ”, Rohit Lamba, Narendra Modi, — Modi, Adani, Noemi Cassanelli, ’, John D Rockefeller, Vanderbilt, James Crabtree, Modi, Guido Cozzi, Cozzi, Ambani’s, Dhirubhai, helms, Cantor Fitzgerald, Cantor, ’ Ambani, Amit Dave, Hindenburg’s, ferociously, ” Cantor, Modi’s, Prasanna Tantri, Crabtree, Lamba Organizations: New, New Delhi CNN —, Reliance Industries, Pennsylvania State University, Investors, Adani, CNN, Adani Realty, Frick, Astor, Carnegie, Samsung, Hyundai, World Bank . Coal, University of St, Adani Group, Reliance, Reliance Industry, Adani Enterprises, AEL “, Tata Group, Modi, India’s, Hindenburg, GQG Partners, Indian School of Business Locations: New Delhi, Gujarat, Davos, Coachella, Silicon Valley, India, China, Mumbai, Antilia, America, Asia, Britain, South Korea, Worth, United Kingdom, University of St Gallen, Switzerland, American

☆ When the Rubin Museum Was Divine
▼ + stars: | 2024-04-04 | by ( Holland Cotter | ) www.nytimes.com time to read: 1 min

The Guggenheim’s mother ship interior is such a thrill that it prepares you to love whatever’s on view. The interiors of the Frick and the Morgan are intimate enough to make you feel proprietarily, and fabulously, at home. The Rubin Museum of Art also has design and art going for it. Housed in what was once the women’s wear wing of Barneys New York, it retains the store’s six-story steel-and-marble spiral staircase, and turns spaces conceived for leisurely shopping into ideally scaled galleries. And the kind of art gathered in those galleries is, in its concentration, like nothing else in town.

Persons: Frick, Morgan Organizations: Rubin Museum of Art, Barneys Locations: Barneys New York, Himalayan Asia, India, China, Tibet

☆ Hybrid cars now have 'very few compromises' says Ford executive — and sales are booming
▼ + stars: | 2024-03-23 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

Sales growth for hybrid cars is outpacing growth for electric vehicles this year. AdvertisementIt's shaping up to be a comeback year for hybrid cars — and that's partly because they're now nearly as good as their conventional vehicles, according to a Ford executive. Frick's comments come as demand for hybrid vehicles soars, partly due to drivers' worries about charging electric cars. AdvertisementFreedom of choiceThe hybrid Maverick starts at about $25,300 — some $1,500 more than the gas version. About 60% of those buying a hybrid Maverick are first-time Ford customers, product development operations chief Jim Baumbick previously told Business Insider.

Persons: Ford, Ford's Andrew Frick, —, they're, Andrew Frick, Morgan Stanley, Jim Baumbick Organizations: Service, Ford, Wall, Buyers, Cox Automotive, Toyota Prius, BI Toyota, EV, Toyota, White House Locations: Detroit, Edmunds

☆ Retail sales rebounded in February amid higher gas prices
▼ + stars: | 2024-03-14 | by ( Bryan Mena | ) edition.cnn.com time to read: +2 min

Retail sales at stores, online and in restaurants rose 0.6% in February from the prior month, up from January’s revised 1.1% decline, the Commerce Department reported Thursday. The broader US economy remains on strong footing, with employers continuing to hire and Americans still raking in strong wage gains. Sales were up across most categories last month, rising the most at home improvement stores, by a solid 2.2%. In February, car sales climbed 1.8%, purchases of electronics and appliances increased 1.5% and sales at restaurants rose 0.4%. Spending is heavily influenced by the state of the labor market, which remains solid.

Persons: don’t, ”, Robert Frick, “ It’s, “ Organizations: Washington CNN, Commerce Department, Consumers, Navy Federal Credit Union

☆ Consumer prices rose 0.4% in February and 3.2% from a year ago
▼ + stars: | 2024-03-12 | by ( Jeff Cox | ) www.cnbc.com time to read: +4 min

The consumer price index, a broad measure of goods and services costs, increased 0.4% for the month and 3.2% from a year ago, the Labor Department's Bureau of Labor Statistics reported Tuesday. Excluding volatile food and energy prices, the core CPI rose 0.4% on the month and was up 3.8% on the year. Food costs were flat on the month, while shelter rose another 0.4%. With home prices expected to rise this year and rents falling only slowly, the long-awaited fall in shelter prices isn't coming to the rescue any time soon," said Robert Frick, corporate economist at Navy Federal Credit Union. Patrick T. Fallon | AFP | Getty ImagesAirline fares posted a 3.6% increase, apparel prices rose 0.6% and used vehicles were up 0.5%.

Persons: Dow Jones, Robert Frick, February's, Patrick T, Fallon, Jerome Powell, Paul Ashworth Organizations: Federal Reserve, Labor Department's Bureau of Labor Statistics, Dow, BLS, Navy Federal Credit Union, AFP, Getty, North, Capital Economics Locations: Redondo Beach , California, North America

☆ Key takeaways from the latest jobs report
▼ + stars: | 2024-03-08 | by ( Alicia Wallace | ) edition.cnn.com time to read: +7 min

“The economy remains strong, held up by a robust labor market,” wrote Christopher Rupkey, chief economist with FwdBonds, in a note Friday. Still, Friday’s jobs report also showed that the whopping gains initially recorded for January and December were revised down by a combined 167,000 jobs. January’s job gains now sit at an estimated 229,000 (down from the blowout 353,000); and December’s job growth at 290,000 (down from 333,000). In February, that included construction (up 23,000 jobs); transportation and warehousing (up 19,700 jobs); and retail (up 18,700 jobs). Friday’s jobs report showed that wage growth is indeed slowing.

Persons: ”, Christopher Rupkey, FwdBonds, “, ” Robert Frick, —, ” Diane Swonk, Swonk, February’s, ” Frick, Julissa Carielo, ” Swonk, Gus Faucher, Lydia Boussour, EY, Boussour, Janet Yellen, CNN’s Kate Bolduan, they’re, ” Yellen, Price, CNN’s Bryan Mena Organizations: New, New York CNN, of Labor Statistics, Navy Federal Credit Union, CNN, KPMG US, Health, Baby Boomers, Transportation Security Administration, DreamOn, Inc, Boomers, Fed, Labor, Federal, PNC Financial Services, “ Fed Locations: New York, San Antonio , Texas, Texas

☆ The US economy is so strong that there might not be any rate cuts in 2024
▼ + stars: | 2024-03-01 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +3 min

Now, some economists think the Fed won’t cut interest rates at all this year. “The Fed will not cut rates this year and rates are going to stay higher for longer,” he added. Richmond Federal Reserve President Tom Barkin echoed the idea that the central bank may not cut interest rates this year. In some ways, the expectations of interest rate cuts by the Fed undermined their efforts to actually cut the rates. Still, about half of investors are expecting an interest rate cut at the Fed’s June meeting, according to the CME FedWatch tool.

Persons: —, that’s, Jerome Powell, Torsten Slok, “, Tom Barkin, ” Barkin, “ I’m, ” Robert Frick, ”, Powell Organizations: New, New York CNN, Federal, Apollo Global Management, Richmond Federal, CNBC, Navy Federal Credit Union, CNN, Fed, National Federation of Independent, Investors, Financial Services, Senate Locations: New York, Richmond

☆ Three Riveting, Slow-Burn New Thrillers
▼ + stars: | 2024-02-24 | by ( Sarah Lyall | ) www.nytimes.com time to read: +1 min

In Kit Frick’s THE SPLIT (Emily Bestler Books, 278 pp., $27), Jane Connor gets a call one night from her needy younger sister, Esme. She’s left her husband and wants Jane to drive from suburban Connecticut to New York City to pick her up, even though a storm is raging. Still burdened by guilt after nearly killing Esme in a drunken car crash years earlier, Jane hesitates. Half the chapters, marked “Gone,” play out a scenario in which Jane waits until morning to travel to the city — only to find that Esme has vanished. In the other half, marked “Home,” Jane retrieves Esme that night and brings her to Connecticut — which leads to unexpected complications.

Persons: Frick’s, Emily Bestler, Jane Connor, Esme, She’s, Jane, Jane hesitates, ”, ” Jane Locations: Connecticut, New York City

The housing market began 2024 in the doldrums as housing starts and permits for new construction both fell, the Census Bureau reported on Friday. Starts fell 14.8%, way more than the flat reading expected by economists. “High mortgage rates, with maybe a dash of cold weather, caused starts and permits to fall from December. The optimism is a turnaround from August 2023, when 80% of small businesses surveyed said their long-term financial confidence was being negatively affected by the economy. Some 50% of small business owners said they were planning to expand in 2024.

Persons: didn’t, ”, Robert Frick, Lisa Sturtevant, Ksenia Potapov, “, they’re, Bill Dunkelberg Organizations: Census, Navy Federal Credit Union, MLS, “, National Federation of Independent Business, American Express Locations: American

The overall personal consumption expenditures price index rose 2% for the month, as did the core index that omits food and energy costs. On an annual basis, the overall index remained unchanged at 2.6% while the core fell to 2.9% from 3.2% in November. The rise in the core index was the slowest since the spring of 2021. The core index is often cited by Fed officials as their barometer for inflation. “The meeting statement is likely to drop the hawkish bias from its forward guidance, but stop short of signaling rate cuts.

Persons: ”, Robert Frick, “, Lydia Boussour, Jerome Powell, Jeremy Schwartz, Ruchir Sharma Organizations: Federal, Economic, Fed, Navy Federal Credit Union, Federal Reserve, Reserve, Nomura Securities, Nomura, Aichi Amemiya

Just 270 players are in the Hall, 1.3% of the approximately 20,500 who have appeared in the major leagues, according to the Elias Sports Bureau. Beltré was the leading vote-getter at 99% in his first try, according to Ryan Thibodaux’s Hall of Fame Ballot Tracker. Mauer, also on the his initial ballot, was second at 83%, and Helton was next at 82.5% in his sixth appearance. Mauer was a six-time All-Star, three-time Gold Glove winner and the 2009 AL MVP during 15 seasons with Minnesota. The seven-time All-Star is sixth in career saves with 422, going 47-40 with a 2.31 ERA in 16 seasons.

Persons: Beltré, Joe Mauer, Todd Helton, Billy Wagner, Gary Sheffield, ”, Jayson Stark, “, Stark, Dan Shaughnessy, Shaughnessy, Ryan Thibodaux’s, Helton, Wagner, Andruw Jones, Jim Leyland, Bob Costas, Frick, they’ve, you’ve, Costas, Alex Rodríguez, Manny Ramírez, that’s, we're, it's, Brooks Robinson’s, Mauer, ___ Organizations: baseball's Hall of Fame, Elias Sports Bureau, Writers ' Association of America, Boston Globe, Beltré, of Fame, Sheffield, BBWAA, Los Angeles Dodgers, Minnesota, Colorado, Coors Field, Houston, New York Mets, Milwaukee, Dodgers, New York Yankees, Mets Locations: Cooperstown, Mauer, Seattle, Boston, Texas, Minnesota, Philadelphia, Atlanta, San Diego, Florida, Detroit

Both are yet another indication that inflation has moderated from its pace of last year when consumer inflation was running at a 9.1% annual rate. “After fears of "sticky" and "persistent" inflation, the month to month slowing in the core pce readings is encouraging. Core pce has risen by 0.3% or less for 8 consecutive months. Political Cartoons on Inflation View All 19 Images"This report hit the trifecta,” said Navy Federal Credit Union corporate economist Robert Frick. “During October, mortgage rates were at their highest, and contract signings for existing homes were at their lowest in more than 20 years,” said Lawrence Yun, NAR chief economist.

Persons: ” Kathy Jones, ”, Robert Frick, “, Zumper, Lawrence Yun, Curt Long Organizations: Federal Reserve, pce, Schwab Center, Financial Research, Federal Credit Union, National Association of Realtors, NAR, Fed, Labor, National Association of Federal Credit Unions, Dow Jones Industrial Locations: “

☆ 2 Masterpieces Reveal the Big Bang Moment of Our Art Universe
▼ + stars: | 2023-11-22 | by ( Blake Gopnik | ) www.nytimes.com time to read: +4 min

Francis” he’d bought: 50 years on, it still ranked as one of the great portrayals of the holy man. The collector added it to walls hung with other paintings that could hardly have had less to do with the sacred: Neighboring the “St. Francis” was a Giorgione that illustrated the classical tale of Paris, the Trojan prince, being abandoned in the wilderness as a babe. Contarini used this room to compare the latest in people-pictures — even if one of these people was the son of God. As the art historian Charles Hope has pointed out, it’s possible to spot Sebastiano’s stylings on the surface we see today.

Persons: Francis ” he’d, Contarini, Francis ”, Bellini, Bellini’s, God, Giorgione’s, Mary, Abraham, Pythagoras, Giorgione, Giorgione’s couldn’t, Marcantonio Michiel, ”, Giorgione —, Sebastiano del Piombo, Charles Hope Organizations: Frick Locations: “, Paris, Turkish

☆ US existing home sales hit more than 13-year low; prices push higher
▼ + stars: | 2023-11-21 | by ( Lucia Mutikani | ) www.reuters.com time to read: +5 min

"The combination of high prices, high mortgage rates, and millions of homeowners unwilling to move, given they've locked in low rates, has frozen the market," said Robert Frick, corporate economist at Navy Federal Credit Union in Vienna, Virginia. Economists polled by Reuters had forecast home sales would slide to a rate of 3.90 million units. Existing home salesTIGHT SUPPLYThere were 1.15 million previously owned homes on the market last month, down 5.7% from a year ago. Most homeowners have mortgage rates under 5%, making many reluctant to sell. At October's sales pace, it would take 3.6 months to exhaust the current inventory of existing homes, up from 3.3 months a year ago.

Persons: Sarah Silbiger, Robert Frick, Freddie Mac, Lawrence Yun, Yun, Jeffrey Roach, Lucia Mutikani, Paul Simao Organizations: REUTERS, WASHINGTON, National Association of Realtors, Navy Federal Credit Union, homebuyers, Reuters, Treasury, realtors, U.S, Congress, Builders, LPL Financial, Thomson Locations: Washington , U.S, Vienna , Virginia, Northeast, West, Midwest, Charlotte , North Carolina

☆ Long-lost $26 million masterpiece found in kitchen heads to the Louvre after 4-year campaign
▼ + stars: | 2023-11-16 | by ( Jack Guy | ) edition.cnn.com time to read: +3 min

CNN —The Louvre Museum in Paris has added a “national treasure” to its collection four years after it was discovered during a house clearance. “Christ Mocked” by the Florentine painter Cimabue was found in an elderly woman’s house in the town of Compiegne in 2019. She had kept the rare artwork – which she thought was a Greek religious icon – in her kitchen. But the French government then stepped in to block its export, assigning the painting “national treasure” status. It will join the much larger Cimabue painting “Maestà” in the Louvre collection, and both works will be part of an exhibition event in spring 2025, according to the ministry.

Persons: ”, Cimabue, Jerome Montcouquil, Cenni, Pepo, Philippe Lopez, Rima Abdul Malak, Laurence des, Giotto, Christ Organizations: CNN, Louvre Museum, AFP, Getty, Frick Locations: Paris, Compiegne, Greek, France, Florence, London, British, Suffolk, New York

REUTERS/Phil Noble/File Photo Acquire Licensing RightsFRANKFURT/MUNICH, Oct 26 (Reuters) - German technology groups have warned they are being hit by delays in getting China-bound exports through customs, following the introduction of a German government strategy to reduce economic dependence on demand from China. German chip-making kit supplier Suess MicroTec (SMHNn.DE) late on Wednesday cut its sales forecasts for the second time in three months, blaming tightened controls for exports to China. German customs and the Federal Office for Economic Affairs and Export Control (BAFA) did not immediately respond to a request for comment. Lobby group Asia-Pacific Committee of German Business (APA) told Reuters the BAFA office was appearing to scrutinise export requests more closely or escalate requests to the economy ministry more often. Still, the German chamber of commerce said the political environment was hobbling exports to China.

Persons: Phil Noble, Suess, Friedolin Strack, Burkhardt Frick, Martin Wansleben, Alexander Huebner, Rene Wagner, Christian Kraemer, Thomas Escritt, Anneli, Ludwig Burger, David Holmes Organizations: REUTERS, Federal Office, Economic Affairs, Export Control, Pacific Committee, German Business, Reuters, Thomson Locations: Hamburg, Germany, FRANKFURT, MUNICH, China, Asia, Munich, Berlin, Duesseldorf, Frankfurt

☆ Ford reshuffles top management as UAW strike drags on
▼ + stars: | 2023-10-18 | by ( ) www.reuters.com time to read: +1 min

[1/2] Ford logo is pictured at the 2019 Frankfurt Motor Show (IAA) in Frankfurt, Germany September 10, 2019. REUTERS/Wolfgang Rattay/File Photo Acquire Licensing RightsCompanies Ford Motor Co FollowOct 18 (Reuters) - Ford Motor Co (F.N) on Wednesday announced a management rejig, promoting combustion vehicle unit chief Kumar Galhotra to the position of chief operating officer, even as the ongoing autoworkers strike shows little signs of ending. Galhotra, who previously headed Ford Blue unit that makes gas and hybrid vehicles, will now lead the automaker's global industrial system. Ford also named Andrew Frick as the new head of Ford Blue. Frick previously managed Ford Blue's sales and distribution functions, trucks, SUVs and enthusiast vehicles, and operations in Mexico and Canada.

Persons: Wolfgang Rattay, Kumar Galhotra, Galhotra, Ford, Andrew Frick, Frick, Nathan Gomes, Krishna Chandra Organizations: REUTERS, Ford, Ford Motor, Wednesday, Ford Blue, United Auto Workers, Anderson Economic Group, UAW, Thomson Locations: Frankfurt, Germany, Mexico, Canada, East Lansing , Michigan, Ford's Kentucky, Bengaluru

☆ Homebuilding bounced back in September
▼ + stars: | 2023-10-18 | by ( Anna Bahney | ) edition.cnn.com time to read: +2 min

Washington, DC CNN —US homebuilding bounced back in September, after dropping in August to the lowest levels since 2020 as mortgage rates climbed. Building permits dropped in September, falling 4.4% from August’s revised number to a seasonally adjusted annual rate of 1.473 million. “Builders continue constructing smaller homes using less land, and offering incentives, but to build our way out of the housing shortage we’ll need mortgage rates well below current levels,” he said. Homebuilders are becoming increasingly anxious about persistently high mortgage rates and cooling demand, she said. “To keep buyers interested, many builders have been offering upgrades or buying down mortgage rates,” she said.

Persons: US homebuilding, ”, Robert Frick, Lisa Sturtevant, “, Sturtevant Organizations: DC CNN, US, Housing, Census, Navy Federal Credit Union, “ Builders, Bright MLS Locations: Washington

☆ Consumer prices rose 0.4% in September, more than expected
▼ + stars: | 2023-10-12 | by ( Jeff Cox | ) www.cnbc.com time to read: +4 min

The consumer price index, a closely followed inflation gauge, increased 0.4% on the month and 3.7% from a year ago, according to a Labor Department report Thursday. On a monthly basis, shelter accounted for more than half the rise in the CPI, the Labor Department said. On a 12-month basis, food costs climbed 3.7%, including a 6% increase for food away from home, while energy costs were off 0.5%. "That shelter and food costs rose particularly is especially painful." Correction: The Labor Department said Wednesday that prices at the wholesale level increased 0.5% in September.

Persons: Dow Jones, Robert Frick Organizations: Labor Department, Dow, CPI, Energy, Navy Federal Credit Union, Federal, Market Committee, Treasury

NEW YORK (AP) — A dozen years ago, Barkley L. Hendricks, the pioneering portrait artist known for vivid, stylish paintings of Black men and women, stood outside the Frick Collection in Manhattan, known for its works by European Old Masters. Still, curators say, he'd likely have never imagined that in 2023, he’d be the first artist of color to have a solo show at the 88-year-old Frick. What is more unusual is that a museum focusing on the 14th through 19th centuries would devote a show to a contemporary portraitist like Hendricks. His sunglasses reflect the buildings outside Hendricks' studio, and even contain a tiny reflection of the artist himself. “Slick” features the artist in a white suit against a white background, wearing a cap of African design.

Persons: Barkley, Hendricks, Rembrandt, “, he’d, Frick, ”, Antwaun Sargent, ” It’s, Van Dyck, Van Eyck, Aimee Ng, ” Ng, Frick Madison, Angela Davis —, Kathy Williams, Nina Simone, Kehinde Wiley, Barack Obama, Barkley Hendricks, “ Woody, Alvin Ailey, Woodruff Wilson, Steve ”, Sargent, ” Hendricks, ” Sargent, Susan, Donald Formey, Ng, Formey, ‘, “ Slick ” Organizations: Frick, European Old, Polaroid, Beaux, Pennsylvania Academy, Fine Arts, Connecticut College, ” Locations: Manhattan, Van, Velásquez, New York, New York City, Jan, Philadelphia, ”, Europe

☆ Electronic Pioneers Tangerine Dream Shape-Shift Once Again
▼ + stars: | 2023-09-25 | by ( Steve Smith | ) www.nytimes.com time to read: +1 min

Before this spring, the last time Tangerine Dream performed live in the United States was on Sept. 30, 2013. The occasion was “Live From Los Santos: The Music of Grand Theft Auto V,” a showcase presented during the 51st New York Film Festival. But you couldn’t miss the group’s leader, Edgar Froese, front and center in his signature black hat. It was the final New York performance by Froese, who died of a pulmonary embolism in 2015. Now, a new Tangerine Dream is touring the U.S. and Canada, arriving at the Knockdown Center in Queens on Saturday — precisely a decade after its last New York appearance.

Persons: Edgar Froese, Froese, Thorsten Quaeschning, Paul Frick, Hoshiko Yamane — Organizations: 51st New York Film Locations: United States, Santos, York, Berlin, Canada, Queens, Tucson, Ariz

☆ ‘Barkley L. Hendricks: Portraits at the Frick’ Review: Infinite Shades of Black
▼ + stars: | 2023-09-20 | by ( Willard Spiegelman | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/arts-culture/fine-art/barkley-l-hendricks-portraits-at-the-frick-review-infinite-shades-of-black-cad62f95

Persons: Dow Jones, hendricks Organizations: frick

☆ JPMorgan executive joked about the 'nymphettes' Jeffrey Epstein kept in his house: court docs
▼ + stars: | 2023-07-25 | by ( Grace Eliza Goodwin | ) www.businessinsider.com time to read: +2 min

A JPMorgan Chase executive once joked about the "nymphettes" Jeffrey Epstein kept in his house. Epstein was charged in 2019 fo trafficking underage girls for sex, but died in prison soon after. A JPMorgan Chase executive once joked about the "nymphettes" that Jeffrey Epstein kept in his house, according to a new filing in an ongoing lawsuit against the bank. "Reminded me of JE's house, except it was more tasteful, and fewer nymphettes," the executive wrote, according to the new filing. He was awaiting trial on sex trafficking charges.

Persons: Jeffrey Epstein, Epstein, Jeffrey Epstein's, Frick, Miley Cyrus, JPMorgan Chase Organizations: JPMorgan Chase, US, US Virgin Islands, Morning, JPMorgan, Metropolitan Correctional Center Locations: US Virgin, Manhattan

JPMorgan countered that the U.S. Virgin Islands was also to blame for allowing Epstein's sexual abuse of young women and teenage girls, saying the territory used its powers to enable these crimes. The U.S. Virgin Islands is suing JPMorgan for at least $190 million, saying the bank ignored red flags about Epstein because he was a wealthy and lucrative client from 1998 to 2013. Ahead of a scheduled Oct. 23 trial, the U.S. Virgin Islands wants a judge to declare that JPMorgan participated in Epstein's sex trafficking and obstructed law enforcement. The U.S. Virgin Islands has already received more than $105 million from Epstein's estate, and reached a settlement with billionaire Leon Black, a former Epstein friend. The case is U.S. Virgin Islands v. JPMorgan Chase Bank NA, U.S. District Court, Southern District of New York, No.

Persons: Jeffrey Epstein, Epstein, Ghislaine Maxwell, Mary Erdoes, Frick, Erdoes, Leon Black, JPMorgan, Jonathan Stempel, Stephen Coates Organizations: YORK, U.S . Virgin Islands, JPMorgan Chase, JPMorgan, U.S . Virgin, U.S ., New, Virgin, JPMorgan Chase Bank NA, U.S, Court, Southern District of, Thomson Locations: U.S, Manhattan, U.S . Virgin, New York, Southern District, Southern District of New York, Bengaluru

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