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"I don't feel so bad for Gen Z and millennials," Dimon said, adding that his grandparents were Greek immigrants who arrived in the US with nothing but "a shirt on their back." "They're going to be working probably 3.5 days a week. They're going to live to 100. They're going to be in pretty good shape, provided the world doesn't destroy it all with nuclear weapons, which is the biggest risk in the world." Related storiesDimon added that in the decades ahead, younger generations would inherit trillions of dollars and benefit from mammoth investments in healthcare, education, and other areas.
Persons: , they've, Jamie Dimon, Dimon, They're, Gen, Xers — Organizations: Service, Business, AlphaSense Locations: America
The lack of female leadership in the financial industry is nothing new, but many companies have been making strides. But as I watch senior women continue their exodus from Goldman, I'm not sure the company actually wants to change. While many companies have modernized to embrace hybrid and remote work, Goldman has not. Rather than changing its "be in the office every day and grind it out" culture to better suit women, Goldman puts the onus on us to change ourselves to fit the model. But Goldman leadership seems to want the benefits of gender diversity without the hard work of supporting diverse leadership styles.
Persons: Goldman Sachs, , Dina Powell McCormick, Beth Hammack, Stephanie Cohen, Goldman, I'd, It's, it's, Morgan Stanley, Jamie Dimon, David Solomon, I'm, hadn't, Julia Boorstin, — Goldman, I've, she's, Asahi Pompey, Yassaman Salas, Rebecca Anderton, Davies, Lindsay MacMillan Organizations: Street Journal, Goldman, Citi, JPMorgan, International Workplace, McKinsey, LinkedIn, CNBC, Deloitte, Asahi Locations: Canada, London, New York
Related storiesDimon warned against dismissing inflation and elevated interest rates as temporary headwinds. "That's a different world for real estate. It's a different world for assets. It's a different world for private credit. In his shareholder letter this year, he called out market complacency toward the threats of inflation, interest rates, and recession.
Persons: , Jamie Dimon, largesse, I'm, Dimon, Warren Buffett, there's, It's Organizations: Service, AlphaSense, Business, JPMorgan, Wall Locations: Ukraine, Gaza, Russia, China, It's
JPMorgan is well diversified, says Gabelli Funds' Macrae Sykes
  + stars: | 2024-05-20 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJPMorgan is well diversified, says Gabelli Funds' Macrae SykesMacrae Sykes, portfolio manager at Gabelli Funds, joins 'Squawk Box' to discuss Jamie Dimon's tenure at JPMorgan, capital requirements in Basel III Endgame, and more.
Persons: Macrae Sykes Macrae Sykes, Jamie Dimon's Organizations: JPMorgan, Gabelli Locations: Basel
Tom Williams | Cq-roll Call, Inc. | Getty ImagesJamie Dimon thinks shares of JPMorgan Chase are expensive. We're not going to buy back a lot of stock at these prices," Dimon said. JPMorgan shares traded recently for around 2.4 times book value. "Buying back stock of a financial company greatly in excess of two times tangible book is a mistake," Dimon said. The JPMorgan CEO has often resisted pressure from investors and analysts that he deemed short-sighted.
Persons: Jamie Dimon, JPMorgan Chase, Tom Williams, Dimon, buybacks, Charles Peabody Organizations: JPMorgan, Banking, Housing, Urban Affairs Committee, Wall Street Firms, Cq, Inc, Getty, JPMorgan Chase, Portales Partners, Bank of America
At the time, Dimon said, the priority was to understand "what we do know, what can we learn from it." Dimon's comments come as the investment-banking industry grapples with the surprising deaths of not one but two deaths at BofA this month. "We're aware of these stories, and they are tragic and incredibly sad," Rohrbaugh continued, calling it the "job" of bank leaders to look after employees' health on the job. AdvertisementCurrent and former employees at BofA told Business Insider that 100-hour workweeks were not unusual at the bank. Earlier this month, a BofA spokesperson told BI of Lukenas' passing: "We are very saddened by the loss of our teammate.
Persons: Jamie Dimon, JPMorgan Chase, Leo Lukenas III, Robin Leopold, Dimon, Troy Rohrbaugh, Rohrbaugh, Lukenas, headhunter Douglas Walters, Adnan Deumic, cardigan, Reed Alexander Organizations: Service, JPMorgan, Bank of America, Business, New York, Medical, BofA, Reuters, GrayFox, Bloomberg, Wall Locations: America's, BofA, London
Jamie Dimon, CEO of JPMorgan Chase, at the U.K. Jamie Dimon's days as CEO of JPMorgan Chase are numbered — though its unclear by how much. In a response to a question Monday about the bank's succession planning, Dimon indicated that his expected tenure is less than five more years. That's a key change from Dimon's previous responses to succession questions, in which his standard answer had been that retirement was perpetually five years away. Even when he steps down as CEO, however, it's likely he will stay on as the bank's chairman, JPMorgan has said.
Persons: Jamie Dimon, JPMorgan Chase, Jamie Dimon's, That's, Dimon, I've, Marianne Lake, Jennifer Piepszak, it's Organizations: JPMorgan, U.K, Global Investment Locations: Hampton, London, York, America
It’s interesting to me that the equity market is cheering the idea that the Fed is going to be cutting rates. There tends to be a fine line between cutting rates and extending the economic cycle or cutting rates because the cycle is coming to an end (and the economy is softening). When the Fed is cutting rates, it’s cutting rates because a recession is about to happen, right? That’s why I say there’s a fine line between the Fed cutting to extend the cycle and the Fed cutting because a recession is about to happen. The Fed has been in this precarious space where they’re trying to avoid recession while lowering interest rates.
Persons: Dow, stoking, Bell, Tom Porcelli, Jerome Powell, Jay Powell, they’re, that’s, Donald, Goofy, Eva Rothenberg, Mickey Mouse, Snow White, Captain Hook, , Kate Shindle, , Uber, Lyft, Jamie Long, Read Organizations: CNN Business, Bell, New York CNN — Markets, Federal Reserve, Fed, ’ Equity Association, Equity, National Labor Relations Board, Disneyland, Disney, ’ Equity, Walt Disney Company, Uber, Democratic, Minneapolis City Council Locations: New York, Anaheim , California, Minnesota, Minneapolis
But some older adults may be unaware of the strength of today’s weed, and little is known about the health effects of legalizing edible cannabis on older adults — the age group with the largest growth in overall cannabis use a year after dried cannabis flower was legalized in Canada, Stall said. Jamie Grill/Tetra images RF/Getty Images“There’s a bit of an age-related bias that many health care practitioners, and frankly society, hold that older adults are not using drugs. During the eight-year study period, there were 2,322 emergency department visits for cannabis poisoning in older adults who were age 69 on average. Products older adults intentionally use should have dosing information with specific guidance for older adults, “recognizing that the amount of drug they may need is a lot less than younger populations,” Stall said. Health care providers should also have open and judgment-free conversations with older adults about cannabis use and its benefits and risks, he added.
Persons: edibles, Nathan, Jamie Grill, , , , Lona Mody, Sharon K, Inouye, weren’t, Amanda Sanford Hickey, Ann Arbor . Inouye, Arthur Marcus, ” Mody Organizations: CNN, Sinai Health, Getty, Ontario Ministry, Internal Medicine, University of Michigan, Aging, for Aging Research, Harvard Medical School Locations: Canada, , Sinai, Ontario, Ann Arbor, Boston
US stocks traded mostly higher on Monday, with shares of Nvidia leading the way. Nvidia stock surged about 3% ahead of its first-quarter earnings results on Monday. JPMorgan weighed down the Dow after CEO Jamie Dimon said now is not the time to buyback stock. AdvertisementMajor US stock indexes were mostly higher on Monday, with Nvidia stock leading the way with a gain of nearly 3% ahead of its hotly anticipated first-quarter earnings report on Wednesday. JPMorgan CEO Jamie Dimon struck a cautious tone on the economy on Monday, highlighting that today's geopolitical tensions represent risks not seen since World War II.
Persons: Jamie Dimon, , Dimon Organizations: Nvidia, Monday, JPMorgan, Dow, Service, Nasdaq, Dow Jones
JPMorgan CEO Jamie Dimon is talking about retirement. At an investor-day Q&A, Dimon joked he was planning to step down within five years. AdvertisementJamie Dimon, Wall Street's longest-tenured CEO, may be retiring sooner than we'd thought. At an investor-day Q&A on Monday, the JPMorgan CEO broke from his usual joke that he'd retire in five years. When asked about his succession plan, Dimon seemed to acknowledge that he's thinking of stepping down when he joked that the timetable was "not five years anymore."
Persons: Jamie Dimon, Dimon, , Wall, he'd Organizations: Service, JPMorgan, Business
Stock futures are near flat Monday night after the technology-heavy Nasdaq Composite closed at an all-time high. Dow Jones Industrial Average futures lost just 27 points, while S&P 500 futures also sat near its flatline. Those moves come after a mixed day on Wall Street. But the blue-chip Dow slipped almost 200 points, or 0.5%. Monday's action follows a notable week on Wall Street amid renewed hopes about the state of inflation and monetary policy.
Persons: Dow, Jamie Dimon, Keith Buchanan, Christopher Waller, Tom Barkin, Raphael Bostic Organizations: New York Stock Exchange, Stock, Nasdaq, Dow Jones Industrial, Palo Alto Networks, LSEG, Nvidia, JPMorgan, Globalt Investments, Federal, Richmond Fed, Atlanta Fed, Traders
She said her unit now aspires to train all of its workers in AI to get them ready "for the AI of the future," and she outlined some of the ways AI is helping bankers do their jobs. She said AI is reducing what she called "no joy" work. Some of the ways the bank thinks AI can come in handy are big and sweeping, while others are small by comparison. Broadly speaking, AI was a hot topic for other bank leaders at investor day, too. "You can't envision one app, one database, or one job where it's not going to help aid or abet."
Persons: Mary Erdoes, Jamie Dimon, it's
Read previewWall Street is investing big in artificial intelligence — and that's good news for machine-learning engineers and other tech talent. Hirsch said that investment banks are hiring AI engineers to build in-house tools that they can use "across their trading, research, and risk-management functions." The 8 banks reviewed are JPMorgan Chase, Bank of America, UBS, Citibank, Barclays, Deutsche Bank, Goldman Sachs, and Morgan Stanley. We pulled data for roles containing keywords like "AI," "data science," "machine learning," and "prompt." AdvertisementCheck out data-science and AI salaries for JPMorgan, Goldman Sachs, Citi, Bank of America, and other investment banks:
Persons: , JPMorgan Chase, Jamie Dimon, Dimon, Gil Perez, Giancarlo Hirsch, Hirsch, Goldman Sachs, Morgan Stanley Organizations: Service, JPMorgan, Business, Deutsche Bank, Wall, of Foreign Labor, JPMorgan Chase, Bank of America, UBS, Citibank, Barclays, Department, Labor, Citi Locations: America
The federal IOU is now at $34.5 trillion, or about $11 trillion higher than where it stood in March 2020. Concern over such eye-popping numbers had been largely confined to partisan rancor on Capitol Hill as well as from watchdogs like the Committee for a Responsible Federal Budget. Uncharted territory for debt and deficitsIndeed, the CBO numbers are ominous, as they outline the likely path of debt and deficits. Surging budget deficits have been driving the debt, and the CBO only expects that to get worse. "The huge obvious problem is that the U.S. federal debt is now on a completely unsustainable long-term trajectory," analysts at Wolfe Research said in a recent note.
Persons: Greenlee Beal, Jerome Powell, Powell, Jamie Dimon, Ray Dalio, hasn't, Wolfe Organizations: U.S, Capitol, Wall, CBO, Union, JPMorgan Chase, Sky News, Bridgewater Associates, Financial Times, Treasury Department, Wolfe Research, U.S ., Federal Reserve Locations: Washington , U.S, Washington, Amsterdam, London, America, U.S
New York CNN —Minnesota government officials have struck a deal with rideshare companies Uber and Lyft to set minimum wage standards for drivers, lawmakers announced Saturday night. The rule was delayed after Lyft and Uber warned they would leave Minneapolis. State lawmakers have been focused on compromising with the companies before a July 1 deadline. Under the new agreement, the statewide minimum wage rate for rideshare drivers will be $1.28 per mile and $0.31 per minute. “We applaud the tens of thousands of riders & drivers who sent close to 100,000 emails to legislators — your voices were heard.
Persons: Uber, Lyft, Jamie Long, ” Long, , Erin Murphy, Josh Gold Organizations: New, New York CNN, Minnesota, Democratic, Minneapolis City Council, Governor Locations: New York, Minnesota, Minneapolis, State
One Friday last month, Jamie Raskin, a Democratic congressman from Maryland, spent a chunk of his day in court securing a protective order. Mr. Raskin, who played a leading role in Donald J. Trump’s second impeachment hearing, said he received about 50 menacing calls, emails and letters every month that are turned over to the Capitol Police. His latest court visit was prompted by a man who showed up at his house and screamed in his face about the Covid-19 vaccine, Mr. Trump’s impeachment and gender-related surgeries. Nearly two years earlier, the same man, with his 3-year-old son in his arms, had yelled profanities at Mr. Raskin at a July 4 parade, according to a police report. He just needs some parenting lessons,” Mr. Raskin said.
Persons: Jamie Raskin, Raskin, Donald J, Trump’s, profanities, , ” Mr Organizations: Democratic, Capitol Police Locations: Maryland
In popular ski destination Steamboat Springs, Colorado, for example, over 60% of the town's total short-term rental inventory is controlled by professional hosts. In 2023, the town created red zones where new short-term-rental permits were banned, according to local radio outlet KUNC. "It's been really lovely," Steamboat Springs resident Torey Wodnik told KUNC about living in the new red zones. Professional hosts may also have the upper hand in offering discounts and adjusting daily rates to capture more guests. Here are the 15 cities with the largest shares of Airbnb hosts that are professional companies.
Persons: , It's, Torey Wodnik, Jamie Lane, David, Lane Organizations: Service, Business, Steamboat Locations: Oregon, Lincoln City, Newport, New Mexico, Ruidoso, Springs , Colorado, Springs, Steamboat
I knew if I wanted to travel with my kids, I would have to find a way to do it on my own. I've been traveling solo with my kids for more than 15 years and have a system that works. I also get snacks for myself since it's easy to overlook my own needs while traveling solo with kids. AdvertisementWe travel lightlyI've always been committed to traveling carry-on-only and doubled down on this commitment when traveling solo with kids. When traveling solo with kids, it's not possible to hand off the kids while I explore something on my own, so this is essential.
Persons: , I've, Taco, Burger, it's Organizations: Service, Business, TSA, Taco Bell, Gladiator School Locations: Europe
Read previewWarning: Spoilers ahead for "Bridgerton" season three, part one. Fans are lauding season 3 for its representation of people with disabilitiesZak Ford-Williams as Lord Remington on season three of "Bridgerton." — Michelle Birkby (@michelleeb) May 16, 2024Today is Global Accessibility Awareness day and @bridgerton season 3 premier day. Francesca Bridgerton is autistic. Francesca isn't explicitly stated as being on the autism spectrum in Julia Quinn's 'Bridgerton' novels or on the TV seriesHannah Dodd as Francesca Bridgerton on season three, episode two of "Bridgerton."
Persons: , Penelope Featherington, Nicola Coughlan, Colin Bridgerton's, Luke Newton, Francesa Bridgerton, Hannah Dodd, Francesca, Dodd, Jess Brownell, Zak Ford, Williams, Lord Remington, Dolores Stowell, Kitty Devlin, Queen Charlotte, Golda Rosheuvel, Dolores, Lady Stowell, Sophie Woolley, Penelope, Colin ., Whistledown —, Michelle Birkby, — Chanel 🏒, emington,, ady, ord, J, ady V, eason, ord J ohn, ong, ohn, tirling, ove, ike Organizations: Service, Business, Netflix, ust Locations: isible
In today's big story, we're looking at how Zyn nicotine pouches are becoming the new weight-loss quick fix . A new weight-loss quick fix is making the rounds just in time for summer's unofficial start (Memorial Day), but this one relies on a highly addictive drug. However, one doctor Hilary spoke to has concerns about the effects of using nicotine to lose weight. Wilson, Amazon, Albany Times Union/Hearst Newspapers/Getty, Creative Crop/Getty, Tyler Le/BIOf course, you don't have to rely on a highly addictive drug to lose weight. Disney CEO Bob Iger said he's giving too much money to the Big Tech app stores that distribute Disney-owned streamers like Hulu and Disney+.
Persons: , Michael M, Rebecca Zisser, Hilary Brueck, Mia de Graaf, Hilary, they're, They're, Wilson, Tyler Le, I'm, BI's Jordan Hart, padel, Gabby Landsverk, Jamie Dimon Jamie Dimon, Jerome Powell, Bob Iger, Bernstein, Rouco, Zers, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Service, HBO, Business, Getty, bros, Albany Times Union, Hearst Newspapers, Creative, CNBC, JPMorgan, GameStop, Disney, Big Tech, Hulu, Google, Big, Microsoft, Wall Street, Citi Locations: Amazon, China, Ireland, Australia, millennials, New York, London
Read previewMarisa Abela embodies late music icon Amy Winehouse in the new biopic "Back to Black," and yes, the actor really sings in the film. Here's how Abela transformed her voice for "Back to Black" — and why the film controversially uses her vocals instead of Winehouse's. Abela wasn't a trained musician prior to 'Back to Black'Actor Marisa Abela and director Sam Taylor-Johnson on the set of "Back to Black." According to the "Back to Black" production notes, Abela took two-and-a-half-hour singing lessons every day for four months. AdvertisementThe decision to use Abela's vocals instead of dubbing in Winehouse's wasn't made lightlyMarisa Abela as Amy Winehouse in "Back to Black."
Persons: , Marisa Abela, Amy Winehouse, Sam Taylor, Winehouse, Abela, Abela wasn't, Johnson, Dean Rogers, Frank, Taylor, Jamie Matthewman, Anne, Marie Speed, Sarah Green, Giles Martin, Ben Parker, Stephen Colbert, Martin, Winehouse's wasn't, Abela's, that's, Speed Organizations: Service, Business, Hollywood
"Industry" star Marisa Abela plays Amy Winehouse. Marisa Abela, left, as Amy Winehouse in "Back to Black." Amy Winehouse, right, performing for the 2008 Grammys. She also recorded Winehouse's music at Abbey Road studios with the late singer's real band and wore two of the musician's real pieces of clothing in the movie. In a recent interview with Stephen Colbert, Abela said that playing Winehouse was "daunting," especially because she's not a singer.
Persons: Marisa Abela, Amy Winehouse, Peter Macdiarmid, Abela, Jamie Matthewman, Anne, Marie Speed, Sarah Green, Giles Martin, Ben Parker, Stephen Colbert, Winehouse, she's
CNN —Scottie Scheffler is a man well-accustomed to making global headlines, but almost never for events beyond the confines of the golf course. In 2014, at 17, as an amateur he made a hole-in-one and the cut on his first PGA Tour start. Without a PGA Tour victory heading into 2022, by April of that year he was a four-time victor, the world No. 1’s image as the self-effacing star of the PGA Tour, a perception he is content to endorse. His 10th PGA Tour title, it made him the first golfer since Woods in 2006 to win a PGA Tour event the week after triumphing at a major.
Persons: Scottie Scheffler, Tiger Woods, Scheffler, Ryder, Scheffler coasted, , Meredith, ” Scheffler, Ted Scott, ” Scottie Scheffler, David J, Phillip, Mary, Grandma, CNN Sport’s Don Riddell, Jared C, Tilton, Scheffler’s, Riddell, , I’m, I’ve, golf’s, Jamie Squire, Arnold Palmer, Andrew Redington, Bennett, Woods, triumphing, Rory McIlroy, Scott Organizations: CNN, Dallas, PGA, Augusta National, University of Texas, TPC, PGA Tour, Cowboys, Team USA, Ryder, Arnold Palmer Invitational, RBC Heritage, Northern Locations: Ridgewood , New Jersey, Augusta, Ponte Vedra Beach , Florida, Dallas, Rome, Valhalla, Louisville
Read previewWearing a school uniform never worked for Holly White. "I was assisting fashion assistants, and I knew immediately that I'd fallen in love with styling," White said of her time at the magazine. India Amarteifio and Holly White. Charithra Chandran attends a Vogue and Netflix event in a look styled by Holly White. "We're having conversations about the directions we want to go, when we want to push certain silhouettes, what we want to say with certain looks," White said.
Persons: , Holly White, White, I'd, Mary, Kate, Ashley Olsen, Tim Walker, wasn't, Luke Newton, Tom Hiddleston, Loki, Milly Alcock, Holly White White, Amarteifio, Tolu Coker, India Amarteifio, Kayla Oaddams, Charithra Chandran, Jeff Spicer, Newton, They've, Luke, Jamie McCarthy Organizations: Service, Business, London College of Fashion, Vogue, Netflix, Newtown, Getty Locations: London, India, British, Nigerian, Amarteifio
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