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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBank earnings show big jumps in net interest income and healthy spreadsCNBC's Hugh Son joins 'Squawk on the Street' to discuss bank earnings, the likelihood for further bank contagion, and Jamie Dimon's commentary on the state of the economy.
Drop any Wall Street (or non-Wall Street) questions you have for me here. A quick refresher: JPMorgan accused Javice of juicing Frank's customer numbers in a lawsuit filed at the end of last year. Prosecutors charged Javice with wire fraud affecting a financial institution, securities fraud, bank fraud, and conspiracy. I've joked about it before, but Taylor Swift really should teach a class on this stuff for Wall Street. It's not the president or Wall Street or Congress that's to blame.
Inflation is going to drop hard, says Starwood Capital CEO
  + stars: | 2023-04-04 | 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 EmailInflation is going to drop hard, says Starwood Capital CEOBarry Sternlicht, Starwood Capital Group chairman and CEO, joins CNBC's 'Squawk Box' to discuss Sternlicht's reaction to Jamie Dimon's recent comments, the lag effect of rent growth, and more.
Watch CNBC's full interview with GenTrust's Mimi Duff
  + stars: | 2023-04-04 | 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 EmailWatch CNBC's full interview with GenTrust's Mimi DuffMimi Duff, GenTrust managing director, joins 'Squawk Box' to discuss Jamie Dimon's comments from his annual letter, Duff's thoughts on a potential recession, and where the economy stands in turmoil created by the banking crises.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Barry Sternlicht on the SVB fallout and state of U.S. economyBarry Sternlicht, Starwood Capital Group chairman and CEO, joins CNBC's 'Squawk Box' to discuss his reaction to Jamie Dimon's recent comments, the lag effect of rent growth, and more.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFinancial turmoil from bank collapses aren't over: GenTrust's DuffMimi Duff, GenTrust managing director, joins 'Squawk Box' to discuss Jamie Dimon's comments from his annual letter, Duff's thoughts on a potential recession and where the economy stands in the turmoil created from the banking crises.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBank crisis 'a simpler fix' than last time in '08: Semafor's HoffmanLiz Hoffman, Semafor business and finance editor, joins 'Squawk Box' to discuss Jamie Dimon's annual letter, how to ensure the banks are investible, and more.
Insider's Carter Johnson has a story on one executive whose profile continues to rise: Jamie Dimon. Carter's story got me thinking: Who's the most powerful person in finance? Warren Buffett: Before you jump down my throat, realize this is a list of the most powerful people in finance not on Wall Street. Place your vote here — or name someone else — for who you think is the most powerful person in finance. The bank was hit with a nearly $100 million fine for letting a foreign bank make prohibited transactions, The Wall Street Journal reports.
Bonds may have become more appealing as Treasury yields hit new highs. But investment strategist Amy Kong says stocks are still attractive. Bonds compete with stocks for investor dollars, so when bond yields rise, stock prices can go down. But Kong remains upbeat on the longer term. Valuations remain a critical metric to consider as higher price-to- earnings stocks carry greater downside risk.
That's because many of the decisions Solomon made over the next four years — along with aspects of the firm's hard-charging, ego-driven culture — ultimately led to the collapse of Goldman's consumer ambitions, according to a dozen people with knowledge of the matter. Goldman executives were eager to seal the deal with the tech giant, which happened before Solomon became CEO, they added. The rapid growth of the card, which was launched in 2019, is one reason the consumer division saw mounting financial losses. Within months, Ismail left Goldman, sending shock waves through the consumer division and deeply angering Solomon. Goldman should plow some of those volatile earnings into more durable consumer banking revenues, the thinking went.
Feb 25 (Reuters) - Blackstone Inc (BX.N) Chief Executive Officer Steve Schwarzman took home about $1.26 billion in pay and dividends for 2022, a regulatory filing showed. Schwarzman received more than $1 billion in dividends from his Blackstone shares and $253.1 million in compensation, filing showed on Friday. Goldman Sachs Group Inc (GS.N) slashed compensation for CEO David Solomon by 29% to $25 million for 2022, while JPMorgan Chase & Co (JPM.N) CEO Jamie Dimon's total compensation was unchanged at $34.5 million. Schwarzman owns about 230 million shares in Blackstone according to a filing from February, and the company paid $4.40 in annual dividend, filings showed. Blackstone ended the quarter with $974.7 billion of total assets under management and declared a quarterly dividend of 91 cents per share.
Feb 25 (Reuters) - Blackstone Inc (BX.N) Chief Executive Officer Steve Schwarzman took home about $1.26 billion in pay and dividends for 2022, a regulatory filing showed. Schwarzman received more than $1 billion in dividends from his Blackstone shares and $253.1 million in compensation, filing showed on Friday. Goldman Sachs Group Inc (GS.N) slashed compensation for CEO David Solomon by 29% to $25 million for 2022, while JPMorgan Chase & Co (JPM.N) CEO Jamie Dimon's total compensation was unchanged at $34.5 million. Schwarzman owns about 230 million shares in Blackstone according to a filing from February, and the company paid $4.40 in annual dividend, filings showed. Blackstone ended the quarter with $974.7 billion of total assets under management and declared a quarterly dividend of 91 cents per share.
In a Thursday filing in Manhattan federal court, the U.S. Virgin Islands said JPMorgan's wrongful conduct continued at least until August 2019, when Epstein killed himself. The U.S. Virgin Islands called Dimon "a likely source of relevant and unique information" about decisions to retain Epstein as a client, and discussions on Epstein's referrals of prominent and wealthy potential clients. According to the filing, the business referral relationship continued after Epstein stopped being a client. The U.S. Virgin Islands is suing JPMorgan for unspecified damages, saying the bank should have known about its "high-risk" former client's misconduct on a private island he owned there. The case is Government of the U.S. Virgin Islands v JPMorgan Chase Bank NA, U.S. District Court, Southern District of New York, No.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe data does not reflect an imminent slowdown, says NewEdge's Cameron DawsonCameron Dawson, chief investment officer of NewEdge Wealth, joins 'Closing Bell' to discuss Jamie Dimon's recession comments, the case for rates staying higher longer and valuation estimates for 2023.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email:PRO: Watch CNBC’s full interview with Wells Fargo's Mark Smith and Strategas' Jason TrennertMark Smith, Wells Fargo Advisors SVP, and Jason Trennert, Strategas chairman, join 'The Exchange' to discuss JPMorgan CEO Jamie Dimon's comments today about recession and the markets overall.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWells Fargo's Mark Smith advises investors to look to banks if rates stay higher for longerMark Smith, Wells Fargo Advisors SVP, and Jason Trennert, Strategas chairman, joins 'The Exchange' to discuss JPMorgan CEO Jamie Dimon's comments earlier today about a recession and the markets overall.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe labor market looks resilient against the Fed's tightening, says T. Rowe Price's Sebastien PageSebastien Page, T. Rowe Price head of global multi asset and chief investment officer, joins 'Closing Bell Overtime' to discuss Jamie Dimon's comments on economic strength, the employment market and pricing in a hard landing.
Moynihan's pay included a base salary of $1.5 million and restricted stock. In deciding his compensation, the bank's board cited the executive's leadership in a period of "considerable economic uncertainty." U.S. lending giants have cut or frozen pay for their top executives in recent weeks, citing challenging economic and business conditions. Goldman Sachs Group Inc (GS.N) slashed compensation for CEO David Solomon by 29% to $25 million for 2022, while his counterpart at Morgan Stanley (MS.N), James Gorman, got a 10% pay cut to $31.5 million. At JPMorgan Chase & Co (JPM.N), Jamie Dimon's compensation was held steady at $34.5 million.
Life at Durlston Partners. Insider's Alex Morrell has a gripping report on life at Durlston Partners, a headhunting firm that places talent at some of Wall Street's biggest buy-side firms. Durlston Partners, or "DP" as it was known within the company, promoted an unbeatable culture. Click here to read more about life inside Durlston Partners and allegations about the leadership of Bahram. Jamie Dimon's 17-year tenure on the top of JPMorgan has made him the face of Wall Street.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJPMorgan CEO Jamie Dimon: I would prepare for the Europe energy crisis to get worse'Mad Money' host Jim Cramer and the 'Squawk on the Street' team discuss JPMorgan CEO Jamie Dimon's recent comment on Europe's energy crisis. In an interview with CBS's "Face the Nation" on Sunday, he said, "... if I were in the government or anywhere else, I'd say, I have to prepare for getting much worse. I hope it doesn't. But I would definitely be preparing for it to get much worse."
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailI did not like JPMorgan CEO Jamie Dimon's attitude toward the economy, says Jim Cramer'Mad Money' host Jim Cramer joins 'Squawk Box' ahead of the market open on Wednesday to explains why he disagrees with JPMorgan Chase CEO Jamie Dimon's economic outlook.
There are few top executives who draw as much attention and speak as freely as Jamie Dimon, the CEO of JPMorgan. "Inflation is eroding everything…and that $1.5 trillion will run out sometime mid-year next year," Dimon said. Never one to mince words, Dimon then blasted the cryptocurrency sector when asked what he thought of the FTX collapse. Meanwhile, days after the EU's $60 per barrel price cap kicked in, oil prices slumped to levels not seen since before the invasion of Ukraine. There's been much debate about how the measure will alter oil prices moving forward — but PIMCO commodities strategist Greg Sharenow said it's going to come down to three factors.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJim Cramer explains why he disagrees with Jamie Dimon's economic outlook'Mad Money' host Jim Cramer reacts to comments JPMorgan Chase CEO Jamie Dimon made to CNBC about the state of the U.S. economy and his concerns about a potential recession.
Al Drago | Bloomberg | Getty ImagesJPMorgan Chase President Daniel Pinto has vivid memories of what life is like when a country loses control of inflation. "If it causes a slightly deeper recession for a period of time, that is the price we have to pay." The Fed funds rate will probably peak at around 5%; that, along with a rise in unemployment, will likely curb inflation, Pinto said. "We're dealing with a market that is pricing the probability of recession and how deep it's going to be," Pinto said. "Real rates should be higher in the next 20 years than they were in the last 20 years," Pinto said.
91% of US CEOs anticipate there will be recession in the next 12 months, according to a KPMG survey. The Fed will further raise interest rates to combat inflation, which will increase costs for businesses. Those interest rates also mean that credit card and loan debt will get more expensive. Musk told investors in October that "North America is in pretty good health," but pushed back on the Fed's decision to keep raising interest rates. Citadel CEO Ken Griffin"Everybody likes to forecast recessions, and there will be one," Citadel's billionaire CEO told CNBC in late September, noting that he thinks inflation has peaked.
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