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☆ Sabalenka looks to march on at US Open with top ranking in the bag
▼ + stars: | 2023-09-04 | by ( ) www.reuters.com time to read: +3 min

Swiatek fell 3-6 6-3 6-1 to former French Open champion Jelena Ostapenko and Sabalenka - who has a 20-2 record at the majors this year - will aim to push on after accomplishing another of her main objectives for the season. "Reaching the WTA world number one singles ranking is something I've dreamed of ever since I was a little girl when I started playing tennis," Sabalenka, 25, said. "I'm feeling really well on court, really comfortable. I always say that I can be better, but right now I'm really happy with the level that I'm playing." Reporting by Shrivathsa Sridhar in Bengaluru; Editing by Ken FerrisOur Standards: The Thomson Reuters Trust Principles.

Persons: France's Clara Burel REUTERS, Shannon Stapleton, Daria Kasatkina, Swiatek, Jelena Ostapenko, I've, Arthur Ashe, Carlos Alcaraz, Matteo Arnaldi, Alcaraz, Madison Keys, Jessica Pegula, Alexander Zverev, Louis Armstrong, Peyton Stearns, Marketa Vondrousova, Andrey Rublev, Daniil Medvedev, Briton Jack Draper, Alex de Minaur, Zheng Qinwen, Shrivathsa Sridhar, Ken Ferris Organizations: Aryna, U.S, Madison, Louis, Wimbledon, Briton, Tunisian, U.S ., Thomson Locations: Flushing Meadows , New York, United States, Belarus, Belarusian, York, Flushing Meadows, Bengaluru

☆ US Open: Jessica Pegula and Madison Keys reach fourth round as Americans continue to shine
▼ + stars: | 2023-09-03 | by ( Issy Ronald | ) edition.cnn.com time to read: +2 min

CNN —Jessica Pegula advanced to the fourth round of the US Open with a hard fought 6-4 4-6 6-2 victory over Ukraine’s Elina Svitolina, continuing the impressive performances of American players at their home tournament. 3 seed will now face her compatriot Madison Keys for a place in the quarterfinals after Keys completed a 5-7 6-2 6-2 victory over Russia’s Liudmila Samsonova in her own third-round match. She really picked up her level and forced me to go after that third set.”Remarkably, Pegula has also reached the fourth round in both the doubles and mixed doubles at Flushing Meadows. Robert Prange/Getty ImagesPeyton Stearns will also join her compatriots in the fourth round after she defeated Britain’s Katie Boulter to reach this stage of a grand slam for the first time in her career. But with Pegula, Keys, Stearns and Coco Gauff all reaching the fourth round and with Taylor Fritz, Frances Tiafoe, Tommy Paul and Ben Shelton all still in contention in the men’s draw, American tennis seems to be flourishing again.

Persons: Jessica Pegula, Ukraine’s Elina Svitolina, Madison Keys, Keys, Svitolina, Pegula didn’t, Pegula’s, “, ” Pegula, “ She’s, Pegula, ”, Robert Prange, Peyton Stearns, Britain’s Katie Boulter, Marketa, Pete Sampras, Serena Williams, Stearns, Coco Gauff, Taylor Fritz, Frances Tiafoe, Tommy Paul, Ben Shelton, Marie Bouzkova, Carlos Alcaraz, Britain’s Dan Evans Organizations: CNN, Wimbledon, WTA, Flushing, Madison, NCAA Locations: Flushing Meadows, USA, Keys, Czech

Third seed Daniil Medvedev once again worked the U.S. Open graveyard shift on Saturday, beating in-form Sebastian Baez 6-2 6-2 7-6(6) to end the Argentine's 12 match winning streak. Against the 26th seeded Evans the 20-year-old Spaniard mixed moments of brilliance with lapses in focus but was never really threatened on his way to 6-2 6-3 4-6 6-3 win. Top seeded Briton, number 16 Cameron Norrie, was dumped out 6-3 6-4 6-3 by Italian Matteo Arnaldi while American Peyton Stearns pushed the last British woman Katie Boulter to the exit with a 6-4 6-3 victory. Joining Pegula were 2017 finalist Madison Keys, a 5-7 6-2 6-2 winner over 14th seed Liudmila Samsonova, Stearns and sixth seed Coco Gauff, who booked her spot on Friday with a win over Elise Mertens. Reporting by Steve Keating and Amy Tennery in New York, editing by Lincoln FeastOur Standards: The Thomson Reuters Trust Principles.

Persons: Spain's Carlos Alcaraz, Britain's Daniel Evans, Shannon Stapleton, Carlos Alcaraz aced, women's, Aryna Sabalenka, France's Clara Burel, Arthur Ashe, Czech Marie Bouzkova, Jabeur, Bouzkova, Daniil Medvedev, Sebastian Baez, Medvedev, Christopher O'Connell, Roger Federer, Evans, Alcaraz's, Jack Draper, Michael Mmoh, Draper, Winston, Cameron Norrie, Matteo Arnaldi, Peyton Stearns, Katie Boulter, Jessica Pegula, Ukraine's Elina Svitolina, Pegula, Madison Keys, Liudmila Samsonova, Stearns, Coco Gauff, Elise Mertens, Pete Sampras, Serena Williams, Taylor Fritz, Frances Tiafoe, Tommy Paul, Ben Shelton, Sloane Stephens, Keys, Andy Roddick's, Jannik, Stan Wawrinka, Alexander Zverev, Bulgarian Grigor Dimitrov, Steve Keating, Amy Tennery, Lincoln Organizations: Tennis, Britain's Daniel Evans REUTERS, U.S, Czech, American, Bulgarian, Thomson Locations: Flushing Meadows , New York, United States, U.S, New York, Salem, British, Flushing, Flushing Meadows

☆ Pegula and Keys into last 16 as American buzz builds at U.S. Open
▼ + stars: | 2023-09-02 | by ( Steve Keating | ) www.reuters.com time to read: +2 min

After straight set romps in her first two matches, Pegula received her first test in the form of gritty veteran Svitolina, a U.S. Open semi-finalist in 2019. Pegula had the only break in a tight opening set but that would be all she needed for a 1-0 lead. In the second it was Svitolina finally getting her first break chance and making the most of the opportunity to pull level. The last time Flushing Meadows had a chance to celebrate a homegrown women's champion was in 2017 when Sloane Stephens beat Keys in an all-American final. Keys is back and making another run after taming 14th seed Liudmila Samsonova 5-7 6-2 6-2 to set up the clash with Pegula.

Persons: Jessic, Elina Svitolina, USTA Billie Jean King, Robert Deutsch, Jessica Pegula, Ukraine's Elina Svitolina, Madison Keys, Pete Sampras, Serena Williams, Coco Gauff, Taylor Fritz, Frances Tiafoe, Pegula, Svitolina, Sloane Stephens, Keys, Gauff, Belgian Elise Mertens, Peyton Stearns, Katie Boulter, Steve Keating, Ken Ferris Organizations: USTA Billie, USTA Billie Jean King National Tennis Center, U.S, Canadian, Belgian, Thomson Locations: Flushing , NY, USA, Ukraine, Flushing, Flushing Meadows, U.S, New York

The Manhattan federal court filing detailing her connection to Epstein was filed by the government of the U.S. Virgin Islands, which is suing JPMorgan. On Tuesday, newly unsealed court filings by the bank show that Epstein was asked by former U.S. Virgin Islands Gov. A spokesman for the Virgin Islands' Attorney General's Office told CNBC that Epstein's loan to former Gov. The Virgin Islands spokesman also said that "it was the federal government and not the Virgin Islands government that granted the 'U.S. Epstein was not severed as a JPMorgan client for another two years.

Persons: Kathy Ruemmler, William B, Plowman, NBCUniversal, Jeffrey Epstein, Kathryn Ruemmler, Ruemmler, Goldman Sachs, —, Epstein, JPMorgan, Barack Obama, Leslie Groff, Mary Erdoes, Stacey Friedman, litigator, Latham, Watkins, Nicholas Ribis, Donald Trump, Ribis, Virgin, Jes Staley, John de Jongh Jr, Jongh, de, Cecile, General's, de Jongh, John de Jongh, Erdoes, Bear Stearns, Staley Organizations: White, Washington , D.C, Obama White, JPMorgan Chase, JPMorgan, CNBC, U.S ., Virgin, U.S . Virgin Islands Gov, Southern Trust Company, Virgin Islands, Customs, Border, Gov, Virgin Islands Department of Justice, U.S . Customs Locations: Washington ,, Manhattan, Florida, U.S, U.S . Virgin, Latham, Virgin

☆ Warren Buffett's former deputy who snagged her job with a daring letter says the risk of doing so is 'pretty low' — so why not try
▼ + stars: | 2023-08-07 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +3 min

Warren Buffet protégé Tracy Britt Cool famously got her job with Buffet by asking for one in a letter in 2009. She said on CNBC Make It that the risk of doing so is pretty low, "so why not try?" While her letter to Buffet helped land her the job, Britt Cool told CNBC that she also wrote letters to executives she admired while still a student. Britt Cool isn't alone in her proactive approach to career building. Britt Cool did not immediately respond to a request for comment from Insider sent outside regular business hours.

Persons: Warren Buffet protégé Tracy Britt Cool, Buffet, Morgan Stanley's, Bear Stearns, Tracy Britt Cool, Berkshire Hathaway, Britt Cool, Morgan Stanley, That's, I've, Britt Cool isn't, Madonna, Hunter, Thompson Organizations: CNBC, Service, Warren, Oracle, New York Times, Bloomberg, Berkshire Hathaway, Wall Street Journal, Berkshire, Vancouver Sun Locations: Wall, Silicon, Berkshire, Omaha

NEW YORK, July 25 (Reuters) - Joe Lewis, the British billionaire and owner of the Tottenham Hotspur soccer team, has been criminally charged in New York for orchestrating a "brazen" insider trading scheme. Joe Lewis is a wealthy man," U.S. Attorney Damian Williams said in a video on the X social media platform, formerly known as Twitter. Insider trading has long been a focus of Williams' office, dating to 2009 when a crackdown began under one of his predecessors, Preet Bharara. Prosecutors said that in some insider trading cases, Lewis lent money to recipients of his tips, including in Oct. 2019 when he wired $1 million to two pilots so they could buy more Mirati shares. Reporting by Jonathan Stempel and Luc Cohen in New York; Editing by Chris Reese and Lincoln Feast.

Persons: Joe Lewis, Lewis, Damian Williams, " Williams, Williams, Preet Bharara, Mirati, Boss, Marty, JPMorgan Chase, Jonathan Stempel, Luc Cohen, Chris Reese, Lincoln Organizations: YORK, Tottenham Hotspur, Prosecutors, U.S, Tavistock Group, Forbes, Therapeutics, Biosciences, Australian Agricultural, U.S . Securities, Exchange Commission, JPMorgan, Thomson Locations: New York, Tavistock, Bear Stearns

LONDON, July 3 (Reuters Breakingviews) - Canary Wharf may be in trouble once again. While CWG’s average tenancy agreement still has 10 years left, the risk is that itself and the wider Canary Wharf area slip into a vicious circle. Rental incomes on apartments are roughly on a par with offices, per square foot, according to a person familiar with the matter. The 45-storey skyscraper in Canary Wharf has been HSBC's home for more than 20 years. Canary Wharf Group, which runs the east London financial district, declined to comment.

Persons: Paul Reichmann’s Olympia, Morgan Stanley, CWG, Knight Frank, Hong Kong’s Cheung, Bear Stearns, that’s, Liam Proud, Pranav Kiran Organizations: Reuters, Docklands, HSBC, York, Saudi Arabian, Canary Wharf Group, Barclays, Estates, Brookfield Property Partners, Qatar Investment Authority, Brookfield, Canary, QIA, Moody’s, Reuters Graphics Reuters, Hong Kong’s Cheung Kei Group, Churchill, NYK, Transport, BT, Thomson Locations: London, Canary, Canadian, Saudi, U.S, Brookfield, That’s, Docklands, Stratford, Wharf, QIA, Canary Wharf, Europe's

☆ Hawthorne’s Marked-Up Proofs for the ‘Scarlet Letter’ Could Fetch $600,000
▼ + stars: | 2023-06-14 | by ( Kelly Crow | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones Organizations: bruce Locations: hawthorne

☆ JPMorgan bond chief Bob Michele sees worrying echoes of 2008 in market calm
▼ + stars: | 2023-06-09 | by ( Hugh Son | ) www.cnbc.com time to read: +6 min

"This does remind me an awful lot of that March-to-June period in 2008," said Michele, rattling off the parallels. Last month, JPMorgan bought failed regional player First Republic; in March 2008, JPMorgan took over the investment bank Bear Stearns. Michele oversees more than $700 billion in assets for JPMorgan and is also global head of fixed income for the bank's asset management arm. The cycle coincides with the central bank's steps to rein in market liquidity through a process known as quantitative tightening. Brown | AFP | Getty Images"There are a lot of things that resonate with 2008" including overvalued real estate, he said.

Persons: Bob Michele, JPMorgan Chase, Michele, Jamie Dimon, Rick Rieder, Goldman Sachs, Jan Hatzius, Frederic J, Brown, Ribbing Organizations: & Commodities, JPMorgan, CNBC, First, Bear Stearns, Wall Street, Fed, AFP, Getty Locations: York, BlackRock, Downtown, Los Angeles , California, refinance

☆ Sabalenka powers into French Open fourth round, Khachanov survives
▼ + stars: | 2023-06-02 | by ( Shrivathsa Sridhar | ) www.reuters.com time to read: +2 min

PARIS, June 2 (Reuters) - Aryna Sabalenka swatted aside Kamilla Rakhimova to remind her rivals of her French Open title credentials while Russian 11th seed Karen Khachanov also moved into the fourth round by stopping wildcard Thanasi Kokkinakis on Friday. Sabalenka, the big-serving world number two, beat Russian Rakhimova 6-2 6-2 on a sunbathed Court Philippe Chatrier to set up a clash with American Sloane Stephens or Yulia Putintseva of Kazakhstan in her quest for a second Grand Slam title. "So I have to do it with my legs, with the brain, and try to squeeze the maximum I can." Last year's semi-finalist Kasatkina will need to show her best form again in the next round where she can potentially meet former world number three Elina Svitolina. Novak Djokovic, who is seeking a 23rd Grand Slam title, is in action against Alejandro Davidovich Fokina while world number one Carlos Alcaraz will play Denis Shapovalov in the evening session.

Persons: Karen Khachanov, Kokkinakis, Sabalenka, Philippe Chatrier, Sloane Stephens, Yulia Putintseva, Khachanov, Jessica Pegula, Elise Mertens, Mertens, Daria Kasatkina, Peyton Stearns, Kasatkina, Elina Svitolina, Anna Blinkova, Anastasia Pavlyuchenkova, Anastasia Potapova, Novak Djokovic, Alejandro Davidovich Fokina, Carlos Alcaraz, Denis Shapovalov, Shrivathsa Sridhar, Pritha Sarkar Organizations: Kokkinakis, Thomson Locations: Kazakhstan, Paris

☆ Svitolina gets past Blinkova to stay on track at French Open
▼ + stars: | 2023-06-02 | by ( Shrivathsa Sridhar | ) www.reuters.com time to read: +1 min

PARIS, June 2 (Reuters) - Former French Open quarter-finalist Elina Svitolina moved into the Roland Garros fourth round with a determined performance to stave off giant-killing Russian Anna Blinkova and claim a 2-6 6-2 7-5 victory on Friday. Svitolina returned to the WTA Tour at the Charleston Open in April following the birth of her daughter Skai with husband and fellow tennis player Gael Monfils and bagged her first title in two years by beating Blinkova in last week's Strasbourg final. Blinkova had stunned fifth seed Caroline Garcia in the last round and the 24-year-old refused to surrender as she clawed her way back from 1-3 and went toe-to-toe with Svitolina until 5-5 before the Ukrainian sealed the win with a superb backhand pass. Up next for Svitolina is another Russian - last year's semi-finalist Daria Kasatkina - who beat Peyton Stearns. Reporting by Shrivathsa Sridhar in Paris Editing by Christian RadnedgeOur Standards: The Thomson Reuters Trust Principles.

Persons: Elina Svitolina, Roland Garros, Russian Anna Blinkova, Svitolina, Skai, Gael Monfils, Blinkova, Caroline Garcia, Daria Kasatkina, Peyton Stearns, Shrivathsa Sridhar, Christian Radnedge Organizations: WTA, Charleston, Strasbourg, Thomson Locations: Russian, Paris

☆ Tsitsipas, Alcaraz soar at French Open, Djokovic row simmers
▼ + stars: | 2023-05-31 | by ( Shrivathsa Sridhar | ) www.reuters.com time to read: +5 min

Unlike after his opening match on Monday, however, there was no message on the camera lens the Serbian signed and the 22-times Grand Slam champion looked to draw a line under the issue. Djokovic missed last year's Australian Open and was deported from the country due to being unvaccinated for COVID. He won the Melbourne title this year despite a row that erupted after his father posed with some fans holding Russian flags. "A drama-free Grand Slam, I don't think it can happen for me," Djokovic added. Anna Blinkova dashed French hopes with a stunning 4-6 6-3 7-5 victory over fifth seed Caroline Garcia, wrapping up victory on her ninth match point.

Persons: Roland Garros, Stefanos Tsitsipas, Spain's Roberto Carballes Baena, Benoit Tessier, Alcaraz, Djokovic, Garcia, Tsitsipas, Carlos Alcaraz, Novak Djokovic, Jiri Vesely, Roberto Carballes Baena, Japan's Taro Daniel, Denis Shapovalov, Ismet Krasniqi, Amelie Oudea, Castera, Elina Svitolina, Australian Storm Hunter, Svitolina, Sabalenka, Iryna Shymanovich, Marta Kostyuk, I've, Jelena Ostapenko, Peyton Stearns, Barbora, Lesia Tsurenko, Swiatek, Suzanne Lenglen, Jessica Pegula, Camila Giorgi, Anna Blinkova, Caroline Garcia, Kokkinakis, Stan Wawrinka, Andrey Rublev, Corentin, Shrivathsa Sridhar, Toby Davis, Ed Osmond Organizations: Spain's Roberto Carballes Baena REUTERS, Tennis Federation, Serbian, Marton, COVID, Melbourne, Kosovo Olympic, International Olympic Committee, Kosovo's Olympic, International Tennis Federation, Australian Storm, Thomson Locations: Paris, France, Kosovo, PARIS, Serbia, Marton Fucsovics, Serbian, Ukrainian, Ukraine

☆ Factbox: The JPMorgan executives who will update investors on First Republic, strategy
▼ + stars: | 2023-05-22 | by ( Nupur Anand | ) www.reuters.com time to read: +5 min

REUTERS/Marco... Read moreNEW YORK, May 22 (Reuters) - JPMorgan Chase & Co (JPM.N) executives will update investors on its takeover of failed First Republic Bank, which has made the biggest U.S. bank even bigger. CEO Jamie Dimon and other top executives will present their strategies at an investor day at its headquarters in New York on Monday. Lake and Piepszak are among the executives in charge of integrating First Republic Bank after it was shuttered by authorities on May 1. JEREMY BARNUM, CHIEF FINANCIAL OFFICERBarnum was promoted to CFO in 2021 after leading global research. The finance chief joined JPMorgan in 1994, serving in various roles including CFO and chief of staff for the investment bank.

☆ NBCUniversal’s New Leader, a Hollywood Outsider, Steps Into the Spotlight
▼ + stars: | 2023-05-22 | by ( Benjamin Mullin | ) www.nytimes.com time to read: +1 min

Jeff Shell, who oversaw the media company before him, was fired after an investigation into sexual harassment. Linda Yaccarino, who ran the company’s multibillion-dollar ad business, left abruptly this month to become the chief executive of Twitter. NBCUniversal is losing billions on its streaming service, Peacock, while viewership of its traditional TV networks continues to fade. In 2008, when the U.S. financial system was on the brink of failure, Mr. Cavanagh was a senior executive at JPMorgan Chase, one of the few major banks that was not at risk of collapse. He spent time alongside Jamie Dimon, JPMorgan’s chief executive, and other executives during all-nighters to work out the details of acquiring Bear Stearns, a rival on the verge of bankruptcy.

☆ JPMorgan investors to scrutinize First Republic takeover
▼ + stars: | 2023-05-19 | by ( Nupur Anand | ) www.reuters.com time to read: +4 min

Analysts will seek more details about the deal and JPMorgan's plans to integrate First Republic's business into the largest U.S. bank. FIRST REPUBLICJPMorgan has agreed to undertake $173 billion of the failed bank's loans, $30 billion of securities and $92 billion of deposits after First Republic was shuttered down by authorities. Dimon had said that he expects blowback from the FRC deal earlier this month in an interview on Bloomberg TV. loadingAn acquisition of this scale will raise question on integration, execution risks, employee retention among others, analysts believe. JPMorgan has made 19 acquisitions since 2020 but the last major purchase of this scale by the lender was in 2008 of Bear Stearns.

☆ Markets next week may keep thinking about what could go right
▼ + stars: | 2023-05-19 | by ( Scott Schnipper | ) www.cnbc.com time to read: +7 min

At least that's the thinking of a small but growing chorus of voices on Wall Street who outline the case for further stock market gains after both the S & P 500 and Nasdaq Composite touched nine-month highs this past week. The VIX was trading around 16-17 late this week, signaling no great fear among professional traders. Walmart and other retailers this week highlighted consumers are spending less freely, but they're still spending , and that drives two thirds of the economy. Even Mark Haefele, chief investment officer at UBS Global Wealth Management, wrote late this week that he has to entertain what could go right in markets, despite the fact his own view is fundamentally bearish. If that "upside scenario" happens, UBS sees global stocks moving 13% higher by the end of December, and the S & P 500 surging another 6% — to north of 4,400.

☆ Default isn't necessary to trigger US debt downgrade, says Guggenheim's Schwartz
▼ + stars: | 2023-05-16 | 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 EmailDefault isn't necessary to trigger US debt downgrade, says Guggenheim's SchwartzAlan Schwartz, Guggenheim Partners executive chairman and former Bear Stearns CEO, joins 'Squawk on the Street' to discuss the nation's current debt limit debate, if IPOs can get a 'window' this summer and much more.

☆ The Brutal Past and Uncertain Future of Native Adoptions
▼ + stars: | 2023-05-16 | by ( Gabrielle Glaser | ) www.nytimes.com time to read: +2 min

“This law has helped us return home,” said Ms. White Hawk, who is also the author of “A Child of the Indian Race,” a memoir. “It has helped us to reclaim our spiritual wealth as Indian people.”For Mr. Stearns, the road to connect with his Navajo self was long and uneven. “His long hair made my mom suspicious,” Mr. Stearns said. Mr. Stearns said that his parents, who are both dead, never hid his adoption, and were proud that he was Navajo. “They were in it to show the love they had to a kid.” But Mr. Stearns could never breach a more personal chasm.

☆ Why the US needs regional banks
▼ + stars: | 2023-05-14 | by ( Allison Morrow | ) edition.cnn.com time to read: +5 min

But those mega-banks lack the dexterity and regional specialization that small businesses crave, which is partly why Corporate America and policy makers alike are worried about the continued turmoil among regional banks. In just two months, a spark of panic has turned into a conflagration that has put America’s regional banks on notice. All of those banks share a status in common as a “regional” or “sector-specific” lender. By definition, regional banks are more specialized and focused. Without raising the cap, Hockett argues, we risk letting the Wall Street banks gobble up their smaller competition when those regional lenders fail.

☆ The Week in Business: The 10th Straight Rate Increase
▼ + stars: | 2023-05-07 | by ( Marie Solis | ) www.nytimes.com time to read: +4 min

It was the third consecutive increase of that size and the 10th straight rate increase since last March. This encroaching deadline presents a tricky political problem for Mr. Biden. Republicans are trying to extract concessions from Mr. Biden that would significantly undermine his agenda. He could negotiate spending cuts but divorce those discussions from the debt limit. There is one other possible option: a constitutional challenge to the debt limit, a long-shot plan that would rely on a clause in the 14th Amendment.

☆ Talk of banning short sales is suddenly in the air, but history argues against it
▼ + stars: | 2023-05-05 | by ( Bob Pisani | ) www.cnbc.com time to read: +6 min

It's just a hop, skip and a jump away from the obvious conclusion: ban short sellers! There are already rules to prevent violation of short selling rules Fortunately, the SEC has not (at least yet) jumped on this bandwagon. Gensler, however, has made it clear he is looking out for bad actors who may be violating existing laws on short selling. For example, there are rules that prohibit naked short selling , the practice of short selling shares that haven't first been borrowed. When short selling is banned, traders who want to buy stock but need to hedge their risk will be hesitant to do so."

☆ JPMorgan could be the banking sector’s biggest hero — or biggest risk
▼ + stars: | 2023-05-03 | by ( Krystal Hur | ) edition.cnn.com time to read: +7 min

And as the bank swells in size, so does the potential risk it poses to the nation’s financial system. Some experts say they’re concerned that JPMorgan’s continued intervention during times of crisis has broader implications for the banking sector, the US financial system and its regulation. And with every failed bank that JPMorgan snaps up, the conundrum becomes clearer: JPMorgan is essentially the biggest risk to the financial system — and every time it expands to uphold the sector’s stability, so does its risk to the financial system. It has “that ability once again, to signal to the world that JPMorgan is a fortress, JPMorgan is the ultimate. But recent failures and the missteps that led to them indicate that deep flaws underline the financial system.

May 1 (Reuters) - Regulators seized First Republic Bank (FRC.N) and sold its assets to JPMorgan Chase & Co (JPM.N) on Monday, in a deal to resolve the largest U.S. bank failure since the 2008 financial crisis and draw a line under a lingering banking turmoil. Shares of JPMorgan rose 2% on Monday, while those of mid-tier banks fell and the KBW Regional Banking Index (.KRX) closed down 2.7%. [1/3] People walk past a First Republic Bank branch in San Francisco, California, U.S. April 28, 2023. "This is not the world financial crisis, this is not the savings and loan crisis. The failed bank's 84 offices in eight states will reopen as branches of JPMorgan Chase Bank from Monday, it added.

☆ How JPMorgan Became Banking’s Regular Rescuer
▼ + stars: | 2023-05-02 | by ( Emily Flitter | ) www.nytimes.com time to read: +1 min

It was well before dawn on Monday when federal regulators notified JPMorgan Chase executives that they had beaten out three smaller rivals in their bid to buy the doomed First Republic Bank. By the time the sun rose, JPMorgan’s longtime chief executive, Jamie Dimon, was once again illuminated as the industry’s savior — and the architect of yet another government-brokered deal to help his gargantuan institution grow even larger. First Republic was the third institution that Mr. Dimon had agreed to buy in a federally backed transaction, following its takeovers of Bear Stearns and Washington Mutual during the 2008 financial crisis. All three deals have helped defuse panics, but they have also benefited JPMorgan, which, with $2.6 trillion in assets and 14 percent of all deposits in the United States, enjoys unparalleled reach inside the world’s largest economy. JPMorgan’s agreement to buy First Republic is expected to boost the bank’s profits by $500 million this year and will give it access to a stable of wealthy clients.

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