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Watch CNBC's full interview with JPMorgan's Jamie Dimon
  + stars: | 2023-01-19 | 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 JPMorgan's Jamie DimonJamie Dimon, JPMorgan Chase chairman and CEO, joins 'Squawk Box' to discuss Dimon's thoughts on the economy, what Dimon is advising clients at this time and the United States' relationship with China.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJPMorgan's Jamie Dimon lays out economic forecast for 2023 and worries over geopolitical conflictJamie Dimon, JPMorgan Chase chairman and CEO, joins 'Squawk Box' to discuss Dimon's thoughts on the economy, what Dimon is advising clients at this time and the United States' relationship with China.
JPMorgan's Jamie Dimon: Bitcoin is a 'hyped-up fraud'
  + stars: | 2023-01-19 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJPMorgan's Jamie Dimon: Bitcoin is a 'hyped-up fraud'Jamie Dimon, JPMorgan Chase chairman and CEO, joins 'Squawk Box' to discuss Dimon's thoughts on cryptocurrencies and the blockchain technology behind it.
On tap we've got stories on JPMorgan's Jamie Dimon fielding questions about the bank's acquisition strategy, another bank plans to make cuts, and fast food options that won't completely crush your diet. On Wednesday the bank conducted a majority of its cuts, reducing its global workforce by about 6.5%. A few days later, on Friday, the bank reported losses of more than $3 billion since 2020 in the unit that houses the bank's consumer lending business. Meanwhile, some of the recently axed Goldman employees have been left in the dark on what's next for them, according to reporting from Hayley and Emmalyse Brownstein. Here are some fast food options that won't completely wreck your diet.
Elon Musk doesn't seem to like Davos very much at all. Musk this week questioned how the World Economic Forum is 'even a thing' and compared it to 4Chan. He said in December he wouldn't be attending the annual meeting because it "sounded boring." Sign up for our newsletter for the latest tech news and scoops — delivered daily to your inbox. He further insulted the forum on Monday and compared it to online message board 4Chan, which is well known for spawning baseless conspiracy theories.
Davos 2023: The World Economic Forum explained
  + stars: | 2023-01-16 | by ( Siddharth K | ) www.reuters.com   time to read: +4 min
DAVOS, Switzerland, Jan 16 (Reuters) - The World Economic Forum (WEF) returns to its snowy winter residency in the Swiss Alps this week with a record attendance of business and government leaders. The WEF's roots stretch back to 1971 when its founder Klaus Schwab invited executives from European companies to the then tiny ski resort of Davos, high in the Swiss Alps. With climate change top of the agenda, chiefs of major energy companies are back after a COVID-related hiatus. Others include IMF Managing Director Kristalina Georgieva, European Central Bank chief Christine Lagarde, NATO General Secretary Jens Stoltenberg, President of the European Commission Ursula von der Leyen and Chinese Vice-Premier Liu He. Climate change topped the WEF's survey of global risk and energy company executives will mix with climate activists and environment ministers at the forum.
One fast-casual restaurant chain has remained a favorite on Wall Street even as the U.S. grapples with a potential looming recession. Over the past 15 months, the burrito chain has introduced three rounds of price increases that boosted the cost of its products 13% from a year earlier. In addition, many Wall Street analysts are forecasting a mild recession, which is better for fast-casual restaurants as the hope is consumers won't have to pull back very much or for very long. Potential for growth Another reason that Wall Street likes Chipotle is that it has solid potential for growth in the coming months and years, according to Zackfia. Overall, however, Wall Street sees fast-casual restaurants holding up to economic weakness.
DUBAI, Oct 25 (Reuters) - The chairman of Israel's Bank Leumi (LUMI.TA) is due to speak at Saudi Arabia's flagship investment conference in Riyadh on Thursday, in the latest sign of a potential thawing in relations between the two countries. In 2020, Riyadh's Gulf allies the United Arab Emirates and Bahrain signed historic U.S.-brokered deals to normalise relations with Israel. Organisers of the FII conference confirmed Bank Leumi chairman Samer Haj Yehia's planned attendance in response to a Reuters query. Bank Leumi, one of Israel's two largest banks, declined to comment. Haj Yehia is the first Arab Israeli to serve as the bank's chairman.
Gary Vaynerchuk warns people to make smarter spending decisions in a recent TikTok. He says that people are underestimating how scary the economy will be in as little as 3 months. "Start getting smart because it's hairy out there," Vaynerchuk warns. Gary Vaynerchuk is warning people to start making smarter spending choices now to prepare for a looming recession in the coming months. Vaynerchuk warns that unless you have massive amounts in savings, you need to get smarter about your spending.
But first, how did those bank earnings go? JPMorgan's Jamie Dimon. Before we kick things off, let's give a quick recap on the state of play with bank earnings. And for JPMorgan's Jamie Dimon, the message was largely one of confidence. The plans JPMorgan laid out in May around its tech spend were "pretty much on track," Dimon said.
Dimon said in June that he was preparing the bank for an economic "hurricane" caused by the Federal Reserve and Russia's war in Ukraine. Al Drago | Bloomberg | Getty ImagesJPMorgan Chase CEO Jamie Dimon said Monday that the U.S. should forge ahead in pumping more oil and gas to help alleviate the global energy crisis, likening the situation to a national security risk of war-level proportions. Speaking to CNBC, Dimon dubbed the crisis "pretty predictable" — occurring as it has from Europe's historic overdependence on Russian energy — and urged Western allies to support the U.S. in taking a lead role in international energy security. We should have gotten that right starting in March," he continued, referring to the onset of the energy crisis following Russia's invasion of Ukraine on Feb. 24. And while EU nations have hit targets to shore up gas supplies over the coming winter months, Dimon said leaders should now be looking ahead to future energy security concerns.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with JPMorgan's Jamie Dimon on recession, market turmoil, Twitter and moreJPMorgan CEO Jamie Dimon speaks to CNBC's Julianna Tatelbaum from the JPM Techstars conference in London.
Dimon said in June that he was preparing the bank for an economic "hurricane" caused by the Federal Reserve and Russia's war in Ukraine. JPMorgan Chase CEO Jamie Dimon on Monday warned that a "very, very serious" mix of headwinds was likely to tip both the U.S. and global economy into recession by the middle of next year. "These are very, very serious things which I think are likely to push the U.S. and the world — I mean, Europe is already in recession — and they're likely to put the U.S. in some kind of recession six to nine months from now," Dimon said. His comments come at a time of growing concern about the prospect of an economic recession as the Federal Reserve and other major central banks raise interest rates to combat soaring inflation. Speaking to CNBC last month, Chicago Federal Reserve President Charles Evans said he's feeling apprehensive about the U.S. central bank going too far, too fast in its bid to tackle high inflation rates.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJPMorgan's Jamie Dimon warns U.S. likely to tip into recession in 6 to 9 monthsJPMorgan Chase CEO Jamie Dimon on Monday warned that a "very, very serious" mix of headwinds was likely to tip both the U.S. and global economy into recession by the middle of next year.
It's a shift from this time last year, when junior bankers scored significant pay bumps, dealmaking reached record-breaking highs, and investment bankers prepared themselves for some of the chunkiest bonuses they'd ever received. Per this story from Bloomberg, however, the layoffs should not be as severe as what Wall Street experienced after market crashes in 1987 and 2008. For many, the return of staff cuts is kind of a return to normalcy. Fabrice Coffrini/AFP via Getty Images2. Credit Suisse is planning on splitting its investment bank into three parts, according to the Financial Times. The US Securities and Exchange Commission will let Wall Street keep payment-for-order flow, per Bloomberg.
JPMorgan Chase CEO Jamie Dimon said Biden's student-debt relief was "badly done." He told lawmakers he wished the relief had been further targeted to those who need it most. At the end of August, Biden announced up to $20,000 in student-loan forgiveness for federal borrowers making under $125,000 a year, and JPMorgan's Jamie Dimon told lawmakers he thought the policy was "badly done." "We basically put a Band-Aid on, spent a lot of money and didn't fix the problem which will now be ongoing," he added. Still, as Democrats and the Biden administration have noted, this one-time relief is only the first step toward addressing the problem.
The line-up includes the CEOs of the four largest U.S. banks: JPMorgan's Jamie Dimon, Bank of America's Brian Moynihan, Citi's Jane Fraser and Wells Fargo's Charles Scharf. They will be joined by USBancorp (USB.N) CEO Andy Cecere, PNC Financial (PNC.N) CEO William Demchak, and Truist Financial CEO William Rogers, who run the country's largest regional lenders. That's a message the banks' executives, lobbyists, and trade groups have conveyed during a marathon of private meetings with key lawmakers over the past few weeks, the sources said. But bank executives are also wary of growing criticism from Republicans, traditionally allies who have pushed back against heavy regulation, over what they see as Wall Street's increasingly liberal leanings on environment and social issues. While executives faced some critical questions from Republicans on such issues last year, the pressure will be greater this time, said analysts.
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