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“Tim Scott is all in on Iowa,” Scott's campaign manager Jennifer DeCasper said in an emailed statement. Scott has already held more than 40 campaign events in Iowa, and blanketed the airwaves since entering the race in May. The total is more than for any other combined presidential campaign and supporting super PAC. Scott's campaign has purchased more television and digital ads in the state than any other candidate through their individual campaign. Never Back Down, the super PAC supporting DeSantis, has spent the most on advertising of any entity in Iowa.
Persons: Carolina Sen, Tim Scott's, Scott, “ Tim Scott, , Jennifer DeCasper, Donald Trump, Ron DeSantis Organizations: DES, , Republican, Iowa, Christian, Florida Gov, PAC, Trust Locations: DES MOINES, Iowa, Carolina, New Hampshire, Des Moines, Florida
Senator Tim Scott, struggling to gain traction less than three months before the first Republican primary ballots are cast, came to the South Side of Chicago on Monday to rebuke the welfare state and the liberal politicians he dismissed as “drug dealers of despair.”The speech was at New Beginnings Church in the poor neighborhood of Woodlawn. It may have been delivered to Black Chicagoans, but the South Carolina senator’s broadsides — criticizing “the radical left,” the first Black female vice president, Kamala Harris, and “liberal elites” who want a “valueless, faithless, fatherless America where the government becomes God” — were aimed at an audience far away. That audience was Republican voters in the early primary and caucus states of Iowa, New Hampshire and South Carolina, and the donors who have peeled away from his campaign. His political persona as the “happy warrior” gave way to a chin-out antagonism toward the Black leaders who run the nation’s third-largest city, and the Democratic Party that “would rather lower the bar for people of color than raise the bar on their own leadership.”Speaking to a largely receptive audience in a church run by a charismatic Republican pastor, Mr. Scott added: “They say they want low-income Americans and people of color to rise, but their actions take us in the opposite direction. The actions say they want us to sit down, shut up and don’t forget to vote as long as we’re voting blue.”
Persons: Tim Scott, Black, Kamala Harris, , Scott Organizations: Republican, New Beginnings Church, Black, Democratic Party Locations: Chicago, Woodlawn, South Carolina, America, Iowa , New Hampshire
Michael Nagle | Bloomberg | Getty ImagesThe largest American banks have been quietly laying off workers all year — and some of the deepest cuts are yet to come. The moves come after a two-year hiring boom during the pandemic, fueled by a surge in Wall Street activity. "Banks are cutting costs where they can because things are really uncertain next year," Chris Marinac, research director at Janney Montgomery Scott, said in a phone interview. In the coming weeks, the bank will terminate around 1% or 2% of its employees, according to a person with knowledge of the plans. The bank has cut about 2% of its workforce this year amid a protracted slowdown in investment banking activity.
Persons: Michael Nagle, JPMorgan Chase, Chris Marinac, Janney Montgomery Scott, you'll, Goldman Sachs, Charlie Scharf's, Mike Santomassimo, Goldman, Headcount, GreenSky, we've, Morgan Stanley, James Gorman, Mark Mason, Jane Fraser's, Mason, Jamie Dimon Organizations: New York Stock Exchange, Bloomberg, Getty, JPMorgan, Federal Reserve, headcount, Bank of America, Citigroup, First, Big Locations: New York, Wells, Wells Fargo, York, First Republic
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPrial: The financial sector, and specifically the banks, looks especially cheap right nowNancy Prial, co-CEO of Essex Investment Management, discusses the major issues facing Bank of America and Goldman Sachs as they report earnings, and the state of the industry six months after the collapse of SVB and First Republic.
Persons: Nancy Prial, Goldman Sachs Organizations: Essex Investment Management, of America Locations: SVB, Republic
JPMorgan Chase Bank is seen in New York City, U.S., March 21, 2023. REUTERS/Caitlin Ochs/File Photo Acquire Licensing RightsOct 13 (Reuters) - JPMorgan Chase's (JPM.N) profit rose in the third quarter as surging rates and the acquisition of failed First Republic Bank drove its interest income to a record high, the largest U.S. lender reported on Friday. Shares of the bank rose 0.6% in premarket trading. It also hiked its 2023 NII forecast to $89 billion, excluding markets, compared with a prior forecast of $87 billion. The lender reported a profit of $13.15 billion, or $4.33 per share, for the three months ended Sept. 30.
Persons: Caitlin Ochs, JPMorgan Chase's, Jamie Dimon, Dimon, SoftBank Group's, Niket, Nupur Anand, Lananh Nguyen, Anil D'Silva Organizations: JPMorgan Chase Bank, REUTERS, JPMorgan, Bank, First Republic, Wall Street, Arm Holdings, Investment, Thomson Locations: New York City, U.S, Ukraine, Israel, Bengaluru, New York
JPMorgan CEO Jamie Dimon sounded the alarm on a series of risks looming over global markets. "This may be the most dangerous time the world has seen in decades," Jamie Dimon said in a JPMorgan earnings press release. Dimon also reiterated concerns of higher interest rates to come, having previously noted 7% levels as a real possibility. Added to that is growing US debt, which has drawn increasing criticism for its potential to worsen interest rates and eventually lead to fallout, if left unchecked. Despite Dimon's concerns, JPMorgan's reported strong third-quarter results, helped by higher interest rates and its acquisition of First Republic Bank earlier this year.
Persons: Jamie Dimon, Dimon, , JPMorgan's Organizations: Service, Bank, First Republic Bank Locations: Ukraine
REUTERS/Caitlin Ochs/File Photo Acquire Licensing RightsOct 13 (Reuters) - JPMorgan Chase (JPM.N) beat expectations for third-quarter profit on Friday as a tighter monetary policy and the acquisition of failed First Republic Bank drove its interest income to a record high. Shares of the bank rose 1.1% to $147.40 in premarket trading. Rivas, who previously ran the financial institutions group, was one of JPMorgan's lead negotiators in its purchase of First Republic. The lender's profit rose 35% to $13.15 billion, or $4.33 per share, for the three months ended Sept. 30. Excluding one-time costs, the bank reported a profit of $4.50 per share, above analysts' average estimate of $3.96 per share, according to LSEG IBES data.
Persons: Caitlin Ochs, JPMorgan Chase, Jamie Dimon, Dimon, NII, SoftBank Group's, Jeremy Barnum, Fernando Rivas, Rivas, JPMorgan's, Jay Horine, Wells Fargo, Niket, Nupur Anand, Lananh Nguyen, Anil D'Silva Organizations: JPMorgan Chase Bank, REUTERS, JPMorgan, Bank, First Republic, First, Federal, Arm Holdings, Investment, Reuters, Thomson Locations: New York City, U.S, Ukraine, Israel, First Republic, North America, Bengaluru, New York
Analysts expect a 0.4% year-over-year decline in third-quarter earnings for companies in the S&P 500 index, according to FactSet. Analysts expect America’s biggest bank to report earnings per share of $3.90 and revenue of $39.57 billion for the third quarter, according to Refinitiv. Citigroup, Wells Fargo and BlackRock also report earnings Friday. “Our children are in crisis, and it is up to us to save them,” Hochul said, comparing social media algorithms to cigarettes and alcohol. Those who opt out would receive chronological feeds instead, like in the early days of social media.
Persons: , Michael Arone, Jay Hatfield, ” Hatfield, Banks, JPMorgan Chase, Jamie Dimon, Dimon, Wells, Chris Isidore, Darren Woods, Read, Kathy Hochul, Letitia James, Michael Mulgrew, Sen, Andrew Gounardes, Nily, , ” Hochul, Athena Jones, Brian Fung Organizations: CNN Business, Bell, CNN, Investors, State Street Global Advisors, stoke, Infrastructure Capital Management, JPMorgan Chase, JPMorgan, First, Bank, Citigroup, ExxonMobil, Natural Resources, Midland Basins, New York Gov, New York, United Federation of Teachers Manhattan, New Locations: Wells Fargo, BlackRock, United States, Midland , Texas, Delaware, Midland, New York
Kate_sept2004 | E+ | Getty ImagesDespite economic uncertainty, it's still possible to build and preserve generational wealth, experts said Thursday at CNBC's Financial Advisor Summit. "But I think we'll still have an earnings recession," she said, pointing to rising costs of labor amid worker strikes. While rising interest rates have triggered stock market volatility, they have created competitive options for investors. Biggest threats to generational wealthWith some experts still predicting a recession, experts at the summit said it's also important to protect generational wealth. 1 cause of great loss of wealth is concentration," said Lagomasino, emphasizing the risk of having "a lot of eggs in one basket."
Persons: Mel Lagomasino, Lagomasino, it's, Rodney Williams, hasn't, Williams Organizations: CNBC's Financial, WE, Silicon Valley Bank, First Locations: New York City, Miami, Silicon
Just as they did during the March regional banking crisis, higher rates are expected to lead to a jump in losses on banks' bond portfolios and contribute to funding pressures as institutions are forced to pay higher rates for deposits. The issue constrains the bank's interest revenue and has made the lender the worst stock performer this year among the top six U.S. institutions. Expectations on the impact of higher rates on banks' balance sheets varied. Still, others including KBW and UBS analysts said that other factors could soften the capital hit from higher rates for most of the industry. There's also concern that higher interest rates will result in ballooning losses in commercial real estate and industrial loans.
Persons: Jamie Dimon, Marco Bello, Christopher McGratty, David Konrad, McGratty, Morgan Stanley, Betsy Graseck, Konrad, Gerard Cassidy Organizations: JPMorgan Chase &, Reuters, JPMorgan Chase, Citigroup, Bank, Silicon Valley Bank, First, Bank of America, Comerica, Fifth Third Bank, KeyBank, UBS, RBC Locations: Miami , Florida, U.S, Wells Fargo, Silicon, First Republic
Investors should stay away from bank stocks with more market turmoil on the cards, according to Steve Eisman. Eisman also said to avoid homebuilder stocks, which have been battered by rising interest rates. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAdvertisementSteer clear of bank stocks with the turmoil from earlier this year likely to rear its head again soon, Steve Eisman has warned. Eisman is best known for his big bets against the US housing market ahead of the 2008 financial crisis, as depicted in Michael Lewis' book "The Big Short".
Persons: Steve Eisman, Eisman, , Steer, CNBC's, Freddie Mac, Michael Lewis Organizations: Service, First Republic, Nasdaq, Federal Locations: Silicon Valley, homebuilding
Cooper Neill | Bloomberg | Getty ImagesThe stock sell-off that hit regional banks this year has exposed lenders including Zions and Comerica to the risk of being delisted from the Standard & Poor's 500 index. This year's regional banking crisis has already caused changes in the composition of the S&P 500, the most popular broad measure of large American companies in the investing world. Companies that no longer qualify as large-cap stocks are at heightened risk of demotion from the S&P 500. S&P guidelinesTo be considered for inclusion in the S&P 500, companies need to have a market capitalization of at least $14.5 billion and meet profitability and trading standards. The committee that decides the composition of the S&P 500 looks to minimize churn and accurately represent reference sectors, making changes only when "ongoing conditions warrant an index change," according to S&P.
Persons: Cooper Neill, Blackstone, Lincoln, Chris Marinac, Janney Montgomery Scott, Banks, Dow Jones Organizations: Comerica Inc . Bank, Bloomberg, Getty, Zions, Comerica, Lincoln National, Valley Bank, First, JPMorgan Chase, Investors, Newell Brands Locations: Dallas , Texas, First Republic, ZIons
CNN —In the wake of Hamas’ deadly attacks on Israel, former President Donald Trump is turning to a strategy he employed during the 2016 campaign of using terror abroad – and fears of future attacks on American soil – to push for hard-line immigration policies in the United States. The former president’s rhetoric harks back to his 2016 presidential campaign and his first term in office, when he used fears over terror attacks stateside to block immigrants and refugees from predominantly Muslim countries. “We have leadership who doesn’t know what they’re doing,” Trump said after those attacks. But a few candidates have joined Trump in drawing parallels between the attacks in Israel and safety in the US. Biotech entrepreneur Vivek Ramaswamy has also sought to tie Israel’s war with Hamas to US-Mexico border policy.
Persons: Donald Trump, Trump, , Obama, Barack Obama, , ” Trump, Joe Biden, Ron DeSantis, Vivek Ramaswamy, ” Ramaswamy, Biden, Nikki Haley, Antony Blinken, South Carolina Sen, Tim Scott, Janet Yellen, DeSantis Organizations: CNN, ISIS, Hamas, US, Republican, Central America, Trump, Florida Gov, Pocahontas , Iowa . Biotech, ” Former South Carolina Gov, South, Banking Locations: Israel, United States, Wolfeboro , New Hampshire, Gaza, San Bernardino , California, Paris, Iraq, Iran, Libya, Somalia, Sudan, Syria, Yemen, Palestinian, Central, Pocahontas , Iowa, US, Mexico, Manchester , New Hampshire, , South Carolina, Qatar
Bitcoin and gold are "critical hedges" against the potential for monetary policy that reduces the value of currency, as well as the return of inflation, Jefferies says. Wood emphasized that investments in both bitcoin and gold should be viewed by investors as insurance rather than short-term trades. Jefferies recommends a 10% allocation to bitcoin for U.S. dollar-based long-term global investors, such as pension funds. Alongside physical gold and unhedged gold mining stocks and Asia equities, Jefferies has added bitcoin to this global portfolio in the past couple of years. This year, the firm introduced a global long-only equity portfolio that includes a 3% weighing in the Grayscale Bitcoin Trust (GBTC) .
Persons: Jefferies, Christopher Wood, Wood, bitcoin, — CNBC's Michael Bloom Organizations: Federal Reserve, Jefferies, U.S, Signature Bank, Silicon Valley Bank, First Republic Bank Locations: U.S, bitcoin, Asia
Metro Bank: Shares in UK bank just plunged over 30%
  + stars: | 2023-10-05 | by ( Anna Cooban | ) edition.cnn.com   time to read: +4 min
London CNN —Shares in UK lender Metro Bank sank as much as 31% Thursday following a report that it was urgently seeking to raise funds to shore up its finances. Metro Bank opened in 2010 as the first challenger to Britain’s major main street banks — including Lloyds (LYG), Barclays (BCS) and HSBC (HSBC) — in more than 100 years. Metro Bank’s assurances did little to support its share price, which pared some of its earlier losses but was down by 31% again by late afternoon in London. The bank’s shares are down almost 66% since mid-September when UK regulators refused its request to change the way it calculates capital requirements on its residential mortgages book. A Metro Bank branch in the UK city of Sheffield, seen in April Mike Egerton/APThe ratings agency noted that Metro Bank had to refinance a £350 million ($425 million) bond by October 2024.
Persons: , Fitch, ” Fitch, Mike Egerton, Chris Beauchamp, isn’t, , — Hanna Ziady Organizations: London CNN —, Metro Bank, Financial Times, Lloyds, Barclays, BCS, HSBC, , Metro, Bank, UK Financial, Prudential Regulation Authority, Bank of England, IG, CNN, Financial, Metro Bank . CNN, Prudential, Banking Supervision, Valley Bank, Signature Bank, First Republic Bank, Credit Suisse — Locations: , London, Sheffield, United States, United Kingdom, Basel
At the center of the storm is the 10-year Treasury yield , one of the most influential numbers in finance. The relentless rise in borrowing costs has blown past forecasters' predictions and has Wall Street casting about for explanations. Companies that can only issue debt in the high-yield market, which includes many retail employers, will confront sharply higher borrowing costs. Higher rates squeeze the housing industry and push commercial real estate closer to default. "So if banks haven't fixed their issues since then, the problem is only worse, because rates are only higher."
Persons: Jerome Powell, SAUL LOEB, Bob Michele, Ben Emons, Treasurys, Benjamin Dunn, Lindsay Rosner, Peter Boockvar, Rosner Organizations: Federal Reserve, Washington , D.C, Getty, ., Treasury, Fed, JPMorgan, NewEdge, Bloomberg, Alpha Theory Advisors, Goldman, Companies, Bleakley Financial, Valley Bank, First Locations: Washington ,, U.S, Goldman Sachs, First Republic
WASHINGTON, Oct 4 (Reuters) - Bolstered by an infusion of new cash, Republican candidate Ron DeSantis’ presidential bid is diverting more resources to Iowa, including relocating key members of his team there, his campaign said on Wednesday. The moves reflect the crucial role Iowa, the state with the first Republican nominating contest on Jan. 15, plays for DeSantis. The Florida governor's campaign has essentially made it a win-or-bust state because he badly trails Republican frontrunner Donald Trump in opinion polls in Iowa and elsewhere. The DeSantis campaign on Wednesday reported raising $15 million during the third quarter, although not all of those funds will be available for use during the Republican primary. His campaign is planning to relocate about one-third of its staff, including aides who handle strategy and communications, to Iowa for the stretch run before the contest, the campaign said.
Persons: Ron DeSantis ’, Donald Trump, Ron DeSantis, James Uthmeier, Ted Cruz, Rick Santorum, DeSantis, Trump, James Oliphant, Ross Colvin, Grant McCool Organizations: DeSantis, Republican, The New York Times, Iowa, Thomson Locations: Iowa, Florida, DeSantis, U.S
CNN —Following Kevin McCarthy’s historic ouster as House speaker, names have started to emerge as possible successors to take over the gavel. Jordan replied “yes,” when asked if he is running for speaker and said he had just talked to House Majority Leader Steve Scalise, the No. Anna Moneymaker/Getty Images/FILELouisiana Rep. Steve Scalise, who serves as House majority leader, announced on Wednesday his intention to succeed McCarthy. As he exited a GOP meeting, he told reporters, “Steve Scalise has been a friend for a long time. Kevin HernRep. Kevin Hern leaves a meeting of the House Republican Conference at the Capitol Hill Club on Wednesday, July 26, 2023.
Persons: Kevin McCarthy’s, McCarthy, Tuesday’s, Jim Jordan Rep, Jim Jordan, Anna Moneymaker, Jim Jordan of Ohio, Jordan, , Steve Scalise, Fani Willis, Attorney Alvin Bragg, Trump, Hunter Biden, ” Scalise, Scalise, , David Duke, Tom Emmer, Tom Williams, Emmer, “ Steve Scalise, Kevin Hern, ”, I’ve, ” Hern, Hern Organizations: CNN, GOP, Republican, Committee, Manhattan, Attorney, Justice Department, Freedom Caucus, Building, Congress, Ku Klux, House Republican Conference, Capitol, Minnesota Republican, Louisiana Rep, Minnesota, Financial Services, Capitol Hill Club, Oklahoma Republican, Caucus, McDonalds, Small Business Locations: Washington , DC, Benghazi, Trump, Fulton County, Louisiana, Alexandria , Virginia, New Orleans ’, Minnesota, Texas
The same man who has relentlessly attacked his political and legal enemies on the campaign trail, in the White House and on social media – often using violent and incendiary rhetoric – is now showing up at the courthouse. But unlike with his campaign rhetoric, Trump has faced consequences in the legal world for his verbal attacks. This week’s court appearances underscored the reality that Trump’s rhetoric will be the same whether he’s outside a courthouse or on the stage of a campaign rally. And he attacked the judge’s clerk as a “disgrace,” even before his social media post about her. And he said he would return to testify as a witness “at the appropriate time.”Trump’s incendiary rhetoric is nothing new.
Persons: Donald Trump, Trump, Letitia James, Judge Arthur Engoron, Engoron, ” Engoron, , Jack Smith –, , ” Trump, James, he’s, , George Floyd, Mark Milley –, “ I’ll Organizations: CNN, White, New York, GOP, Trump, New, White House, Democrat, Republican, Capitol, Joint Chiefs, Locations: Manhattan, New York, Washington, DC, Florida, Georgia, New York City, South Carolina
DES MOINES, Iowa (AP) — Former President Donald Trump heads to southeast Iowa Sunday in the middle of a fall campaign push aimed at locking in supporters with large organizing events. As he has with his other recent travels to the leadoff caucus state, Trump will campaign in an area that formerly supported Democrats but has embraced him. Trump was planning to headline an afternoon event in Ottumwa, where his campaign was expecting more than 1,000 potential supporters. The small city is a hub in eastern Iowa and the seat of Wapello County, one of 31 counties Trump carried in 2016 that Democrat Barack Obama had won four years earlier. Trump, the first Republican to capture the county since the Eisenhower administration, campaigned the week before in northeast Iowa.
Persons: Donald Trump, Trump, Barack Obama, Eisenhower, Democrat Joe Biden, Trump’s, Obama, Jonathan J, Cooper Organizations: DES, Trump, Republican, Democratic, Democrat, sparred, Associated Press Locations: DES MOINES, Iowa, Ottumwa, Wapello County, Jackson County, Mississippi, Dubuque County, Wapello, U.S, Canada, Mexico, California, Orange County, Southern California, Michigan, Macomb County , Michigan, Detroit, Macomb County, Anaheim , California
The meeting is the third time that Banking Committee Chair Sherrod Brown , D-Ohio, will hold an oversight hearing with the heads of the nation's biggest banks. Eight CEOs of the largest U.S. banks will face questioning at a Senate Banking Committee hearing in December, according to an announcement obtained by CNBC . "Part of that commitment is to hear directly from the biggest banks that hold too much power in the economy," he said. Brown and other Banking Committee members have ramped up oversight efforts in 2023, particularly regarding three banks that failed earlier in the year, Silicon Valley Bank, Signature Bank and First Republic. The failure of First Republic in May was the biggest bank failure in the United States since the 2008 financial crisis.
Persons: Sherrod Brown, Janet Yellen, Powell, Brown, Chuck Schumer Organizations: Federal, Banking, Housing, Urban Affairs, CNBC, Silicon Valley Bank, Signature Bank, First, Republic, JPMorgan, Federal Deposit Insurance Corp Locations: Hart, Washington , DC, Ohio, First Republic, United States
In a tight election, amid questionable economic conditions and with the normality that Biden promised in 2020 still fleeting, the threat may be greater than ever. A pseudo general election campaignBoth Trump and Biden showed up in Michigan courting blue-collar votes this week. He returned to the theme that democracy is under attack – seemingly a slam dunk given Trump’s week of autocratic outbursts and demagoguery. And all previous evidence suggests that, among GOP voters at least, Trump legal travails only boost his poll numbers and fundraising. To anyone who has forgotten the constant tearing at legal, political and constitutional norms that characterized almost every day of the last presidency, Gaetz and his fellow MAGA troops are proving that Trumpism sows chaos.
Persons: Joe Biden, Donald Trump, America’s, Biden, ” Trump, Trump, Democratic handwringing, , ” Biden, , Mark Milley, he’d, , Chris Christie’s, Donald Duck, Mike Pence’s, South Carolina Sen, Tim Scott, Nikki Haley, Ronald Reagan, it’s, Ron DeSantis, Arthur Engoron, he’s, James Comer of, Jim Jordan, hasn’t, Hunter’s, Matt Gaetz, Gaetz, MAGA, Kevin McCarthy Organizations: CNN, Republican, GOP, Trump, White, Democratic, Joint Chiefs of Staff, MSNBC, New, New Jersey Gov, South Carolina Gov, United Nations, Ronald Reagan Presidential, Communicator’s Air Force, Florida Gov, Oval, Republicans Locations: California, America, Michigan, West, Arizona, Detroit, New Jersey, South Carolina, New York, Iowa, New Hampshire, Florida, Miami, Washington, Ohio
Chandan Khanna | Afp | Getty ImagesGeorgia's Republican Senate Caucus is suspending a GOP state senator who attacked them for opposing his plan to impeach Fulton County District Attorney Fani Willis for indicting former President Donald Trump. The caucus announced Thursday that it was indefinitely suspending state Sen. Colton Moore of Trenton, who represents a district in Georgia's northwest corner. Brian Kemp and many elected Republicans, on the one hand, and grassroots Trump backers who have captured control of Georgia's Republican Party organization. Willis has charged Trump and 18 others, including the former state Republican Party chair, with crimes related to the effort. After Republican state Sens.
Persons: Chandan Khanna, Fani Willis, Donald Trump, Sen, Colton Moore, Moore, Georgia RINOs, I'm, Brian Kemp, Kemp, Willis, Trump, Bo Hatchett, Shelly Echols Organizations: Atlanta Young Republicans, Republican, Afp, Getty, Caucus, GOP, Fulton, Georgia Senate's, Republicans, Trump, Gov, Republican Party Locations: Atlanta , Georgia, Fulton County, Trenton, Georgia's, Georgia, Sens
Senator Tim Scott (R-SC) speaks as former South Carolina Governor Nikki Haley and North Dakota Governor Doug Burgum listen at the first Republican candidates' debate of the 2024 U.S. presidential campaign in Milwaukee, Wisconsin, U.S. August 23, 2023. Haley, U.N. ambassador in Trump's administration, said the curtains had been bought during the previous Obama administration, and told Scott to "do your homework." before the exchange devolved into cacophony with the two candidates, joined by Florida Governor Ron DeSantis, talking over one another. The New York Times in 2018 reported that $52,701 had been spent for "customized and mechanized curtains" for the residence. The article said plans to buy the curtains were made in 2016, before Trump took office.
Persons: Tim Scott, Nikki Haley, Doug Burgum, Brian Snyder, Donald Trump, Tim Scott of, Haley, U.N, Obama, Scott, Ron DeSantis, Trump, Chris Christie, Joe Biden, Jill Biden, Trump's, Mike Pence, Karen Pence, Alex Bruesewitz, DeSantis, Christie, Alexandra Ulmer, Ross Colvin, Howard Goller Organizations: South Carolina, North Dakota, Republican, REUTERS, White, United Nations, Florida, New York Times, New, Democratic, Trump Locations: Milwaukee , Wisconsin, U.S, Tim Scott of South Carolina, New York, cacophony, New Jersey
The March implosion of Silicon Valley Bank created a banking vacuum in the startup world. In 2019, the group poached four executives from SVB to work with venture capital funds and their portfolio companies. But these plans were accelerated by the collapse as customers fled to JPMorgan from SVB as well as First Republic, which JPMorgan now owns. First Republic also served emerging venture capital firms, an untapped client segment for JPMorgan's commercial bank. In some aspects, the breakdown of SVB strengthened JPMorgan's appeal to tech upstarts that had previously eschewed too-big-to-fail banks, Smith said.
Persons: John China, Melissa Smith, Smith, playbook, Jamie Dimon, SVB, Darya, fintech Organizations: Valley Bank, JPMorgan, SVB, West Coast, Bay Area, Silicon Valley Bank, Capital, fintech Aumni, Capital Connect Locations: Beijing, Frankfurt, London, Stockholm, Sydney, Tel Aviv, Zurich, San Francisco, New York, Silicon Valley, West, SVB, Republic, Israel, fundraises
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