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☆ UK's Sunak hails $37 billion investments before FDI summit
▼ + stars: | 2023-11-26 | by ( Alistair Smout | ) www.reuters.com time to read: +4 min

Australian funds IFM Investors and Aware Super will pump 10 billion pounds and 5 billion pounds, respectively, into projects ranging from infrastructure and energy transition to affordable housing, Sunak's Downing Street office said in a statement. Spanish power giant Iberdrola (IBE.MC) will add 7 billion pounds to its investment plans in Britain, which include transmission and distribution electricity networks, it said. France last year overtook Britain as the European country with the highest number of new FDI projects. French President Emmanuel Macron announced 13 billion euros ($14.18 billion)of investment commitments in his country at a similar FDI gathering in May. It wants to deal with one person," investment minister Dominic Johnson told Reuters ahead of Monday's event at Hampton Court.

Persons: Rishi Sunak, Ian Forsyth, Sunak's, Sunak, Emmanuel Macron, Stephen Schwarzman, David Solomon, Goldman Sachs, Jamie Dimon, JP Morgan Chase, Dominic Johnson, Jeremy Hunt, IFM, William Schomberg, Alistair Smout, Louise Heavens Organizations: Britain's, Nissan, IFM, Microsoft, Britain, Blackstone, Hampton Court, Thomson Locations: Sunderland, Britain, Spanish, Hampton, London, France, Germany, England, British

☆ Top donors increasingly believe Nikki Haley can topple Trump in the GOP presidential primaries and they're telling others to open up their checkbooks
▼ + stars: | 2023-11-25 | by ( John L. Dorman | ) www.businessinsider.com time to read: +4 min

As Nikki Haley has risen in polls, so has her viability among top political donors, per The Times. Some donors are describing Haley's candidacy as one that's creating enthusiasm among party leaders. GOP donor Eric Levine told The Times that Trump's air of inevitability has "peeled away completely." I would certainly like her over Trump," Langone, who's donated to Haley's campaign, told the newspaper. "His aura of invincibility is just peeled away completely," Levine said, pointing to Haley's polling surge among GOP voters.

Persons: Nikki Haley, Eric Levine, —, Donald Trump, Trump, Haley, Jamie Dimon —, Joe Biden's, Dimon, Kenneth G, who's, Ron DeSantis, Jonathan Bush, Bush, George W, Gary Johnson's, Sen, Tim Scott's, Levine Organizations: Times, Service, The New York Times, JPMorgan Chase, The Times, South, Trump, White House, Depot, GOP, Florida Gov, New, New Mexico Gov, — Locations: Iowa, South Carolina, New Mexico

☆ Bill Gates says a 3-day work week where 'machines can make all the food and stuff' isn't a bad idea
▼ + stars: | 2023-11-22 | by ( Jordan Hart | ) www.businessinsider.com time to read: +2 min

Gates says that a 3-day work week is "probably OK."The billionaire has previously acknowledged the risks of AI being misused. AdvertisementTechnology may not replace humans, but it could make a 3-day work week possible — at least, that's what Bill Gates thinks. "If you eventually get a society where you only have to work three days a week, that's probably OK," Gates said. There could exist a world where "machines can make all the food and the stuff," and people don't have to work a five day-plus work week to earn a living wage. Companies in the US and abroad have been testing the effectiveness of a four-day work week.

Persons: Bill Gates, Gates, —, Trevor Noah, Noah, that's, Jamie Dimon, Dimon Organizations: Service, Employers, JPMorgan, Bloomberg, Microsoft, Companies

☆ Sam Altman inspired a mass defection at OpenAI — something Steve Jobs never did at Apple
▼ + stars: | 2023-11-21 | by ( Tim Paradis | ) www.businessinsider.com time to read: +4 min

Sam Altman's ouster has been so unpopular that most OpenAI workers have threatened to quit. The chaotic ouster of Sam Altman from OpenAI offers lessons around corporate stewardship and about seizing opportunity . It's a remarkable and uncommon show of support for a top dog at a company, leadership experts told Business Insider. Young, leadership expert and author of "Kissinger's Betrayal: How America Lost the Vietnam War" told BI. "Emotions and personalities play a much greater role in the small company," he said.

Persons: Sam Altman's, —, didn't, Sam Altman, It's, Satya Nadella, Altman, Jamie Dimon, Warren, Jeff Bezos, Jerry McGuire, Jeffrey Sonnenfeld, Sonnenfeld, who's, Steve Jobs, it's, Ken Frazier, Merck, Indra Nooyi, Marc Benioff, Benioff, Stephen B . Young, Young Organizations: Service, OpenAI, JPMorgan, Yale School of Management, Yale's, Leadership, Apple, PepsiCo Locations: Salesforce, Vietnam

☆ Wall Street banks want AI to write performance reviews
▼ + stars: | 2023-11-20 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +3 min

Wall Street banks are turning to AI to streamline processes like writing performance reviews. Software firm Workday said it's seen an uptick in banks expressing interest in its new AI products. AdvertisementWall Street banks are looking to speed up operations and cut costs by deploying AI to write performance reviews among other tasks, a Workday boss said in an interview with Bloomberg at its conference in Barcelona. Workday's co-CEO Carl Eschenbach said Wall Street banks are keen to get their hands on some of its new AI products. A number of Wall Street banks are optimistic about how AI will improve productivity since the launch of OpenAI's chatbot ChatGPT in November 2022.

Persons: —, Workday's, Carl Eschenbach, Eschenbach, ChatGPT, Jamie Dimon Organizations: Deutsche Bank, Service, Bloomberg Locations: Barcelona

☆ The dream economic scenario might be back on the table, as inflation cools and growth surges
▼ + stars: | 2023-11-15 | by ( George Glover | ) www.businessinsider.com time to read: +5 min

It's a sign the dream economic scenario – where the Fed reins in inflation without crushing growth or driving up unemployment – is still on the table. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . After a difficult few months, there are signs the central bank's dream economic scenario is back on the table once again. The dream economic scenarioSome big-name investors sounded cautious in their responses to the latest data, warning that inflation may prove stickier than expected. Some might call this a "Goldilocks" scenario – where inflation, growth, and the job market all look "just right".

Persons: Stocks, —, PIMCO, Paul McCulley, Jamie Dimon, Ken Griffin, Matt Turner, Taylor, it's Organizations: Service, Bank of America, Federal Reserve, Reuters, Nasdaq, JPMorgan, Citadel, optimist, country's Locations: –

☆ JPMorgan boss Jamie Dimon warns it's too early for a Fed victory lap, as inflation 'may not go away that quickly'
▼ + stars: | 2023-11-15 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

Markets are probably overreacting to the October inflation data, according to Jamie Dimon. The JPMorgan CEO told Bloomberg that he's "afraid inflation may not go away that quickly". AdvertisementThe Federal Reserve shouldn't call time on its inflation fight just yet, according to Jamie Dimon. "I'm afraid inflation may not go away that quickly," Dimon added. AdvertisementThe JPMorgan boss isn't the only big name on Wall Street telling markets not to put too much stock in Tuesday's CPI print.

Persons: Jamie Dimon, —, Stocks, Dimon, El Financiero, that's, Dimon –, they've, isn't, Ken Griffin Organizations: JPMorgan, Bloomberg, Service, JPMorgan Chase, El Financiero Bloomberg, CPI, Billionaire Citadel

Federal rules require banks to reimburse customers for payments made without their authorization, such as by hackers, but not when customers themselves make the transfer. Following its launch in 2017, Zelle grew to become one of the largest U.S. peer-to-peer payments networks by total payments. A March 2022 New York Times report that scams were flourishing on Zelle caught the attention of lawmakers frequently critical of big banks, including Senator Elizabeth Warren. He said Zelle has seen "a step-change reduction" in fraud and scam rates this year but declined to provide details. Chance said EWS has been engaging with policymakers on the need for a "holistic approach" to combating scams, including advocating for more dedicated law enforcement resources.

Persons: Jamie Dimon, Jane Fraser, Brian Moynihan, Banks, Ben Chance, Zelle, Elizabeth Warren, Warren, Dimon, EWS, Chance, ”, Trace, Carla Sanchez, Adams, we're, Lindsey Johnson, Hannah Lang, Chris Prentice, Michelle Price, Rod Nickel Organizations: JPMorgan Chase, Citigroup, Bank of America, Banking, Housing, Urban Affairs, Capitol, Warning, Reuters, Federal, JPMorgan, New York Times, Federal Trade Commission, Consumer Financial Protection Bureau, PayPal, National Consumer Law, Consumer Bankers Association, Thomson Locations: Zelle, U.S, Warren, Washington, New York

☆ I Tried Some Intense CEO Morning Routines So You Don’t Have To
▼ + stars: | 2023-11-13 | by ( Ray A. Smith | ) www.wsj.com time to read: 1 min

For years, chief executives have told me the energy, drive and creativity they get from their morning is what drives them. So I decided to take on the challenge of a lifetime: Try a CEO’s morning routine for one day. On a Tuesday, I was JPMorgan’s Jamie Dimon and up before dawn reading five newspapers, research reports and getting in a workout. On a Wednesday, call me Nasdaq Chief Executive Adena Friedman. And on a Thursday, I stepped into Hollywood executive Nathan Brown’s shoes.

Persons: Jamie Dimon, Adena Friedman, Nathan Brown’s Organizations: Nasdaq, Hollywood

☆ Watch Fed Chair Jerome Powell speak live to an IMF panel on monetary policy
▼ + stars: | 2023-11-09 | by ( Jeff Cox | ) www.cnbc.com time to read: +1 min

Please refresh the page if you do not see a player above at that time.] Federal Reserve Chair Jerome Powell speaks Thursday to a monetary policy panel presented by the International Monetary Fund. The U.S. central bank leader's remarks follow a Fed decision last week to hold benchmark policy rates at their current level, in a target range between 5.25%-5.5%. However, Powell has cautioned that should inflation persist, he won't hesitate to push for higher rates. In fact, markets expect the Fed to start cutting in 2024, possibly as soon as June.

Persons: Jerome Powell, Powell, Read, Jamie Dimon Organizations: International Monetary Fund, The, Federal, CME, CNBC, YouTube Locations: The U.S, U.S

The entrance to JPMorgan Chase's international headquarters on Park Avenue is seen in New York October 2, 2012. It is the bank's third-biggest city in the European Union in terms of staff with 900 people, coming after Warsaw (1,200) and Dublin (more than 1,000). In the wake of Britain's exit from the European Union, JPMorgan bought a seven-storey building near its historic headquarters in the first arrondissement to house more employees. JPMorgan will commit $50 million of the $60 million investment and Bpifrance will provide 10 million euros ($10.66 million). The aim is to raise between 150 million euros to 200 million euros by the end of 2024, the U.S. lender said.

Persons: Shannon Stapleton, Bpifrance, Cartier, Louis Vuitton, JP Morgan, Jamie Dimon, Mathieu Rosemain, Anousha Sakoui, Louise Heavens Organizations: JPMorgan Chase's, REUTERS, Rights, JPMorgan, U.S, European Union, Gardens, Justice, Ritz Paris Hotel, Spark, JPMorgan Asset Management, Thomson Locations: New York, France, London, Paris, Europe, Warsaw, Dublin, U.S, Vendome, Spark France

☆ Ranking the biggest winners, and losers, in the current economy
▼ + stars: | 2023-11-08 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . In today's big story, we're ranking how different generations are doing in the current economy. After watching their parents and predecessors (millennials) struggle with finances, Gen Z is taking matters into their own hands. A May survey found more than half of Gen Z respondents had already started investing.

Persons: —, Tom Brady, Brooks Kraft, who's, It's, They've, Gen Zers, Gen Z, Gen, they've, Zers, HENRY, There's, aren't, Jamie Dimon, Dimon, Banks, Goldman Sachs, Joel Saget, Loren Elliott, Andreessen Horowitz, Elon, Barack Obama's, Allen Berezovsky, Getty, Roberto Machado Noa, Rowan Jordan, Tyler Le, Bob Iger's, it's, that's, Scooter Braun's, Camila Sterling, David Bolno, Sterling, Vivek Ramaswamy, Nikki Haley, Chris Christie, Will Smith, LL, Queen Latifah, Remy Ma, Chris Sattlberger, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, Brooks Kraft LLC, Alpha, Beta, Getty, JPMorgan, Treasury, MDs, AFP, Getty Images Google, Microsoft, Google, US, Disney, Republican, NBC News, CBS, Walt Disney Company, Bayer, Airbus Locations: Ukraine, California, Florida, New York City, San Diego, London, New York

☆ Jamie Dimon warns conflict in the Middle East could trigger the most serious global crisis since World War II
▼ + stars: | 2023-11-07 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

Wars in Ukraine and the Middle East have pushed the world to the brink of a grave crisis, Jamie Dimon said. "Geopolitical matters are very serious – arguably the most serious since 1938," he told the Sunday Times. AdvertisementAdvertisementConflicts in Europe and the Middle East risk triggering the most serious global crisis since the Second World War, Jamie Dimon has warned. AdvertisementAdvertisementFinancial markets have largely shrugged off the conflict in the Middle East, one month after Hamas' strike on Israel. This isn't the first time the JPMorgan boss has warned the conflict in the Middle East is a threat to the world economy.

Persons: Jamie Dimon, —, Dimon Organizations: Sunday Times, JPMorgan, Service, JPMorgan Chase, Hamas, Federal, West Texas Locations: Ukraine, Europe, Nazi Germany, Czechoslovakia, Israel, Brent, Iran

☆ Sam Bankman-Fried was just convicted. Where does crypto go from here?
▼ + stars: | 2023-11-03 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

In today's big story, we're looking at Sam Bankman-Fried's conviction and what it means for the future of crypto. Sam Bankman-Fried, the crypto industry's most recognizable face (and head of hair), was found guilty of seven counts of fraud and conspiracy on Thursday night. Charges against Bankman-Fried included wire fraud, conspiracy to commit wire fraud, conspiracy to commit securities fraud, conspiracy to commit commodities fraud, and conspiracy to commit money laundering. The conviction came, perhaps fittingly, on the first anniversary of the CoinDesk scoop that sent FTX, the crypto exchange Bankman-Fried co-founded and led, into a tailspin. The downfall was swift, with Bankman-Fried resigning as CEO and FTX collapsing just over a week after the initial report.

Persons: —, Katie Notopoulos —, Linda Yaccarino, Sam Bankman, Chelsea Jia Feng Down, Crypto, SBF, FTX, Fried, Katie Balevic, Jacob Shamsian, Katie, Chelsea Jia Feng, Miami —, That's, Brian Snyder Jamie Dimon, Jeff Gundlach, Gundlach, Mike Blake, Jack Dorsey, Samantha Lee, Janet Yallen, Sheryl Crow, Missy Elliott, isn't, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, Bankman, Alameda Research, Wall, BlackRock, PayPal, JPMorgan, Microsoft, Tech, Financial, Labor Statistics, Hall, Today Locations: FTX's, New York City, San Diego, London, New York

☆ Why Jamie Dimon Changed His Mind on Europe
▼ + stars: | 2023-11-02 | by ( Josh Mitchell | David Benoit | ) www.wsj.com time to read: 1 min

When JPMorgan Chase bought First Republic Bank in May, all eyes were on its CEO, Jamie Dimon. Here’s how the executive’s strategy for managing risk propelled him to the top of the banking world. Photo illustration: John McColganLONDON—Not long ago, JPMorgan Chase Chief Executive Jamie Dimon insisted the Wall Street giant would never get into retail banking in Europe. Now, he’s all in.

Persons: JPMorgan Chase, Jamie Dimon, John McColgan Organizations: JPMorgan, First Republic Bank, JPMorgan Chase Locations: Europe

☆ JPMorgan CEO Jamie Dimon says he suspects the Fed isn't done with interest-rate hikes, just hours after Powell hit pause again
▼ + stars: | 2023-11-02 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

JPMorgan Chase CEO Jamie Dimon suspects the Fed may not be done hiking rates, per Yahoo. On Wednesday, the Fed said it would hold federal funds at rates steady in the 5.25% to 5.5% range. Dimon said the Fed may still hike rates by 0.25 percentage point to 0.75 percentage point. "I think they're right to pause here and see what happens," Dimon told Yahoo Finance Live just hours after the central bank's decision. On Wednesday, the Fed said it would hold the federal funds rate steady in the 5.25% to 5.5% range.

Persons: Jamie Dimon, Dimon, —, JPMorgan Chase Organizations: JPMorgan, Yahoo, Service, Federal Reserve, Yahoo Finance, Fed

☆ The 'biggest threat to global order since the 1930s' is underway and every CEO is talking about it
▼ + stars: | 2023-11-02 | by ( Deborah Kong | ) www.cnbc.com time to read: +3 min

That's according to Frederick Kempe, CEO of foreign policy think tank Atlantic Council, and it is a fear he says more CEOs of major corporations are focused on today. JPMorgan CEO Jamie Dimon recently warned, “This may be the most dangerous time the world has seen in decades.”According to Kempe, that's a feeling shared in many corporate boardrooms. The last three major inflection points in history were World War I, World War II, and the Cold War, and now the tensions and risks are higher than ever. Kempe believes it's up to the United States to ensure the global system stays intact. He cited how the choices made by the U.S. after World War I led to isolationism, the Holocaust, and millions of deaths, while the nation "got it right" after World War II, resulting in international institutions like the United Nations and NATO.

Persons: Frederick Kempe, Jamie Dimon, Kempe, that's, it's Organizations: Al, Atlantic Council, JPMorgan, CNBC, U.S, United Nations, NATO Locations: Al Bureij, Gaza City, Gaza, United States, Israel, Ukraine, Afghanistan, Russia, U.S

☆ JPMorgan's Dimon warns the Fed's inflation war will spook markets - and flags a raft of threats to the US economy
▼ + stars: | 2023-11-02 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Jamie Dimon expects the Federal Reserve's war on inflation to shake markets at some point. Dimon warns overseas conflicts are a key concern and could hit the American economy. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementAdvertisementInvestors should prepare for turmoil as the Federal Reserve forges ahead in fighting inflation, Jamie Dimon says. "It'll have an effect on the economy, and it may determine whether the economy goes to hard landing or soft landing," Dimon said.

Persons: Jamie Dimon, Dimon, —, there's hasn't, Warren Buffett Organizations: Service, Federal Reserve, JPMorgan, Yahoo Finance, Reserve, First Republic Locations: Ukraine, Israel, Europe, China

☆ Risk of a Wider Middle East War Threatens a ‘Fragile’ World Economy
▼ + stars: | 2023-11-01 | by ( Patricia Cohen | More About Patricia Cohen | ) www.nytimes.com time to read: +2 min

“We are in one of the most fragile junctures for the world economy.”Mr. Gill’s assessment echoes those of other analysts. Tensions between the United States and China over technology transfers and security only complicate efforts to work together on other problems like climate change, debt relief or violent regional conflicts. If the conflict stays contained, though, the ripple effects on the world economy are likely to remain limited, most analysts agree. At the moment, the United States is the world’s largest oil producer, and alternative and renewable energy sources make up a bit more of the world’s energy mix. “It’s a highly volatile, uncertain, scary situation,” said Jason Bordoff, director of the Center on Global Energy Policy at Columbia University.

Persons: ” Mr, Gill, Mr, Jamie Dimon, JPMorgan Chase, Jerome H, Powell, ”, Jason Bordoff, Bordoff Organizations: JPMorgan, Hamas, Federal Reserve, Center, Global Energy, Columbia University Locations: Gaza, United States, China, Israel, Egypt, Syria, U.S, Europe, Iran, Persian

☆ Premarket stocks: It’s a spooky Halloween for markets. Here’s why
▼ + stars: | 2023-10-31 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +10 min

Here’s what’s causing the market fears:High bond yieldsSurging yields have contributed to one of the worst periods for bond market performance in history and pressured equity markets. The company reported quarterly profits of $9.9 billion, also beating estimates. Shares of Meta slid last week after the Facebook parent company reported that advertising revenue had been soft this quarter. Jerominski told CNN that there have been at least 25 store closures. Fraser Engerman, a Walgreens spokesperson, told CNN that just two stores closed on Monday and no more than 12 pharmacists walked out across the entire country.

Persons: Dow, Rob Almeida, ”, Jason Pride, “, don’t, Erik Weisman, Seema Shah, JPMorgan Chase, Jamie Dimon, Wall, Shane Jerominski, Jerominski, Fraser Engerman, Max —, Tim Cook, Apple Organizations: CNN Business, Bell, New York CNN —, Traders, Nasdaq, MFS Investment Management, Federal Reserve, Asset Management, LPL Research, JPMorgan, Big Tech, Meta, Facebook, Reality Labs, Google, CVS, Walgreens, Staff, CNN, Workers, Apple Locations: New York, United States, Israel, Russia, Ukraine, China, Arizona , Washington , Massachusetts, Oregon, Southern California, Chicago, Deerfield, Apple’s Cupertino , California

☆ Why the Fed could be wrong — again — on its latest interest rate call
▼ + stars: | 2023-10-30 | by ( Jeff Cox | ) www.cnbc.com time to read: +6 min

"The Fed has never kept the target fed funds rate at peak levels for longer than nine months after a tightening cycle," Arone said. Nine months from now, at least based on history, the target fed funds rate is likely to be lower, not higher." He also sees lower rates ahead and pointed out the history of what happens with tight monetary policy. "The market is eager for lower rates or rate cuts. If the Fed has to rate cuts, it's likely because we're in recession or something in the capital markets is broken," he said.

Persons: Jerome Powell, aren't, Michael Arone, Powell, JPMorgan Chase, Jamie Dimon, Arone, Barry Sternlicht, —, I'm, They've, Thomas Ryan, Nick Elfner, Elfner, Breckinridge, Street's Arone Organizations: Federal, U.S, SPDR, State Street Global Advisors, Fed, JPMorgan, Starwood Capital, Future Investment Initiative, Capital Economics, Breckinridge Capital Advisors Locations: United States, Saudi Arabia, U.S, Breckinridge

☆ Expensify launched a glitzy lounge where employees could pay $9 a month for coffee and cocktails. The company is shutting it down just 6 months later.
▼ + stars: | 2023-10-30 | by ( Nidhi Pandurangi | ) www.businessinsider.com time to read: +3 min

Expensify is shutting down its upscale employee lounge in San Francisco. The move comes six months after the space was launched as a return-to-office "experiment," per CEO David Barrett. The expense-tracking company described the space as a high-end airport lounge meets co-working space. Access was built into an existing Expensify membership that started at $9 per month, the company said in April. But the party's coming to an end: The Expensify Lounge will be shutting down on November 1, David Barrett, the company's CEO, announced in a 1,700-word blog post published Wednesday.

Persons: David Barrett, Barrett, —, Expensify, Jamie Dimon — aren't, Dimon Organizations: Service Locations: San Francisco, Portland , Oregon

☆ Elon Musk, Jamie Dimon, and Ray Dalio just issued fresh warnings about the US economy. Here's what 10 experts recently said about recession risks.
▼ + stars: | 2023-10-29 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

Elon Musk, Jamie Dimon, and Ray Dalio all have serious concerns about the US economic outlook. Leon Cooperman, David Solomon, and David Rosenberg have also predicted trouble in recent days. AdvertisementAdvertisementJamie Dimon, Elon Musk, and Ray Dalio are just some of the high-profile commentators who've raised the alarm on the economic outlook in recent days. Elon Musk, CEO of Tesla"I think there's still quite a few shoes to drop on the bad credit situation. David Rosenberg, president of Rosenberg Research"I am willing to acknowledge that the recession has been delayed.

Persons: Elon Musk, Jamie Dimon, Ray Dalio, Leon Cooperman, David Solomon, David Rosenberg, —, who've, Jeremy Grantham, Tesla, I'm, Rosenberg, We've, Goldman Sachs, there's, we've, Larry Fink, Fink, Stephen Schwarzman, Blackstone, we'll, Harley Bassman Organizations: Service, JPMorgan, Omega, Bridgewater Associates Locations: Israel, Ukraine, China

☆ How the Fed is using its multi-trillion-dollar balance sheet to fight inflation
▼ + stars: | 2023-10-29 | by ( Bryan Mena | ) edition.cnn.com time to read: +9 min

Washington, DC CNN —The Fed’s fight against inflation is about to enter a new phase, but the central bank’s enormous balance sheet will continue to play a key role. The Fed also manages a multi-trillion-dollar balance sheet that accounts for trillions in government securities and lists how much currency is in circulation. For over a year now, the Fed has been steadily shrinking its balance sheet to help cool the economy. The Fed’s balance sheet is currently at around $7.9 trillion, down from its peak of $9 trillion in early 2022 right before the runoff. They also see alternative scenarios for the end of the balance sheet runoff if there isn’t a recession.

Persons: that’s, Lael Brainard, What’s, Wells, Jerome Powell, JPMorgan Chase’s Jamie Dimon, Jamie Dimon, Krystal Hur, Dimon —, Mr, Dimon, JPMorgan Chase, what’s, Estee Lauder, Kraft Heinz, Yum, Bausch, Eli Lilly, Molson Organizations: CNN Business, Bell, DC CNN, Congress, Fed, Wall Street, JPMorgan, JPMorgan Chase, CNN, HSBC, McDonald’s, China’s National Bureau of Statistics, Bank of Japan, Pfizer, Caterpillar, Marathon Petroleum, Sirius XM, Anheuser, Busch, BP, Chesapeake Energy, US Labor Department, Global, Board, CVS, GSK, Humana, Reuters, Apollo Global Management, Brands, Garmin, Cruise Line Holdings, Qualcomm, Airbnb, PayPal, MetLife, Aflac, AIG, Allstate, Prudential, P Global, Institute for Supply Management, Federal Reserve, ConocoPhillips, Starbucks, Duke Energy, Shopify, Ferrari, Marriott International, Moderna, Fox, Molson Coors, Hyatt, Apple, Motorola, Bank of England, Dominion Energy, Gartner, Restaurant Brands Locations: Washington, Treasuries, China’s, Mondelez, DoorDash, Avis, Shell, Cigna

☆ Earnings calls reveal how companies ranging from Coca-Cola to JPMorgan are capitalizing on AI
▼ + stars: | 2023-10-29 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

The craze around AI kicked off late last year with the launch of ChatGPT, and dozens of technology companies from Alphabet to Meta Platforms have thrown a hat into the ring . Many companies have utilized AI or machine-learning tools in the past to streamline their businesses. For pharmacy giant Walgreens Boots Alliance and soda maker Coca-Cola , AI is helping improve supply chains, forecast demand and in some cases, predict spending. Centene , UnitedHealth and Elevance Health all highlighted ways they are implementing AI to improve customer offerings. Financials Major financial and banking companies are also finding ways to capitalize on AI to improve efficiencies and their bottom line.

Persons: Gary Guthart, Elevance, UnitedHealth, Erica, Moody's, Andrew Schlossberg, JPMorgan Chase, Jamie Dimon, That's Organizations: CNBC Pro, Consumer, Walgreens Boots Alliance, Supply, Microsoft, Health, Elevance, Bank of America, Google, Mastercard, JPMorgan

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