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☆ Jamie Dimon's stock-moving trades show why investors should track CEOs' buying and selling
▼ + stars: | 2023-10-28 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +24 min

While executive stock sales — such as Dimon's planned transactions next year — are not universally red flags, they can get complicated. Insider stock sales Executive stock trades are usually disclosed through SEC filings known as Form 4 documents and accessible through the regulator's EDGAR database — the electronic data gathering, analysis, and retrieval system. Rule 10b5-1 trading plans came into the fold just over two decades ago to reconcile these two discordant facts. Adopting Rule 10b5-1 trading plans gives public-company executives a way to protect against allegations of illegal insider trading in the future. Compared with a tiny stock sale executed through a predetermined plan, executive stock buys generally send a much stronger signal: The executive wants to make money, too.

Persons: Jamie Dimon, Dimon, Jim Cramer, Jim, Eliezer Fich, Dimon's, EDGAR, Chester Spatt, Spatt, —, Susan Li, Drexel's, Wharton, Drexel's Fich, Fich, I'm, Nancy Quan's, Quan, Marc Benioff, Carnegie Mellon's Spatt, Benioff, Howard Schultz, Schultz's, Schultz, Carnegie Mellon's, Nikesh Arora, Arora, Charles Scharf, Wells, Sehwa Kim, Kim, Foot, Mary Dillon, Locker, Dillon, Foot Locker, Jim Cramer's, Al Drago Organizations: JPMorgan Chase, JPMorgan, Dow Jones Industrial, Wall, Dimon, Pfizer, Capitol, Drexel University, Club, Securities, Exchange Commission, SEC, Carnegie Mellon's Tepper School of Business, CNBC, Stanford University, University of Pennsylvania's Wharton School, Stanford, Cola, Salesforce, Carnegie, Starbucks, Palo Alto Networks, Alto Networks, Broadcom, Federal Reserve, Washington Service, Columbia Business School, JPMorgan Chase &, Bloomberg, Getty Locations: U.S, Coke, Salesforce, FL

A screen displays the trading information for Morgan Stanley on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., January 19, 2022. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsOct 27 (Reuters) - Morgan Stanley (MS.N) gave its incoming CEO Ted Pick and the two other executives considered for the top job one-time bonuses of $20 million each, the bank said in a filing on Friday. The three-decade Morgan Stanley veteran started his career at the bank and came up the ranks to run trading, equity capital markets and fixed income. It is unusual for Wall Street CEO candidates to stay on if they are not selected, and the bonuses offered at Morgan Stanley break from that tradition. Since becoming CEO in 2010, Gorman has transformed Morgan Stanley, creating a wealth management behemoth and making transformative acquisitions of broker E*Trade and asset manager Eaton Vance.

Persons: Morgan Stanley, Brendan McDermid, MS.N, Ted Pick, Pick, Andy Saperstein, Dan Simkowitz, James Gorman, Jan, Morgan, Gorman, Wells, Mike Mayo, Brian Moynihan, Jamie Dimon, Eaton Vance, Tatiana Bautzer, Lananh Nguyen, Manya, Anil D'Silva, Richard Chang Organizations: New York Stock Exchange, REUTERS, Wall Street, Reuters, Bank of America, JPMorgan Chase, Trade, Manya Saini, Thomson Locations: New York City, U.S, New York, Bengaluru

Dimon and his family intend to sell 1 million of their 8.6 million shares, according to the filing. That is a tiny percentage of the shares outstanding in JPMorgan which has a market capitalization exceeding $409 billion, according to LSEG data. Dimon has no current plans to sell more stock, but could consider doing so in the future, the spokesman added. Shares of JPMorgan slid more than 3%, falling with peers Bank of America (BAC.N), Citigroup (C.N) and Wells Fargo (WFC.N). So far this year, JPMorgan shares have risen 1.4%, outperforming the S&P 500 Banks Index (.SPXBK), which has declined 18%.

Persons: JPMorgan Chase, Jamie Dimon, Dimon, Octavio Marenzi, Marenzi, they're, Schumer, Evelyn Hockstein, Wells, Brian Mulberry, Mulberry, Ben Silverman, Mike Mayo, James Gorman, Morgan Stanley, Peter Orszag, Dave Ellison, Hennessy, Scott Siefers, Piper Sandler, Siefers, Niket, Lananh Nguyen, Nupur Anand, Shilpi Majumdar, Shinjini Ganguli, Mike Harrison, Jonathan Oatis Organizations: JPMorgan, First Republic Bank, Forbes, U.S, Capitol, REUTERS, Bank of America, Citigroup, Zacks Investment Management, Wells, Wall Street, Lazard, Hennessy Funds, Banks, Thomson Locations: U.S, America, Washington , U.S, Wells Fargo, Bengaluru, Lananh, New York

☆ JPMorgan CEO Jamie Dimon to Sell One Million Shares
▼ + stars: | 2023-10-27 | by ( David Benoit | ) www.wsj.com time to read: 1 min

Photo illustration: John McColganJamie Dimon plans to sell a portion of his stock in JPMorgan Chase for the first time. Dimon, the chief executive, intends to sell one million of his current 8.6 million shares “for financial diversification and tax-planning purposes,” the bank said Friday in a filing.

Persons: John McColgan Jamie Dimon Organizations: JPMorgan Chase

☆ JPMorgan CEO Dimon, Family to Cut Stake in Bank
▼ + stars: | 2023-10-27 | by ( Rob Curran | ) www.wsj.com time to read: 1 min

Jamie Dimon has led JPMorgan since 2005. Photo: Marco Bello/Bloomberg NewsJamie Dimon plans to make his first substantial sale of shares in JPMorgan Chase since he took over the bank nearly two decades ago. The move is a notable shift for the executive, who has accumulated a more-than-$1 billion stake in his employer over the years. He has in the past signaled his faith in the company by buying additional stock out of his own pocket.

Persons: Jamie Dimon, Marco Bello Organizations: JPMorgan, Bloomberg, JPMorgan Chase

☆ JPMorgan CEO Jamie Dimon will trim his stake in the lender for the first time
▼ + stars: | 2023-10-27 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

JPMorgan chief Jamie Dimon is selling a part of his stake in the lender for the first time. Since becoming CEO in 2005, Dimon has only expanded his stake in the bank, holding $1.2 billion in shares. AdvertisementAdvertisementJamie Dimon is set to sell JPMorgan shares for the first time since taking the helm of the world's largest bank in 2005. AdvertisementAdvertisementThe chief executive and his family will continue to hold around 7.6 million shares. Ahead of the reductions, Dimon's JPMorgan stake was valued at $1.2 billion, excluding unvested shares of over 2 million in options.

Persons: Jamie Dimon, Dimon, —, he's Organizations: Service, JPMorgan, Securities and Exchange Commission, Wall Street Journal, Financial Times, First Republic Bank

☆ JPMorgan CEO Jamie Dimon to sell 1 million shares of the bank
▼ + stars: | 2023-10-27 | 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 EmailJPMorgan CEO Jamie Dimon to sell 1 million shares of the bankJPMorgan stock took a hit on Friday after the bank said the company's CEO, Jamie Dimon, is selling 1 million shares next year. CNBC's Leslie Picker has the details.

Persons: Jamie Dimon, CNBC's Leslie Picker Organizations: JPMorgan

☆ S&P 500 enters correction territory to close volatile trading week
▼ + stars: | 2023-10-27 | by ( Krystal Hur | ) edition.cnn.com time to read: +3 min

New York CNN —The benchmark S&P 500 index closed in correction territory on Friday, ending a week made volatile by weaker-than-expected earnings reports and strong economic data. The S&P 500 fell 0.5%, marking a more than 10% drop from its most recent July peak. Amazon shares rose 6.8% on Friday after the e-commerce giant reported a beat on top-and bottom-lines for its most recent quarter. Excluding gas and food prices, the core PCE index rose 3.7% for the 12 months ended in September, its smallest year-over-year increase since May 2021. The index rose 0.3% on a monthly basis from the 0.1% rate seen in August.

Persons: Dow, Jamie Dimon Organizations: New, New York CNN, Nasdaq, Chevron, ExxonMobil, Ford Motors, United Auto Workers, JPMorgan Chase, Dow, Gross, Commerce Department, Federal, Traders, The University of Michigan’s Locations: New York

☆ Stock Market Today: Dow Slides 250 Points; Amazon and Intel Stocks Rally
▼ + stars: | 2023-10-27 | by ( ) www.wsj.com time to read: +1 min

JPMorgan shares fell after Chief Executive Jamie Dimon announced plans to make his first substantial sale of the bank’s shares since taking over nearly two decades ago. Exxon Mobil and Chevron shares fell. The Fed's preferred gauge showed core prices rose by 0.3% from the previous month. Oil prices rose. Hong Kong’s Hang Seng Index rose more than 2% and Japan’s Nikkei 225 gained 1.3%.

Persons: Jamie Dimon, Stocks, Brent Organizations: Nasdaq, JPMorgan, Dow, Exxon Mobil, Chevron, Ford, United Auto Workers, Treasury, Nikkei Locations: America

Jamie Dimon will do something he has never done before in nearly two decades as the head of JPMorgan Chase & Co. - sell shares in the company. The top executive of the nation's largest bank will sell 1 million shares starting next year, according to a regulatory filing this week. Dimon and his family currently hold about 8.6 million shares of the bank. Dimon became CEO of JPMorgan in January 2006 and added on the chairman role a year later. The value of JPMorgan's shares have also tripled in that time and they are up another 10% in the past year.

Persons: Jamie Dimon, Mr, Dimon, ” Dimon Organizations: JPMorgan Chase &, JPMorgan, The Locations: The New York, Russia, Ukraine, Israel, Gaza

☆ JPMorgan Chase stock slips after bank says CEO Jamie Dimon is selling 1 million shares
▼ + stars: | 2023-10-27 | by ( Hugh Son | ) www.cnbc.com time to read: +2 min

JPMorgan Chase CEO Jamie Dimon will begin to sell one million shares of the bank he runs next year, the company said Friday in a filing. He has also spent his own money snapping up JPMorgan shares in the past. Shares of the bank slipped 2.5% in morning trading, worse than the 0.8% decline of the KBW Bank Index. Starting in 2024 they currently intend to sell 1 million shares, subject to the terms of a stock trading plan. Mr. Dimon will use stock trading plans to sell his shares, in accordance with guidelines specified under Rule 10b5-1 of the Securities and Exchange Act of 1934.

Persons: Jamie Dimon, Dimon, Wells, Mike Mayo, Mayo, Dimon's Organizations: JPMorgan, KBW, New, Securities, Exchange Locations: New York

☆ CEO Morning Routines Are Bananas. So I Tried a Few.
▼ + stars: | 2023-10-26 | by ( Ray A. Smith | ) www.wsj.com time to read: 1 min

Earlier this month, I decided to take on the challenge of a lifetime: Try a CEO’s morning routine for one day. On Tuesday, I was JPMorgan ’s Jamie Dimon and up before dawn reading five newspapers, research reports and getting in a workout. On Wednesday, call me Nasdaq Chief Executive Adena Friedman . And on Thursday, I stepped into Hollywood executive Nathan Brown’s shoes.

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

☆ Employees ‘didn’t work as hard’ when remote during Covid, billionaire CEO says
▼ + stars: | 2023-10-26 | by ( Matt Egan | ) edition.cnn.com time to read: +3 min

New York CNN —Private-equity billionaire Stephen Schwarzman doesn’t think office workers worked hard enough during Covid-19. “It was actually more profitable for them to stay home because one, they didn’t work as hard, regardless of what they told you. For example, about 58% of Manhattan office workers were at their workplace on an average weekday in late August and September, according to a survey from the Partnership for New York City. Just 12% of Manhattan office workers are in the office full time, according to that survey. Schwarzman, the Blackstone CEO, estimated that 20% of US office buildings are vacant and another 20% are leased but empty.

Persons: Stephen Schwarzman doesn’t, they, Slack, Blackstone, ” Schwarzman, Jamie Dimon, ” DImon, ” Dimon, “ Organizations: New, New York CNN —, Blackstone, “ Davos, Commonwealth Fund, Future Investment, JPMorgan, Partnership Locations: New York, Saudi Arabia, Manhattan, New York City

☆ Morgan Stanley CEO shift pleases all, thrills none
▼ + stars: | 2023-10-26 | by ( John Foley | ) www.reuters.com time to read: +4 min

People take photos by the Morgan Stanley building in Times Square in New York City, New York U.S., February 20, 2020. So the crushing conventionality of Morgan Stanley’s (MS.N)new chief executive selection, announced late on Wednesday, is almost certainly the point. The handover should be fairly civil, since the two CEO also-rans, wealth chief Andy Saperstein and investment management head Dan Simkowitz, both get promotions too. Andy Saperstein, previously seen as a contender for the CEO spot, will retain his leadership of Morgan Stanley’s wealth management business. He will also take on its investment management division, which manages and supervises $1.4 trillion of funds.

Persons: Morgan Stanley, Brendan McDermid, Morgan Stanley’s, Ted Pick, James Gorman, He’s, Morgan Stanley lifer, Morgan, Elon Musk, Gorman, Andy Saperstein, Dan Simkowitz, Goldman Sachs, David Solomon, culls, Wells, Jamie Dimon, aren’t, Goldman, Pick, Antony Currie, Thomas Shum Organizations: New York City , New York U.S, REUTERS, Reuters, Twitter, JPMorgan, Reuters Graphics Reuters, Wall, Thomson Locations: New York City , New York

☆ The CEO of 1-800-Flowers says he got the best business advice from JPMorgan's Jamie Dimon
▼ + stars: | 2023-10-25 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +3 min

1-800-Flowers CEO and cofounder Jim McCann says he got the best piece of business advice from JPMorgan's Jamie Dimon. AdvertisementAdvertisementThe boss of flower and gifts company 1-800-Flowers said JPMorgan's Jamie Dimon gave him the best business advice — that he didn't need his employees' buy-in while making decisions. "Jim, you spend way too much of your time evangelizing," Dimon told McCann, per the latter's retelling. They don't all need to get it," Dimon told McCann. Dimon told McCann his team only needed to have faith that McCann understood the value of his product.

Persons: Jim McCann, Jamie Dimon, Dimon, McCann, —, Flowers, JPMorgan's Jamie Dimon, Fortune's Ruth Umoh, Jim, Chris McCann, Jim's, McCann's, David Organizations: Service, CBS, Factory Locations: New York, York, Queens

☆ Blackstone's Stephen Schwarzman says remote workers 'don't work as hard' and profit from working from home
▼ + stars: | 2023-10-25 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

Stephen Schwarzman said remote workers "don't work as hard regardless of what they tell you." Schwarzman added that remote workers profit because they save on commuting and meals. AdvertisementAdvertisementBillionaire Stephen Schwarzman said on Tuesday that people benefited from remote work because they can save on commuting and meals while not having to work as hard. During Tuesday's panel discussion, Schwarzman said the prevalence of remote working could result in more vacant office buildings. AdvertisementAdvertisementSchwarzman, whose remarks were first reported by Bloomberg on Tuesday, isn't the only business executive who's criticized remote work.

Persons: Stephen Schwarzman, Schwarzman, —, Blackstone, who's, Jamie Dimon, Elon Musk, Musk Organizations: Blackstone, Saudi Arabia's Future Investment Initiative, Service, Bloomberg, JPMorgan, KPMG

☆ Jamie Dimon is right: Economic forecasts have been wrong lately, but that's really nothing new
▼ + stars: | 2023-10-25 | by ( Bob Pisani | ) www.cnbc.com time to read: +6 min

Win Mcnamee | ReutersForecasters have been really wrong on the economy recently, but it's nothing new: They've always been wrong. — that the economic forecasts of the major Wall Street banks had been "100 percent dead wrong" in the last 18 months. It's true that Covid and the Russian invasion of Ukraine threw off forecasts, but that's beside the point: Wrong forecasts are the norm, not the exception. The Federal Reserve's own research staff studied the Federal Reserve's economic forecasts from 1997 to 2008 and found that the Fed's predictions for economic activity one year out were no better than average benchmark predictions. The Times story notes other factors that threw off recent economic forecasts: the Russian invasion of Ukraine: being too pessimistic on growth prospects, lack of good data on real-time consumer savings.

Persons: Win Mcnamee, Jamie Dimon, —, Dimon, He's, Torsten Slok, Russia hadn't, It's, Philip Tetlock, Covid Organizations: U.S . Federal, Washington , D.C, Reuters, JPMorgan Chase, Future Investment, New York Times, Apollo Global Management, Federal Reserve, New York Stock Exchange, Federal, University of Pennsylvania, Fed Locations: Washington ,, Riyadh, Saudi Arabia, Russia, Ukraine, U.S

A screen displays the trading information for Morgan Stanley on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., January 19, 2022. Saperstein, who leads wealth management, will remain co-president and head of wealth, and take on additional responsibilities overseeing investment management. Simkowitz, head of investment management, will become co-president and head of institutional securities. GORMAN'S LEGACYGorman joined Morgan Stanley in February 2006 and was named co-president the following year. Gorman "guided a traditional, white-shoe investment bank through a transformative and successful evolution into a diversified, dynamic wealth management institution," said Ana Arsov, managing director at Moody's.

Persons: Morgan Stanley, Brendan McDermid, Morgan Stanley's, Ted Pick, James Gorman, Gorman, Andy Saperstein, Dan Simkowitz, Pick, Brian Mulberry, John Mack, Brian Moynihan, Jamie Dimon, Eaton Vance, Stephen Biggar, Biggar, bachelor's, Ana Arsov, Manya Saini, Niket, Tatiana Bautzer, Lananh Nguyen, Nupur Anand, Saeed Azhar, Megan Davies, Anil D'Silva, Devika Syamnath, Sonali Paul Organizations: New York Stock Exchange, REUTERS, Wall, Zacks Investment Management, Wall Street's, Bank of America, JPMorgan Chase, Trade Financial Corp, Eaton Vance Corp, Argus Research, University of Melbourne, Columbia University, Thomson Locations: New York City, U.S, Wall, Gorman, Australia, Bengaluru, New York

☆ Startup workers are on edge
▼ + stars: | 2023-10-25 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

In today's big story, we're looking at why startups that have navigated multiple rounds of layoffs have left their workers feeling defeated. It's a question more and more startup employees are contemplating amid a historic downturn in the industry coupled with a pullback in VC funding. But as Insider's Samantha Stokes and Madeline Renbarger detail, employees are on edge nowadays because of the threat of multiple layoffs in a short time. Why work for a corporate entity and be a cog in the wheel when you can get hands-on experience at a startup? AdvertisementAdvertisementiStock; Rebecca Zisser/InsiderBut just because layoffs are a necessary evil of the startup industry, that doesn't mean employees' concerns aren't warranted.

Persons: —, Jamie Dimon isn't, JPMorgan's Jamie Dimon isn't, Samantha Lee, Samantha Stokes, Madeline Renbarger, Samantha, Madeline they've, Rebecca Zisser, Severance, Jamie Dimon, David Rosenberg, Myriam, Airism, Arantza Pena Popo, Chris Rondeau, it's, Katy Perry, Pablo Picasso, Kiersten, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, What's, JPMorgan, EV, Microsoft, TikTok, IBM, Boeing, Meta, Mattel Locations: Southern California, New York City, San Diego, London, New York

☆ How Morgan Stanley exec Ted Pick rose from 'rough edged' deal junkie to CEO
▼ + stars: | 2023-10-25 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +21 min

Editor's note: Morgan Stanley announced on October 25 that Ted Pick would replace James Gorman as CEO. Employees knew they were getting promoted if Pick told them to wear a tie the following day, an ex-managing director recalled. While Morgan Stanley currently trades at a premium among its Wall Street peers, its enviable success isn't thanks to Pick. Gonzalo Marroquin/Patrick McMullan via Getty Images Show less Morgan Stanley investment management head and dark horse in the race for CEO, Dan Simkowitz. Despite enjoying the stock price gains under Gorman's reign, plenty of longtime employees want another dyed-in-the-wool Morgan Stanley loyalist, according to a former senior executive.

Persons: Morgan Stanley, Ted Pick, James Gorman, Pick, Gucci loafers, Blackstone, Tony James, Morgan, Gorman, Andy Saperstein, Dan Simkowitz, John Mack, Ted, James, Phil Purcell, Mack, Purcell, Merrill Lynch, Paul Taubman, Colm Kelleher, coheads, Gonzalo Marroquin, Patrick McMullan, Saperstein, Euromoney, Parker Gilbert, He's, John, cohead, Bolu, Goldman Sachs, Pablo, tony, Betsey Kittenplan, Smith Barney, James cochairs, Jim Breyer, Anna Wintour, John Mack pranking Pick, John Waldron, I'm, Howard Marks, Bill Parcells, atta, Brian Moynihan, aren't, David Solomon, Jamie Dimon's, Eaton Vance, he's, you've, Richard Drew, —, Hayley Cuccinello Organizations: Employees, Archegos Capital Management, Blackstone, McKinsey, Getty, Middlebury College, China Construction Bank, Harvard Business School, Mitsubishi, Wall, Autonomous Research, Anguilla, Agricultural Bank of China, Capital Management, Metropolitan Museum of Art, Vogue, New York Rangers, Oaktree Capital Management, Bloomberg, Staten, Disney, JPMorgan, Trade, AP Locations: China, Beijing, Manhattan, New York City, Caracas, Venezuela, Brookville, tony Long, hcuccinello@insider.com

☆ Wall Street warning: Ray Dalio, Jamie Dimon, Larry Fink issue grim outlooks for the global economy
▼ + stars: | 2023-10-25 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +6 min

Ray Dalio, Jamie Dimon, David Solomon, Larry Fink, and Steve Schwarzman all shared their views. They tackled topics such as inflation, recession, the Israel-Hamas war, and commercial real estate. JPMorgan CEO Jamie Dimon, BlackRock CEO Larry Fink, Goldman Sachs CEO David Solomon, Blackstone CEO Steve Schwarzman, and Bridgewater Associates founder Ray Dalio all shared their views. They touched on everything from the Israel-Hamas conflict and pressures on commercial real estate to inflation, interest rates, fiscal and monetary policies, and the risk of recession. David SolomonThe Goldman Sachs chief recalled the boom in mergers and acquisitions coming out of the pandemic, as massive amounts of fiscal stimulus and rock-bottom interest rates fueled "extreme confidence."

Persons: Ray Dalio, Jamie Dimon, David Solomon, Larry Fink, Steve Schwarzman, —, Goldman Sachs, Blackstone, Dalio, Dimon, Fayez Nureldine, David Solomon The Goldman Sachs, that's, Solomon, Fink, aren't, he's, we'll, Schwarzman Organizations: Service, Future Investment Initiative, Tuesday, JPMorgan, BlackRock, Bridgewater Associates, Getty Locations: Saudi Arabia, Israel, Russia, Ukraine, Riyadh, AFP

☆ Jamie Dimon warns against predicting what's next for the economy - and slams central banks for 'dead wrong' forecasts
▼ + stars: | 2023-10-24 | by ( Phil Rosen | ) www.businessinsider.com time to read: +2 min

JPMorgan's Jamie Dimon said central banks' outlook from 18 months ago was "100% dead wrong." Dimon is doubtful that central banks and governments can manage the coming turmoil. In a panel at the Future Investment Initiative Summit in Riyadh, Saudi Arabia, the banker called out governments and central banks, and said some more humility should be in order. "I want to point out the central banks 18 months ago were 100% dead wrong," Dimon added. "Fiscal spending is more than it's ever been in peacetime and there's this omnipotent feeling that central banks and governments can manage through all this stuff," Dimon said.

Persons: Jamie Dimon, —, JPMorgan Chase, I've, Dimon Organizations: Service, JPMorgan, Future Investment Initiative, Federal Reserve, Fed Locations: Riyadh, Saudi Arabia, Ukraine

☆ Big Tech said return to the office. She had another solution
▼ + stars: | 2023-10-24 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +10 min

New York CNN —Big Tech has given workers an ultimatum: Come back to the office, or find a new job. However, the program risked letting all employees work from home or any other remote location. Intentional office gatheringsAhead of instituting Flex Forward, Autodesk was “rethinking our office footprint,” Blum said. For instance, Autodesk closed its San Rafael, California, office; consolidated it with the San Francisco headquarters; and started subleasing some of its office space. But, increasingly, the talent acquisition team is seeing more candidates apply for openings because they view Autodesk as “that remote company,” Pearce added.

Persons: Elon Musk, Mark Zuckerberg, Rebecca Pearce, Pearce, “ I’m, ” Pearce, ”, Steve Blum, Autodesk’s, it’s, ” Musk, Jamie Dimon, Michael Nagle, —, “, doesn’t, Andy Jassy, Jassy, don’t, ’ ”, ” Blum, Blum Organizations: New, New York CNN, Big Tech, Autodesk, Flex, CNN, Autodesk Inc, ”, Meta, JPMorgan, Bloomberg, Getty, ” Autodesk, La Nacion, “, San, Employees Locations: New York, Cornwall, England, North America, Autodesk’s Portland , Oregon, Portland , Oregon, La, Rafael , California, San Francisco, cubicles, Autodesk's Portland , Oregon

☆ Davos in the Desert: Jamie Dimon and other bankers visit Saudi Arabia as Israel-Hamas war rages
▼ + stars: | 2023-10-24 | by ( Hanna Ziady | ) edition.cnn.com time to read: +6 min

Dubbed “Davos in the Desert,” the annual Future Investment Initiative (FII) will welcome about 6,000 participants from more than 90 countries over the next three days. Since the Hamas assault on October 7, Israel has widened its offensive against the Palestinian militant group and other regional enemies. Saudi Arabia’s crown prince Mohammad bin Salman, denied any personal involvement in Khashoggi’s murder but later confirmed it was carried out by Saudi officials. Bin Salman chairs the Public Investment Fund. “Very few people” had canceled plans to attend the conference, according to Richard Attias, the CEO of the FII Institute, the event’s organizer.

Persons: Jamie Dimon, Citigroup’s Jane Fraser, Defense Lloyd Austin, Larry Fink, Goldman Sachs, David Solomon, Noel Quinn, Ray Dalio, Stephen Schwarzman, Harvey Schwartz, Blackstone, Carlyle, “ We’re, it’s, ”, Fraser, Fink, “, Karen E, WeWork, Slack, Jamal Khashoggi, Saudi Arabia’s, Mohammad bin Salman, Bin Salman, bin Salman, Masayoshi, Richard Attias, Young, — Winston Lo, Michelle Toh Organizations: London CNN, “, Future Investment Initiative, Defense, Palestinian, Israel Defense Forces, West Bank, HSBC, Citigroup, Saudi, Public Investment Fund, Columbia University’s Center, Global Energy, CNN, Reliance Retail, Softbank’s Vision, Future Investment, FII Institute, Young of Columbia University Locations: Saudi Arabia, Israel, “ Davos, Gaza, Lebanon, Riyadh, Ukraine, Europe, United States, Washington, Russia, Saudi, Istanbul, Kingdom, Hong Kong

A Saudi man's reflection is seen in mirror glass at the Future Investment Initiative conference, in Riyadh, Saudi Arabia, October 25, 2022. Geopolitical tensions heightened by the Middle East conflict pose the biggest threat to the world economy, World Bank President Ajay Banga said. The conflict could upset the stability of the Middle East just as regional powerhouse Saudi Arabia pours hundreds of billions of dollars into a vast economic transformation plan. Saudi Arabia is putting U.S.-backed plans to normalise ties with Israel on ice, two sources familiar with Riyadh's thinking said, signalling a rapid rethinking of its foreign policy priorities as war rages between Israel and Hamas. The last year has seen Saudi Arabia spend billions on companies, from sports to gaming to aviation.

Persons: Ahmed Yosri, Ajay Banga, Banga, Laurence Fink, Fink, Goldman Sachs, David Solomon, JPMorgan's, Jamie Dimon, Jane Fraser, Ray Dalio, Dalio, Noel Quinn, Bill Winters, Barack Obama, Yasser al, Salomon, Hess, Stephen Schwarzman, Schwarzman, Prince Mohammed bin Salman, Joe Biden's, Richard Attias, Rosario, Amanda Cooper, Alun John, Michael Georgy, Anousha, John O'Donnell, Susan Fenton Organizations: Future Investment Initiative, REUTERS, Rights, Saudi Arabia's, Hamas, BlackRock, Bridgewater Associates, HSBC, Former U.S, U.S, Saudi Telecom Corp, Telefonica, Investment Fund, Chevron, Blackstone Group, Investment Initiative, Saudi, FII, Reuters, Jorgelina, Thomson Locations: Saudi, Riyadh, Saudi Arabia, Rights RIYADH, Israel, Davos, Swiss, Gaza, Europe, Asia, London

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