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REUTERS/Mike Segar/File PhotoNEW YORK, June 21 (Reuters) - JPMorgan Chase & Co's (JPM.N) commercial bank is entering Singapore and Israel this year as its unit catering to midsize and small companies makes a global push, the bank said. The moves will give the commercial bank a presence in 28 countries by year-end. The largest U.S. lender has been beefing up its global presence, with a goal of quadrupling the number of commercial clients as it enters new geographies. JPMorgan's commercial bank began branching outside of the U.S. and Canada in 2019, establishing bases in Europe and Asia. Revenue for the international commercial business stood at $847 million at the end of 2022, reflecting annual growth of 17%.

Persons: Morgan Chase, Mike Segar, Andrew Kresse, Doug Petno, Morgan McGrath, Nupur Anand, Lananh Nguyen, Conor Humphries Organizations: Co, New York City, REUTERS, JPMorgan Chase, U.S, JPMorgan, World Trade Organization, Revenue, Thomson Locations: New York, Singapore, Israel, U.S, Paris, London, Tel Aviv, Sydney, Canada, Europe, Asia

☆ Amazon HQ2 is not matching the original hype. The economy is partly to blame
▼ + stars: | 2023-06-20 | by ( Scott Cohn | ) www.cnbc.com time to read: +2 min

When Amazon first announced plans for a second corporate headquarters in 2017, it set off an epic bidding war. Virginia beat 237 competitors to win the project, and when it finally opened last week in the Crystal City section of Arlington, Virginia Gov. "We have high expectations because they are well placed," he told Amazon employees, "on an organization that delivers on promises made." But those promises from Amazon have changed dramatically from the original vision, which called for a $5 billion complex with 50,000 employees. Then, when local opposition blew up in New York, Amazon decided to ditch New York, put 25,000 employees in Arlington, and spread the rest among its other North American hubs.

Persons: Glenn Youngkin, there's, Holly Sullivan, Tom Stringer Organizations: Amazon, Arlington , Virginia Gov, Companies, BDO Locations: Virginia, Crystal, Arlington , Virginia, New York, States, Arlington, Queens , New York

NEW YORK, June 12 (Reuters) - JPMorgan Chase (JPM.N) agreed to pay about $290 million to settle a class action lawsuit by Jeffrey Epstein's victims, resolving a large part of litigation over the bank's relationship with the disgraced financier. Monday's settlement came 3-1/2 weeks after Deutsche Bank (DBKGn.DE), where Epstein was a client from 2013 to 2018, agreed to pay $75 million to end a similar lawsuit by Epstein victims. "A settlement with Epstein's victims frees JPMorgan to begin to turn the page and change the narrative." The $290 million settlement amount was confirmed by David Boies, a lawyer for Epstein's victims. Last month, Rakoff said JPMorgan could be liable to Epstein's victims if they could show Staley had firsthand knowledge that Epstein ran a sex-trafficking venture.

Persons: JPMorgan Chase, JPM.N, Jeffrey Epstein's, Epstein, Jane Doe, Carliss Chatman, Chase, Temin, Jed Rakoff, JPMorgan, Adam Zimmerman, David Boies, Sigrid McCawley, Morgan Chase, Mike Segar JPMorgan, Jes Staley, shepherding, Staley, Rakoff, Jamie Dimon, Ghislaine Maxwell, Maxwell, Chatman, Mary Erdoes, Stephen Cutler, Dimon, Cutler, Jeffrey Epstein, Erdoes, Nupur Anand, Lananh Nguyen, Saeed Azhar, Luc Cohen, Jonathan Stempel, Tatiana Bautzer, Megan Davies, Alexander Smith, Grant McCool, Lisa Shumaker Organizations: YORK, JPMorgan, Washington, Lee University School of Law, U.S, Deutsche Bank, University of Southern, Co, New York City, REUTERS, U.S ., Barclays, U.S . Virgin, Thomson Locations: U.S, Manhattan, Virginia, University of Southern California, New York, U.S . Virgin Islands

☆ Why the 34-year-old CEO of P.F. Chang's likes to wake up at 4:30 a.m. daily to work out
▼ + stars: | 2023-06-11 | by ( Hayley Peterson | ) www.businessinsider.com time to read: +3 min

He says early morning runs help him stay mentally sharp and give him a "conquest" to start the day. Chang's says early morning runs help him stay sharp at work and build mental discipline. "I like the routine precisely because it's hard," Adamolekun told MarketWatch. After his runs, Adamolekun gets some work done in his home office, as he's previously told Insider. Adamolekun told MarketWatch his youth may help him connect with younger consumers.

Persons: —, Chang's, Damola Adamolekun, Fortune, Adamolekun, he's, Paulson, it's Organizations: Service, Co, TriArtisan Capital Advisors Locations: Chang's, Scottsdale , Arizona

☆ Commonwealth Fusion has raised $2 billion to make energy like the sun and stars — here's a look inside
▼ + stars: | 2023-06-08 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +10 min

Bob Mumgaard, the CEO of Commonwealth Fusion Systems Photo courtesy Commonwealth Fusion SystemsYou don't need to be a nuclear physicist to follow this race. The Commonwealth Fusion Systems campus in headquartered in Devens, Mass., which is between 35 and 40 miles outside of downtown Boston. The 50-acre campus is where Commonwealth Fusion System's corporate headquarters, advanced manufacturing facility and demonstration fusion device are all located. What it looks like to spend $2 billion to build a fusion machineIn the race to deliver fusion, Commonwealth is a frontrunner. The Commonwealth Fusion Systems' SPARC facility under construction in Devens, Mass.

Persons: Cat Clifford, Mumgaard, Wright, Bob Mumgaard, We've, haven't, Andrew Holland, Brandon Sorbom, Sorbom, Ally Yost, Yost, Alex Creely Organizations: Commonwealth Fusion Systems, CNBC, Commonwealth Fusion, United, Commonwealth, Fusion Industry Association, SPARC, ARC, Boeing Locations: Devens , Mass, Boston, Germany, Fukushima, Commonwealth

☆ Air India plane from Delhi to San Francisco lands in Russia after engine problem
▼ + stars: | 2023-06-06 | by ( ) www.cnbc.com time to read: +3 min

A bird flies over a logo of Air India airlines at the corporate headquarters in Mumbai, India, October 19, 2021. An Air India plane flying from Delhi to San Francisco was forced to divert and land at an airport in Russia's Far East after it developed a technical issue with one of its engines, the airline said on Tuesday. The 216 passengers and 16 crew onboard were being offered support on the ground and accommodated in local hotels for the night, Air India said. Air India said it could not share any passenger details. GE Aerospace said it was aware of the diversion and working with Air India to resolve the issue.

Persons: Vedant Patel, Patel, Rosaviatsia Organizations: Air India, An, Boeing, United Airlines, Air, . State Department, General Electric, Union, Norwegian Air Boeing, Washington, GE, U.S . Treasury, U.S . Department of Commerce, GE Aerospace Locations: Mumbai, India, An Air India, Delhi, San Francisco, Russia's Far, Russia, Air India, U.S, Magadan, Okhotsk, Iran, Shiraz, United

☆ Ex-JPMorgan executive wrote Epstein 'should not be a client' in 2011 email -deposition
▼ + stars: | 2023-05-31 | by ( Luc Cohen | Thomson Reuters | Reports On The New York Federal Courts. Previously Worked As A Correspondent In Venezuela | ) www.reuters.com time to read: +3 min

Dimon said in the deposition he was not aware of the email at the time but "I know it today." Epstein was a JPMorgan client from 2000 to 2013, remaining so after pleading guilty in 2008 to a Florida state prostitution charge. In the deposition, Dimon also repeatedly denied speaking about Epstein with Staley, who was friendly with Epstein. Staley has said he regrets his friendship with Epstein, but denied knowing about Epstein's alleged sex trafficking. Epstein died in 2019 in a Manhattan jail cell while awaiting trial on sex trafficking charges.

Persons: Morgan Chase, Mike Segar, Jeffrey Epstein, Jamie Dimon, Dimon, Epstein, Ghislaine Maxwell, Stephen Cutler, Jes Staley, Mary Erdoes, Cutler, David Boies, Jane Doe, JP Morgan, Staley, Erdoes, Niket, Luc Cohen, Saumyadeb Chakrabarty, Rosalba O'Brien Organizations: Co, New York City, REUTERS, JPMorgan Chase &, Reuters, U.S ., JPMorgan, Virgin, The New York Times, Thomson Locations: New York, U.S, U.S . Virgin Islands, Florida, Manhattan, Bengaluru

☆ Dollar General shareholders pass proposal to improve worker safety
▼ + stars: | 2023-05-31 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +4 min

Dollar General shareholders passed a resolution Wednesday to create an independent audit into worker safety, as the retailer faces mounting pressure to improve conditions. Dollar General's board recommended shareholders vote against the measure. "I'm one of the hundreds of thousands of Dollar General employees that come into work every day scared for our safety. Williams pointed to the financial implications of Dollar General's safety issues. Beyond fire hazards and dangerous levels of clutter, Dollar General has become a hot spot for gun violence.

Persons: stocker David Williams, Williams, Debbie Berkowitz Organizations: Domini Impact, Research, federal, Safety, Health Administration, Dollar, OSHA, Violence Locations: Mexico, America, Goodlettsville , Tennessee

☆ Explainer: Why are Nvidia's shares soaring and what is its role in the AI boom?
▼ + stars: | 2023-05-25 | by ( ) www.reuters.com time to read: +3 min

FROM GAMING TO AI: NVIDIA'S FOCUS SHIFTNvidia, known for its chips used in videogames, pivoted to the data center market over the last few years. WHY IS GENERATIVE AI A HOT TOPIC? Viral chatbot ChatGPT has made generative AI a buzzword this year. More recently, chipmaker Advanced Micro Devices (AMD.O) released details on its new AI chip to try to challenge Nvidia's market share. Nvidia's main competitors include Advanced Micro Devices and AI chips made in-house by companies such as Amazon.com, Google and Meta Platforms.

Persons: Nvidia, ChatGPT, Goldman Sachs, Elon Musk, Chavi Mehta, Sriraj Kalluvila, David Gaffen Organizations: Nvidia, NVIDIA, Apple, Microsoft, Handout, REUTERS, Microsoft Corp, Inc, Google, Devices, Intel, Tesla, Financial Times, WHO, Thomson Locations: U.S, Santa Clara , California, Bengaluru

☆ Ex-Apple Engineer Indicted in Crackdown on Flow of Restricted Tech to China, Russia
▼ + stars: | 2023-05-16 | by ( Sadie Gurman | Dylan Tokar | ) www.wsj.com time to read: 1 min

The Steve Jobs Theater on the grounds of Apple Park corporate headquarters in Cupertino, Calif. Photo: Andrej Sokolow/dpa/ReutersWASHINGTON—A former Apple engineer has been charged with trying to steal the company’s self-driving-car technology, U.S. authorities said Tuesday, one of a series of actions aimed at dismantling what they say are illicit networks providing Russia and China with access to trade secrets and restricted items such as aircraft parts and battlefield equipment. Weibao Wang, 35 years old, a software engineer at Apple from 2016 to 2018, was charged with six counts of theft or attempted theft of the company’s “entire autonomy source code,” tracking systems, architecture designs and descriptions of hardware behind the technology, the Justice Department said in an indictment.

☆ Tesla 2023 shareholder meeting: Musk says Tesla will try advertising
▼ + stars: | 2023-05-16 | by ( Lora Kolodny | ) www.cnbc.com time to read: +2 min

In an aerial view, Tesla Corporate Headquarters are seen on January 03, 2023 in Travis County, Texas. Tesla CEO Elon Musk addressed shareholders at the company's annual meeting on Tuesday, predicting the economy would pick up after 12 months and promising the company would deliver production Cybertrucks later this year. Addressing the long delays to the angular electric pickup, Musk lamented some of the manufacturing challenges and said, "Sorry for the delay. During the Q&A session, an attendee dressed like a robot with a cowboy hat, asked Musk if Tesla would build an RV or a camper. Musk said on Tuesday, "We'll try out a little advertising and see how it goes."

☆ Here are the top 10 stock analysts of the past decade, according to TipRanks
▼ + stars: | 2023-04-23 | by ( Tipranks.Com Staff | ) www.cnbc.com time to read: +4 min

TipRanks' algorithms calculated the average return and statistical significance of each rating, as well as the analysts' overall success rate. To come up with this list, TipRanks analyzed every stock recommendation made by analysts in the past decade. TipRanks is celebrating a decade of simplifying investment decisions through its data-driven research tools: Here is a list of the 10 best analysts on Wall Street. Bolton's best rating in the past decade has been on ACM Research (NASDAQ:ACMR), a semiconductor equipment manufacturing company. These analysts generated significant returns from their recommendations in the past decade and have notable success rates.

☆ Amazon-owned Whole Foods is laying off hundreds of corporate employees and axing some regional offices
▼ + stars: | 2023-04-21 | by ( Alex Bitter | ) www.businessinsider.com time to read: +3 min

Whole Foods is laying off several hundred corporate employees, CNBC reported Thursday. The cuts will affect "less than half of a percent" of Whole Foods' global workforce, CNBC reported, citing a Whole Foods spokesperson. Positions at Whole Foods stores and distribution centers aren't affected by the layoffs, according to the memo. The layoffs and reorganization will "further simplify our operations, make processes easier, and improve how we support our stores," according to the memo. Among them are cutting prices on frequently purchased grocery items and giving corporate teams more say over matters once delegated to regional staff.

☆ Taco Bell's chief of equity, inclusion, and belonging opens up about using her voice and her seat at the table
▼ + stars: | 2023-04-21 | by ( Josée Rose | ) www.businessinsider.com time to read: +12 min

KT Thornton, Taco Bell's chief of equity, inclusion, and belonging, said she felt "fully embraced." Equity, inclusion, and belonging is a term we use across our entire Yum system. And I'm going to push and I'm going to challenge. What are you most worried about in terms of diversity, equity, inclusion, and belonging in corporate America? One of the things I've seen in just the space of equity, inclusion, and belonging is it's often posed as this journey.

☆ Amazon-owned Whole Foods is laying off hundreds of corporate employees, including some regional staff
▼ + stars: | 2023-04-21 | by ( Alex Bitter | ) www.businessinsider.com time to read: +3 min

Whole Foods is laying off several hundred corporate employees, CNBC reported Thursday. Amazon has been adjusting its grocery strategy, including Whole Foods and Amazon Fresh. The cuts will affect "less than half of a percent" of Whole Foods' global workforce, CNBC reported, citing a Whole Foods spokesperson. Positions at Whole Foods stores and distribution centers aren't affected by the layoffs, according to the memo. Among them are cutting prices on frequently purchased grocery items and giving corporate teams more say over matters once delegated to regional staff.

☆ JPMorgan is asking senior managers to be in the office five days a week. Here's the latest on return-to-office mandates.
▼ + stars: | 2023-04-16 | by ( Matt Turner | Dave Smith | ) www.businessinsider.com time to read: +4 min

On the agenda today:But first: JPMorgan is asking senior managers to be in the office five days a week. The company told senior managers this week that they "have to be visible on the floor" in a memo asking managing directors to be in the office five days a week. Last month, Disney told employees they were expected to be back to the office four days a week. And Amazon said it wants all employees back in the office at least three days a week by next month, setting off both internal opposition and support, and a scramble to get office space ready. A dozen former Kittyhawk employees told Insider that Kittyhawk found itself torn between the conflicting visions and shifting priorities of its billionaire founder and his handpicked CEO.

[1/2] A view of the exterior of the JP Morgan Chase & Co. corporate headquarters in New York City May 20, 2015. REUTERS/Mike SegarApril 13 (Reuters) - JPMorgan Chase & Co (JPM.N) has dropped or cut credit lines to a large number of Indian metals clients, sending them looking for new brokers, the head of Nanhua Financial UK told Reuters. "Loads of Indian clients have enquired because JP Morgan cancelled their accounts," said Nong Yan, chief executive of Nanhua Financial UK, the British arm of one of the biggest future brokers in China. Broker Marex Financial has also been picking up new clients as JP Morgan and other banks reduce their exposure to metals and commodities, its chief executive said. "It's not just JP Morgan, all of these banks are sharpening their focus.

☆ JPMorgan scales down metals business - Bloomberg News
▼ + stars: | 2023-04-13 | by ( ) www.reuters.com time to read: +1 min

[1/2] A view of the exterior of the JP Morgan Chase & Co. corporate headquarters in New York City May 20, 2015. REUTERS/Mike SegarApril 13 (Reuters) - JPMorgan Chase & Co (JPM.N) has stopped working with dozens of base metals clients and slashed bonuses of its bankers after last year's nickel crisis, Bloomberg News reported on Thursday, citing people familiar with the matter. JPMorgan's metals business has been under strict internal scrutiny due to the bank's role in the upheaval last year, when the London Metal Exchange (LME) was forced to suspend nickel trading after the metal's prices doubled. JPMorgan has cut numerous base metals clients in Asia, particularly stopping business with privately owned Chinese companies, according to the Bloomberg report. The bank is continuing to work only with a few large, long-standing clients in the region, the report added.

☆ See the memo detailing JPMorgan's new mandatory office policy for managing directors
▼ + stars: | 2023-04-12 | by ( Carter Johnson | ) www.businessinsider.com time to read: +8 min

JPMorgan Chase is abandoning a hybrid attendance policy it adopted during the pandemic and requiring executives to return to the office. On Wednesday, JPMorgan, the nation's largest bank by assets, said it will now mandate that all managing directors come to the office five days a week. In 2021, he wrote in his annual note to shareholders that he envisioned many JPMorgan employees returning to the office full-time, while allowing for exceptions. Tracking attendance is not only important to manage hybrid work schedules but also for real estate, resiliency and security purposes. In the meantime, you can find many useful tools and resources on the Hybrid Working page.

Earnings per share for the six biggest U.S. banks are expected to be down about 10% from a year earlier, analyst estimates from Refinitiv I/B/E/S show. The bank is expected to report a 30% rise in EPS, buoyed by an almost 36% increase in net interest income, according the Refinitiv I/B/E/S estimates and Reuters calculations. "We expect a challenging earnings season for the banks," said David Chiaverini, banking analyst at Wedbush Securities, in a note. He said bank managements will become more defensive, implementing liquidity measures that could lead to downward revisions for net interest income. Net interest income for the six biggest U.S. banks are expected to be up about 30% from a year earlier, according to analyst estimates from Refinitiv I/B/E/S.

☆ Bed Bath & Beyond set to complete a round of layoffs in New Jersey the day before a new state law takes effect that would mean millions more in severance for workers
▼ + stars: | 2023-03-24 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +5 min

Bed Bath & Beyond is closing 43 stores, two warehouses, and one fulfillment center in New Jersey. New layoff rules go into effect on April 10 in the state, which could have cost the company millions. On the morning of Tuesday, January 10, Bed Bath & Beyond CEO Sue Gove offered a rosy update about the company's turnaround strategy during its third-quarter earnings call. Representatives for Bed Bath & Beyond did not respond to Insider's question about whether the law influenced the timing of its New Jersey closures. Unlike prior cuts in which as many as 12 weeks of severance pay were given, Bed Bath & Beyond workers in several states affected by this round of layoffs tell Insider they will receive nothing.

☆ Stocks making the biggest moves midday: Nvidia, First Republic, Nike, GameStop and more
▼ + stars: | 2023-03-22 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Wall Street analysts lauded the company's artificial intelligence leadership following its developer conference Tuesday. First Republic Bank — Shares of the regional bank were down nearly 16% on Wednesday. Its results can't be compared with Wall Street estimates because too few analysts cover the company. Petco Health and Wellness — Shares fell 17.5% after the company reported earnings. The Wall Street firm believes the self-driving car software stock is too expensive and could fall 35% from Tuesday's close.

☆ Bodyguards, security costs, and private jets: Companies can spend millions protecting CEOs like Mark Zuckerberg and Tim Cook
▼ + stars: | 2023-03-09 | by ( Britney Nguyen | ) www.businessinsider.com time to read: +1 min

Dara Khosrowshahi: $507,579 in 2021Since Uber implemented its security program for CEO Dara Khosrowshahi, it "has identified actual and credible threats to Mr. Khosrowshahi's safety," its proxy statement said. His security and personal safety costs added up to $507,579 — $402,366 of which was for personal transportation services and $105,213 of which was for "protective intelligence services." Uber's filing says its security program includes certified protection officers, as well as secure meeting spaces and lodging for its executives. Khosrowshahi." The company's filing said that since it implemented its security program it "has identified actual and credible threats to Mr. Khosrowshahi's safety as a result of the high-profile nature of being our CEO."

☆ Take a look inside Subway's new corporate HQ, where it has a mock restaurant to test out new menu items
▼ + stars: | 2023-03-03 | by ( Grace Dean | ) www.businessinsider.com time to read: 1 min

Subway announced on Thursday that it has opened its new corporate headquarters in Miami, just a few minutes' drive from the Florida city's international airport. The exterior of Subway's new Miami HQ. Eileen Escarda via SubwayNews of the opening had been circling since at least 2020, and marks Subway's transformation into a dual-headquartered business. The sandwich chain announced the relocation in 2021, but had up until now shared few details.

☆ Billionaire Warren Buffett still lives in the same home he bought for $31,500 more than 60 years ago
▼ + stars: | 2023-03-03 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +1 min

Billionaire Warren Buffett is famously frugal. The Berkshire Hathaway CEO still resides in the five-bedroom home in central Omaha, Nebraska, he purchased for $31,500 in 1958, which is about $329,505 in today's dollars. "He's authentic," says CNBC's Becky Quick, who has a longstanding relationship with Buffett and interviews him frequently. Located in a quiet neighborhood of Omaha, Nebraska lies the home of billionaire Warren Buffett. Orjan F. Ellingvag | Getty ImagesBuffett doesn't plan on trading his Omaha home for a more luxurious one any time soon.

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