JP Morgan CEO Jamie Dimon said he would close cryptocurrency if he had the power, during a Senate hearing covering cryptocurrency and its dangers, among other financial topics. “If I was the government, I’d close it down,” Mr. Dimon said, referring to cryptocurrency. He said that he was “deeply opposed to crypto” from its start […]
Multiple U.S. states have voiced their objections to JP Morgan Chase’s class-action settlement with Jeffrey Epstein’s accusers, saying it could limit their ability to seek compensation for sexual abuse victims. The attorneys general of 16 states and Washington, D.C., wrote a letter, which was published on Oct. 23 in the Manhattan federal court. It states […]
At least 20 women who were victims of sex trafficking and sexual abuse at Jeffrey Epstein properties were paid through JPMorgan Chase accounts, according to a new court filing. The women were allegedly abused and trafficked at properties in the U.S. Virgin Islands, New York, and elsewhere between 2003 and 2019. The women received payments […]
JP Morgan expects the U.S. economy to grow only about 0.5-1.0 percent in 20-23, which is less than post-pandemic gains and about 1 percent less than the long-term average annual growth rate. Associate Professor of Economics at Florida Atlantic University, William Luther, tells NTD that the outlook is “a bit optimistic,” considering the Federal Reserve […]
Police have captured the suspect of the 4th of July parade shooting in Illinois and have him in custody. In the city of Chicago alone, 71 people were shot and 8 killed over the weekend, but the politics are being focused on the 4th of July shooting that took place in Chicago’s affluent suburb where […]
Analysts with JP Morgan Chase said the price for a barrel of oil could more than triple if Russia decides to cut its output amid record-high gas prices. The current price for a barrel of oil stands at around $110, but that could increase to a “stratospheric” $380 per barrel if Russia acts to cut […]
Peloton’s uphill ride to get more sales is getting rougher as more people return to gyms and other pre-pandemic exercise routines and embrace cheaper options. The maker of high-end exercise bikes and treadmills, once highflying in the early days of the pandemic, on Tuesday reported mounting losses and slowing sale. It also offered a bleak […]
U.S. investment bank JP Morgan recently labeled Chinese internet companies “uninvestable.” The title wiped out about $200 billion from American and Asian stock markets. But the bank is now calling it an editorial error. NTD talks to an expert to break down what’s happening behind the scenes.
President Joe Biden is taking a hard look at student debt, considering some student loan forgiveness. The auto industry is fighting high inflation and what many believe is a potential coming recession. How are Ford and GM doing? After Elon Musk’s Twitter takeover news, now one Texan rancher is offering the billionaire 100 acres of land […]
Regulators are slapping J.P. Morgan with the biggest fine of its kind for letting workers skirt federal rules. What’s it for exactly? The luxury industry is booming right now, with many reporting record sales. The biggest antique business in North America also had a good year and gave us some insight. Crypto-related scams have cost investors […]
The CEO of JP Morgan is apologizing to the Chinese regime because of a joke. What did he say, and why does he regret it? A Canadian energy company is suing the Biden administration. It’s trying to recoup losses from the canceled Keystone XL Pipeline project. Shares of Gap and Nordstrom plummet Wednesday, after reporting weak earnings due to […]
JP Morgan chairman and CEO Jamie Dimon has branded Bitcoin as “worthless” and said that governments will soon regulate cryptocurrencies. Dimon has been outspoken about digital currencies in the past, previously telling Axios that it has “no intrinsic value” and that regulators are going to “regulate the hell out of it.” At a virtual event hosted by […]
J.P. Morgan fears up to $10 billion could be wiped off the balance sheets of some of the world’s biggest banks after Bill Hwang’s Archegos investment fund was liquidated last week. The banks lent money to Hwang to buy stocks, but it looks like they didn’t realize just how much borrowed money Hwang had in his […]
Apple unveils its first 5G iPhone. There are several versions. The cheapest starts at $699. President Donald Trump is still calling for a stimulus package and he’s telling lawmakers to go big. We discuss the downsides of government intervention and bailouts. Economists give the virus a price tag—$16 trillion. That’s about four times as much […]
It seems banks are also worried about defaults. They’re putting aside significant provisions for potential bad loans. JP Morgan reported a record $10.5 billion of provisions in the second quarter. Is this a sign of a storm ahead? We caught up with Daniel Lacalle earlier to find out.
The European Union fined Barclays, Citigroup, JP Morgan, MUFG and Royal Bank of Scotland a combined 1.07 billion euros ($1.2 billion) on Thursday for rigging the multi-trillion dollar foreign exchange market. Banks have been hit with billions of dollars in fines worldwide over the last decade for the rigging of benchmarks used in many day-to-day financial transactions, further damaging the industry’s fragile reputation after the financial crisis.
