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JPMorgan

JPMorgan Analyst: Worst phase of Bitcoin price decline may be over

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Bitcoin miner

The worst part of the continuing slide in the price of Bitcoin, in the opinion of a JPMorgan analyst, is now behind us. It’s important to note that not all cryptocurrencies, including Bitcoin, are free of problems. The closure of numerous long positions, according to Nikolaos Panigirtzoglou, is to blame for the recent weakening of … Read more

Amazon to launch credit card in Brazil in partnership with Banco Bradesco

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Amazon Spring Sale Offers Top Tech Deals to Save up to 30%

The partnership aims to expand Amazon’s fintech offerings in the country. The credit card’s launch is scheduled for next Tuesday. Banco Bradesco SA will manage the card’s credit risk. Amazon.com is set to introduce a credit card in Brazil through a collaboration with Banco Bradesco SA, as part of its efforts to expand its fintech … Read more

Pay of JPMorgan CEO Jamie Dimon 2022 unchanged at $34.5 million

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Jamie Dimon JPMorga
  • The total remuneration of Jamie Dimon for 2022 at JPMorgan Chase & Co remained at $34.5 million.
  • The largest banks on Wall Street experienced a decline in earnings in 2022.
  • As they braced for a potential recession, they increased their reserves of rainy-day cash.

The total remuneration of Jamie Dimon for 2022 at JPMorgan Chase & Co (JPM.N) remained at $34.5 million, the firm announced on Thursday.

According to a regulatory filing, Dimon will receive a $1.5 million base salary each year in addition to $33 million in performance-based incentives.

“There was no special award granted to Mr. Dimon in 2022 and the Board has committed to not grant any special awards to him in the future,” the filing added.

As the bank handled “significant challenges of strong competition, growing geopolitical tensions, global economic uncertainty, mounting inflation and higher rates, and the lingering impacts of Covid-19.”

The largest banks on Wall Street experienced a decline in earnings in 2022, and as they braced for a potential recession, they increased their reserves of rainy-day cash and reduced employment.

The largest banks on Wall Street experienced a decline in earnings in 2022, and as they braced for a potential recession, they increased their reserves of rainy-day cash and reduced employment.

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Record low proportion of US midsize companies are gloomy about economy

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US midsize

19% of US midsize companies are positive about the national economy over the next year.  This is a record low in the 12-year history of the study by JPMorgan Chase.  In comparison to a year ago, economic pessimism increased from 10% to 51%. According to a study by the nation’s largest bank, a record-low percentage of … Read more

JetBlue’s CEO is ‘confident’ that the airline will be able to buy Spirit

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Spirit

JetBlue CEO says he is “optimistic” he can reach a deal to acquire Spirit Airlines. Florida-based ultra-low-cost carrier Spirit is the subject of a bidding war between JetBlue and Frontier. Spirit has repeatedly rejected JetBlue’s offer. JetBlue Airways Corp (JBLU.O) Chief Executive Robin Hayes said Friday he is “hopeful” he can arrive at an arrangement … Read more

Asian markets fall on China growth concerns

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China

Asian stock dropped on Tuesday as investors worried about the impact of China’s Covid-19 restrictions on the world’s second-largest economy, as investment banks lowered their growth forecasts. A strong rally on Wall Street, where the Dow closed 2.0 percent higher, did not carry over to Asia, and Beijing’s announcement of a new round of stimulus … Read more

According to experts how executives should address Roe v. Wade,

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Roe v. Wade

Corporations have in large part remained silent since the leak of a draft opinion suggesting that the U.S. Supreme Court may overturn the landmark 1973 Roe v. Wade decision. The capacity loss of what’s been a constitutional proper for nearly 1/2 a century has divided us and created an uproar nationwide. However, fundamental companies, with … Read more

JPMorgan firm allows workers to work from home three days a week

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JPMorgan firm allows workers to work from home three days a week A top JPMorgan leader has told his staff they can remote work three days every week, after laborers at the worldwide bank griped the organization was following their in-office ID swipes with an end goal to drive them to return. Drew Cukor, a … Read more

Analysts say stocks may soar just before they collapse

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stocks

Storm clouds seem like gathering over Wall Street, with many analysts pronouncing a downturn is inevitable. But before the party winds down, some expect an explosive pre-crash rally — called a “soften-up.” Melt USA typically occurs without any apparent economic reason for the gains. They manifest whilst buyers buy property primarily based on greed, or … Read more

JPMorgan Chase says US economy is strong, but risks increasing

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JPMorgan

JPMorgan Chase stated the USA economic system stays on solid footing for the quick-term, however warned of heightened longer-term dangers due to inflation and the Ukraine conflict as its pronounced lower quarterly profits. Executives from the large financial institution said households and groups generally remained in appropriate shape, amid a tightening hard work marketplace. But higher … Read more

Global energy crunch may inflate prices

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global energy

BEIJING: Continuing geopolitical tensions like those involving Russia and Ukraine have further tightened global energy supplies and are expected to push commodity prices higher, which will make the ongoing fragile global economic recovery more challenging, analysts said. Any escalation in hostilities will likely pose a significant risk to commodity exports and supplies and further inflate … Read more

International banks in UAE to switch to Monday to Friday work week

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UAE

DUBAI: Deutsche Bank AG, JPMorgan Chase and Co and Societe Generale SA are changing to a Saturday-Sunday weekend from the New Year in the UAE. The German bank will from January 3, 2022 operate Monday-Friday instead of the current Sunday-Thursday, as is common around the Middle East, a source familiar with the matter told Reuters. Wall … Read more

JPMorgan fined $200 mn for recordkeeping violations

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NEW YORK – JPMorgan Chase was hit with $200 million in fines after admitting to “widespread” recordkeeping violations including use of unapproved messaging apps and failing to preserve communications, US regulators announced Friday. “From at least January 2018 through at least November 2020, JPMorgan employees often communicated about securities business matters on their personal devices, using text … Read more

Chinese developer Shimao share plunge adds to property woes

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Shimao

HONG KONG: Chinese real estate firm Shimao Group’s share price plunged to its lowest level in a decade on Tuesday, adding to the concerns over the country’s heavily indebted property sector. The Chinese property firms have struggled in the wake of Beijing’s drive last year to curb excessive debt in the real estate sector, as well … Read more

Egypt ‘ready’ to join JPMorgan index by end of January 2022

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JPMorgan

CAIRO: Egypt announced it is ready to officially join the JPMorgan Government Bond Index-Emerging Markets (GBI-EM) for emerging markets by the end of January next year, CNBC Arabia reported citing the finance minister. Upon joining, Egypt will become one of only two countries in the Middle East North Africa region to make the index. Mohamed Maait said … Read more

Omicron an opportunity for investors: JPMorgan

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Omicron

Turmoil in global equity markets due to the new omicron variant could be an opportunity for investors to rebuild positions, JPMorgan, as saying. According to Bloomberg, the American investment bank suggested the latest evolution of the Covid-19 virus might ultimately be a positive for risk markets because it could signal that the end of the pandemic … Read more

JPMorgan (JPM) Starts In-House Btc Fund for High-Net-Worth Clients

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JPMorgan

JPMorgan JPM offers an in-house passively managed bitcoin fund to its Private Bank wealth management clients. CoinDesk reported that the sale is being conducted in collaboration with bitcoin powerhouse New York Digital Investment Group (“NYDIG”), citing two sources familiar with the subject.

Stone Ridge’s alternative asset manager, NYDIG, is a business. It offers stable custody, execution, asset management, and other institutional-grade infrastructure.

CoinDesk first reported on the new fund in late April. According to sources, the fund has still to receive any customer investments, and JPMorgan only recently held a launch call with advisers.

According to sources aware of the situation, advisers will pitch the fund to clients as the safest and lowest bitcoin investment instrument available on the private markets. The fund “would also act as an easy port over to a bitcoin exchange-traded fund (ETF).”

JPMorgan’s decision to delve deeper into the world of cryptocurrency is notable because its CEO, Jamie Dimon, has always been anti-crypto.

Dimon has expressed his reservations about digital assets and the cryptocurrency industry. He claimed in May that, “I am not a Bitcoin supporter, I don’t really care about Bitcoin. On the other hand, clients are interested and I don’t tell clients what to do.”

Despite Dimon’s persistent criticism of the cryptocurrency sector, JPMorgan is becoming more open to the cryptocurrency world.

According to Business Insider, the bank provided its wealth management clients access to bitcoin and other cryptocurrency money last month. Through advisors, it has offered its clients access to buy and sell five cryptocurrency products.

JPMorgan’s stock has gained 19% this year, compared to the industry’s 24.5 percent gain.

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