Finance
Fed Governor Waller expects 0.75 percentage point hike, but open to a larger one
Christopher Waller, U.S. President Donald Trump’s nominee for governor of the Federal Reserve, speaks during a Senate Banking Committee confirmation hearing in Washington, D.C., U.S, on Thursday, Feb. 13, 2020. Andrew Harrer | Bloomberg | Getty Images Federal Reserve Governor Christopher Waller said he’s willing to consider what would be the most aggressive interest rate […]
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Powell, Clarida cleared of wrongdoing in Fed trading controversy
Controversial trading activities from Federal Reserve Chairman Jerome Powell and former Vice Chairman Richard Clarida didn’t break any rules or laws, the central bank’s Office of Inspector General ruled Thursday. The report covered a period from 2019-21 when the two top-ranking officials traded stocks and funds while the central bank used monetary policy to influence […]
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Dimon rips Fed stress test as ‘terrible way to run’ financial system after his bank halts buybacks
Jamie Dimon, CEO of JP Morgan Chase, speaking at the Business Roundtable CEO Innovation Summit in Washington, D.C. on Dec. 6th, 2018. Janvhi Bhojwani | CNBC JPMorgan Chase CEO Jamie Dimon didn’t mince words when it came to the regulatory process that forced his bank to suspend its stock buybacks. Asked by veteran banking analyst Betsy […]
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Stocks making the biggest moves midday: JPMorgan Chase, Goldman Sachs, Conagra Brands and more
Pedestrians pass in front of a JPMorgan & Chase bank branch automated teller machine (ATM) kiosk in downtown Chicago, Illinois. Christopher Dilts | Bloomberg | Getty Images Check out the companies making headlines in midday trading. JPMorgan Chase – Shares of JPMorgan Chase sunk 3.49% and hit a 52-week low after the bank reported quarterly […]
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JPMorgan CEO Dimon sums up U.S. economy in one paragraph — and it sounds bad
JP Morgan Chase & Co. Chairman & Chief Executive Officer Jamie Dimon testifies before the House Financial Services Committee on accountability for megabanks in the Rayburn House Office Building on Capitol Hill in Washington, DC on April 10, 2019. Mandel Ngan | AFP | Getty Images JPMorgan Chase CEO Jamie Dimon on Thursday summarized the […]
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Inflation poses a ‘clear and present danger,’ says Manchin: Economists weigh in on how it can hurt and help consumers
A person shops for groceries on March 10, 2022 in the Prospect Lefferts Garden neighborhood of Brooklyn. Michael M. Santiago | Getty Images News | Getty Images Inflation hit a new 40-year high in June, and policymakers are working feverishly to tame it — perhaps even risking recession to do so. Jerome Powell, chair […]
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JPMorgan Chase earnings fell 28% after building reserves for bad loans, bank suspends buybanks
JPMorgan Chase said Thursday that second-quarter profit slumped as the bank built reserves for bad loans by $428 million and suspended share buybacks. The actions reflect Chairman and CEO Jamie Dimon’s increasingly cautious stance. “The U.S. economy continues to grow and both the job market and consumer spending, and their ability to spend, remain healthy,” […]
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Stocks making the biggest moves premarket: JPMorgan, Taiwan Semiconductor, Ericsson and more
Check out the companies making headlines before the bell: JPMorgan Chase (JPM) – JPMorgan Chase was down 2.9% in premarket trading after falling 12 cents shy of estimates with a quarterly profit of $2.76 per share. It also announced it was temporarily suspending share buybacks. CEO Jamie Dimon said inflation, waning consumer confidence and other […]
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Morgan Stanley misses analysts’ profit expectations on worse-than-expected investment banking
James Gorman, chairman and chief executive officer of Morgan Stanley, speaks during a Bloomberg Television interview in Beijing, China, on Thursday, May 30, 2019. Giulia Marchi | Bloomberg | Getty Images Morgan Stanley posted results on Thursday below analysts’ expectations for second quarter profit and revenue on weaker-than-expected investment banking revenue. Here are the numbers: […]
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Richard Branson takes a stake in Lightyear, a start-up hoping to become Europe’s answer to Robinhood
The Lightyear app. Lightyear Lightyear, a European challenger to trading platform Robinhood, has raised $25 million of funding in an investment round backed by British billionaire Richard Branson. Silicon Valley’s Lightspeed Venture Partners led the deal, the company told CNBC exclusively — a rare vote of confidence for an upstart brokerage at a time when […]
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