breakingNewsGlobal
Goldman Sachs to post $400 million hit to third-quarter results as it unwinds consumer business
David Solomon, CEO of Goldman Sachs, during an interview for an episode of “The David Rubenstein Show: Peer-to-Peer Conversations” in New York on Aug. 6, 2024. Jeenah Moon | Bloomberg | Getty Images Goldman Sachs will post a roughly $400 million pretax hit to third-quarter results as the bank continues to unwind its ill-fated consumer […]
Read More
JPMorgan Chase is giving its employees an AI assistant powered by ChatGPT maker OpenAI
Key Points JPMorgan Chase has rolled out a generative AI assistant to tens of thousands of its employees, the initial phase of a broader plan to inject the technology throughout the bank. The program, called LLM Suite, is already helping more than 60,000 employees with tasks like writing emails and reports. The software is expected […]
Read More
Jamie Dimon says he still sees a recession on the horizon
Key Points JPMorgan Chase CEO Jamie Dimon said Wednesday he still believes that the odds of a “soft landing” for the economy are around 35% to 40%, making recession the most likely scenario in his mind. When asked by CNBC’s Leslie Picker if he had changed his view from earlier this year that markets were […]
Read More
JPMorgan and Morgan Stanley enhance buybacks and dividends, even though Citigroup and BofA get more compact techniques
Important Points JPMorgan claimed it was increasing its quarterly dividend 8.7% to $1.25 for every share and that it approved a new $30 billion share repurchase plan. Morgan Stanley mentioned it was boosting its dividend 8.8% to 92.5 cents per share and authorized a $20 billion repurchase system. Citigroup said it was boosting its dividend […]
Read More
Regulators hit Citigroup, JPMorgan Chase, Goldman Sachs and Bank of America over living will plans
Jane Fraser, CEO of Citigroup, testifies during the Senate Banking, Housing, and Urban Affairs Committee hearing titled Annual Oversight of the Nations Largest Banks, in Hart Building on Thursday, September 22, 2022. Tom Williams | CQ-Roll Call, Inc. | Getty Images Banking regulators on Friday disclosed that they found weaknesses in the resolution plans of […]
Read More
Nearly $109 million in deposits held for fintech Yotta’s consumers vanished in Synapse collapse, bank suggests
Essential Details Ledgers of the failed fintech middleman Synapse display that approximately all the deposits held for buyers of the banking application Yotta went lacking weeks ago, in accordance to one particular of the creditors concerned. A community of eight banking institutions held $109 million in deposits for Yotta buyers as of April 11, Evolve […]
Read More
Synapse bankruptcy trustee says $85 million of customer savings is missing in fintech meltdown
Jelena McWilliams, chair of the Federal Deposit Insurance Corporation (FDIC), during a Senate Banking, Housing, and Urban Affairs Committee hearing in Washington, D.C., U.S., on Tuesday, Aug. 3, 2021. Al Drago | Bloomberg | Getty Images There is an $85 million shortfall between what partner banks of fintech middleman Synapse are holding and what depositors […]
Read More
Bank of America CEO says U.S. consumers and businesses have turned cautious on spending
Bank of America Chairman and CEO Brian Thomas Moynihan speaks during the U.S. Senate Banking, Housing and Urban Affairs Committee oversight hearing on Wall Street firms, on Capitol Hill in Washington, U.S., December 6, 2023. Evelyn Hockstein | Reuters U.S. consumers and businesses alike have turned cautious about spending this year because of elevated inflation […]
Read More
Jamie Dimon says JPMorgan stock is too expensive: ‘We’re not going to buy back a lot’
Jamie Dimon thinks shares of JPMorgan Chase are expensive. That was the message the bank’s longtime CEO gave analysts Monday during JPMorgan’s annual investor meeting. When pressed about the timing of a potential boost to the bank’s share repurchase program, Dimon didn’t mince words. “I want to make it really clear, OK? We’re not going […]
Read More
JPMorgan CEO Jamie Dimon signals retirement is closer than ever
Jamie Dimon, chief executive officer of JPMorgan Chase & Co., at the UK Global Investment Summit at Hampton Court Palace in London, UK, on Monday, Nov. 27, 2023. Bloomberg | Bloomberg | Getty Images Jamie Dimon’s days as CEO of JPMorgan Chase are numbered — though its unclear by how much. In a response to […]
Read More