Hedge funds ramp up market bets as volatility brings the asset class back into favor

Traders work on the floor of the New York Stock Exchange on September 21, 2022 in New York City. Michael M. Santiago | Getty Images The extreme market volatility is not causing hedge funds to back down. Hedge funds’ total gross trading flow, including both long and short bets, rose for five weeks in a … Read more

Why Jamie Dimon apologized to Elizabeth Warren

new York CNN Business — JPMorgan Chase CEO Jamie Dimon testified on Capitol Hill Thursday for the second straight day. This time, he faced his longtime critic Sen. Elizabeth Warren. Warren began her line of questioning by asking how many instances of fraud had been reported to his bank from customers using Zelle, a popular … Read more

JPMorgan picks stocks to benefit if the metaverse takes off in China

Some parts of China have officially promoted metaverse development plans. Pictured here is a metaverse exhibition area at an annual services trade expo in Beijing on Sept. 1, 2022. China News Service | China News Service | Getty Images BEIJING — When it comes to futuristic concepts like the metaverse, JPMorgan analysts think they’ve found … Read more

JPMorgan (JPM) fintech deal to acquire Renovite to battle Stripe and Block

The main entrance at JPMorgan’s headquarters in New York City. Erik McGregor | LightRocket | Getty Images JPMorgan Chase has agreed to acquire a payments startup called Renovite to fend off threats from fintech firms including Stripe and Block, CNBC has learned. The bank, a major player in the global payments arena, said that acquiring … Read more

JPMorgan forces sale of Russian oligarch’s megayacht

A $75-million superyacht linked to a sanctioned Russian steel billionaire was auctioned on Tuesday in Gibraltar, court sources said, in what is understood to be the first sale of its kind since Russia invaded Ukraine in February. The Axiom was impounded by the Gibraltar authorities in March after JPMorgan said its alleged owner Dmitry Pumpyansky … Read more

Tech companies, banks overstaffed while airlines, hotels need workers

JetBlue Airways passengers in a crowded terminal on April 7, 2022 in the Fort Lauderdale-Hollywood International Airport in Fort Lauderdale, Florida. Robert Nickelsberg | Getty Images News | Getty Images It wasn’t long ago that Amazon, Shopify and Peloton doubled their workforces to manage through the pandemic surge, while Morgan Stanley staffed up to handle … Read more

JPMorgan hires scientist Charles Lim to head quantum-computing unit

Dr. Charles Lim, Global Head of Quantum Communications and Cryptography, JP Morgan Chase Courtesy: JP Morgan Chase JPMorgan Chase has hired a Singapore-based quantum-computing expert to be the bank’s global head for quantum communications and cryptography, according to a memo obtained by CNBC. Charles Lim, an assistant professor at the National University of Singapore, will … Read more

Ukraine wants JPMorgan, Citi, HSBC prosecuted for war crimes: Zelenskyy aide

Ukrainian president Volodymyr Zelenskyy speaks during a joint press conference with President of Guatemala Alejandro Giammattei on July 25, 2022 in Kyiv, Ukraine. Alexey Furman | Getty Images Major US and European banks should be prosecuted for “committing war crimes” over their financing of trade with the Russian regime, according to a top aid to … Read more

Bank of America (BAC) 2Q 2022 earnings

Bank Of America CEO Brian Moynihan is interviewed by Jack Otter during “Barron’s Roundtable” at Fox Business Network Studios on January 09, 2020 in New York City. John Lamparski | Getty Images Bank of America on Monday posted mixed second-quarter results that included the benefit from rising interest rates and about $425 million in expenses … Read more

JPMorgan CEO Dimon sums up U.S. economy in one paragraph — and it sounds bad

Jamie Dimon, chief executive officer of JPMorgan Chase & Co. Christophe Morin | Bloomberg | Getty Images JPMorgan Chase CEO Jamie Dimon on Thursday summarized the state of the US economy in one paragraph, and it’s not all good. On the one hand, Dimon said the US “economy continues to grow and both the job … Read more