JPMorgan Chase CEO Jamie Dimon expressed frustration at the U.S. federal government during the company’s earnings conference call Friday. “It’s almost an embarrassment being an American citizen traveling around the world and listening to the stupid s— we have to deal with in this country,” Dimon said in response to an analyst question. “Since the […]
Read moreJPMorgan Chase CEO Jamie Dimon had some critical words Friday for reporters overly scrutinizing the bank’s second-quarter report. “Who cares about fixed income trading in the last two weeks of June? I mean seriously?” the bank executive said on a call with journalists following the firm’s second quarter earnings report. “That is the weather. It […]
Read moreUber’s rival in Southeast Asia could be getting a huge influx of money from some powerful investors. Softbank is considering investing in Singapore-based ride-hailing company Grab, according to outlets like The Wall Street Journal and Bloomberg. Grab could be raising between $1.5 billion to $2 billion, various reports have estimated. Chinese ride-hailing giant Didi Chuxing […]
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PILOTS are taught that a too-hard landing is better than a too-soft one. A plane can absorb more shocks than one might think, but a runway is only so long. But when it comes to Brexit Britain’s government seems to differ. And as the deadline for Britain’s secession from the European Union approaches, the spectre […]
Read moreAnother member of Congress is urging fellow lawmakers to take a closer look at Amazon and its $14 billion bid to buy Whole Foods. As the Trump administration prepares to review the merger, the top Democrat on the House’s leading competition committee is pushing for a hearing, arguing that Amazon’s newest gambit in the grocery […]
Read more“You sound cute, got a picture?” “Nicole, your [sic] beautiful, are you single?” “I love you, Jen.” Those may sound like messages from a dating app, but they’re actually real emails people have sent to customer service representatives at places like car dealerships, insurance companies and education firms. The problem: Those customer service reps aren’t […]
Read moreShares in US-listed steel companies rose sharply late on Thursday after Donald Trump accused China of dumping cheap steel in the American market and was considering imposing both tariffs and quotas on imports. The rally was part of a longer-run increase for the industry, which has been awaiting a US Department of Commerce report that […]
Read moreBanks are beginning to report earnings. All four banks reporting (JP Morgan, Citigroup, Wells Fargo, and PNC) beat earnings expectations and all but Wells Fargo beat on the topline. So why are they all trading down Friday? There’s two issues: fundamental and seasonal. First, the soft economic data we saw Friday — retail sales, but […]
Read moreFlat consumer inflation and a surprise drop in June retail sales triggered new doubts that the Federal Reserve will be able to raise interest rates again this year. “This is a game change for market expectations. Now it’s when does the Fed respond and what does transitory really mean,” said Ian Lyngen, head of U.S. […]
Read moreBillionaire Steve Ballmer said Friday that government data show it’s not clear whether tax policy will have an impact on business investment. Ballmer, founder of a nonpartisan database for government statistics, told CNBC’s “Squawk Box” that his USAFacts group looked at capital investment and research and development. “No matter what tax policy we’ve seen, it […]
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