’Banking crisis not over,’ JPMorgan CEO on possibility of ’2008’ like recession
1 year, 8 months ago

’Banking crisis not over,’ JPMorgan CEO on possibility of ’2008’ like recession

Live Mint  

In a recent letter to shareholders, JPMorgan Chase & Co CEO Jamie Dimon expressed his concerns about the ongoing U.S. banking crisis and its potential long-term effects. "The current crisis is not yet over, and even when it is behind us, there will be repercussions from it for years to come," Dimon wrote Storm clouds are still threatening the economy as they did a year ago, he added. The risks that led to the current crisis were "hiding in plain sight," Dimon wrote, citing the interest rate exposure and level of uninsured deposits at Silicon Valley Bank. While the 2008 crash hit large banks, mortgage lenders and insurers with global interconnections, "this current banking crisis involves far fewer financial players and fewer issues that need to be resolved," Dimon said.

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JPMorgan CEO Jamie Dimon breaks silence on Trump win and issues message about cabinet role
1 month, 2 weeks ago

JPMorgan CEO Jamie Dimon breaks silence on Trump win and issues message about cabinet role

Daily Mail  

JPMorgan Chase CEO Jamie Dimon broke his silence today over Donald Trump's US presidential election win. JPMorgan Chase CEO Jamie Dimon congratulated Donald Trump for defeating Kamala Harris in the US presidential election In the statement from JPMorgan Chase on Wednesday, executives from the bank referenced a message from Dimon as polls closed on Tuesday night. Dimon privately backed Harris …

Coffee, sculptures and financial advice. Banks try to make new branches less intimidating
6 months, 2 weeks ago

Coffee, sculptures and financial advice. Banks try to make new branches less intimidating

Associated Press  

NEW YORK — It’s like Sephora or Starbucks now offered a checking account. After years of closing or mostly neglecting physical bank branches across the U.S., the nation’s largest banks are spending hundreds of millions of dollars on refurbishing old locations or building new ones, and in the process changing the look, feel and purpose of the local bank branch. …

JPMorgan CEO Jamie Dimon issues ominous warning about US economy
7 months ago

JPMorgan CEO Jamie Dimon issues ominous warning about US economy

Daily Mail  

Jamie Dimon - head of the world's biggest bank JPMorgan Chase - has said that he cannot rule out a 'hard landing' for the US economy. Dimon's warning comes after an analyst who works for him at JPMorgan warned the stock market could soon become volatile - despite reaching record highs this year. Dimon's comments come after JPMorgan's chief market …

JPMorgan’s Dimon warns inflation, political polarization and wars are creating risks not seen since WWII
8 months, 2 weeks ago

JPMorgan’s Dimon warns inflation, political polarization and wars are creating risks not seen since WWII

Associated Press  

NEW YORK — The nation’s most influential banker, JPMorgan Chase CEO Jamie Dimon, told investors Monday that he continues to expect the U.S. economy to be resilient and grow this year. But he worries geopolitical events including the war in Ukraine and the Israel-Hamas war, as well as U.S. political polarization, might be creating an environment that “may very well …

Big bank CEOs warn that new regulations may severely impact economy
1 year ago

Big bank CEOs warn that new regulations may severely impact economy

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. The CEOs of JPMorgan Chase, …

JPMorgan CEO Jamie Dimon warns interest rates could soar to SEVEN percent - their highest level since 1990 - after claiming world economy is 'not prepared' for further hikes
1 year, 2 months ago

JPMorgan CEO Jamie Dimon warns interest rates could soar to SEVEN percent - their highest level since 1990 - after claiming world economy is 'not prepared' for further hikes

Daily Mail  

JPMorgan Chase CEO Jamie Dimon has warned Americans could soon be facing 7 percent interest rates - the highest level since 1990. JPMorgan Chase CEO Jamie Dimon, pictured, has warned Americans could soon be facing 7 percent interest rates - the highest level since 1990 The stark warning is at odds with most analysts' predictions that the Federal Reserve will …

Jamie Dimon warns of a commercial real estate downturn
1 year, 7 months ago

Jamie Dimon warns of a commercial real estate downturn

CNN  

A version of this story first appeared in CNN Business’ Before the Bell newsletter. New York CNN — Economists are concerned about the $20 trillion commercial real estate industry and so is JPMorgan Chase CEO Jamie Dimon. The regional banking crisis is having a knock-on effect on commercial real estate lending, Dimon warned at his company’s shareholder meeting on Monday. …

The banking crisis isn’t over. But how bad will it get?
1 year, 7 months ago

The banking crisis isn’t over. But how bad will it get?

Associated Press  

NEW YORK — Uncertainty continues to pummel the banking industry, despite assurances from financial regulators and bankers such as Jamie Dimon this week that the worst of the recent crisis is over and the health of the banking system remains strong. A renewed sell-off Thursday focused on PacWest Bancorp and Western Alliance Bancorp, two smaller regional banks whose shares have …

Profits at big US banks show few signs of industry distress
1 year, 8 months ago

Profits at big US banks show few signs of industry distress

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Despite a pair of historical …

JPMorgan Chase profits jump 52% amid banking turmoil
1 year, 8 months ago

JPMorgan Chase profits jump 52% amid banking turmoil

Associated Press  

JPMorgan Chase & Co. posted a 52% jump in its first-quarter profits, helped by higher interest rates, which allowed the bank to charge customers more for loans. The bank saw deposits grow noticeably, as business and customers flocked to the banking titan after the failure of Silicon Valley Bank and Signature Bank last month. In a call with reporters, JPMorgan …

TIMELINE: Know all about the global banking crisis in 10 points
1 year, 8 months ago

TIMELINE: Know all about the global banking crisis in 10 points

Firstpost  

New Delhi: In mere 10 days, banks and financial institutions across the globe went through a massive negative transition due to the global banking crisis which is considered to be the biggest since 2008. Here’s global banking crisis in 10 points: Timeline of global banking crisis: 1 - Silvergate Capital Corp, a crypto-friendly bank, on 8 March said it would …

Which will be the next bank to fail? The man who predicted the 2008 Lehman Brothers collapse has the answer
1 year, 9 months ago

Which will be the next bank to fail? The man who predicted the 2008 Lehman Brothers collapse has the answer

Firstpost  

After the collapse of Silicon Valley Bank and Signature Bank of the United States last week, another bank is expected to encounter a stroke of bad luck. Finance expert Robert Kiyosaki, who co-authored the bestselling book Rich Dad Poor Dad, has predicted that Zurich-based investment bank Credit Suisse will be the next to fail due to trouble in the bond …

US staring at Lehman redux? Silicon Valley Bank’s swoon may be recession signal
1 year, 9 months ago

US staring at Lehman redux? Silicon Valley Bank’s swoon may be recession signal

Live Mint  

It was a bad day for the banking industry Thursday. The biggest loser in that index was SVB Financial Group, the parent of Silicon Valley Bank, which plunged 60%. Silicon Valley Bank’s parent surprised the market late Wednesday by saying it had sold about $21 billion of securities from its portfolio, which will result in an after-tax loss of $1.8 …

Bank CEOs increasingly turning pessimistic on economy
2 years, 2 months ago

Bank CEOs increasingly turning pessimistic on economy

Associated Press  

NEW YORK — The outlook for the U.S. economy from Wall Street’s biggest banks is getting gloomier, with many top executives saying they’re preparing for a potential downturn or a recession. Following the short but potent pandemic recession in 2020, many bank CEOs have spent the past year and a half trumpeting the strength of the U.S. economy and the …

JPMorgan CEO Dimon warns of recession in 6 to 9 months - Report
2 years, 2 months ago

JPMorgan CEO Dimon warns of recession in 6 to 9 months - Report

Live Mint  

JPMorgan Chase & Co Chief Executive Jamie Dimon said the United States and the global economy could tip into a recession by the middle of the next year, CNBC reported on Monday. "These are very, very serious things which I think are likely to push the U.S. and the world — I mean, Europe is already in recession — and …

Wall Street CEOs cautious about path of US economy
2 years, 3 months ago

Wall Street CEOs cautious about path of US economy

Live Mint  

WASHINGTON : The heads of the largest U.S. banks expressed concerns about the state of the U.S. economy, warning about the risks of high inflation and rising interest rates. Facing questions from House lawmakers on Wednesday, bank chief executives, including JPMorgan Chase & Co.’s Jamie Dimon and Citigroup Inc.’s Jane Fraser, offered a favorable picture of an industry they say …

JPMorgan Chase CEO Jamie Dimon still nervous about US economic recovery
3 years, 11 months ago

JPMorgan Chase CEO Jamie Dimon still nervous about US economic recovery

CNN  

New York CNN Business — The economy may not have fully recovered yet, but that’s no problem for America’s biggest bank. JPMorgan Chase reported a record profit of $12.1 billion for the fourth quarter Friday — easily topping Wall Street’s forecasts. But JPMorgan Chase CEO Jamie Dimon still sounded a bit nervous about the near-term economic outlook, citing the lingering …

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