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Banking

“JPMorgan Chase raises key revenue target to $84 billion after First Republic takeover”

“JPMorgan Chase raised a key performance target on the heels of its government-brokered takeover of First Republic earlier this month. The bank will generate about $84 billion in net interest income this year, New York-based JPMorgan said Monday in slides… Continue Reading…

Banking, Stocks

“JPMorgan’s Kolanovic Sees Stock Selloff as US Debt Talks Drag On”

“…The strategist reiterated a call to remain underweight both US and European stocks as X-date approaches, with a potential political standoff on a resolution exacerbating the already present threat of a recession — particularly if 2011’s debt event is any… Continue Reading…

Banking, Economy

“JPMorgan Chase takes over First Republic after U.S. seizure of ailing bank”

“Regulators took possession of First Republic on Monday, resulting in the third failure of an American bank since March, after a last-ditch effort to persuade rival lenders to keep the ailing bank afloat failed. JPMorgan Chase , already the largest… Continue Reading…

Banking

“Frank founder criminally charged with fraud over $175 million JPMorgan deal”

“The Justice Department on Tuesday criminally charged Charlie Javice, founder of college financial planning platform Frank, with defrauding JPMorgan Chase out of $175 million.  Javice, 31, is accused of “falsely and dramatically” inflating the number of customers Frank actually had… Continue Reading…

Energy

“GE stock has skyrocketed 80% in 5 months — JPMorgan says that’s a problem”

“…”While we see an excellent business in aerospace and potential in Vernova, GE is up ~80% over the past five months vs. 13% for the S&P 500,” JPMorgan analyst Seth Siefman wrote in a client note on Tuesday ahead of… Continue Reading…

Stocks

“Current stock market rally ‘likely to mark the high point’ for 2023: JPMorgan”

“…The strong rally across the major indices so far this year has surprised many market watchers, especially given that the Federal Reserve is hot off another interest rate hike as it continues to try and combat nagging inflation. Several Fed… Continue Reading…

Economy

“Jamie Dimon says ‘brace yourself’ for an economic hurricane caused by the Fed and Ukraine war”

“JPMorgan Chase CEO Jamie Dimon says he is preparing the biggest U.S. bank for an economic hurricane on the horizon and advised investors to do the same… “You’d better brace yourself,” Dimon told the roomful of analysts and investors. “JPMorgan is bracing ourselves… Continue Reading…

Banking, Business

“JPMorgan is suing Tesla over Elon Musk’s tweets”

“…According to the complaint filed in Manhattan federal court, Tesla in 2014 sold warrants to JPMorgan that would pay off if their “strike price” were below Tesla’s share price upon the warrants’ expiration in June and July 2021. JPMorgan (JPM), which… Continue Reading…

Precious Metals

“JPMorgan Accused of Manipulating Silver Prices in Florida Lawsuit”

“EDITOR NOTE: Reuters reports that Hidalgo Mining Corp, a Florida-based silver mining company, filed a lawsuit against JPMorgan. The claim accuses the bank of “manipulating the silver market to push prices so low the company’s mine had to close.” The… Continue Reading…

Banking, Cryptocurrencies

“Bitcoin could rise 10 times in price but I just don’t care, says JPMorgan CEO”

“JPMorgan CEO Jamie Dimon said that Bitcoin may rise 10 times in price in the next five years. The long-term Bitcoin critic also warned that it would be foolhardy to borrow money to buy Bitcoin. Recently, the bank moved to… Continue Reading…