News about Jamie Dimon

Kamala Harris has lunch with JP Morgan chief Jamie Dimon: VP dines with finance exec who said Trump was 'right' about key issues and clashed with him as Attorney General

www.dailymail.co.uk, March 27, 2024
JPMorgan Chase chief executive Jamie Dimon had a one-on-one lunch at the White House last week with vice-president Kamala Harris, according to a report from the Financial Times.

America's paychecks are surging - but ONLY if you return to the office! Data shows companies are paying $22,000 more for in-office workers than 'hybrid' employees

www.dailymail.co.uk, March 25, 2024
US firms are paying a premium for employees who will work in the office full-time, new data shows. Research by ZipRecruiter found that the average salary for in-office workers has shot up 33 percent to $82,037 compared to last year. By comparison, the average wage of a 'hybrid' employee is just $59,992 - a difference of $22,000. Interestingly, the data shows that hybrid workers were penalized more than fully remote employees who earn $75,327 per year on average. The figures lay bare changing attitudes among employers since the pandemic normalized working from home.

So why are America's mega-rich including Jeff Bezos and Mark Zuckerberg off-loading billions of dollars in stock? In the midst of turbulent global geopolitics and elections, the super wealthy are in a competition to'sell high' and move funds away from the market

www.dailymail.co.uk, March 12, 2024
Despite the market still holding at an all time high rate, the mystery of the billions of dollars worth of stock sold by some of the world's richest people remained. The mass selling has sparked skepticism about a slowdown, but it could also be feared of a looming increase in taxes. President Joe Biden has promised a hike in taxes for the super wealthy if he wins reelection in November, putting the tech bubble under intense strain through 2023. In a tumultuous earnings speech in October, JPMorgan Chase CEO Jamie Dimon said, 'This could be the most volatile period the world has seen in decades.'

Do they know something we don't? The Walton family's billionaire, Jeff Bezos, Leon Black, Mark Zuckerberg, Jamie Dimon, and Walmart's Walton family all sold over $11 billion in stocks ahead of the looming election

www.dailymail.co.uk, March 10, 2024
This month alone, Jeff Bezos, the third richest man behind Louis Vuitton's Bernard Arnaut and Elon Musk, unloaded $8.5 billion in Amazon shares. Mark Zuckerberg, the fourth richest person on record, sold 1.4 million Meta shares worth $638 million. JPMorgan chairman Jamie Dimon and CEO shilled $150 million this week in his first cash-out since taking the bank's reins almost two decades ago. Leon Black, the founder of Apollo Global Management, conducted his first-ever auction within days, securing $172.8 million in his equity company after 34 years. In a week, Walmart's Walton family made $1.5 billion, the highest sales proceeds since December.

'The focus should be on getting jobs:' JPMorgan CEO Jamie Dimon says colleges should be measured by whether students get well-paid jobs when they graduate

www.dailymail.co.uk, March 4, 2024
The Wall Street told WISH-TV, 'Too much attention in education has been on graduating college.' "It should be on jobs," says the boss. I think the schools should be measured on, did the kids get out and get a good job?' Dimon, 67, went on to state that teenagers can get good-paying jobs without a college education by embarkinging on careers that do not require a university degree. As a 17-year-old,' the Harvard graduate said, you could have a bank teller and make $40,000-a-year as a 17-year-old.' Also, if you have a family at 18 or something, your family will get $20,000 in medical assistance.' You can be a welder, you can be a programmer, you could be a coder, or you can be a cyber, and all of those professions can be paid $40,000 to $70,000 a year.'

Despite the bank cutting 20,000 jobs and announcing a $1.8 billion loss last year, Citigroup CEO's salary has increased by 6% to $26 million (and her raise is even larger than Jamie Dimon's! (The original text was in the United States.)

www.dailymail.co.uk, February 21, 2024
Despite the bank slashing 20,000 employees and declaring a $1.8 billion loss last year, Citigroup CEO Jane Fraser has received a 6 percent wage increase to $26 million. Fraser's salary increase was a larger percentage increase than the one given to JPMorgan Chase CEO Jamie Dimon, whose company made the most annual revenue in the history of US banking last year. Dimon's salary climbed by 4.5 percent to $36 million, while Goldman Sachs CEO David Solomon was awarded a 24 percent raise to $31 million. According to a report to the Compensation Committee, Fraser's bumper pay packet was made up of a base salary of $1.5 million, cash appreciation of $3.7 million, and $20.8 million in deferred performance-linked stock.

After profits at the bank fell 24%, Goldman Sachs CEO David Solomon receives 34% compensation to $31 million

www.dailymail.co.uk, February 17, 2024
In a filing filed on Friday, Goldman Sachs CEO David Solomon was awarded $31 million in compensation for 2023, up 24 percent from the $25 million he earned in 2022. The bank's profit increased by 24% to $8.52 billion in 2023, a year where Goldman moved from an ill-fated foray to consumer banking. Nonetheless, Goldman Sachs' shares increased by 12 percent year on the year to close 2023, as the company's modernized strategy and the possibility of lower interest rates attracted investors.

Nicholas O'Kane, the CEO of Macquarie Bank, has astonish wealth when he resigns

www.dailymail.co.uk, February 14, 2024
Mr O'Kane has been earning the attention of the company's executive committee for the past six years, earning the company's nickname,'millionaires' factory,' in 2017. He's been with Macquarie since 1995 and earned $57.6 million in the bank's 2023 financial year. His pay packet exceeded that of Macquarie Bank CEO Shemara Wikramanayake, whose total 'award remuneration' for 2023 was just $32.8 million by comparison. Despite Mr O'Kane's remarkable fortune, he has remained relatively out of the public eye, with several people surprised about his sudden departure from Macquarie, which was revealed on Tuesday.

America's savings rate is a disappointment: Last year, three major banks earned $200 billion in loans after raising 0.01 percent yields for savers

www.dailymail.co.uk, February 3, 2024
Last year, America's three most popular banks saw a dramatic jump in yields from higher interest rates but failed to focus on safer yields to savers. The Federal Reserve's steadfast tightening cycle has raised interest rates to a 22-year high, boosting the amount JPMorgan Chase, Bank of America (BofA) and Wells Fargo can charge on loans to customers. However, DailyMail.com's review shows that both three groups have failed to raise the annual percentage yield (APY) on their basic savings accounts from 0.01 percent. Mortgage loans in comparison are usually priced between 5 and 7 percent. A slew of smaller account providers have smuggled the firms by offering yields as high as 5 percent to their savers.

In his final forecast before his retirement, renowned financial analyst Richard X. Bove expects the US economy's fall and estimates that China will take over as the money superpower takes over.'

www.dailymail.co.uk, January 29, 2024
Despite the demise of Chinese property behemoth Evergrande and recent US inflation, the recently retired banking oracle delivered the optimistic forecast. Before retiring from boutique brokerage Odeon Capital, Bove worked at 17 brokerage companies for decades, and he's no stranger to the spotlight or making bets that go against the grain.

Marianne Lake, a British woman, has been nominated for top of JP Morgan

www.dailymail.co.uk, January 26, 2024
Following a reshuffle, single mother Marianne Lake, 54, who grew up in the United Kingdom, is highly recommended to take on the world's top banking job. Jamie Dimon, the JP Morgan CEO, handed over her new responsibilities overnight, giving her sole custody of the customer and community bank. The promotion gives her control of a sprawling unit that would be the sixth-largest US bank by assets.

Last year, JP Morgan boss Jamie Dimon saw his pay climb by 4%

www.dailymail.co.uk, January 19, 2024
The 'King of Wall Street' - the United States banker', received his first paycheck since taking over the bank's reign nearly 20 years ago. Forbes estimates that he has a £1.5 billion fortune. Dimon, 67, has been at the top of the corporation since December 2005. The bank said the increase in remuneration, which came from $27.2 million in 2022, was a reward for Dimon's outstanding service.

Jamie Dimon, the CEO of JPMorgan Chase, gets a huge raise from $34.5 million to $36 million, after the bank's sales rose to a new high

www.dailymail.co.uk, January 19, 2024
Jamie Dimon, the CEO of JPMorgan Chase, received a pay raise last year, with his total compensation up 4.3 percent to $36 million, the bank revealed on Thursday. Last year, the country's biggest bank earned its highest annual income in 42 years, up 32 percent from 2022 and more than any lender in the United States. According to a regulatory filing, Dimon's 2023 pay package includes a base salary of $1.5 million and a $34.5 million performance incentive equaling $5 million in cash and $29.5 million in stocks.

ALEX BRUMMER: Fintech picks up the slack as grocers shelve their banking divisions

www.dailymail.co.uk, January 18, 2024
Sainsbury's decision to abandon banking is indicative of the competition retailers have faced in transferring their skills to finance. In the 1990s, major shopping issues were determined that what banks needed was customer education. It seemed as if the oligopoly of high street banking would be challenged.

As the world braces for Trump's re-run, AI fake news worries sends chilling through Davos

www.dailymail.co.uk, January 18, 2024
This week, the Swiss mountain resort, which each winter hosts global celebrities at the World Economic Forum, has been dominated by AI's promise and dangers. Many are hoping that this will be a golden age of life-saving scientific advances, not to mention higher profits. However, as billions of people's vote loom, a fear that its ability will cause chaos has arisen.

Jamie Dimon of JPMorgan has said that a 'negative talk about MAGA' will affect Biden

www.dailymail.co.uk, January 18, 2024
Jamie Dimon, the CEO of JPMorgan, warned that negative talk about Trump supporters could jeopardize President Joe Biden's re-election.

Jamie Dimon, JPMorgan's CEO and major Democratic donor, warns that 'negative talk about MAGA' will hurt Biden's campaign and confirms Trump was 'right about NATO, migrant China, and the Chinese economy, which has grown the economy quite well.'

www.dailymail.co.uk, January 17, 2024
Jamie Dimon, the JPMorgan CEO, warned that negative feedback about Trump supporters could jeopardize President Joe Biden's re-election bid. He has warned Americans that this year will be a downturn, and that the economy and how people treat each other will influence the result. People are voting for Trump because he was correct about the economy, migrant, and China, according to Dimon, a regular Democrat donor.

Zelensky of Ukraine meets with JPMorgan's Dimon in Davos on another day of international assistance - the day after requesting Switzerland to broker 'high-level peace talks'

www.dailymail.co.uk, January 16, 2024
As he shook hands with the Ukrainian president ahead of a sit-down with Wall Street financiers at the World Economic Forum in Switzerland, Jamie Dimon of JPMorgan said, 'God bless you.' It came as a result of continued outrage in Washington over a proposed $61 billion package of military and financial aid, and a day after Zelensky requested that his Swiss hosts host a 'high-level peace conference' in the midst of the continuing war against Russia, it was announced. As Zelensky emerged from the meeting, he tweeted, 'Attracting private capital to reconstruct Ukraine is vital to us.' "We're hoping that JP Morgan will help attract a substantial number of foreign investors and corporations to the Ukrainian economy.'

Alright for some! Just days after gloomy CEO Jamie Dimon warned Americans to brace for a slowdown, JPMorgan Chase rakes in the highest annual income for a US bank

www.dailymail.co.uk, January 12, 2024
Last year, JPMorgan Chase made the most annual income in the United States banking industry, just days after CEO Jamie Dimon warned Americans that they should brace for a slowdown. Despite profits falling by 15 percent in the fourth quarter, earnings released today show that the company made $49.55 billion in 2023. In 2021, it surpassed the bank's previous record of $48.3 billion made. JPMorgan was remarkably profitable during the banking crisis last March, which was triggered by the downfall of Silicon Valley Bank (SVB), which sent customers running to so-called 'too big to fail' companies. Bank profits have also been bolstered by higher interest rates, which have made it possible to charge borrowers more for loans.

Airlines are expected to raise ticket prices by 5 percent in December as Goldman predicts an increase in inflation

www.dailymail.co.uk, January 11, 2024
Analysts at Goldman Sachs warn that their airline staff has seen a'meaningful rise' in real time price increases ahead of the upcoming inflation estimates, which are set to be released on Thursday. Overall, CPI inflation is expected to have risen to 3.2 percent in December, up from 3.2 percent in November. However, forecasters predict that airline ticket prices have risen by 5 percent. The predictions of sky high airfare inflation came just days after a panel blew out of a Boeing jet on an Alaska Airlines flight, which was 16,000 feet over Oregon (left).

According to ALEX BRUMMER, Davos loses its leadership as the world's top politicians leave it behind

www.dailymail.co.uk, January 10, 2024
The Davos are upon us, with the World Economic Forum (WEF) predicting that misinformation and disinformation are the biggest threats to the global landscape ahead of the gathering of the young and great in the Swiss Alps next week. The WEF is concerned that a combination of AI, defayed facts, and a year of elections, including those in the United States and Britain, could jeopardize societal stability.

JPMorgan CEO Jamie Dimon tells Americans it's back to the 1970s!Wall Street Doomsayer warns high inflation reminds him of dire economy five decades ago

www.dailymail.co.uk, January 10, 2024
Jamie Dimon, the CEO of JPMorgan Chase, has urged Americans to prepare for a return to the 1970s, which has seen record inflation, high unemployment, and a string of energy crises in the United States. Dimon said rising prices, stagnant growth, and significant government spending were among the causes linking the 2020s to the 1970s, echoing remarks made by other economists. The outspoken executive, who is often seen as a cautionary tale on Wall Street, has cautioned that expected interest rate cuts this year are not guaranteed, and that a slowdown is likely. When asked by Fox Business Network's Maria Bartiromo whether households could predict interest rates to decrease three times this year, she said: "I'm a skeptic." I believe due to fiscal constraints and other causes.

The future of the United Kingdom is promising, as anti-Brexit companies such as Nissan 'just get on with it.'

www.dailymail.co.uk, January 6, 2024
Andy Haldane, the Bank of England's former chief economist, is'very, very optimistic' about the country's future as major companies such as Nissan shrug off the challenges of leaving the European Union and invest billions in the region. Haldane cautioned that higher interest rates are starting to have a toll on the economy as mortgage bills rise dramatically and savings are quickly being used up. However, he claims that the 'dynamism and energy' of several major corporations are giving real hope.

RUTH SUNDERLAND: New Year brings new bosses

www.dailymail.co.uk, December 29, 2023
Anyone who is concerned about the effect that a new leader might have on a company needs to look no further than Rolls-Royce. On New Year's Day 2023, Tufan Erginbilgic took over as the company's chief executive. He has argued that he will do well where his predecessors did not succeed and make Rolls great again in the 12 months that followed. Stuart Machin and Archie Norman, the chief executive and chairman respectively, seem to have initiated a genuine change at M&S, another famous British name, after two decades of false dawns.