Jamie Dimon, the veteran CEO and chairman of JPMorgan Chase, will be removed over his bank’s ties to disgraced former financier Jeffrey Epstein, according to a person with knowledge of the matter. Dimon has agreed to be questioned under oath, at an unspecified date in the future, for two civil lawsuits related to convicted sex … Read more
22 minutes ago Pending home sales data set for release Wednesday after opening The latest pending data on home sales is expected to be released Wednesday after the open. Economists polled by Dow Jones forecast a 3% drop in February, compared to an 8.1% rise the previous month. —Sarah Min 25 minutes ago Lululemon shares … Read more
Micron Technology headquarters in Boise, Idaho on March 28, 2021. Jeremy Erickson | Bloomberg | Getty Images Check out the companies making headlines on Tuesday at noon. PagSeguro – Shares jumped 5.3% after Citi upgraded Brazilian payment stock to buy from neutral. The company called the company’s fourth quarter results unsurprising and said it was … Read more
An hour ago Japan and the United States announce trade agreement on electric vehicle battery minerals The United States and Japan have announced an electric vehicle battery minerals trade deal that would give Japanese automakers access to the Biden administration’s $7,500 electric vehicle tax credit program in under the Inflation Reduction Act. The announcement added … Read more
Bloomberg News reported on Saturday that U.S. officials are considering expanding federal programs that provide banks with liquidity, in part to help the First Republic while it searches for a buyer. CNBC reported on Saturday that deposit inflows to big banks from smaller regions have slowed significantly. Regional bank stocks have come under significant pressure … Read more
33 minutes ago CNBC Pro: Here’s how to spot a good growth stock, according to a fund manager “As a growth manager… how do you identify good growth companies?” Fund manager Ian Mortimer told CNBC Pro Talks on Wednesday as he shared his strategy for spotting outperforming stocks. Mortimer manages the growth and innovation-focused Guinness … Read more
28 minutes ago Outflow of deposits from smaller banks has slowed, sources say The movement of deposits from smaller banks to giants like JPMorgan Chase and Wells Fargo has slowed in recent days, sources told CNBC. Customers grew increasingly nervous after the shutdown of Silicon Valley Bank sparked a crisis in the banking industry. While … Read more
The surge in deposits moving from small banks to large institutions, including JPMorgan Chase and Wells Fargo, has slowed to a trickle in recent days, CNBC has learned. Deposit flight, which has rocked global markets and forced regulators to intervene to protect bank customers, began to improve around March 16, people with knowledge of the … Read more
Square Inc. Chief Executive Jack Dorsey, second from right, visits the floor of the New York Stock Exchange (NYSE) in New York, U.S., Thursday, Nov. 19, 2015. Yana Paskova | Bloomberg | Getty Images Find out which companies are making headlines in the midday business. Block — Shares lost nearly 3%, after losing nearly 15% … Read more
5 hours ago Treasury Secretary Yellen says emergency actions to support banks could be used again if needed Treasury Secretary Janet Yellen said Thursday that federal emergency measures used to support customers of Silicon Valley Bank and Signature Bank could be used again if needed. “We used important tools to act quickly to prevent contagion. … Read more
