JPMorgan Chase is exploring plans to offer loans backed by clients’ cryptocurrency holdings, including bitcoin and ethereum, as early as 2026, the Financial Times reported, citing sources familiar with the matter. The move signals a dramatic shift for the banking giant, whose CEO Jamie Dimon has long expressed skepticism toward digital assets. It also comes…
JPMorgan Chase CEO Jamie Dimon appeared to be delivering a message to Donald Trump regarding the US President’s pressure campaign on the Federal Reserve, defending the central bank’s independence and cautioning against policy interference.“The independence of the Fed is absolutely critical,” Dimon said on the bank’s second-quarter earnings call, “and not just for the current…
JPMorgan Chase reported a second-quarter net profit of $14.2 billion on Tuesday, down from $18.3 billion a year ago, but ahead of Wall Street expectations. The bank posted adjusted earnings of $4.96 per share, surpassing analysts’ forecast of $4.48, although lower than the $6.12 per share it earned in Q2 2024.Total managed revenue stood at…
Wall Street billionaires are not used to being on the outside looking in. But that is where they find themselves after President Trump ignored their appeals to call off his tariff plans which they fear could endanger the economy. With the backdrop of rapidly mounting stock market losses, corporate titans have worked every angle —…
After three days of global market turmoil not seen since the early days of the Covid-19 pandemic, stocks in Asia regained a measure of calm on Tuesday despite little let up in the escalating trade tensions caused by President Trump’s tariffs. Before markets opened in China, the government unleashed a series of measures to stabilize…
President Trump’s wave of tariffs threatens to bring both short-term economic pain, including lower growth, and long-term damage to America’s standing and trade relationships around the world, the chief executive of Wall Street’s biggest bank warned on Monday. “The recent tariffs will likely increase inflation and are causing many to consider a greater probability of…
There was little rest on Wall Street this weekend. There was plenty of anger, anxiety, frustration, and fear. Anger at President Trump for a brash and chaotic rollout of tariffs that erased trillions of dollars in value from the stock market in two days. Anxiety about the state of the private equity industry and other…
The cloud behind the inflation silver lining Even upbeat economic news can offer little comfort to markets and the C-suite. Stocks look set to open lower as relief over Wednesday’s better-than-expected inflation report fades, and concerns grow that a trade war could sap consumer spending and corporate profits. That’s led more corporate chiefs to speak…
The slow-moving race to succeed Jamie Dimon at the helm of JPMorgan Chase has lost another entrant. The bank said on Tuesday that Jennifer Piepszak a longtime investment banker, would become chief operating officer this summer, succeeding Daniel Pinto, who is planning to retire. After the announcement, a bank spokesman said that Ms. Piepszak, 54,…