JPMorgan

AI roundup: Nothing, a London-based startup is eyeing AI-powered devices and it may focus on India as a key market. The company is now launching Nothing Phone 2a and working on the Nothing Phone 3 device. Ahead of the US presidential election in November, Donald Trump's supporters are creating fake AI images of him with black voters. Know more about what is happening in the world of AI today.Nothing is planning to develop AI-powered devices with expansion in IndiaIn recent news, the smartphone brand Nothing has shifted…

Pedestrians pass a JPMorgan Chase bank branch in New York.Michael Nagle | Bloomberg | Getty ImagesThe three biggest American retail banks collected 25% less overdraft revenue last year as the companies, under pressure from regulators to cap the fees, created new ways for customers to avoid the penalties.JPMorgan Chase, Wells Fargo and Bank of America reported a combined $2.2 billion in overdraft fees in 2023, roughly $700 million less than the previous year, according to regulatory filings.Overdraft fees are triggered…

Jamie Dimon, President & CEO,Chairman & CEO JPMorgan Chase, speaking on CNBC's Squawk Box at the World Economic Forum Annual Meeting in Davos, Switzerland on Jan. 17th, 2024.Adam Galici | CNBCJPMorgan Chase on Thursday said several executives considered frontrunners to one day take over for CEO Jamie Dimon had new or expanded roles.Jennifer Piepszak, co-head of JPMorgan's giant consumer bank, will now became co-head of the firm's commercial and investment bank along with Troy Rohrbaugh, a veteran leader of the…

Jamie Dimon, CEO of JPMorgan Chase, testifies during the Senate Banking, Housing and Urban Affairs Committee hearing titled Annual Oversight of Wall Street Firms, in the Hart Building on Dec. 6, 2023.Tom Williams | Cq-roll Call, Inc. | Getty ImagesJPMorgan Chase reported fourth-quarter earnings before the opening bell Friday.Here's what the company reported compared with what Wall Street analysts surveyed by LSEG, formerly known as Refinitiv, were expecting:Earnings per share: $3.04, may not compare with expected $3.32…

Big banks held up well in 2023, even though the Federal Reserve continued to raise interest rates at a fast clip. Reports on fourth-quarter bank earnings, which start this week, should show how the banks’ customers fared in the harsher rate environment.  So far, households have continued to spend and borrow, despite higher borrowing costs, and businesses have hired at a healthy pace. The biggest banks have reaped the rewards. JPMorgan, Wells Fargo and Bank of Americaturned in strong profit growth for the first three…

Chairman and C.E.O. of JPMorgan Chase & Co. Jaime Dimon speaks during the New York Times annual DealBook summit on November 29, 2023 in New York City. Michael M. Santiago | Getty ImagesJPMorgan Chase CEO Jamie Dimon said Wednesday that his bank would exit China if the U.S. government ordered him to."If the American government makes me leave China, I'm leaving China," Dimon said at the DealBook Summit during a discussion about a potential future conflict over Taiwan. "If there's a war in Taiwan, you would take all bets…

Mary Callahan Erdoes, chief executive officer of asset management at JPMorgan Chase & Co.Simon Dawson | Bloomberg | Getty ImagesJPMorgan Chase executive Mary Callahan Erdoes sought advice for a $600 million tax issue from disgraced former financier Jeffrey Epstein in 2005, legal filings alleged.Erdoes, a veteran JPMorgan executive who became head of the bank's asset and wealth management division in 2009, "personally sought" help from Epstein to resolve the massive tax issue, according to court documents the U.S.…

In the filing, the Virgin Islands government said it wants the bank to place new policies to detect and prevent human trafficking The US Virgin Islands is seeking $190 million in penalties from JPMorgan Chase for the bank’s failure to report disgraced financier Jeffrey Epstein’s sex-trafficking operation, according to a court filing on Friday, the Wall Street Journal reported. In the filing, the Virgin Islands’ attorney general’s office said it wants JPMorgan Chase to place new…

JPMorgan Chase reported second-quarter earnings Friday that topped analysts' expectations as the company benefited from higher interest rates and better-than-expected bond trading.Here's what the company reported:Earnings: $4.37 per share adjusted vs. $4 per share Refinitiv estimateRevenue: $42.4 billion vs. $38.96 billion estimaterelated investing newsNet income surged 67% to $14.5 billion, or $4.75 per share. When excluding the impact of its First Republic acquisition in early May — a $2.7 billion "bargain purchase…

Ace was for the stock, as investor focus shifts to the company's faster-growing and profitable cloud-computing unit.mazon.com Inc.'s annual Prime Day shows that e-commerce isn't the driver it onIn the past four years, the stock has fallen in the week of the two-day sale in which the retail giant discounts swathes of items. The first four years beginning in 2015 saw Amazon shares average a gain of more than 2% in the week of the event, according to data compiled by Bloomberg. The focus on cloud computing has only…