Author: starbpo

Based on an option grant he got in 2021, Jamie Dimon has a $75 million reason to stay on as CEO of JPMorgan Chase for another two or three years. Dion, who is 68 years old, hinted at his plans to step down as CEO earlier than planned at the company’s investor day on Monday. He said, “The timetable isn’t five years anymore,” which was the usual answer he gave when asked about succession. Dimon is likely to stay CEO until 2026, when a special option award of 1.5 million shares of JPMorgan stock will become fully paid. That grant…

Noelle Marcus grew up on Cortes Island, British Columbia, a small island community off the coast of Canada’s Pacific Northwest. Every event and group of friends was made up of people of all ages. Because it was a small community, everyone had to make friends with people from other generations, and that intergenerational lens shaped how she lived her life. Marcus now brings that point of view to the company she started, Nesterly, which helps people of all ages connect with each other and find affordable housing by letting people share their homes. She thinks that home sharing can help…

People who work in the crypto industry are getting more hopeful that new laws that would weaken the U.S. Securities and Exchange Commission will pass this week with strong support from both parties and might even become law before the end of the year. The Financial Innovation and Technology for the 21st Century Act is expected to be voted on by the House of Representatives on Wednesday. This bill would make it clearer who is responsible for overseeing the crypto industry by giving the Commodity Futures Trading Commission more power over it than the SEC. Digital asset companies have long…

Stocks mostly went up on Tuesday, after going down earlier after Federal Reserve Gov. Christopher Waller said he needs to see “several more months of good inflation data” before he’ll think about lowering interest rates. On Tuesday, these stocks were moving: Palo Alto Networks reported an adjusted profit of $1.32 per share for the fiscal third quarter, which was higher than the $1.25 per share that analysts had expected. However, shares fell 2.7% after the cybersecurity company gave investors a less-than-impressive outlook for the fourth quarter. Palo Alto thought that it would make between $2.15 billion and $2.17 billion in…

Macy’s Inc. shares were going up on Tuesday after the department store chain reported fiscal first-quarter results that were down from the same time last year but better than expected. This was due to strong performance at its Bloomingdale’s and Bluemercury stores. Even though same-store sales fell for the eighth quarter in a row compared to the same time last year, sales went up at Bloomingdale’s and Bluemercury for the thirteenth straight quarter. AlphaSense’s transcript of the conference call after the earnings report says that CEO Tony Spring said, “We are reading and reacting to the dynamic economic environment and…

Target Corp. shares kept falling on Tuesday, as investors seemed to be worried that the company’s recent announcement of price cuts could mean that sales and profit margins will be lower than expected in the most recent quarter. During the middle of the day, the stock TGT, -0.76% fell 1%, putting it on track to close at its lowest price since March 4. That came after a 2.1% drop on Monday, when Target said it would be lowering the prices of 5,000 “frequently shopped” items. When Target announced the price cut two days before it reported its fiscal first-quarter results,…

There is a strong chance that the world’s largest economy will go into a recession. This is what Jeffrey Gundlach, CEO of the investment management firm DoubleLine Capital, has believed since at least the end of last year. When asked if he thought the U.S. would still go through an economic downturn, Gundlach told Fox Business Network’s “Mornings with Maria” show, “of course.” He also said it was “hard to say” if it would happen this year. As for the idea that there might be a recession in 2024 or 2025, he said “sure.” This is what the interview transcript…

NEW YORK — On Tuesday, Donald Trump’s lawyers took a break from their defense so that the former president could not testify in his New York hush-money trial. After former federal prosecutor Robert Costello spoke, Trump lawyer Todd Blanche told the judge, “Your honor, the defense rests.” Costello had been called to question the credibility of the prosecution’s main witness. The jury was sent home until May 28, when the closing arguments are scheduled to happen. However, the lawyers will be back later Tuesday to talk about how the judge will instruct the jurors on how to deliberate. As Trump…

It was a tabloid writer’s dream to write about The People v. Donald J. Trump because it was full of sexy testimony, hush money payments, political intrigue, and backroom power struggles. Both the prosecution and the defense rested their cases on Tuesday, the last day of the trial. Closing arguments are set for early next week. The case will then likely be given to the jury, who will decide if the scandalous details are enough to find Trump guilty. If they do, he would be the first former president to be found guilty of a crime and could go to…

NEW YORK — Donald Trump posted a video to his social media account on Monday that talked about possible news stories about a “unified Reich” if he wins the election in November. The headline is shown along with messages like “Trump wins!!” and “Economy booms!” that flash across the screen. It looks like some of the headlines are about World War I. People usually think of Nazi Germany’s Third Reich when they hear the word “Reich.” But the references in the video Trump shared seem to be about how the modern pan-German nation was formed in 1871, when smaller states…