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EXPLAINED: 55 | Rare Historical Photos

Jamie Dimon bets on America in JPMorgan's annual shareholder note

The CEO also outlined ways to boost economic growth in the United States and beyond.

Fortune

MAGA rule will be ruinous for earth

MAGA seems intent on driving this country and our world all too literally to hell in a handbasket

Salon

Lex in depth: how safe are America’s regional banks?

After the recent failures of Silicon Valley Bank and others, the FT has analysed more than 100 institutions to identify those that are the biggest cause for concern

Financial Times

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Alibaba Split Boosts Optimism in Chinese Tech Stocks

Today’s announcement by Alibaba Group Holding (BABA ) that it will split its $220 billion business into six main units encompassing e-commerce, media, and the cloud is another factor that may extend the recent rally in Chinese technology stocks. In addition, mostly better-than-expected earnings results from China’s mega-cap technology stocks...

Barchart

A couple claims JPMorgan sold $10 million of their jewelry after drilling open a safety deposit box because they didn’t pay their rent

They allege they were not given notice before their personal belongings were auctioned off.

Fortune

"Pro-climate" banks funding fossil fuels

The disconnect between words and actions has outraged climate activists

Salon

'Already past the point of no return': JPMorgan says the U.S. is probably headed for a recession as economic 'engines are about to turn off'

The economy could be nearing a "Minsky moment" and a long overdue economic downturn.

Fortune

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JPMorgan is the unlucky owner of LME's fake nickel shipments

It's the second scandal involving fake nickel in as many months.

Fortune

JPMorgan CEO Jamie Dimon reportedly leading discussions on First Republic rescue

JPMorgan's 2008 rescues ended up costing the bank $19 billion.

Fortune

Banks Promote Climate Pledges But Keep Increasing Their Financing of Fossil Fuel Production

National day of protest will target JPMorgan Chase, Citigroup, Bank of America and Wells Fargo as new U.N. report warns of catastrophic climate impacts.

Capital & Main

JPMorgan and Deutsche to face lawsuits over Jeffrey Epstein ties

Manhattan judge allows central accusations that banks benefited from ties to sex trafficker to proceed

The Guardian - US

JPMorgan, Deutsche Bank to face Epstein ties lawsuits

JPMorgan Chase & Co and Deutsche Bank AG face lawsuits accusing them of enabling Jeffrey Epstein's sex trafficking.

The New Daily

First Republic Bank shares sink to another record low, but stock markets are calmer

Shares in the midsized lender continued to tumble as fears grow about First Republic's financial health grow even after it received a $30 billion lifeline from its bigger rivals last week.

WEKU

Customers scramble to withdraw money from First Republic as stock drops almost 50%

Efforts to reassure the public that First Republic is safe have so far been unsuccessful as bank's shares plunge.

Fortune

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The Guardian - US

US banks want socialism for themselves - and capitalism for everyone else

When banks like Silicon Valley Bank collapse, money floods to bigger ones like JPMorgan. Clients know they’re ‘too big to fail’

Bangkok Post

As in 2008, JPMorgan chief plays key role in bank rescue

NEW YORK: Consulted by policymakers and able to nudge his peers into action, JPMorgan Chase CEO Jamie Dimon played a key role in a bank rescue effort this week -- a situation sparking reminders of 2008.

Chicago Sun-Times

Big banks create $30 billion rescue package for troubled First Republic Bank

The uninsured deposits from 11 big banks into First Republic Bank are seen as a vote of confidence in the San Francisco-based firm with $176.4 billion in deposits.

Fortune

Bank of America has raked in $15 billion in new deposits after SVB collapse

Sources familiar with the matter say former Silicon Valley Bank customers are looking to put their money in the safest institution possible.

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Newsroom.co.nz

Amid fears for small players, big banks agree to a competition inquiry

Is NZ developing a two-tier banking system? There’s concern smaller savings institutions may be placed at greater risk, if customers follow Americans' flight to big banks this week. Jonathan Milne reports.

Fortune

SVB’s other businesses are on the block: What’s for sale and who may be a buyer?

SVB Financial named a restructuring committee to seek out alternatives for its non-banking units.

Fortune

Regulators shut down SBV after bank run

How can a bank run happen in 2023? Why didn’t anyone step in to save SVB? And who is at risk now?

inkl Originals

The Weekly Wrap for Saturday, 11 March 2023

Georgians flocked to the streets this week to protest a dodgy foreign interference bill.

Fortune

VCs describe a big mess as Silicon Valley Bank’s troubles spark panic

Founders are pulling cash from Silicon Valley Bank as fear of a bank run has spread.

Fortune

Bill Ackman thinks the government should consider SVB bailout

The founder of Pershing Square Capital Management said the collapse of Silicon Valley Bank "could destroy a long-term driver of the economy."

The Independent UK

JPMorgan sues former exec over ties to Epstein sex abuse

JPMorgan Chase has sued its former executive Jes Staley, alleging that he aided in hiding Jeffrey Epstein’s yearslong sex abuse and trafficking in order to keep the financier as a client

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