JPMorgan Chase (JPM) is slashing jobs in its home-lending division as rising mortgage rates and inflation drive a slowdown in the housing market. The bank is expected to lay off or reassign more than 1,000 employees, Bloomberg News first reported on Wednesday. Bloomberg’s report indicated “about half” of these impacted workers will be moved to different departments within the bank. “Our staffing decision this week was a result of cyclical changes in the mortgage market,” a JPMorgan… Source link
Read More »JPMorgan’s Kolanovic Says Market Bubble Corrections Almost Over
(Bloomberg) — The rout in tech, biotechnology and emerging-markets stocks may be nearly over, and it’s time for investors to start adding to beaten-down, high-beta positions, according to JPMorgan Chase & Co. strategist Marko Kolanovic. Most Read from Bloomberg “While the commodity supercycle will persist,” the strategist said, “the correction in bubble sectors is now likely finished, and geopolitical risk will likely start abating in a few weeks’ time (while a comprehensive… Source link
Read More »JPMorgan’s Jamie Dimon: ‘Buyer beware’ on cryptocurrencies
Jamie Dimon, the CEO of the largest U.S. bank, said Thursday that he has personal concerns with cryptocurrency, but will not steer JPMorgan Chase (JPM) away from offering crypto-related financial services. In congressional testimony to the U.S. House Financial Services Committee, Dimon was asked about his thoughts on bitcoin and other digital assets. “My own personal advice to people is: stay away from it. That does not mean the clients don’t want it,” Dimon said. “This goes back to how… Source link
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