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JPMorgan CEO blasts tax breaks for race cars and private jets - and says the write-offs need to stop

JPMorgan CEO Jamie Dimon said the US should get rid of tax breaks for horse racing, race cars, and golf courses. Mike Blake/Reuters JPMorgan CEO Jamie Dimon blasted tax breaks in his annual shareholder letter on Wednesday. Dimon proposed major tax reforms to promote growth and address income inequality. The comments come as President Biden proposes a corporate tax rate increase. See more stories on Insider's business page. The chief executive of Wall Street's biggest bank thinks t...
Tags: Amazon, Politics, News, Finance, Wall Street, US, Trends, Joe Biden, Biden, Tax Breaks, Jamie Dimon, Jpmorgan, Mike Blake, Dimon, Carried Interest, Reuters JPMorgan


JPMorgan makes Silicon Valley hires - Wall Street burnout spills into Big Law - Return to office updates

Hello, readers!Happy Saturday, and welcome to Insider Finance. Here's a rundown of the must-know stories from the past week:JPMorgan wants to deepen its ties to Silicon Valley - and hired five people to helpArchegos blowup shines spotlight on the risks lurking in swaps, family officesSPAC insiders say PIPE financing for deals is drying up and the market needs to take a "collective breath"Goldman gives updates on return-to-office plans for summer interns and full-time campus hires Big Law ass...
Tags: New York, London, Trends, Bank Of America, SEC, Silicon Valley, Goldman Sachs, Goldman, Blackstone, Viacom, Mastercard, Silicon Valley Bank, Jpmorgan, Sachs, SPAC, Skadden Arps Slate Meagher Flom


JPMorgan's billionaire boss Jamie Dimon was again paid $31.5 million in 2020, having warned in 2019 that income equality was a 'huge problem'

JPMorgan Chase's CEO Jamie Dimon. Reuters JPMorgan's CEO Jamie Dimon earned $31.5 million from the baking giant in 2020, it announced on Thursday. He received a $1.5 million salary, $5 million cash bonus, and $25 million of restricted stock tied to performance. Dimon has repeatedly said that income inequality is a massive problem in the US. Visit Business Insider's homepage for more stories. JPMorgan's CEO Jamie Dimon, who in 2019 decried income inequality, was paid $31.5 million in 20...
Tags: US, America, Trends, Bloomberg, Joe Biden, Jp Morgan, Cbs, Donald Trump, Jamie Dimon, New Yorker, Cnbc, Trump, Reuters, Jpmorgan, JPMorgan Chase, Dimon


Bitcoin entering into the mainstream could erode its diversification value over time, JPMorgan says

Reuters JPMorgan said bitcoin's acceptance into the mainstream could hurt its diversification value.The bank found that as bitcoin becomes more mainstream, it becomes more correlated to other assets. JPMorgan also found bitcoin has been less successful than other hedges during stock market drawdowns.Sign up here for our daily newsletter, 10 Things Before the Opening Bell.Bitcoin promoters have long touted the cryptocurrency's role as a diversification tool. A bit reason why is because the ...
Tags: US, Trends, Markets, Goldman, Jpmorgan, Reuters JPMorgan, Emily Graffeo, BTC price, Bitcoin Analysis, Bitcoin Allocation, BTC price today, JPMorgan bitcoin, Bitcoin Diversification, Bitcoin Inflation Hedge, Bitcoin Asset Correlation, Bitcoin And Stocks


JPMorgan is requiring that its traders return to the office by September 21 after 6 months of working from home

JP Morgan Chase & Co sign outside headquarters in New York Reuters   JPMorgan will require its traders to return to their offices by September 21, The Wall Street Journal reported Thursday. CEO Jamie Dimon is already working out of the office. Executives said on a conference call that offices needed to reopen for the sake of team spirit and employee training. Bank reopening plans vary widely, with some pledging to wait until 2021 before requiring that employees head back into the office. Vi...
Tags: New York, Finance, New York City, Trends, Strategy, Bank Of America, Bank, Wall Street Journal, Jamie Dimon, Journal, Business Insider, Wells Fargo, Jpmorgan, Madison Avenue, JP Morgan Chase Co, Arts & Culture


10 things in tech you need to know today

Good morning! This is the tech news you need to know this Monday. Oracle CEO Mark Hurd died aged 62 on Friday. Oracle employees and other tech workers took to Twitter to mourn the CEO and express their condolences to his friends and family over the weekend. Joe Biden and Elizabeth Warren slammed Mark Zuckerberg for his remarks on free speech and said Facebook is spreading lies that could impact the 2020 election. Biden's campaign accused Zuckerberg of "feigned concern" for free speech while Wa...
Tags: Apple, Google, Facebook, Mark Zuckerberg, UK, Congress, Elizabeth Warren, Trends, Joe Biden, South Dakota, David Marcus, Warren, WeWork, Biden, Jamie Dimon, Libra


Exclusive: JPMorgan triggers EU talent transfer as 'dozens' prepare for Brexit move

LONDON (Reuters) - JPMorgan has asked "several dozen" employees to lead a first wave of relocations from Britain to continental Europe by early 2019, kicking off plans to protect its business post-Brexit, a memo to staff shows.
Tags: Europe, London, Money, Eu, businessNews, Britain, Brexit, Reuters JPMorgan


JPMorgan Mulls Moving 200 Bankers to Paris Post-Brexit: Les Echos

PARIS (Reuters) - JPMorgan is considering moving almost 200 banking jobs from London to Paris after Britain leaves the European Union, Les...
Tags: London, Britain, Paris, Jpmorgan, Les Echos, Reuters JPMorgan


JPMorgan Russian Investment Trust Working to Comply With U.S. Sanctions

LONDON (Reuters) - JPMorgan's Russian-focused investment trust said on Friday it was working with the U.S. Treasury's Office of Foreign Assets...
Tags: London, JPMorgan Russian Investment Trust Working, Reuters JPMorgan