In a recent interview on CNBC’s “Squawk Box” from the World Economic Forum in Davos, Switzerland, JPMorgan Chase CEO Jamie Dimon praised former President Donald Trump’s policy record and urged Democrats to show more respect to Trump’s supporters. Dimon expressed concern that the negative rhetoric surrounding the term “MAGA” (Make America Great Again) could harm… Continue reading Jamie Dimon praises Trump, warns MAGA criticism could hurt Biden

A federal judge has halted the proposed $3.8 billion purchase of Spirit Airlines by JetBlue Airways, responding to a lawsuit filed by the Justice Department that argued the merger would lead to higher fares for price-sensitive travelers. The acquisition would have created the fifth-largest airline in the U.S., according to the companies. The judge stated… Continue reading Judge blocks JetBlue-Spirit merger after DOJ’s antitrust challenge

Restaurant Brands International is set to acquire Carrols Restaurant Group, the largest Burger King franchisee in the U.S., in a deal valued at about $1 billion in cash. The acquisition, announced on Tuesday, represents a notable shift in strategy for Burger King, which has predominantly operated as a franchised model over the past decade. Carrols,… Continue reading Burger King owner Restaurant Brands buys chain’s largest U.S. franchisee

Goldman Sachs surpassed analysts’ expectations in its fourth-quarter results, reporting earnings of $5.48 per share, a figure that outpaced the estimated $3.51 according to analysts surveyed by LSEG. The company’s revenue for the quarter reached $11.32 billion, exceeding the expected $10.8 billion. The strong performance represents a 51% increase in earnings to $2.01 billion, or… Continue reading Goldman Sachs tops revenue estimates on better-than-expected asset management results

President Joe Biden’s reelection campaign reported receiving over $97 million in contributions during the fourth quarter of 2023, positioning his political operation with $117 million in their campaign war chest as they enter a crucial year. This substantial amount, encompassing contributions to Biden’s campaign, two joint fundraising committees, and the Democratic National Committee, comes at… Continue reading Biden raises over $97 million in fourth quarter, enters election year with $117 million war chest

In the decade since Mary Barra assumed the role of CEO at General Motors (GM), she has navigated the company through significant challenges, earning praise for her dynamic leadership. Under her stewardship, GM achieved record profits, cultural changes, and exceeded Wall Street earnings forecasts in 34 out of the last 35 quarters. Despite her successes,… Continue reading 10 years in, GM CEO Mary Barra has built her legacy on change and crisis. 2024 will bring new tests

Bank of America faced a decline in its shares as it reported fourth-quarter earnings that fell short of Wall Street expectations, leading to a more than 1% drop in the stock. The bank’s earnings per share stood at 70 cents, adjusted, compared to the expected 68 cents, while revenue was $22.1 billion, missing the anticipated… Continue reading Bank of America shares fall after company reports lower fourth-quarter profit, hit by regulatory charge

In its recent report, JPMorgan Chase disclosed a decline in fourth-quarter profits, attributing the dip to a $2.9 billion fee related to the government’s seizures of failed regional banks in the previous year. The bank revealed earnings per share of $3.04, falling short of the expected $3.32, while revenue stood at $39.94 billion, slightly surpassing… Continue reading JPMorgan Chase profit falls after $2.9 billion fee from regional bank rescues

The December consumer price index (CPI) in the United States exceeded expectations, revealing a 0.3% increase on a monthly basis and a 3.4% rise on a 12-month basis. This surpassed the anticipated figures of 0.2% and 3.2%, respectively, as indicated by economists surveyed by Dow Jones. However, core inflation, excluding volatile food and energy prices,… Continue reading 10-year Treasury yield rises above 4.06% after higher-than-expected December CPI

The latest report from the Labor Department reveals that consumer prices in the United States experienced a higher-than-expected increase in December, indicating that inflation is still exerting its influence on the economy. The Consumer Price Index (CPI) rose by 0.3% for the month, surpassing the estimated 0.2% increase. On a 12-month basis, the CPI for… Continue reading Consumer prices rose 0.3% in December, higher than expected, pushing the annual rate to 3.4%

Donald Trump has been informed by Judge Arthur Engoron that he is prohibited from delivering a personal closing argument at his New York civil fraud trial due to his refusal to agree to limitations on his statements. The judge, in a letter to Trump’s lawyer Chris Kise, stated that because there was no response from… Continue reading Trump refuses conditions for fraud trial closing argument, won’t be allowed to speak

Neiman Marcus CEO Geoffroy van Raemdonck has dismissed rumors of a potential acquisition by Saks Fifth Avenue, stating there is “no need” to sell the business, and it is unlikely to change hands in the next five years. Reports suggest that Saks has made multiple bids to acquire Neiman Marcus, including a recent $3 billion… Continue reading Neiman Marcus CEO says there’s ‘no need’ to sell the business as Saks takeover rumors swirl