Finance
New Morgan Stanley CEO is ‘super bullish’ on hitting financial targets
Morgan Stanley‘s new CEO Ted Pick on Thursday expressed confidence that his bank will hit financial targets of $10 trillion in client assets and a 20% return. Pick, a three-decade Morgan Stanley veteran who took over this month, said he has three priorities: sticking to the strategy laid out by predecessor James Gorman, maintaining the […]
Deutsche Bank CEO says acquisitions not a ‘priority’ as Commerzbank rumors swirl
Christian Sewing, Chief Executive Officer of Deutsche Bank, has acknowledged that a recession in Germany is inevitable, and urged leaders to accelerate its decoupling from China. Denis Balibouse | Reuters Deutsche Bank CEO Christian Sewing on Thursday said that merger and acquisition activity is not a priority for his group, as speculation resurfaces over the […]
Barclays CEO says difference in Labour and Conservative economic policy is ‘fairly minimal’
LIVERPOOL, U.K. – Oct. 11, 2023: Britain’s main opposition Labour Party leader Keir Starmer applauds a speaker the final day of the annual Labour Party conference in Liverpool, northwest England, on October 11, 2023. Paul Ellis | Afp | Getty Images Political risk in the U.K. is “far less than it’s ever been” as the […]
Jamie Dimon praises Trump, warns MAGA criticism could hurt Biden
JPMorgan Chase CEO Jamie Dimon on Wednesday praised former President Donald Trump‘s record and admonished Democrats to be “more respectful” of Trump’s supporters, or else risk hurting President Joe Biden‘s reelection bid. “I wish the Democrats would think a little more carefully when they talk about MAGA,” Dimon said on CNBC’s “Squawk Box,” referencing Trump’s […]
Jamie Dimon warns ‘all these very powerful forces’ will impact U.S. economy in 2024 and 2025
Jamie Dimon, President & CEO,Chairman & CEO JPMorgan Chase, speaking on CNBC’s Squawk Box at the World Economic Forum Annual Meeting in Davos, Switzerland on Jan. 17yth, 2024. Adam Galici | CNBC JPMorgan Chase CEO Jamie Dimon said he remains cautious on the U.S. economy over the next two years because of a combination of financial […]
AI era is a ‘seismic moment’ in tech we’ve not seen in a decade, top Meta exec says
The new artificial intelligence era represents a huge moment for the tech industry that has not been seen in a decade, according to a top executive at Facebook parent company Meta Platforms. Reflecting on 2024, Nicola Mendelsohn, head of global business group at Meta, said it was important to talk about the potential for AI […]
UBS CEO says Swiss public ‘indoctrinated’ to worry about bank’s balance sheet
Sergio Ermotti, chief executive officer of UBS Group Stefan Wermuth | Bloomberg | Getty Images UBS CEO Sergio Ermotti on Wednesday said people with concerns about the size of the bank’s balance sheet are getting “indoctrinated” by academics and should “do their homework.” UBS completed its takeover of Credit Suisse in June 2023 after an […]
UK inflation rate surprises with rise to 4%, led by alcohol and tobacco
Andresr | E+ | Getty Images LONDON — U.K. inflation unexpectedly nudged upwards to 4% year-on-year in December, fueled by a rise in alcohol and tobacco prices. This was the first month in which the annual consumer price index has risen since February 2023. Economists polled by Reuters had expected a modest decline in the […]
OpenAI CEO Sam Altman opens up about being fired by the board: ‘Super caught off guard’
Sam Altman, CEO of OpenAI, during an interview at Bloomberg House on the opening day of the World Economic Forum in Davos, Switzerland, on Jan. 16, 2024. Chris Ratliffe | Bloomberg | Getty Images DAVOS, Switzerland — OpenAI founder and CEO Sam Altman said the night he was pushed out by the board was “wild,” […]
China misses fourth-quarter GDP estimates, resumes posting youth unemployment data
Construction at China Vanke Co.’s Isle Maison development in Hefei, China, on Monday, Nov. 27, 2023. Bloomberg | Bloomberg | Getty Images BEIJING — China missed fourth-quarter GDP estimates on Wednesday, while it resumed reporting the unemployment rate for young people. The National Bureau of Statistics said that excluding people still in school, the unemployment […]