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Jamie Dimon, chief executive officer of JPMorgan Chase & Co. Giulia Marchi | Bloomberg | Getty Images JPMorgan Chase posted record trading revenue amid the surge in volatility in the first quarter.  The bank posted quarterly per share earnings of 78 cents, a figure that missed analyst’s estimates as the bank added $6.8 billion to loan
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JPMorgan kicks off earnings season on Tuesday. The bad news: Short-term guidance will be very ugly.   But there’s some good news:  1) The Securities and Exchange Commission has told corporations that this earnings season is not routine and has encouraged companies to provide forward-looking guidance, and not be concerned that the information may change rapidly.
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Jetta Productions | Iconica | Getty Images As the economy craters, small businesses are among the hardest hit. When unemployment claims began to jump nationwide in March, layoffs among small business spiked 1,021% compared to the month before, according to exclusive data compiled by human resource provider Gusto, based on more than 100,000 small businesses nationwide.
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File photo of an almost-empty passenger plane. Laurel Chor | Getty Images The country’s largest airlines will have to compensate taxpayers for billions in payroll grants to weather coronavirus, the Treasury Department said Friday, leaving the door open to an aid structure that sparked criticism from labor unions, some lawmakers and industry members. The Treasury
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Brandon Colbert Photography As markets careen in response to a near-unprecedented public health crisis that’s brought the U.S. economy to it knees, financial advisors are often the first place worried investors are turning — perhaps after favorite news outlets — for advice, information and solace. While calming clients and working with them to shore up
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Neel Kashkari, president of the Minneapolis Federal Reserve, in an interview on February 17, 2016. David Orrell | CNBC  Minneapolis Federal Reserve President Neel Kashkari said Sunday he expects the path to economic recovery from the coronavirus pandemic will be a “long, hard road,” pouring cold water on hopes for a “V-shaped” rebound. Kashkari, who
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Restaurants in the U.S. are reeling from city- and statewide coronavirus initiatives that shut down many dining rooms essentially overnight. As Americans stay inside and refrain from going out to eat, small and independently owned restaurants are facing massive uncertainty. The National Restaurant Association estimates that 3 million industry employees have already lost their jobs,
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A pronounced economic slump sparked by the coronavirus outbreak has imperiled a popular investment strategy: buying dividend stocks. These stocks have traditionally been highly coveted during periods of market turbulence because they provide shareholders a dividend or a guaranteed return, typically paid out annually out of the company’s profits or reserves. That investment approach is
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Carson Block Anjali Sundaram | CNBC Carson Block’s Muddy Waters Research announced Wednesday it has taken a short position in eHealth Inc., which owns a digital health insurance exchange.  Block, the firm’s founder, disclosed the position on CNBC’s “Squawk Box.“ Muddy Waters argues eHealth, with a stock market value of $3 billion as of Tuesday’s close,
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A sign is posted outside of the PayPal headquarters in San Jose, California. Justin Sullivan | Getty Images After weeks of lobbying, fintech companies are officially allowed to take part in the U.S. government’s emergency lending program.  PayPal and Intuit QuickBooks announced Friday evening that they were approved by the Small Business Administration to take
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Before and after satellite images and drone footage reveal empty city streets around the world, from China to Italy, the UK and the US. See if you get the FT for free as a student (http://ft.com/schoolsarefree) or start a £1 trial: https://subs.ft.com/spa3_trial?segmentId=3d4ba81b-96bb-cef0-9ece-29efd6ef2132 ► Check out our Community tab for more stories or to suggest videos.
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