U.S. Securities and Exchange Commission (SEC) officials earlier this week fined JPMorgan Chase $4 million after the company allegedly deleted roughly 47 million emails while in the midst of security investigations.
The settlement order states that the messages were allegedly deleted from about 8,700 mailboxes that belonged to about 7,500 employees who had regular contact with Chase customers.
Read More
JPMorgan Chase CEO Jamie Dimon said in his annual shareholder letter Tuesday that the current fallout from the bank failures of Silicon Valley Bank (SVB) and Signature Bank would likely continue for years.
“As I write this letter, the current crisis is not yet over, and even when it is behind us, there will be repercussions from it for years to come,” wrote Dimon. However, in comparison to 2008, Dimon said the 2023 crisis “involves far fewer financial players and fewer issues that need to be resolved.”
Read More
The average price of gasoline nationwide could reach $6 per gallon this summer, far above historic levels and near California’s current prices, an analyst at JPMorgan said Tuesday.
“U.S. gasoline prices to break above $6,” Natasha Kaneva, JPMorgan’s head of global oil and commodities research, wrote in a note to investors titled “Cruel Summer,” according to Bloomberg. “Typically, refiners produce more gasoline ahead of the summer road-trip season, building up inventories. But this year, since mid-April, U.S. gasoline inventories have fallen counter seasonally.”
Read More