Author: Press Room

For many Americans, the sight of JPMorgan CEO Jamie Dimon wrangling a coordinated, private-industry lifeline to First Republic Bank on the heels of the collapse of Silicon Valley Bank in March was a familiar one. After all, Dimon had stepped up and served as the de-facto face of the banking industry as markets erupted into chaos during the Great Recession. JPMorgan acquired not one but two troubled financial firms at the behest of the government and has widely come to be viewed as the only bank that didn’t need the federal bailout money foisted upon 13 financial-industry giants.Dimon’s hero status was…

OpenAI’s ChatGPT made up sexual harassment accusations against lawyer Jonathan Turley, WaPo reported.  The AI chatbot said Turley made sexual remarks and tried to touch a student during a class trip. Turley said the claims, cited with a fabricated source, are false and “incredibly harmful.”  Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app OpenAI’s buzzy ChatGPT falsely accused a prominent law professor of sexual assault based on a fake source, The Washington Post reported. Last week, Jonathan Turley, a law professor at George Washington University,…

Background Black Knight, Inc. (NYSE:BKI) is a leading provider of software, data, and analytics solutions for the mortgage and real estate industries. The company offers technology solutions to help lenders, servicers, and investors manage and optimize their mortgage and home equity portfolios. Intercontinental Exchange (ICE) is a global financial services company that operates a network of regulated exchanges and clearinghouses for various economic and commodity markets, including stock and bond trading, energy and agricultural commodities, currencies, and derivatives. ICE offers multiple data services, analytics, and technology solutions for market participants and investors. Arbitrage Opportunity Merger arbitrage is an investment strategy…

In late 2022, as US activist fund Elliott Management was quietly building a large stake in Dai Nippon Printing, the family-run Japanese conglomerate was searching for a new business plan bold enough to lift a stock price that had been stagnant for two decades.Just two months later, DNP announced it would undertake the biggest share buyback in its 147-year history and set a return on equity target of 10 per cent. The company’s shares have risen more than 40 per cent since January 24, when the Financial Times first revealed that Elliott had accumulated a stake of just under 5…

Republican Sen. Tim Scott of South Carolina plans to launch an exploratory committee for president on Wednesday, according to a source familiar with his plans. Scott – the only Black Republican in the Senate – has been testing the waters for months. Since setting off on a listening tour in February focused on “Faith in America,” he’s made frequent visits to Iowa. He’s scheduled to hold events in the early voting state on Wednesday. The Post and Courier was first to report on the plans. “I’ve been doing a lot of thinking the past few months,” Scott wrote in a…

Almost 90% of U.S. adults have heard something about cryptocurrencies, but most aren’t confident that ways to invest, trade, or use it are reliable and safe, according to a Pew Research Center survey published Monday. The survey was conducted between March 13-19, around the time that Silvergate Capital and Signature Bank, both crypto-friendly banks, collapsed or were being wound down. It was also around the time that bitcoin BTCUSD, -0.80% prices had soared. Crypto has seen a rough several months, from multiple corporate bankruptcies like the FTX crypto exchange, to lawsuits against crypto giants like Binance, and frequent regulatory threats…

If you’ve been holding off on home improvements, a new law signed last year and in effect as of Jan. 1, 2023, may provide a fresh incentive.  The Inflation Reduction Act, or IRA, includes tax credits and rebates for homeowners who make energy-saving updates to their homes. Credits for improvements like new solar panels, windows, doors and air conditioners are available now, while rebates for larger energy-efficient updates are expected to become available later this year or next year. Here’s what to know about these perks, plus tips to plan your projects.Tax credits for smaller updates The IRA includes tax…

The failure of three midsized U.S. banks and subsequent financial stress is not likely to be a “big negative” on the U.S. economic outlook, said New York Fed President John Williams, on Tuesday. “The banking system has really stabilized…but we are going to have to watch carefully,” Williams said, in an interview on Yahoo Finance. “The bank failures add to uncertainty about the outlook,” Williams said. He added that he still expects the economy to grow, at a pretty modest rate, this year. Williams said that it is still “early days” to spot tightening of credit conditions in light of…

2/2 © Reuters. FILE PHOTO: Visitors check a Tesla Model 3 car next to a Model Y displayed at a showroom of the U.S. electric vehicle (EV) maker in Beijing, China February 4, 2023. REUTERS/Florence Lo 2/2 By Michael Martina and Patricia Zengerle WASHINGTON (Reuters) – The leader of a U.S. congressional committee on China said on Monday he was concerned about electric carmaker Tesla (NASDAQ:) Inc’s dependency on China, a day after the company revealed plans to open a Megapack battery factory in Shanghai. Tesla announced the factory in a tweet on Sunday, and Chinese state media said it…

By Johan Ahlander STOCKHOLM (Reuters) -A state actor’s involvement in the blast of the Nord Stream pipelines last year is the “absolute main scenario”, though confirming identity will prove difficult, the Swedish prosecutor investigating the attack said on Thursday. In September 2022, several unexplained underwater explosions ruptured the Nord Stream 1 and newly-built Nord Stream 2 pipelines that link Russia and Germany across the Baltic Sea. The blasts occurred in the economic zones of Sweden and Denmark and both countries say the explosions were deliberate, but have yet to determine who was responsible. The blast in the Swedish zone occurred…