Wells Fargo's board is struggling to refresh itself after being reprimanded by shareholders for failing to prevent abusive consumer practices that have depressed the bank's stock price.
Investors can be forgiven for harboring skepticism that the three celebrity business leaders can do better at cutting healthcare costs than the tens of millions of professionals, consultants and lawmakers who have been working on the issue for decades.
President Trump will deliver his first State of the Union address at 9 p.m. EST tonight -- and since we had wine experts Mike DeSimone and Jeff Jenssen, a.k.a. the World Wine Guys, in our newsroom anyway, we had to ask them what they were drinking tonight.
The Federal Reserve has raised interest rates over the past two years, but the biggest Wall Street banks are holding the line on the rates they pay depositors. As a result the banks have kept the extra income for themselves, benefiting executives, employees and shareholders at the expense of retirees and other ordinary savers.
Under JPMorgan CEO Jamie Dimon's own formula, a financial crisis happens every five to seven years. It's now been a decade since the last crisis.
JPMorgan and rivals in the banking industry are drooling over the billions of dollars they'll save on taxes this year. But whereas rivals like Bank of America and Citigroup want to give a lot of the money back to shareholders, JPMorgan's CEO wants to spend the bank's extra cash or use it to make new loans.
JPMorgan, the biggest U.S. bank, follows competitors Wells Fargo and Bank of America in sharing with workers some of its tax windfall, following a cut in the corporate rate to 21% from 35%.
The World Economic Forum is getting underway in Davos, Switzerland and cryptocurrency, bitcoin and blockchain are in the spotlight. Still confused by it all? Watch this video primer on cryptocurrency.
The biggest U.S. bank increased CEO Jamie Dimon's pay by 5.3% to $29.5 million for 2017, as profit fell by 1%. That's roughly 240 times what the firm's roughly 250,000 employee make on average, and they got no raise last year.
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