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For Republicans, there is a risk associated with tariffs
US President Donald Trump in his annual letter to investors said, “No reason we have to price in a recession.” His comments came after Jamie Dimon, the CEO of JPMorgan Chase and Bank of America, wrote that tariffs might lead to inflation and a recession. Dimon’s comments come as over 50 governments have reached out…
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The banking crisis has unfolded
US’ Silicon Valley Bank and First Republic Bank have been seized and taken over by regulators, marking the largest US bank failure since the 2008 financial crisis. A group of 11 US banks, including JPMorgan Chase, agreed to give First Republic $30 billion. Silicon Valley Bank said it needed to shore up its finances due…
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A judge agreed that banks can be sued for profiting from sex-trafficking
US Virgin Islands’ attorney general sued JPMorgan Chase in 2019, claiming that bank should have known about billionaire Jeffrey Epstein’s sex trafficking activities on his island. JPMorgan has now settled the case, with 50% of the proceeds from the island’s sale going to the territory. Earlier, the US Virgin Islands had sued Barclays and Barclays…