Business

Jamie Demon, the CEO of JPMorgan Chase, declared on Wednesday that his company would leave China at the behest of the US government. During a discussion about a possible future conflict over Taiwan at the Deal Book Summit, Demon declared, “If the American government makes me leave China, I’m leaving China.” “You would take all

For the first time in twenty years, the U.S. economy is “back to normal,” but according to IBM Vice Chairman Gary Cohn, the market is outpacing the expected rate of interest rate reductions. According to CME Group’s Fed Watch tool, the market is narrowly pricing a first rate reduction from the Federal Reserve in May

The Commerce Department released a report on Wednesday that showed the U.S. economy grew at an even faster rate than previously indicated in the third quarter. This was due to higher government spending and better-than-expected business investment. According to the department’s second estimate, the gross domestic product—a measure of all goods and services produced during

For the fourth time in the past five weeks, mortgage rates dropped last week, and buyers seem to be taking notice. However, current homeowners’ desire to refinance dropped precipitously. This resulted in a virtually unchanged overall volume of mortgage applications last week, up just 0.3% from the week before, as per the seasonally adjusted index

According to a letter from the activist investor on Wednesday, Elliott Investment Management has acquired a $1 billion stake in Phillips 66 and is vying for up to two board seats in an effort to boost the business’s performance. Wednesday afternoon trading saw a more than 4% increase in Phillips 66’s shares. The market value

The powerful Organization of Petroleum Exporting Countries and its allies, or OPEC+, will meet virtually on Thursday to decide on the next steps in production policy. The meeting was postponed due to internal unrest, the impending expiration of a significant Saudi supply cut, and Middle East conflict. All eyes are on whether the OPEC subset,

After obtaining record contracts with the Detroit automakers, the United Auto Workers union is initiating an unprecedented campaign to organize 13 non-union automakers in the United States. The union announced on Wednesday that approximately 150,000 autoworkers from BMW, Honda, Hyundai, Lucid, Mazda, Mercedes-Benz, Nissan, Rivian, Subaru, Tesla, Toyota, Volkswagen, and Volvo will be covered by