J.P. Morgan Chase announced plans to spend $20 billion over five years to raise hourly pay for a portion of its workforce, add jobs and open 400 branches in new U.S. locations. The bank says tax breaks, reduced regulation and an improved business climate have made it possible to make […]
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Lots of Russians want to invest in bitcoin but we believe it’s a bubble, wealth fund chief says
A panel of fund managers have given their tips on where to find pockets of value in the market — and what assets investors should avoid. The cryptocurrency bitcoin soon popped up in the discussion. “Frankly, we will never invest ever in cryptocurrencies … For us it’s very clear that […]
Check out the world leaders and celebrities who are at Davos this year
Larry Busacca | Getty Images Entertainment | Getty Images Founder Sir Elton John performs onstage at the Elton John AIDS Foundation’s 13th Annual An Enduring Vision Benefit at Cipriani Wall Street on October 28, 2014 in New York City. WEF will honor one of the world’s most successful solo artists […]
‘The Shape of Water’ leads the Oscar nominations with 13 nods, including best picture
Fox Searchlight’s fantasy drama “The Shape of Water,” about a woman who falls in love with a strange river creature, led the Oscar nominations on Tuesday with 13 nods, including the top prize for best picture. It will contend with gay romance “Call Me By Your Name,” British World War […]
Tax reform-related bonuses won’t ‘move the needle’ on the wealth gap, says billionaire Ray Dalio
The bonuses and wage increases seen after the passage of the GOP’s tax overhaul won’t change the wealth gap in America, hedge fund giant Ray Dalio told CNBC on Tuesday. Several major companies announced they would give employees one-time bonuses or higher wages as a result of the cut in […]
Hawaii Gov. Ige knew missile alert was fake in two minutes — but didn’t know his Twitter password
Hawaii Gov. David Ige says he was told within two minutes that the Jan. 13 missile alert sentwas a false alarm, but the “all clear” was delayed because he didn’t know his Twitter password. Ige told reporters on Monday that the reason his Twitter account was silent for 17 minutes […]
Trump is right to take credit for the booming stock market, says billionaire Blackstone CEO Schwarzman
President Donald Trump‘s policies, including tax cuts, will provide a big boost to U.S. growth, Blackstone Chairman and CEO Steve Schwarzman told CNBC on Tuesday. “I think they’ll have a substantial impact on the economy,” Schwarzman told “Squawk Box” from the World Economic Forum in Davos, Switzerland. Schwarzman, who led […]
JPMorgan to raise pay, hire staff in $20 billion investment push
JPMorgan Chase said it would increase wages, hire more and open new branches as part of a $20 billion investment following the overhaul of the U.S. tax code. The bank will increase wages for 22,000 employees by an average of 10 percent, ranging from between $15 and $18 per hour, […]
Tesla’s Musk will be paid only if he reaches a series of jaw-dropping milestones. Otherwise, he makes nothing
For the last several years, there has been speculation about Elon Musk’s future at Tesla, and whether he would step down as chief executive in the next year or two. Mr. Musk stoked that speculation as far back as five years ago when he said he wanted to stay through […]
Uber CEO says leaks were ‘painful’ but ultimately ‘incredibly positive’
Uber’s chief executive said the litany of scandals which have plagued the company over the past 12 months will ultimately help to ensure it does the “right thing” in the future. Speaking at the World Economic Forum (WEF) in Davos, CEO Dara Khosrowshahi said he believed the media had played […]