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Russian economy stronger than expected – JPMorgan

Russia’s economy is coping better with Ukraine-related Western sanctions than could be expected, JPMorgan Chase said in a note to clients dated last week and made public on Monday. According to the biggest US investment bank, business sentiment surveys from the country “are signaling a not very deep recession in …

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JPMorgan issues crude warning to EU

The price of oil could soar if the European Union abruptly bans Russian crude from its energy markets, JPMorgan said on Tuesday in a note seen by Business Insider. According to the investment bank, a full and immediate embargo would displace four million barrels of Russian oil per day, sending …

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JPMorgan profits crash

JPMorgan Chase said on Wednesday its first-quarter profit has dropped by 42% from last year, partly because the bank wrote down nearly $1.5 billion in assets due to higher inflation and the winding down of business in Russia amid the conflict in Ukraine. The bank, the largest in the US …

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JPMorgan leaps into metaverse

JPMorgan Chase announced on Tuesday the opening of a lounge in the Decentraland virtual world, becoming the first bank to arrive in the metaverse. According to the Wall Street bank, the metaverse has a market opportunity of $1 trillion in yearly revenue, as creators tap Web3 to monetize their work …

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Musk issues ‘final warning’ to JPMorgan

“If JPM doesn’t withdraw their lawsuit, I will give them a one-star review on Yelp,” Musk said in response to requests for comment from The Wall Street Journal. He added: “This is my final warning!” The lawsuit centers on a dispute over how JPMorgan re-priced its Tesla warrants as a …

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