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Business

Watch Jamie Dimon and other bank CEOs get grilled by Congress in second day of hearings

[The stream is slated to start at 9:30 a.m. ET. Please refresh the page if you do not see a player above at that time.] The heads of seven of the biggest U.S. banks, including JPMorgan Chase CEO Jamie Dimon and Citigroup’s Jane Fraser, are set to testify Thursday before the Senate Committee on Banking, […]

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Business

Amazon loses PillPack founders four years after acquisition of pharmacy startup

With Amazon Pharmacy, Prime customers in the United States can get their prescription medications shipped to their home for free. Amazon Two Amazon executives who played a formative role in the retail giant’s push into health care are departing. TJ Parker and Elliot Cohen, the co-founders of prescription drug startup PillPack, will leave Amazon at […]

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Business

Bond yields dip following news of lower inflation expectations

The New York Fed’s Survey of Consumer Expectations showed that in August Americans expected inflation to be 5.7% one year ahead. That is down from 6.2% in July and the lowest reading since October 2021. On the data front, investors will be watching the release of the U.S. year-on-year inflation and core inflation rates, and […]

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Technology

Goldman’s Apple Card business has a surprising subprime problem

The weakest American borrowers are starting to miss payments and default on their loans, and that is showing up at a surprising place: Goldman Sachs. While competitors like Bank of America enjoy repayment rates at or near record levels, Goldman’s loss rate on credit card loans hit 2.93% in the second quarter. That’s the worst […]

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Technology

These Chinese stocks can benefit if the metaverse takes off, JPMorgan says

Some parts of China have officially promoted metaverse development plans. Pictured here is a metaverse exhibition area at an annual services trade expo in Beijing on Sept. 1, 2022. China News Service | China News Service | Getty Images BEIJING — When it comes to futuristic concepts like the metaverse, JPMorgan analysts think they’ve found […]

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Business

Biden’s new corporate tax hike won’t be ‘material’ to most U.S. companies, Wall Street analysts say

Senate Majority Leader Chuck Schumer (D-NY) speaks during a news conference about the Inflation Reduction Act outside the U.S. Capitol on August 4, 2022 in Washington, DC. Drew Angerer | Getty Images Business advocacy groups lobbied hard against the 15% minimum tax rate for large corporations that just passed Congress as part of the the […]

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Business

Treasury yields tick lower as investors digest previous week’s data

Bonds yields ticked downward on Monday, as investors digested the previous week’s wave of data releases and questioned whether the U.S. Federal Reserve may slow its tightening cycle on improved inflation news. The yield on the benchmark 10-year Treasury note was 2 basis points lower at 2.824% as the week began, while the yield on […]

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Business

4 takeaways from the Investing Club’s ‘Morning Meeting’ on Thursday

Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Thursday’s key moments. July’s soft PPI is welcome news for growth stocks Disney just crushed it Quick mentions: QCOM, AAPL, DIS, AMZN We need to be nimble in oil 1. July’s soft PPI […]

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Business

Cramer’s lightning round: Dropbox is a pass

Dropbox Inc: “Nothing ever happens to the stock, and I think that that’s because nothing’s going to happen to the stock. … I’m going to have to say, pass.” 23andMe Holding Co: “The stock has no mojo. That’s a technical term for ‘not going anywhere.’” Source link

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Business

A ‘shakeout’ among mortgage lenders is coming, according to CEO of bank that left the business

A sign hangs from a branch of Banco Santander in London, U.K., on Wednesday, Feb. 3, 2010. Simon Dawson | Bloomberg via Getty Images Banks and other mortgage providers have been battered by plunging demand for loans this year, a consequence of the Federal Reserve’s interest rate hikes. Some firms will be forced to exit […]