Business

JPMorgan Chase CEO Jamie Dimon reveals his latest concerns for the U.S. economy and the anticipated impact of looming bank regulations. JPMorgan Chase CEO Jamie Dimon told analysts and investors Monday that he's likely to depart from the company within the next five years as his succession plan starts to come into focus. Dimon made the comments during a question-and-answer session with analysts at JPMorgan Chase's annual investor day. His remarks included a notable shift from his past comments on succession planning, though he opted against giving a definitive timeline."The timetable is not five years anymore," Dimon said. When he has previously been questioned about his future plans, Dimon has generally said he plans to stay at JPMorgan for five more years. "I still have the energ...

A Boeing 747-400 caught fire upon take-off on its trip from Indonesia to Saudi Arabia and was forced to make an emergency landing. (Credit: Viral Press) Boeing’s shareholders voted to re-elect its outgoing CEO, contrary to the proxy adviser’s recommendation, amid an ongoing safety culture crisis.  Proxy Adviser Glass Lewis last month recommended against shareholders reelecting Boeing CEO Dave Calhoun at this week’s annual meeting, but they ignored the guidance and passed the measure, according to a preliminary tally. Lewis raised concerns over dissatisfaction with efforts to change the safety culture at the company, which has come under intense scrutiny this year after a number of high-profile incidents – including the death of a whistleblower and several high-level malfunctions an...

Lloyds Banking Group chief discusses mortgage trendsHome loan experts have revealed how the millions of people opting for ultra-long mortgages can protect their finances in old age.New official figures from the Bank of England have revealed a surge in the number of buyers opting for home loans running for up to 40 years.In theory as many as 3 million people now have a home loan they will still be paying off long after they have retired.There are rising concerns that the resulting monthly repayments – with their high interest costs - will leave older buyers facing poverty in old age.However, industry experts have told the Express that buyers can find ways to protect themselves. READ MORE Over-55s first-time home buying surges, but risks loom Millions of people opting for ultra-long ...

East Palestine resident Linda Murphy discusses the whistleblower that claimed the EPA ‘failed to protect’ the residents of East Palestine, Ohio on ‘The Bottom Line.’ East Palestine, Ohio, residents are expressing frustration after learning that the emergency response to the toxic train derailment last year was riddled with mistakes. "We're just hanging in there. It's all we can do," East Palestine local Linda Murphy said on "The Bottom Line" Thursday.The Environmental Protection Agency (EPA) is disputing whistleblower claims of mistakes and "no confidence" in early data collected from the site where a Norfolk-Southern train hauling caustic materials derailed along the Pennsylvania-Ohio border. A person who said he helped craft the technology and interpret data from advanced radiolo...

More than 200,000 members of the NHS pension scheme are losing their hard-earned pension payments due to a lack of awareness of pension scheme changes.New analysis of freedom of information data from the NHS Business Services Authority (NHSBSA), gathered by wealth manager Quilter, reveals that 209,553 are potentially losing out.From 1 April 2022, the old NHS pension scheme (final salary 1995/2008) was closed, and all active members were moved to the new 2015 scheme. After this date, members no longer accumulate benefits in the old scheme. However, a final salary link was established to ensure that any future increases in pensionable pay would still enhance the benefits from the old scheme.The 1995 section was designed when retirement was more binary – people often worked until 60, then ...

Scott Moses defends Kroger Albertson's merger, claiming it would lower grocery prices further on 'The Claman Countdown.' Walmart, the largest retailer and private employer in the U.S., will serve as a valuable tool in gauging inflation when it reports earnings Thursday. The retailer is a key indicator of how consumers are holding up, providing a sharper lens on household spending in comparison with the government's consumer price index, which showed that inflation ticked up more than expected in March. Ticker Security Last Change Change % WMT WALMART INC. 60.48 +0.04 +0.07% Telsey Advisory Group estimates the retail behemoth will have solid results during the first fiscal quarter as higher-income shoppers spend more at its stores because of inflationary pressures, the firm wrote i...

People worried about the increase in their household bills in April can take action to bring down their costs, an expert has said.Many bills went up from April including council tax, which increased by the maximum five percent in many parts of England.Broadband and mobile tariffs also increased in line with inflation plus an additional amount and water bills also went up.Pete Mugleston, MD and mortgage expert at www.onlinemortgageadvisor.co.uk, encouraged families to try "different approaches" to slash their costs.He told Express.co.uk: "If a family is facing higher energy bills, they should implement energy-saving measures to improve home insulation, switch to energy-efficient appliances and adopt positive habits such as turning off lights and electronics when not in use.There are seve...

Rates dropped from 7.22% to 7.09% for 30-year mortgages.  (iStock) Mortgage rates have steadily been rising over the last few weeks, but rates have finally started to dip. Rates for 30-year fixed-rate mortgages averaged 7.09% as of May 9th, Freddie Mac reported. This is a decent drop from last week when rates averaged 7.22%. Last year at this time, 30-year mortgage rates averaged much lower at 6.35%. Mortgages with 15-year terms also saw interest rates drop. Rates fell to 6.38% from 6.47% last week. Compared to last year when rates averaged 5.75%, buyers are settling for much higher rates."After a five week climb, mortgage rates ticked down following a weaker than expected jobs report," said Sam Khater, Freddie Mac’s chief economist.  "An environment where rates continue to hove...

Melton Building Society has relaunched its 180-day Notice Cash ISA today with an interest rate of 4.5 percent.The account can be opened with a minimum deposit of £25 and withdrawals are permitted, subject to serving an 180-day notice period.Notice accounts act as a middle ground between easy access and fixed rates, enabling people to withdraw money whenever they need to, but they have to give the bank an agreed amount of notice beforehand or they could face penalties.Savers must be UK residents aged 16 and over and interest is paid annually on March 31.Up to £500,000 can be held in the account overall and like with any ISA, up to £25,000 can be invested per tax year, tax-free.Transfers in are permitted either in the branch or by post. Transfers out will be subject to a penalty charge of...

Gatestone Institute senior fellow Gordon Chang discusses social media playing a role in anti-Israel protests taking place on college campuses, the EcoHealth Alliance president's testimony on Capitol Hill and the growing China threat. China may be playing a significant role in the anti-Israel protests by using TikTok to foment division on college campuses. Gordon Chang, a senior fellow at the Gatestone Institute and vocal critic of the Communist Party of China, said the adversary’s actions are an "act of war" as it uses the "curation algorithm of TikTok" to instigate protests."We know of the Hamas videos on that platform [TikTok] – 96.5% of them support the terrorist group. And this echoes what China did in 2020," Chang said."In 2020, an intelligence unit of the People’s Liberation ...