JPMorgan boss Jamie Dimon said Sunday he would “likely” take over as chairman of the Wall Street giant when he eventually steps down as CEO. “That’s likely to happen. Again, that is up to the board, not up to me. But if it makes sense, I may be chairing for a couple of years,” the … Read more
Sebastian Mallaby is a senior fellow at the Council on Foreign Relations and the author of five books, including, most recently, “The Power Law,” an account of the venture-capital industry. A former Washington Post and Economist journalist, Mallaby understands why people love to hate financiers: “The prominent ones are crazy rich; they appear to be … Read more
Europe’s next national leader looks likely to come from the far right. With Herbert Kickl in pole position to become chancellor of Austria, the European Union’s establishment is bracing for fresh torment ― and another punch in the guts in its stand against Russia’s Vladimir Putin. Kickl, who would become Austria’s first far-right leader since … Read more
Hawkish Eastern European and Nordic countries including Poland and Sweden are keen to boost EU spending on defense, while Southern ones such as Italy and Greece would prefer more cash to stem migrant arrivals from Africa. In 2025, EU countries will set their red lines for the negotiations. But if the past is anything to … Read more
“Recent moves to delay and dilute vital regulatory protections reflect a worrying trend where ‘competitiveness’ is repeatedly used as a pretext to weaken essential safeguards against financial risks,” he said. Now, with Donald Trump returning to the White House in a matter of weeks, the future of the rules looks uncertain — which creates a … Read more
SINGAPORE: Banks are conducting a “thorough review” of their practices on the use of National Registration Identity Card (NRIC) numbers, the Association of Banks in Singapore (ABS) said on Thursday (Dec 19). It also assured consumer banking customers that NRIC numbers alone cannot be used to effect payment and fund transfers. “Banks apply multi-factor authentication … Read more
A surprising team-up is brewing between US Senator Bernie Sanders and President-elect Donald Trump on a long-standing issue that kept millions of Americans in debt for years while hampering their ability to save and grow money. During his campaign, Trump suggested temporarily imposing a 10% limit on credit card interest rates to allow people to … Read more
Only, some in the boat are baling and paddling more vigorously than others. As Bank of France Governor François Villeroy de Galhau told a radio interviewer recently, France is alone in not having made the reforms that many of its neighbors (“even the Italians!”) have made since the last crisis. And, while political will at … Read more
Markus Ferber (another German) who is the center-right coordinator for economic files, will determine Berger’s replacement within the next week. Among the names being floated to fill the role is a former Spanish central banker Fernando Navarrete Rojas. The digital euro is a virtual counterpart to euro coins and banknotes that the European Central Bank … Read more
A Goldman Sachs banker fired by the Wall Street giant while on paternity leave was unfairly dismissed from his job, an employment tribunal in London has ruled. It said Jon Reeves, an ex-Goldman vice-president for compliance who is suing for $5 million in damages, had been a victim of sexual discrimination after being laid off … Read more
