- Jamie Dimon says the banking crisis isn’t over.
- Google is cracking down on staplers and other office equipment.
- Donald Trump surrenders to authorities in New York criminal case.
Jamie Dimon, CEO of JP Morgan Chase, in an interview with Jim Cramer, Feb. 23, 2023.
CNBC
Here are the most important news items investors need to start their trading day:
Jamie Dimon is here to spoil everyone’s relief that the banking crisis caused by the collapse of the Silicon Valley Bank seemed to be over. “As I write this letter, the current crisis is far from over. , wrote in his annual shareholder letter. Still, he said things weren’t as bad as they were during the 2008 financial crash. Dimon’s letter comes as investors look for clues about the state of the financial system and its impact on banks’ daily operations. JP Morgan helps kick off his April 14th earnings season. Follow live market updates.
Google offices in New York on February 2, 2023.
Ed Jones | Afp | Getty Images
Do not say Milton Wadhams, but Google is coming for the stapler. The tech giant is in the middle of cutting costs. In January, he cut 12,000 people and let staff in the cloud department share desks. Google is currently reducing services as employees work from the office and from home, balancing a hybrid schedule. That means slowing down the pace of replacing computers and other equipment, baking fewer muffins on Mondays, and severely restricting how employees get their hands on tape and staples. “We have set and will continue to set high standards for industry-leading benefits, benefits and office amenities,” CFO Ruth Porat said in an email seen by CNBC. Some programs need to evolve to match how Google works today.”
The company’s 747 jet “Cosmic Girl” will launch a LauncherOne rocket into the air for the first time during a drop test in July 2019.
Greg Robinson / Virgin Orbit
Virgin Orbit landed. The rocket launch company filed for Chapter 11 bankruptcy protection on Tuesday after failing to secure a financial lifeline to sustain it. Submission was almost inevitable. As CNBC previously reported, it came days after CEO Dan Hart told employees that Virgin Orbit would cease operations for the foreseeable future. The company said it would seek a sale during bankruptcy proceedings. “At this stage, we believe the Chapter 11 process is the best path forward to identify and finalize an efficient, value-maximizing sale,” Hart said in a statement Tuesday. Have you reached that point?Read CNBC Space Reporter Michael Sheetz’s Deep Dive.
Illumina President and CEO Francis DiSouza speaking at the WEF’s Squawk Box on January 19, 2023 in Davos, Switzerland.
Adam Galika | CNBC
Regulators have told DNA-sequencing company Illumina that cancer test developer Grail must be sold. The Federal Trade Commission said the deal would stifle competition and undermine innovation. Illumina said it has appealed the FTC’s decision and plans to resolve it later this year or early next year. That’s also the time the company hopes to settle an appeal against a similar European Union decision. Carl Icahn. He criticized the company for entering into the deal without first obtaining antitrust approval. I am looking for a seat at the conference.
Former US President Donald Trump arrives at Trump Tower after a Manhattan grand jury indictment following an investigation into hush money paid to porn star Stormy Daniels in New York City, USA, April 3, 2023. .
Gina Moon | Reuters
Donald Trump – real estate mogul, tabloid scandal denier, former reality TV star and former US president – will turn himself in to New York authorities on Tuesday afternoon. He is the first former Supreme Commander to be charged with a crime. The case, filed by Manhattan District Attorney Alvin Bragg, stems from paying hush money to a porn star before the 2016 election, and Trump faces more than 30 counts. It is said that He has denounced the incident as a “witch hunt” but is raising millions of dollars in his bid for next year’s Republican presidential nomination. Many on Wall Street want to endorse Florida Governor Ron DeSantis, Trump’s closest rival for the presidential nomination, but the ex-president’s ire CNBC’s Brian Schwartz reports that some people are worried about buying
– CNBC’s Jesse Pound, Sam Meredith, Jennifer Elias, Annika Kim Constantino, Dan Mangan, and Brian Schwartz contributed to this report.
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