JPMorgan Calls for Recession

JPMorgan economists are warning clients that a series of indicators suggest the U.S. economy and stocks may falter in the coming months, despite growing hopes that the country may avoid a recession. In a Monday note, the bank's analysts led by Mislav Matejka highlight several warning signs.

US citizens residing or traveling in Russia should depart immediately, the White House has said.

An American reporter for the Wall Street Journal has been detained by Russian authorities and accused of spying. This development signals a significant escalation in tensions between Moscow and the United States, as well as Russia's crackdown on foreign news media. Evan Gershkovich, the Moscow-based correspondent, has been

Donald Trump Indicted by New York Grand Jury

Donald Trump, the former President of the United States, has been indicted by a grand jury in New York. He will be the first former president to face criminal charges, but the exact charges are yet to be made public. The case is centered around a payment made to a

aids

Employers are no longer required to pay for AIDs and HIV drugs, among others

Per Bloomberg Law Employers are no longer required to cover the costs of certain drugs, including those for AIDs and HIV. This comes after the US Health and Human Services Department's implementation of the Affordable Care Act was limited. US District Court for the Northern District of Texas

META

Some Meta employees are to experience lower bonuses and more staff assessment

Per Reuters As part of Meta's cost-cutting measures, some employees are expected to receive lower bonuses and more staff assessment. Now, the staff is expected to be assessed twice a year. Per WSJ, citing an internal memo, employees that perform well by the end of 2023 in their

chatgpt

ChatGPT's portfolio outperformed random ones, with managers saying the AI is a co-pilot' not a 'prophet'

OpenAI's ChatGPT has created a "sufficiently diversified" portfolio and outperformed other random portfolios. With that, portfolio managers say the AI tool can be a "co-pilot" for investors instead of a "prophet." A South Korean academic paper attempted to see if ChatGPT could

kevin o'leary

Kevin O'Leary warns of 'oligopoly' of large institutions with Fed backing, saying the demise of regional banks has started

Per Business Insider Shark Tank investor Kevin O'Leary has spoken up about the recent situation regarding the collapse of regional banks. He said that their demise has begun while warning of a potential "oligopoly" of Fed-backed large institutions. O'Leary: "I say this is

Michael Burry

Michael Burry changes opinion: 'I was wrong to say sell.'

"The Big Short" investor Michael Burry was famous for profiting from the subprime mortgage crisis by shorting them. After this big incident, the investor remained fairly silent with his moves until Jan 31, when he simply said: "sell," but now, he said that he was wrong

The FDIC, facing almost $23 billion in costs from recent bank failures, is considering steering a larger-than-usual portion of that burden to the nation’s biggest banks

The FDIC, facing almost $23 billion in costs from recent bank failures, is considering steering a larger-than-usual portion of that burden to the nation’s biggest banks, per Bloomberg. Per Bloomberg: The agency has said it plans to propose a so-called special assessment on the industry in May to shore

Binance to likely exit Canada

Binance to likely exit Canada, per CoinDesk. This is after CoinDesk reported that Coinbase is considering, and discussing, with regulators to stay in Canada. Coinbase’s communications director said, “We remain as committed as ever to the Canadian market as a core component of our international road map.” Binance said:

China and Brazil have reached a deal to trade in their own currencies, ditching the US dollar as an intermediary

China and Brazil have reached a deal to trade in their own currencies, ditching the US dollar as an intermediary. "The expectation is that this will reduce costs... promote even greater bilateral trade and facilitate investment," the Brazilian Trade and Investment Promotion Agency (ApexBrasil) said. China is Brazil&

Elon Musk and others call for a pause in AI research

Elon Musk and others call for a pause in AI research. They said: AI systems with human-competitive intelligence can pose profound risks to society and humanity. "...recent months have seen AI labs locked in an out-of-control race to develop and deploy ever more powerful digital minds that no one

Italy’s government introduced a draft law that, if approved, will ban the production and sale of cultivated food

Italy’s government introduced a draft law that, if approved, will ban the production and sale of cultivated food, per Bloomberg. Per Bloomberg: Cultivated, or cell-based, meat is created by harvesting cells from live animals and providing them with nutrients so they’ll grow in bioreactors and then taking additional

Senator Krysten Sinema says, "It's gravely concerning that retail participants, literally everyday people, were able to figure out something was wrong with Silicon Valley Bank, before regulators took action."

Senator Krysten Sinema says, "It's gravely concerning that retail participants, literally everyday people, were able to figure out something was wrong with Silicon Valley Bank, before regulators took action." See full video: https://twitter.com/unusual_whales/status/1641027670954713088 She also notes the original reporting by

Nasdaq 100 rises 20% from its December low to enter a technical definition of a bull market

Nasdaq 100 rises 20% from its December low to enter a technical defintion of a bull market, per Bloomberg. On Dec 28 was the low. Now is the current year high for the Nasdaq 100. Numerous analysts have provided other predications, however. For example: The founder of "The Bear

Credit Suisse, CS, whistleblowers say it has been helping wealthy Americans avoid paying US taxes

Credit Suisse, CS, whistleblowers say it has been helping wealthy Americans avoid paying US taxes, per CNBC. The Senate Finance Committee aid it had uncovered "major violations" of the 2014 agreement between the Swiss lender and the U.S. Department of Justice (DoJ) for enabling tax evasion. Wyden

Gen X has the highest average credit card debt of any generation group

Gen X has the highest average credit card debt of any generation group, estimated to be $8,266, per Bloomberg. Gen Z had an average credit card debt of $2,781 in Q4 of 2022, marking a 5.90% jump from the three months through May, the biggest increase compared

The minimum expectation for tips has risen from 15% to 20%, it seems, with 18% as the bare minimum for decent service

The minimum expectation for tips has risen from 15% to 20%, it seems, with 18% as the bare minimum for decent service, per Bloomberg. See their full article: The verdict is in: 25 is the new 15. To be sure, much can be said about the shift from employers to

Sam Bankman-Fried has been paying legal fees from a multi-million dollar gift he gave his father with money borrowed from FTX’s sister company, Alameda Research, in 2021

Sam Bankman-Fried has been paying legal fees from a multi-million dollar gift he gave his father with money borrowed from FTX’s sister company, Alameda Research, in 2021, per Forbes. The report alleged that Bankman-Fried secured at least $10 million via a loan from Alameda Research and gave the money

Reparations for Black Californians could top $800 billion, 2.5 times the state's annual budget

Reparations for Black Californians could top $800 billion, 2.5 times the state's annual budget, per NBC. California is weighing on $360,000 in reparations to eligible black residents, per Bloomberg. One of the models under consideration suggests the state would owe a total of almost $640 billion

Saudi Arabia has joined a China-led security bloc and trade alliance with China, Russia, India, Pakistan and others

Saudi Arabia has joined a China-led security bloc and trade alliance with China, Russia, India, Pakistan and others, per CNBC. Saudi Arabia’s cabinet on Tuesday approved a memorandum awarding Riyadh the status of dialogue partner in the Shanghai Cooperation Organization. The SCO is a political, security and trade alliance

Russia has said that it will no longer give the United States advance notice of its missile tests

Russia has said that it will no longer give the United States advance notice of its missile tests, per PBS. Deputy Foreign Minister Sergei Ryabkov said in remarks carried by Russian news agencies that Moscow has halted all information exchanges with Washington. Recently, Russia and China say there can be

China

China completes the first LNG trade (worth 65,000 tonnes) settled in Yuan

Per Global Times China's state tabloid, the Global Times, has recently published a piece announcing the success of the first-ever LNG trade that was settled in Chinese yuan. The cross-border trade involved 65,000 tonnes of LNG sourced from the United Arab Emirates. For the transaction to take

google

Google partners with Replit to potentially create an AI-powered GitHub competitor

Per Tech Radar Although Google didn't have much success with the launch of its Bard AI due to misinformation, the company is now finding other ways to compete. Now, the company is partnering with Replit to combine artificial intelligence with the startup's software to create an

goldman sachs

Goldman Sachs believes 300 million full-time jobs could be impacted by AI platforms like ChatGPT

Per CNN There has been growing talk of fears over artificial intelligence potentially replacing many jobs humans used to do. Goldman Sachs economists have released their estimates, saying up to 300 million full-time jobs could be affected. To be specific, the firm expects AI to affect up to 300 million