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Business

JPMorgan Chase’s profits fall 28% amid growing economic uncertainty

JPMorgan Chase’s second-quarter profit slumped as the bank built reserves for bad loans by $428 million and suspended share buybacks. The actions reflect Chairman and CEO Jamie Dimon’s increasingly cautious stance. “The U.S. economy continues to grow and both the job market and consumer spending, and their ability to spend, remain healthy,” he said in […]

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World

JPMorgan sues Tesla for $162.2 million over Elon Musk’s tweets

JPMorgan Chase has sued Tesla for $162.2 million, accusing Elon Musk’s electric car company of “flagrantly” breaching a contract related to stock warrants after its share price soared. According to the complaint filed in Manhattan federal court, Tesla in 2014 sold warrants to JPMorgan that would pay off if their “strike price” were below Tesla’s […]