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There’s a subtle shift underway at JPMorgan, and it shows how Amazon’s influenced the Wall Street giant

“There’s a subtle shift in mindset across JPMorgan’s businesses, and it closely reflects Amazon’s own approach, both to customers and to tech” writes Matt Turner for businessinsider.com. “We’re transitioning from meeting the needs of our customers to anticipating their needs,” Lori Beer, chief information officer at JPMorgan Chase, told Business Insider.Beer: If you think about how we created Finn, we used the power of technology at the firm. Source: businessinsider.com Share This:

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Crypto News 

JPMorgan, National Bank of Canada, others test debt issuance on blockchain

“Blockchain is in the early stages of development in the financial industry, but JPMorgan is optimistic about its potential, Farooq said” writes Midwest Communications Inc for 95kqds.com. The spin-off discussions are in the early stages and the bank has received interest from financial institutions and large enterprise technology companies, Farooq added.The platform was built over more than a year using Quorum, a type of open-source blockchain that JPMorgan has developed inhouse and is in discussions to spin off.JPMorgan is considering spinning off Quorum because the technology has attracted significant outside…

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JPMorgan Chase is bringing its branch network to Washington, hiring as many as 700 new employees under a $20 billion investment program powered by deep Republican tax cuts for U.S. corporations.

“JPMorgan plans to open as many as 70 branches, some before the end of this year, Thasunda Duckett, head of the bank’s consumer business, said in an interview” writes Ap Photo Mark for washingtonexaminer.com. The lender is more than doubling a $10 million philanthropic investment and expanding affordable-housing loans to $500 million over five years to support communities such as D.C.’s Wards 7 and 8.JPMorgan Chase is bringing its branch network to Washington, hiring as many as 700 new employees under a $20 billion investment program powered by deep Republican…

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Markets News 

Bank Earnings Boom as Regulators Relax Rules

“Citigroup and JPMorgan both revealed slightly thinner capital cushions in the first quarter, apparently reflecting their expectation that regulators would ease rules for banks in the coming months” writes Emily Flitter for nytimes.com. Improved business conditions are good news for banks, but the prospect of regulators loosening up their oversight could be even better over the long haul. The reduction in the banks’ capital cushions is slight, but it is a sign that actions by the Trump administration and its appointees are having a concrete impact on the banking industry.Turbulent…

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Jamie Dimon says bureaucracy is ‘a disease’ — and JPMorgan takes 5 steps to combat it

“The war rooms created at JPMorgan last year handle issues including client onboarding and vendor and third-party management, Dimon wrote” writes Shana Lebowitz for businessinsider.com. Dimon writes: “Each war room is staffed with a dedicated group of employees tasked with solving specific problems within a set number of weeks or months.”.  Source: businessinsider.com Share This:

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News Stocks 

JPMORGAN: Tesla is facing a ‘self-feeding downward spiral’ — here’s how to protect against a stock crash

“And since the investment vehicles he’s suggesting will be used to bet on a further Tesla stock plunge, he’s labeled them “crash puts.”” writes Joe Ciolli for businessinsider.com. The past three weeks have been enough to worry even the staunchest Tesla bull, as the company’s stock has dropped 27% to its lowest level in more than a year.”A continued stock decline could accelerate equity dilution concerns and create a self-feeding downward spiral in the stock, making our tail risk scenario plausible,” Shawn Quigg, an equity derivatives strategist at JPMorgan, wrote…

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15 major companies that are investing their tax savings in employees, jobs, and communities

“Throughout the year, Just Capital has been tracking how companies in the Russell 1000 spend their tax savings” writes Richard Feloni for businessinsider.com. Just Capital told Business Insider that while the overall picture could look disheartening, there were companies like Boeing and JPMorgan Chase that were using their tax savings to create long-term value rather than only to boost their stock price. Source: businessinsider.com Share This:

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Markets News Stocks 

JPMorgan has identified the perfect Tesla trade to protect against Model 3 ‘production hell’

“Tesla’s stock is up 12% over the past year but has slipped more than 5% so far in 2018” writes Joe Ciolli for businessinsider.com. After all, even Tesla’s CEO, Elon Musk, has labeled the Model 3 situation “production hell,” suggesting traders would be well-advised to keep their wits about them.”We believe the market may be underpricing the potential significance of the Model 3 production release, which we expect in early April,” said Shawn Quigg, an equity derivatives strategist at JPMorgan.Further, JPMorgan also recommends unwinding both legs of the trade at…

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News Stocks 

JPMorgan says it’s found the perfect trade for worried Facebook investors

“Without further ado, here’s the derivatives team’s top Facebook trade: buy Facebook $185 calls and simultaneously sell $150 puts, both expiring in May” writes Joe Ciolli for businessinsider.com. The company’s stock has plummeted 9% in just two days — its biggest such drop in more than two years — and now investors find themselves at a crucial juncture.Lucky for them, the equity derivatives team at JPMorgan has an options strategy that they think is the ideal way to play these uncertain conditions.The trade, known as a risk reversal, will be…

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JPMorgan ‘pulled a rug out from underneath’ its competitors, and now they’re all feeling the pain

“But JPMorgan also has a formidable equity-research department, which is completely separate from its asset and wealth-management business” writes Alex Morrell for businessinsider.com. “Many listed asset managers … did not want to absorb research costs onto their P&Ls, because it further challenges their ability to deliver operational leverage,” Credit Suisse said in a research note in October. JPMorgan doesn’t get all the blame, but Oliver Wyman’s figures show that early on in the post-MiFID II world, the strategy is exacerbating the pain for many of its competitors.He added that it…

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