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Last month, JPMorgan gave the world a better idea of who might succeed Jamie Dimon as CEO. And Dimon just gave a better idea of what he might do once that successor takes the job.Dimon, who has led JPMorgan since 2006, said that in addition to doing business “with people I like,” he’ll probably write a book about management or the financial crisis. Known as one of Wall Street’s more outspoken CEOs, Dimon said he might take on public-facing roles, though he kept the details sparse.”I may teach somewhere, because I like teaching, and I might do something around a…

President Donald Trump says the US will reinstate a blockade of the Strait of Hormuz and impose a 20% fee “on all cargo shipped” to help pay for it.”The Hormuz Strait is OPEN, and will remain OPEN, with or without Iran,” Trump wrote on Truth Social on Monday morning. “We are reinstating the THE IRANIAN BLOCKADE, so named because it is only stopping Iran’s ships or customers from entering or leaving.”Trump said the US would charge a 20% fee “on all cargo shipped, for any and all costs necessary to do the job of providing safety and security to this…

Paramount Skydance’s plan to buy Warner Bros. Discovery is running into resistance.State attorneys general from California, New York, New Jersey, and nine other states have sued David Ellison’s media company, alleging its $110 billion WBD deal is anticompetitive and harmful to consumers.”The unlawful merger of these two entertainment behemoths would lead to higher prices, lower quality, and less content for film and television, harming movie theaters, basic cable distributors, and ultimately, audiences on every sofa and movie theater seat in the US,” California Attorney General Rob Bonta said in a statement.Bonta continued: “Consolidation here not only leads to higher prices…

Tim Ryan thrives in chaos.Few signs suggest Ryan’s appetite for the messiest problems. An often-smiling, mild-mannered Bostonian, he traded nearly a decade as PwC’s senior partner for one of Wall Street’s toughest turnaround jobs at Citigroup.”I knew that I really needed to be in a place where I get my hands dirty,” he said in late May about his decision to join the bank.Citi promised to be just that when Ryan started as the head of technology in June 2024. The bank was known for its outdated software; it was facing fresh regulatory fines for failing to fix problems quickly…

Michael Burry has been locking horns with AI bulls like Elon Musk and Alex Karp, but Gavin Baker says he’s thankful for Burry’s thoughtful critiques of the latest tech boom.”I’m so grateful to Michael Burry,” the managing partner and chief investor of Atreides Management said during the latest episode of the “Generating Alpha” podcast. “His Substack, it’s a godsend.”Baker, an early investor in Tesla, SpaceX, and Nvidia, described Burry as a “really smart, intelligent guy who’s making a really credible bear case every day.””We want that,” he continued. “We want a really smart person who’s credibly banging a bearish drum.”Burry,…

Jakub Porzycki | Nurphoto | Getty ImagesA group of state attorneys general is expected to file a lawsuit as soon as Monday challenging Paramount Skydance’s proposed acquisition of Warner Bros. Discovery, CNBC’s David Faber reported. The lawsuit, which will be brought by a group including California Attorney General Rob Bonta, is expected to try to block the merger on antitrust grounds, Faber reported. The deal would combine two storied film studios — Paramount and Warner Bros. — as well as streaming platforms Paramount+ and HBO Max. Paramount CEO David Ellison has previously said the streaming services would become one following…

(L-R) Brian Moynihan, Chairman and CEO of Bank of America; Jamie Dimon, Chairman and CEO of JPMorgan Chase; and Jane Fraser, CEO of Citigroup; testify during a Senate Banking Committee hearing at the Hart Senate Office Building on December 06, 2023 in Washington, DC.Win Mcnamee | Getty ImagesExpectations are high that when banks start posting second-quarter results Tuesday, led by JPMorgan Chase and Bank of America, revenue from trading equities and fixed income will approach, or even exceed, the records set earlier this year. That’s a key part of what veteran analyst Mike Mayo of Wells Fargo calls the “sweet…

This as-told-to essay is based on conversations with 33-year-old Cristina Estupiñán of New Providence, New Jersey. Her identity and background have been verified. This story has been edited for length and clarity.I got a Bachelor of Arts degree in computer science from Boston University in January 2017. I had gone to college to study chemical engineering, but I took a computer science class and ended up switching majors.After graduation, I moved to San Francisco. A friend helped me get some temporary nontechnical work at a large tech company, but when that ended, I didn’t have a clear path forward. The…

Kirk McKinney was riding bikes near his Massachusetts home about six years ago when he came across a goldmine: A dump filled with plenty of junk, sure, but also speakers and electronics.”Someone had thrown away this perfectly good pair of speakers,” he told Business Insider. “I asked the guy at the dump if I could take them and he said yes. I just couldn’t believe that.”McKinney, a high schooler at the time, kept returning to the dump in search of more speakers for his collection. Eventually, he built a sound system in his bedroom that “shook the entire house,” he…

Care about your company, your colleagues, and your reputation, Lloyd Blankfein says.In his recent memoir, “Streetwise,” the former Goldman Sachs CEO recalled three pieces of advice he gave to the firm’s partners, which could be helpful to anyone building their career:1. Take responsibilityBlankfein’s first tip centered on the need for collective accountability.”Our job is the source of our wealth and a big part of our identity,” he recalled telling Goldman’s partners at forums around the world. “So we need to be conscious of what’s happening at the whole firm, not just in our small corner of it.”Blankfein underscored that Goldman…