C.SN - Citigroup Inc.

How Jamie Dimon Turned Chase Into the Most Powerful Bank in the U.S.

When JPMorgan Chase bought First Republic Bank in May, all eyes were on its CEO, Jamie Dimon. Here’s how the executive’s strategy for managing risk propelled him to the top of the banking world. Photo illustration: John McColgan

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  Bill Ackman urges Jamie Dimon to run for US president

  Yahoo Finance
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  JPMorgan's Dimon not aware of 2011 warning about Jeffrey Epstein: deposition

  Yahoo Finance

Citi, Petco, Abercrombie & Fitch: Trending stocks

Yahoo Finance markets contributor Remy Blaire discusses trending stocks, including Citigroup announcing it will pursue an IPO for Banamex, Petco stock falling on soft guidance, and Abercrombie & Fitch shares rising after its Q1 earnings beat.

Warren Buffett sells stakes in two banks, buys into Capital One

The Oracle of Omaha has made it clear that he is still cautious about holding many bank stocks.

Fed's Waller: Climate change not a 'serious risk' to US financial system

The comments from Federal Reserve Governor Chris Waller come as the central bank tests the resilience of banks under different climate scenarios.

The lender that made nearly $10 billion from Silicon Valley Bank's failure

The earnings for First Citizens were second in the banking industry behind JPMorgan Chase.

What's next in the markets? 5 executives share their predictions

Every investor wants to know: what does the future hold for the stock market? "People are actually gonna need to figure out how to be good investors going forward. And we have not yet mentally adjusted. What happened over the last 10 years is abnormal." -Marc Rowan, Apollo CEO "Our outlook is more negative going forward... and more people need to catch up with us, which means that we're probably going to have more volatility and more drawdowns ahead of us." -Katie Koch, TCW CEO "Our view remains that at the moment the markets are over optimistic around where we're headed with both [interest] rates and recession." -David Hunt, PGIM CEO "I think the traditional model that is investor built is now gonna be challenged a bit as you leverage AI to be able to find unique insights. So I think the asset managers that have the bigger and broader data set that they can apply AI to are gonna have an advantage." -Jenny Johnson, Franklin Templeton CEO "It's hard to argue that the world isn't heading towards a more carbon neutral state of being. So we want to be at the forefront of that to help clients figure out what's real, what's not real, who's actually doing things versus who's just saying they're doing things." -Jeff Solmon, TD Cowen President (Disclosure: Apollo Global Management is the parent company of Yahoo and Yahoo Finance)

Warren Buffett sticks with Bank of America as crisis rocks bank stocks

Warren Buffett gives a thumbs up on Bank of America stock even as Berkshire has pared back its investments in the financial sector in the last few years.

How Warren Buffett avoided damage from the current banking crisis

The Oracle of Omaha sold a large portion of Berkshire’s holdings in US banks between 2020 and 2022, some just months before the banking system upheaval that began in mid March.

Plummeting bank stocks test predictions that worst of the crisis is over

PacWest and other regional banks plunged overnight on a wave of new pessimism about the industry

A fix for the banking bust is coming into view

Momentum is growing to enact unlimited deposit insurance, even among anti-bailout free marketeers.

Federal Reserve pushes interest rates above 5% for first time since 2007

The Federal Reserve's latest policy decision on Wednesday could mark the end of its rate hiking campaign, the most aggressive from the central bank since the 1980s.

Warren Buffett: Here’s how to invest like the Berkshire Hathaway CEO

Warren Buffett, Berkshire Hathaway (BRK-A) CEO, is a legendary investor and business magnate who is widely regarded as one of the most successful investors in history. With a net worth of more than $100 billion, recent stock purchases over the last 15 years have helped Buffett’s wealth massively increase. So what exactly is his investment philosophy? It’s centered around the principle of value investing, which involves finding undervalued companies that focus on long-term earnings rather than short-term growth. In other words, rather than buying stocks, he buys businesses that have a competitive advantage. This approach has made him one of the most successful investors in history, and anyone can invest like him by following his strategies. Yahoo Finance's Josh Schafer zeroes in on the big companies Warren Buffett invests in, including Costco (COST) and Coca-Cola (KO), and breaks down why his investment strategy works, but also, can sometimes cause him to miss out on some big winners.

Recession, debt ceiling, & real estate: top takeaways from Milken 2023

Debt ceiling worries, the trajectory of the global economy, and the health of commercial real estate are all major themes at the 2023 Milken Global Conference in Beverly Hills, CA. Yahoo Finance's Brian Sozzi breaks down what he's hearing from some of the world's top executives at this week's conference.

PacWest, Western Alliance crash as regional bank fears continue to shake markets

Their drops come one day after JPMorgan Chase purchased the bulk of First Republic, in a deal that was designed to restore stability to the banking system after two months of turmoil.

CEOs weigh in on banking crisis

Yahoo Finance is at the Milken Institute Global Conference 2023 in Beverly Hills, CA. We spoke with top CEOs and executives, including Citi CEO Jane Fraser, and others, to discuss the state of the market, private equity, the outlook for regional banking, and more. As a result of the banking crisis, Apollo Global Management CEO Marc Rowan thinks that "people are going to have to figure out how to be good investors going forward." Citi CEO Jane Fraser sees investors starting to pay more attention to the banking crisis, and hopes "that will act as an impetus to get this resolved in a bipartisan way." Regarding the banking crisis, TD Cowen President Jeff Solomon believes that "this phase of any crisis is over." (Disclosure: Apollo is the parent company of Yahoo Finance.) Video highlights: 00:00:03 - Apollo Global Management (APO) CEO Marc Rowan 00:00:36 - Citi (C) CEO Jane Fraser 00:01:08 - TD (TD) Cowen President Jeff Solomon Special Coverage: Highlights, big interviews, and more from the Milken Institute Global Conference

We are probably heading for recession: Citi CEO

U.S. gross domestic product (GDP) rose at an annual rate of 1.1% in the first quarter of 2023. That is the third-straight quarter of growth for the U.S. economy. The technical definition of a recession is two straight quarters of negative GDP growth. So while the U.S. is not in recession now, market leaders are warning of the possibility that a recession is on the horizon. Citi (C) CEO Jane Fraser joined Yahoo Finance’s Brian Sozzi from the 2023 Milken Institute Global Conference. Fraser said she thinks the U.S. is heading for a recession in the back half of the year. “There is likely to be credit tightening,” Fraser said. “There's some stresses ahead, commercial real estate and the like, but this should be manageable.” You can watch the full interview here. Key Video Moments 00:00:12 How the current bank crisis isn't like 2008 financial crisis 00:00:53 On health of consumer 00:00:58 On possible recession and stresses ahead

Citi CEO: The US banking system is strong and safe

Citi CEO Jane Fraser shares her analysis on the state of the banking industry in the wake of JPMorgan's deal for First Republic.

'There's a palpable sense of relief' after First Republic is bought out, says Citi CEO Jane Fraser

Citi CEO Jane Fraser sits down with Yahoo Finance Executive Editor Brian Sozzi at The Milken Institute Global Conference to discuss JPMorgan's acquisition of First Republic Bank, the overall health of the U.S. banking system, why the current banking crisis is different than 2008 financial crisis, the potential for a recession, and the outlook for Citi.

Powell, Yellen killed First Republic Bank: Analyst

The fate of First Republic Bank is in question, as pressure mounts on the embattled lender after it revealed a massive fall in deposits during the first quarter. As Wall Street debates the cause of First Republic’s (FRC) troubles, one analyst blames the nation’s top financial regulators. Fed Chair Jerome Powell and Treasury Secretary Janet Yellen were “advocates of the strategy called ‘go big at the Fed’,” Chris Whalen, Whalen Global Advisors Chairman tells Yahoo Finance. “After 2018…we had a big problem in the money markets, so I think Chairman Powell…panicked in Washington, and they decided to provide more reserves.” As the COVID-19 pandemic hit, the central bank acted again, bringing the Fed’s balance sheet to nearly $9 trillion. “What they did, in essence, was throw a lot of money at a perceived problem, but they’ve created a real problem now, which is that interest rates have risen,” Whalen says. "The Fed has created a huge market risk, so these outliers like Silicon Valley, First Republic, have tipped over in a difficult funding market.” In his full interview, Whalen spoke with Brad Smith and Julie Hyman about the issues First Republic (FRC) is facing. Key Video Moments 00:00:05: Powell and Yellen's strategy 00:01:10: Huge market risk 00:01:35: Unrealized losses on balance sheets

3 things to watch at next week's Milken Conference

Yahoo Finance will have special coverage of the 2023 Milken Institute Global Conference, including live interviews, exclusive insights, and more. Brian Sozzi shares the 3 biggest things he's looking for at the Milken Conference this year: 1. Finance executives are set to address turmoil in the banking sector. 2. Top CEOs share their big ideas and predictions for the future. 3. Industry leaders from around the world will give us insight into the health of the global economy. Coverage begins Monday, May 1 from The Beverly Hilton Hotel in Los Angeles, California. Featured guests include Michael Milken, Citi (C) CEO Jane Fraser, Apollo (APO) CEO Marc Rowan, Mattel (MAT) CEO Ynon Kreiz, Mondelēz (MDLZ) CEO Dirk Van De Put, Former LinkedIn CEO Reid Hoffman, former SEC Commissioner Michael Piwowar, former Google (GOOGL) CEO Eric Schmidt, 23andMe (ME) CEO Anne Wojcicki and many others.

Wall Street has a Wall Street problem

First-quarter results from Goldman and Morgan Stanley showed how a deal making slump is hurting the biggest firms on Wall Street

American Express CEO: Analysts got it wrong, we had a 'good' quarter

Amex had a solid quarter, but will have some explaining to do to Wall Street analysts.

Signs the banking crisis is over

Bank earnings this week, including reports from Bank of America (BAC), Goldman Sachs (GS) and especially smaller regional banks, will give investors a better indication and more definitive signs on whether the recent banking crisis is over. Better-than-expected results in the past week from bellwethers like JPMorgan Chase (JPM), Wells Fargo (WFC), and Citigroup (C) calmed the market to a large extent, but there is still reason for caution. Yahoo Finance spoke to several banking experts who gave their assessment on the current environment. American Banker’s John Heltman says it’s too early to call the crisis over before we see quarterly results from more mid-size regional banks. Quant Insight Head of Analytics Huw Roberts says he feels the crisis is largely contained and credits the Fed for restoring order. ‘I think you have to give credit to the Fed and other authorities for the speed at which they moved,’ he said. Key video moments: 00:00:13 banking crisis 'feels contained' 00:00:40 why deposits are 'leaving the system' 00:00:55 moving from crisis to stabilization phase