JPMorgan said it will notch a bigger than expected revenue boost from its acquisition of First Republic, raising its forecast for annual net interest income by $3 billion, to $84 billion, even as the bank’s executives warned of the likelihood of a “mild recession” and the prospect of higher interest rates. Speaking at the bank’s investor day on Monday, JPMorgan Operating Chief Daniel Pinto...
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Microsoft CEO Says AI ‘Vicious Cycle’ Will Boost Google; Meta and OpenAI’s Other Rivalry
CEOs often speak from both sides of their mouth, depending on who their audience is. On Monday, Microsoft CEO Satya Nadella painted a scary picture of how Google could multiply its power in the age of artificial intelligence. His doom and gloom comments, made before a federal judge in Washington, contrasted with an upbeat Nadella from February who said that Microsoft’s Bing search—then being...
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