JPM's shopping spree — Two Sigma's cloud strategy — Experts talk Chase UK

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On the agenda today:

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JPMorgan is confronting competition from fintechs

JPMorgan CEO Jamie Dimon against a red background

JPMorgan has made at least 10 fintech and consumer acquisitions or investments since 2020 as it looks to combat what CEO Jamie Dimon has called "very tough, brutal competition" from startups. We outlined 10 key startup deals helping JPMorgan fend off competition.


Meet the billionaire at the head of Evergrande

Evergrande chairman Hui Ka Yan

Hui Ka Yan is the founder and chairman of Evergrande, the Chinese property development company in danger of defaulting on $300 billion in loans. Meet the man at the helm of what some are calling China's potential "Lehman Brothers" moment.


Two Sigma's cloud execs detail the quant fund's multi-cloud strategy 

David Siegel, cofounder of Two Sigma, in New York in 2017.

Two Sigma's top cloud execs detailed the firm's public-cloud strategy, and why it relies on Google Cloud Platform more than any other provider. Plus, they discussed plans to hire hundreds of engineers focused on the tech in the coming years. Here's what else they told us.


Why JPMorgan's new digital-retail bank is a smart move

Chase app

JPMorgan launched its new Chase retail-banking offering in the UK, and experts are saying it's a strategic decision. With more consumers looking to bank digitally, Chase will be able to fill a gap in the UK for a full-service digital-only bank. See what else experts are saying.


Jamie Dimon: "You're a fool" if you borrow to buy bitcoin

Bitcoin

JPMorgan CEO Jamie Dimon has once again made clear his opposition to bitcoin, saying "people waste too much time and breath" on the digital asset. Read more of Dimon's comments hating on bitcoin.


On our radar:

  • An exec exodus, complaints of low salaries, and pandemic burnout: Inside Gwyneth Paltrow's Goop.
  • The latest Invesco poll shows the quant revolution is here, Bloomberg reports. See the poll's results. 
  • A co-founder of media company Ozy impersonated a YouTube exec on an investor call with Goldman Sachs, according to the New York Times. A look at what happened.
  • Reuters reports that Credit Suisse has extended time-off benefits for Swiss staff. From sabbaticals to more time off for childcare, here's what's changing.
  • Peloton bike loans are being peddled to eager Wall Street buyers, per the Financial Times. More on that here. 

Event invite: Master Your Money is back! This fall, join us for two events presented by Fidelity — "How to Create Generational Wealth" and "How to Invest Smart and Build Wealth" — for tips on achieving financial goals from a panel of experts. Register here.

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