The Trump administration "will take a look" after billionaire investor Peter Thiel said the FBI and CIA should see if Chinese intelligence has infiltrated Google.Technologyread more
On Monday, the first day of Amazon's 48-hour shopping extravaganza this year, retailers that make more than $1 billion in annual revenues saw a 64% increase in their digital...Retailread more
Builder confidence for single-family homes rose just one point to 65 in July, according to the National Association of Home Builders/Wells Fargo Housing Market Index (HMI)....Real Estateread more
Dimon is making his own bet on a digital coin that could transform the global payments landscape: JPM Coin.Financeread more
Expectations for lower interest rates and less fear about tariffs sent investors back into the market and set up what could be a profitable run ahead.Marketsread more
Southwest Airlines is delaying pilot hiring and captain upgrades with no end in sight to the grounding of the Boeing 737 Max.Airlinesread more
The U.S. and China have restarted their trade talks, but signs are showing a deal could be even harder to reach now.Marketsread more
The Federal Reserve's expected interest rate cuts appears to have impacted J.P. Morgan's forecast for 2019 net interest income.Financeread more
A crop of long-awaited technology companies coming to the public market this year created a "frothy" period, Bernstein said on TuesdayInvestingread more
GE hasn't had a year this good during this millennium. After that massive surge, one trader is warning investors to stay away.Trading Nationread more
Credit card sales volume rose 11% this quarter and merchant processing volume increased 12%, the bank says in its earnings statement.Banksread more
J.P. Morgan Chase is expanding benefits to help employees pay for fertility treatments and surrogacy services, according to an internal memo obtained by CNBC.
Employees in the U.S. without a medical diagnosis of infertility can now have up to $30,000 of treatments including in vitro fertilization covered, according to the letter, which was sent to workers earlier this week. The New York-based bank also increased reimbursement for costs related to surrogacy, which involves compensating a woman to carry a child to term, to $30,000 from $10,000.
Both moves are seen within J.P. Morgan as primarily helping LGBTQ employees, because before the change, which starts July 1, same-sex couples who weren't medically diagnosed as infertile had to pay for services out of pocket. (Workers who are deemed infertile are already covered by the bank's medical plan). The company made the change after an investment bank employee queried an internal LGBTQ council, said spokesman Joe Evangelisti.
"We recognize that there are many pathways to building a family and we're making it easier to follow them," the bank said in a letter signed by human resources chief Robin Leopold and general counsel Stacey Friedman.
The move is an important one because Wall Street firms tend to follow each other in expanding benefits amid a constant war for talent. While Morgan Stanley reportedly made it easier for workers in same-sex relationships to tap reproductive benefits starting this year, J.P. Morgan said it believes most of the biggest U.S. financial institutions are lagging in this category.
Just 31% of companies with 500 or more employees provide some kind of fertility benefit, according to the International Foundation of Employee Benefit Plans.
J.P. Morgan, the biggest U.S. bank by assets, also provides up to $10,000 per child for adoption-related costs. The other new benefits are capped at $30,000 per worker or covered partner.
Leopold and Friedman received hundreds of positive responses from employees after the announcement, Evangelisti said.