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JPMorgan’s taking a page from the Google playbook.
The US banking giant has created a JPMorgan Chase application programming interface (API) store, allowing clients to plug into JPMorgan’s data. The API store was highlighted by JPMorgan chief Jamie Dimon in his annual letter to shareholders as part of a discussion on the bank’s tech strategy.
The move is the latest example of JPMorgan taking inspiration from Silicon Valley giants like Amazon and Google. Read the full story.
Elsewhere in finance news, RBC Capital Markets’ expansion and investment in senior bankers is paying off with a surge in stock deals. A former portfolio manager at Steve Cohen’s Point72 is setting out to launch a $US50 million crypto hedge fund.
In econ news, the US added fewer jobs than expected, while the unemployment rate held at 17-year low. Trump’s trade war antics just spoiled the perfectly good jobs report.
Here’s what else is happening:
- The ‘synchronised global economic recovery’ just slowed down sharply
- GOLDMAN SACHS: 5 stocks will see unusually large moves this earnings season – here’s how to trade them
- Goldman Sachs dumps all over Apple’s stock buyback plan
- 16 neglected stocks are poised to crush Wall Street’s expectations when they announce earnings, according to Bank of America
- Sandberg on Cambridge Analytica: We made mistakes, and I own them
- China vows to retaliate after Trump threatens new tariffs on $US100 billion in goods in rapidly escalating trade battle
In tech news, Amazon just filed an under-the-radar protest that hints they’re ready for a battle with Trump on a multibillion-dollar contract. The chairman of Google’s parent company says if internet companies don’t get their act together, ‘bad things will occur’.
Tesla has a China problem that’s about to get worse. But Elon Musk is concerned with other things, such as the creation of ‘god-like’ AI could doom mankind to an eternity of robot dictatorship.