Jamie Dimon Says He's Unsure If Elizabeth Warren Understands Global Banking System

JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon took aim at U.S. Senator Elizabeth Warren, a critic of large banks, as he expressed broad concerns about leadership in Washington. “I don’t know if she fully understands the global banking system,” Dimon, speaking Wednesday at an event in Chicago, said of the Massachusetts Democrat. Still, he said he agrees with some of her concerns about risks. Warren, a Senate Banking Committee...

Asia's Small Businesses Really Love Skype

Businesses from Vietnam to the Philippines are turning small budgets and traffic jams to their advantage by harnessing employees' familiarity with online platforms to exploit the latest and cheapest technologies to boost productivity. A Microsoft-backed survey found small and medium firms in emerging economies in the Asia Pacific embracing tools such as Skype, Dropbox and Whatsapp more readily than their peers in advanced nations....

China Industrial Output Gains in Sign Economy May Stabilize

China’s industrial production gained momentum in May while growth in retail sales kept pace with the previous month, showing signs of stabilization in the world’s second-biggest economy. Industrial output rose 6.1 last month from a year earlier, the statistics bureau said Thursday, accelerating from 5.9 percent in April and beating the median estimate of 6.0 percent in a Bloomberg survey. Retail sales added 10.1 percent in May, while fixed-asset investment excluding rural households climbed 11.4 percent in the first five months. “A...

Pimco May Have Averted Fire Sale After Gross’s Exit

When Bill Gross stepped down from the Pimco Total Return Bond Fund in September, traders across Wall Street anticipated that the world’s biggest bond fund would be forced to dump holdings at fire-sale prices to meet record client withdrawals. So why didn’t it happen? One explanation, according to a regulatory filing last month, may be that Pacific Investment Management Co. held the fund’s clearance sale in-house. The firm sold about $18...