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JPMorgan's Dimon warns inflation, wars creating risks not seen since WWII

The nation's most influential banker, JPMorgan Chase CEO Jamie Dimon, told investors Monday that he continues to expect the U.S. economy to be resilient and grow this year. But he worries geopolitical events including the war in Ukraine and the Israel-Hamas war, as well as U.S. political polarization, might be creating an environment that "may very well be creating risks that could eclipse anything since World War II."

The comments came in an annual shareholder letter from Dimon, who often uses the letter to weigh in broad topics like politics, regulation and global events and what it might mean to JPMorgan Chase, as well as the broader economy.

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Global shares mostly decline as investors look toward US jobs report

Global shares mostly declined Friday as investors looked to a key U.S. jobs report due later in the day to gauge the health of the economy and see what the Federal Reserve might do on interest rates.

France's CAC 40 declined 1.3% in early trading to 8,042.05, while Germany's DAX slipped 1.4% to 18,153.11. Britain's FTSE 100 shed nearly 1.0% to 7,898.31. U.S. shares were set to trade mixed with Dow futures down 0.2% at 38,988.00, while S&P 500 futures rose 0.3% to 5,213.25.

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Apple lays off more than 600 workers in California in first big wave of post-pandemic cuts

Apple is laying off more than 600 workers in California, marking the company's first big wave of post-pandemic job cuts amid a broader wave of tech industry consolidation.

The iPhone maker notified 614 workers in multiple offices on March 28 that they were losing their jobs, with the layoffs becoming effective on May 27, according to reports to regional authorities.

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Yellen calls for level playing field for US workers and firms during China visit

U.S. Treasury Secretary Janet Yellen called on China on Friday to address manufacturing overcapacity that she said risks causing global economic dislocation, and to create a level playing field for American companies and workers.

Starting a five-day visit in one of China's major industrial and export hubs, she raised what the U.S. considers to be unfair Chinese trade practices in talks with senior Chinese officials.

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US jobs report for March is likely to point to slower but still-solid hiring

The American economy is thought to have added 200,000 jobs in March — a more-than-respectable increase though one that would mark a slowdown from February's vigorous gain of 275,000 and last year's monthly average increase of 251,000.

A modest downshift in hiring could reassure the Federal Reserve that the economy isn't running too hot, especially if wage growth, a key driver of inflation, also slowed last month. The Fed's policymakers are tracking the state of the economy, the job market and inflation to determine when to begin cutting interest rates from their multi-decade highs — a move eagerly awaited by Wall Street traders, homebuyers and people in need of cars, household appliances and other major purchases that are typically financed.

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'Time to act is now': EU urges Lebanon to implement IMF agreed reforms

Two years ago, on 7 April 2022, Lebanon and the International Monetary Fund (IMF) agreed on a program of actions and reforms.

Its implementation would have unlocked over $3 billion in assistance, additional support from donors, put Lebanon back on the path of economic recovery and restored its international credibility.

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Turkish Airlines profits soar in 2023

Turkey's flag carrier Turkish Airlines increased operating profits almost 24 percent year-on-year in 2023, the company said in a statement.

Last year's improved operating result, at $3.96 billion, was well below net profits of just over $6.0 billion, which were swollen by a tax effect to more than double 2022's level.

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Europe stocks rise on eve of US payrolls; gold shines

European equities rose Thursday on the eve of key U.S. data, while gold set another record peak on haven demand and hopes of interest-rate cuts.

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NYC's AI chatbot was caught telling businesses to break the law. The city isn't taking it down

An artificial intelligence-powered chatbot created by New York City to help small business owners is under criticism for dispensing bizarre advice that misstates local policies and advises companies to violate the law.

But days after the issues were first reported last week by tech news outlet The Markup, the city has opted to leave the tool on its official government website. Mayor Eric Adams defended the decision this week even as he acknowledged the chatbot's answers were "wrong in some areas."

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US Treasury secretary heads to China to talk trade, anti-money laundering and Chinese 'overproduction'

U.S. Treasury Secretary Janet Yellen is headed to a China determined to avoid open conflict with the United States, yet the world's two largest economies still appear to be hashing out the rules on how to compete against each other.

There are tensions over Chinese government support for the manufacturing of electric vehicles and solar panels, just as the U.S. government ramps up its own aid for those tech sectors. There are differences in trade, ownership of TikTok, access to computer chips and national security — all of them a risk to what has become a carefully managed relationship.

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