Company Policy on Office Return - More than half of JPMorgan's employees already work in the office full time, with the company having over 316,000 staff worldwide [1][2] - The bank's operating committee believes now is the right time to solidify the full-time in-office approach, considering it the best way to run the company [1] - Employees will be given at least 30 days' notice before being required to return to offices full time, and can seek manager approval for additional preparation time [2] Leadership Perspective - JPMorgan CEO Jamie Dimon and other leaders emphasize that being together in the office enhances mentoring, learning, brainstorming, and productivity [3][6] - The leadership acknowledges that not all employees will agree with the decision, as some prefer hybrid schedules [3] - The bank remains committed to supporting workplace flexibility at every level in a fair manner [4] Implementation Details - JPMorgan Chase has asked employees on hybrid schedules to return to the office five days a week starting in March [5] - The bank provided a link to a list of frequently asked questions detailing special exceptions for remote work, flexibility for personal reasons, and attendance logs [4] - Corporate staff were called back to offices on a rotational basis in mid-2021, and managing directors returned full time in 2023 [3] Industry Context - Financial companies, including JPMorgan, Goldman Sachs, and Morgan Stanley, have been aggressive in enforcing return-to-office policies, with many staff being called back as early as 2021 [5] - Industry leaders advocate for office work, citing benefits such as better learning, innovation, and culture [5][6]

Apple denied its digital voice assistant Siri poses any privacy concerns — one week after it agreed to pay $95 million to settle a lawsuit tied to the software tool.“Apple has never used Siri data to build marketing profiles, never made it available for advertising, and never sold it to anyone for any purpose,” the Cupertino, Calif.-based tech giant said in a statement on Wednesday. “We are constantly developing technologies to make Siri even more private, and will continue to do so.”Apple said Siri uses on ...

Nvidia shares jumped 1.7% on Tuesday to a new all-time high after CEO Jensen Huang unveiled the company’s next family of gaming chips and hinted that robotics technology is about to ramp up.Huang unveiled the latest chips for desktop and laptop PCs during his keynote speech Monday night at CES in Las Vegas, the massive tech trade show with the latest gadgets, promising to deliver better-quality images.The stock, which already had risen to a new high on Monday ahead of the chief executive’s address, was trad ...

New York Post may be compensated and/or receive an affiliate commission if you buy through our links. Featured pricing is subject to change. Disney said on Monday it would merge its Hulu + Live TV business with rival FuboTV — a deal that potentially clears the way for the launch of its stalled sports streaming venture with Fox Corp and Warner Bros Discovery.The merged company will create the second-biggest internet pay-TV provider in North America, behind YouTube TV, with around $6 billion in revenue and 6 ...

Core Points - Ford Motor Company has issued a recall affecting approximately 400,000 vehicles due to safety concerns related to high-pressure fuel pumps and other issues [1] - The recall includes various models of trucks, SUVs, and cars, highlighting the company's ongoing commitment to vehicle safety [1][4] Group 1: Trucks and Heavy-Duty Vehicles - Ford recalled 295,449 diesel pickups and commercial vehicles due to potential biodiesel deposits that could lead to high-pressure fuel pump failure, increasing crash risk [1][6] - The affected models include certain 2020-2022 F-Super Duty F250, F350, F450, F550, F600, and F-650, F-750 vehicles from the 2021-2022 model year [2] Group 2: SUVs - Over 20,000 hybrid electric Ford Escapes from the 2020 through 2024 model years are recalled due to concerns about high-voltage battery short-circuiting [4][8] - Additionally, 4,000 Lincoln Corsairs from 2021 through 2024 are included in the recall for similar battery issues [4] - Nearly 48,000 Lincoln Nautilus SUVs for the 2024-2025 model year are recalled due to malfunctioning automatic window reverse systems, posing a risk of injury [5] Group 3: Cars - More than 12,000 Ford Fiestas and 802 Lincoln MKTs from the 2019 model year are recalled due to issues with rearview camera images potentially being distorted or going blank [7]

Core Points - The Transportation Department has imposed a $2 million penalty on JetBlue Airways for operating four chronically delayed flights, marking the first fine of its kind for such scheduling practices [1] - JetBlue will pay a $1 million fine, with the remaining amount allocated to compensate affected customers for delays or disruptions within the next year [1][2] - JetBlue has agreed to provide vouchers worth a minimum of $75 for future flight cancellations or delays of three hours or more caused by the airline within the next year [2][6] Industry Implications - Transportation Secretary Pete Buttigieg emphasized that the airline industry must ensure flight schedules reflect reality, signaling increased scrutiny on airlines [3] - JetBlue did not admit liability but expressed the importance of timely arrivals for customers and criticized the USDOT for inadequate air traffic control staffing [3][4] - USDOT reported that JetBlue was responsible for over 70% of the disruptions for the four chronically delayed flights, which included 395 delays and cancellations [8]

Core Viewpoint - Costco's board of directors is urging shareholders to vote against a proposal aimed at eliminating the company's diversity, equity, and inclusion (DEI) program, emphasizing that these efforts are integral to their success and ethical standards [1][3]. Summary by Sections Company Position on DEI - The board asserts that their DEI initiatives are essential for attracting and retaining employees, which is critical for the company's success, supported by a workforce of over 300,000 employees globally [1][3]. - Costco's DEI program has been rebranded to "People and Communities," but the board maintains that their commitment to diversity and inclusion remains strong despite external pressures [3][5]. Shareholder Proposal - The proposal from the National Center for Public Policy Research challenges the legality of Costco's DEI program, citing the Supreme Court's ruling in SFFA v. Harvard, which impacts corporate DEI initiatives [1][4]. - The foundation argues that Costco's DEI practices could lead to potential legal risks, claiming that a significant portion of its workforce could be victims of illegal discrimination based on race and sex [3][5]. Legal and Financial Implications - The board contends that the DEI practices are legally appropriate and that the proposal reflects a policy bias rather than a genuine concern for the company's risk management [3][5]. - The potential financial impact of lawsuits related to DEI practices could amount to tens of billions of dollars, according to the proposal, if even a fraction of affected employees were to file claims [3][5].

Acquisition and Regulatory Approval - Nvidia completed its $700 million acquisition of Israeli AI firm Run:ai after a series of regulatory roadblocks [5][9] - The European Commission granted unconditional approval to the deal in December, concluding it would not raise competition concerns [2][4] - The EU antitrust watchdog initially warned the deal threatened competition in the markets where the companies operate [10] Market Dominance and Antitrust Scrutiny - Nvidia dominates the AI graphics processor market with an 80% share [11] - The European Commission's probe focused on practices that could strengthen Nvidia's control over the GPU market [3] - The U S Department of Justice is investigating the acquisition on antitrust grounds [1] Run:ai's Software and Ecosystem - Run:ai plans to make its software open-source, enabling it to extend availability to the entire AI ecosystem [6][8] - Currently, Run:ai supports only Nvidia GPUs [6] Regulatory Environment - Regulators on both sides of the Atlantic have increased scrutiny of tech giants' acquisitions of startups due to concerns about potential rivals being shut down [7]

Walt Disney World is hoping to attract visitors to its Orlando resort this summer with a limited-time offer.Beginning on Jan. 2, guests purchasing select Walt Disney World vacation packages for 2025 can enjoy a free dining plan.The offer is available most nights for arrivals between May 27 to June 26, and July 7 to Aug. 6, according to a press release.In order to participate in the promotion, a minimum 3-night, 3-day non-discounted Walt Disney World package that includes room and a theme park ticket with a ...

Barclays' Strategic Focus - Barclays is re-focusing on its home British market [1] - The company announced a three-year plan to become a simpler and more efficient bank, reducing reliance on investment banking revenue [9] Workforce and Compensation - Barclays has more than 13,000 workers in the US [3] - The company did not pay bonuses to dozens of bankers last year due to declining revenue and cut bonuses by 43% across the bank in 2023 [3] - Barclays was expected to increase bonuses by as much as 20% to some departments this year as dealmaking rebounded [3] - More than a dozen New York-based Barclays bankers and traders were fired just before the holidays and denied bonuses [6] - An investment banker might make a $200,000 salary and an expected $1 million bonus [6] - Some of the fired bankers are considering filing $10 million-plus lawsuits [8] Industry Practices - Rival Wall Street firms, including Goldman Sachs and Bank of America, award bonuses — perhaps half — when firing bankers and traders toward the end of the year [12] - A good employer will pay the bonus pro-rata for the amount of time worked during the year, but some don't [7] Legal and Employment Issues - The banks often in their labor agreements say you have to be employed at the time of the bonus to get your bonus [3] - They will likely contend that the bonus is earned throughout the year and is not discretionary [5] - Rahman said they may have a tough time winning their cases, though they often end up in arbitration with the Financial Industry Regulatory Authority (FINRA) [5] - One employment lawyer told The Post that while it is not unheard of for banks to fire workers late in the year, the fact that they were not giving a bonus is pretty heartless [4]