Google's Market Position and Regulatory Scrutiny - Google accounts for more than 90% of all general search queries in the UK and is used by more than 200,000 UK advertisers for search advertising, highlighting its dominant position in the search market [2] - The UK's Competition and Markets Authority (CMA) is investigating Google's position in search and search advertising services to assess its impact on consumers, businesses, advertisers, news publishers, and rival search engines [2] - Google is the first company to face a probe under the UK's new Digital Markets, Competition and Consumers Act, which could designate it as having "strategic market status" and subject it to stricter regulations [4] Regulatory Actions and Legal Challenges - The CMA's probe adds to Google's regulatory challenges, as it is already under intense antitrust scrutiny in the US and Europe regarding its practices in online search, digital advertising, and other business elements [3] - In the US, a judge ruled that Google has an illegal monopoly over online search and is expected to decide on remedies to address this by summer 2024 [3] - The US Department of Justice (DOJ) has formally requested the court to consider forcing Google to sell off its Chrome web browser as part of measures to break its market hold [6] - Google is also facing a separate DOJ trial targeting its digital advertising empire [6] Google's Response and Industry Impact - Google emphasizes that its search services support millions of UK businesses by helping them reach customers in innovative ways and that it will continue to engage constructively with the CMA to ensure new rules benefit all types of websites [7] - The CMA aims to ensure a level playing field for all businesses, including rival search engines, advertisers, and news organizations, to succeed in the digital market [5]

Core Insights - Jennifer Piepszak has decided to step away from the CEO succession race at JPMorgan Chase and will take on the role of chief operating officer, succeeding Daniel Pinto, who will retire at the end of 2026 [1][7] - Succession planning is a significant focus for JPMorgan as CEO Jamie Dimon approaches two decades in his position, with various senior executives being rotated to gain broader experience [3][4] - The current contenders for the CEO position include Marianne Lake, Troy Rohrbaugh, and Mary Erdoes, as speculation continues regarding Dimon's future steps [4][5] Company Developments - Piepszak has expressed a preference for a senior operating role rather than pursuing the CEO position at this time, indicating her desire to work closely with the top leadership [2] - Daniel Pinto, who has been a key figure at JPMorgan for four decades, will relinquish his role as president and COO on June 30, 2023 [1][7] - Doug Petno, co-head of global banking, will succeed Piepszak as co-CEO of the commercial and investment banking business, and he is also considered a potential candidate for the CEO role [7] Industry Context - The leadership transition at JPMorgan is part of a broader trend on Wall Street, where succession planning is becoming increasingly critical as long-serving CEOs approach retirement [3][5] - The challenge of following a long-standing CEO like Jamie Dimon is acknowledged, with concerns that potential successors may prefer to retire rather than take on a demanding role [5]

Nvidia blasted the Biden administration for implementing “misguided” rules limiting shipments of AI computer chips – and praised incoming President-elect Donald Trump – in a rare public broadside on Monday.The chip giant — which has ridden the AI wave to become the most valuable company in the world — took issue with last-minute rules unveiled Monday that cap the number of advanced chips most nations can buy from US firms. The new policy would also tighten requirements on exporting AI-related data for compa ...

President-elect Trump should push back on efforts in Europe and other countries to crack down on the US tech industry, according to Meta CEO Mark Zuckerberg.Zuckerberg, who has scrambled to ingratiate himself with Trump since the president-elect’s win in the 2024 presidential election, made the case for stronger government support during an appearance on “The Joe Rogan Experience” podcast last Friday.“I think it’s a strategic advantage for the United States that we have a lot of the strongest companies in t ...

Jamie Dimon's Future Plans - Jamie Dimon hinted that he is "likely" to stay at JPMorgan as chairman once he steps down as CEO [7] - Dimon has not given a timetable for when he would step aside as CEO [5] - Potential successors to Dimon include Mary Erdoes, Jennifer Piepszak, and Troy Rohrbaugh [3] Dimon's Views on Economic Policies - Dimon supported Trump's use of tariffs as a tool to resolve trade disputes, though he cautioned about potential misuse [4] - Dimon expressed cautious pessimism about the US economy despite lower inflation and improving job numbers [4] - Dimon criticized the Biden administration's regulations, particularly the Basel III proposal, which would require major lenders to raise emergency buffers by 9% [6][10] Dimon's Role in Political Discussions - Dimon was used as a "sounding board" for Trump's economic policies during his presidency [2][9] - Dimon regularly held calls with Trump's inner circle to discuss banking regulation and taxes but ruled out joining the administration [5] - Reports surfaced that Dimon was considered for a role in a potential Kamala Harris administration, though he ruled himself out [8] JPMorgan's Business and Leadership - Dimon earned a salary of $34 5 million in 2023 [6] - Mary Erdoes represented JPMorgan at a VIP lunch with French President Emmanuel Macron [6] - JPMorgan's full-year results are set to be released amid a rebound in deal-making and investment banking fees [8]

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]