Lee Barney

Finance Editor at Newsmax

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Articles

Jamie Dimon Sells $31.5M of JPMorgan Stock

1 week ago | newsmax.com | Lee Barney

JPMorgan Chase CEO Jamie Dimon has sold $31.5 million worth of the bank’s shares, according to a regulatory filing. Last year, Dimon sold $180 million worth of JPMorgan stock (JPM), the first time Dimon had unloaded any of the bank’s shares since taking over the top role 19 years ago in 2006, the New York Post reports. In 2024, Dimon’s compensation package increased by 8.3% to $39 million. JPMorgan reported last week that its first-quarter net income soared 9% to $14.6 billion.
Consumers Stock up on Canned Food Ahead of Price Hikes

1 week ago | newsmax.com | Lee Barney

With tariffs set to raise food prices 2.8% to 4%, consumers are stocking up on canned goods at big box retailers including BJ's, Costco and Target, a report from Consumer Edge found. In the two days following the announcement of the Trump administration’s tariffs, April 3 and April 4, sales of canned and jarred vegetables rose 29%, instant coffee sales spiked 21%, ketchup sales were up 18%, and beer, 3%, from the Thursday and Friday the week prior.
Jamie Dimon: Economy Facing 'Considerable Turbulence'

1 week ago | newsmax.com | Lee Barney

JPMorgan Chase CEO Jamie Dimon warned Friday the U.S. economy faces “considerable turbulence,” Yahoo Finance reports. Dimon made the remarks as JPMorgan reported net income rose 9% to $14.6 billion in the first quarter, beating Wall Street’s profit and revenue targets. It was JPMorgan’s best quarter since the COVID pandemic. “We continue to believe it is prudent to maintain excess capital and ample liquidity in this environment,” Dimon said.
Drop in Oil Prices to Boost US Economy

2 weeks ago | newsmax.com | Lee Barney

The steep 28% drop in oil prices from a year ago, coupled with President Donald Trump’s commitment to lower U.S. energy prices, will benefit the economy, economists believe. On Thursday alone, oil prices retreated nearly 3% as fears of a deepening U.S.-China trade war.
Bill Gates Leaving Only 1% of His $101B to His Kids | Newsmax.com

2 weeks ago | newsmax.com | Lee Barney

Microsoft founder Bill Gates thinks leaving his three children just 1% of his $101 billion net worth is the right decision, the New York Post reports. “It’s not a dynasty,” the 69-year-old computer pioneer said on the “Figuring Out With Raj Shamani” podcast. Gates, who shares his children, Jennifer, 28, Rory, 25, and Phoebe, 22, with ex-wife Melinda French Gates, said he would like to see them forge their own success in life.
Larry Summers Warns of Recession, 2 Million Jobless

2 weeks ago | newsmax.com | Lee Barney

Former Treasury Secretary Lawrence Summers warned that the trade war that President Donald Trump’s tariffs have unleashed may bring the U.S. into a recession, Fortune reports. As many as two million Americans put out of work, Summers said on Bloomberg Television’s Wall Street Week with David Weston. “It’s more likely than not that we’re going to have a recession — and in the context of a recession, we’ll see an extra 2 million people be unemployed,” Summers said.
Trump's Tariff Push: What It Means for Your Next Car

2 weeks ago | newsmax.com | Lee Barney

Here’s a deep dive into the auto world’s latest shake-up. President Trump just slapped a 25% tariff on imported vehicles and parts, effective April 3, 2025 — and he’s telling US automakers not to raise prices. The president said he “couldn’t care less” if foreign automakers raised prices in response to planned tariffs, reasoning that buyers would choose U.S. made cars over foreign brands. That all depends on the car.
Peter Schiff to Newsmax: There Are No High Tariffs

2 weeks ago | newsmax.com | Lee Barney

“By and large, there are low tariffs around the world,” so the global trade war that the President Trump has unleashed is unnecessary, investment manager Peter Schiff said on Newsmax TV’s “Carl Higbie Frontline” Monday. The U.S. trade deficit charts Trump presented on “Liberation Day” at the White House on April 2 “were a complete fiction,” asserted Schiff, aka “Dr. Doom.” Trump “made them up.
Newsmax Stock Breaks Records in Opening Week

2 weeks ago | newsmax.com | Lee Barney

Newsmax's stock broke records for initial public offerings in its first week of trading, becoming the first Regulation A+ offering to go directly to the NYSE's Big Board – while captivating the markets with a dizzying valuation. After trading began Monday just before 11 a.m. ET, Newsmax (NMAX) soon found itself with a share price of $44.30 and a market capitalization of $4.18 billion.
Harvard's Lawrence Summers Warns of More Turbulence Ahead

2 weeks ago | newsmax.com | Lee Barney

Harvard University economist Lawrence Summers warned that the stock market turbulence is likely to continue, likening last week’s $5.4 trillion market wipeout to 1987’s Black Monday. “This was the fourth-largest two-day move since the second World War,” Summers wrote on X. “The other three were the 1987 crash, the 2008 financial crisis, and the COVID pandemic,” said the former Treasury Secretary under the Clinton administration.