U.S. Week Ahead: Jamie Dimon would be mad to leave JPM
Friday, May 17, 2013 - 02:38
May 17 - Jamie Dimon's position as boss of JPMorgan will not be diminished if he loses the Chairman role, according to Reuters Breakingviews' Antony Currie.
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Investors deciding whether they are on board with Jamie Dimon as chairman of JPMorgan. The bank's CEO facing a vote at the annual shareholder meeting on Tuesday on whether he should continue to hold the chairman role. He has come under scrutiny for the six billion dollars in credit losses from the so called London will trader and firm run ins with regulators. Dimon has reportedly said he may quit if he loses the vote. But raiders breaking news columnist Antony -- doesn't buy. He would be meant to -- he's got done a pretty good jobless the other parts. Eight years he's been that go through the crisis have won major but it would simply shows that needs a bit more help. In the -- about all he loses the ability to control the bold and the ability to name a successor frank. CEO should be taking -- They'll still be running the bank still be his show. Ben Bernanke will face scrutiny from congress he testified before the joint economic committee on Wednesday the Fed Chairman is likely to hear questions about the cost and effectiveness of the central bank's bond buying program Bernanke could also use the appearance to address lingering concerns about how and when it will start -- those purchases. The Fed minutes from the April 30 to me first meeting are also out Wednesday and could offer more details. One area of the economy that has picked up steam is -- is -- forecasters polled by Reuters expect not to continue. They see Wednesday's existing home sales report and Thursday's new home sales report to show improvement from the prior periods. Be strengthening market has helped Home Depot which comes out with its quarterly earnings Tuesday. The stock hit a 52 week high above seventy bucks this week. Other companies reporting results include Dow component Hewlett-Packard and retailers target and and mr. cook goes to Washington. CEO is scheduled to address a congressional hearing Tuesday on US tax codes. Apple's proposing that US companies pay less taxes on offshore profits. That's because the most valuable tech company currently has about 100 billion dollars overseas. And paid six billion dollars in federal corporate income taxes and it's fiscal 2012. And I'll JPMorgan estimates that US companies have about one point seven trillion dollars pastor rod. And most of them say -- repatriating offshore profits too costly. Good things reducing the tax rate on overseas earnings will encourage more investment in the US. And follow us on Twitter at Reuters Insider and get more of our video that Reuters dot com slash raiders TV I'm -- mom this breeders'.
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