GE CEO Criticizes President Trump on China and the Paris Accords

When asked what it’s like to “navigate the age of Donald Trump” on Wednesday at the Aspen Ideas Festival, Jeffrey Immelt, the chairman and CEO of GE, was at first reluctant to offer a critique. “Thanks for that question,” he said with a sarcastic chuckle. His role is “first and foremost to run a good company,” he said. “We’re businesspeople. We should participate politically when it’s meaningful or when we should, but most of the time, we should just run our companies and run them successfully.” Then, after a few moments of reflection, he voiced a critique of the Trump Administration in one area: its approach to engagement with the… Read More

Continue Reading

Fed approves dividend, buyback plans of all 34 biggest banks

WASHINGTON — The Federal Reserve has given the green light to all 34 of the biggest banks in the U.S. to raise their dividends and buy back shares, judging their financial foundations sturdy enough to withstand a major economic downturn. It was the first time in seven years of annual “stress tests” that every bank assessed by the Fed won approval for its capital plans. All have at least $50 billion in assets. Related Articles Berkeley council says Wells Fargo not welcome, but could seek future business The Fed on Wednesday announced the results of the second round of its annual stress tests. Those allowed to raise dividends or repurchase… Read More

Continue Reading

Fed approves dividend, buyback plans of all 34 biggest banks

WASHINGTON — The Federal Reserve has given the green light to all 34 of the biggest banks in the U.S. to raise their dividends and buy back shares, judging their financial foundations sturdy enough to withstand a major economic downturn. It was the first time in seven years of annual “stress tests” that every bank assessed by the Fed won approval for its capital plans. All have at least $50 billion in assets. Related Articles Pat Theophilos, arts advocate extraordinaire, business pioneer, fondly recalled Berkeley council says Wells Fargo not welcome, but could seek future business The Fed on Wednesday announced the results of the second round of its annual… Read More

Continue Reading