Jamie Dimon: Tariffs Aren't the Way to Go

09 Juin, 2018, 17:28 | Auteur: Yves Courtet
  • Jamie Dimon, Warren Buffett urge CEOs to end quarterly earnings forecasts

Buffett, who is chairman of Berkshire Hathaway Inc (BRKa.N), and Dimon wrote in a Wall Street Journal column on Thursday that the pressure to meet short-term estimates has contributed to a fall in the number of USA public companies.

"Public companies should be managed for long-term prosperity, not to meet the latest forecast". As a result, corporations "frequently hold back on technology spending, hiring, and research and development" that would improve businesses' future growth, Buffett and Dimon say. Around that time, big companies like Coca Cola, UPS and AT&T said they would no longer give quarterly guidance.

Dimon, is chairman of the Business Roundtable, an association of almost 200 CEOs that is also backing the push to eliminate so-called short-termism.

In an interview earlier today on CNBC, Warren Buffett and Jamie Dimon told viewers to "beware" of bitcoin.

En Indonésie, un orang-outan sauvage tente de sauver sa forêt — Vidéo
Aujourd'hui, on estime la population mondiale de cette espèce de singes à 70.000 ou 100.000 spécimens. Entre 1999 et 2015, 100.000 d'entre eux sont morts, selon une étude publiée dans Current Biology .

Virat Kohli's Wax Statue Damaged at Madame Tussauds
Indian captain Virat Kohli is known for his leadership skills as he leads his team from the front. It is the twenty-fourth location for the Tussauds, which was set up by sculptor Marie Tussaud.

Five golfers in Forbes highest paid athletes list
On the other hand, for the first time since 2010, women's athletes have not found their place in the list of 100 people. Last year, Kohli's earning through salary and winnings was $3 million while brand endorsements earned him $19 million.

FILE PHOTO: Jamie Dimon, CEO of JPMorgan Chase, takes part in a panel discussion about investing in Detroit during a panel discussion at the Kennedy School of Government at Harvard University in Cambridge, Massachusetts, U.S., April 11, 2018.

On Thursday morning, the Business Roundtable which includes CEOs of US companies with more than 16 million employees and more than $7 trillion in annual revenues, weighed in supporting the proposal.

"We think the president has raised some very critical issues about trade, especially with China, around state owned enterprises, fair competition, market access, the ability to own 100% of a company, and these things should be negotiated out and the Business Roundtable supports those issues", Dimon said. "Such short-termism is unhealthy for America's public companies and financial markets - which are critical to economic growth and financial prosperity", Business Roundtable said in a statement.

Buffett and Dimon said they were not opposed to the practice of quarterly and annual reporting that ensures transparency. "When companies get where they're sort of living by so-called making the numbers, they do a lot of things that really are counter to the long-term interests of the business".

Conseillé:



Populaire

Thousands in London for Trooping the Colour spectacle
Colours, or flags, were carried, or "trooped", down the rank so that they could be seen and recognised by the soldiers. The Countess of Wessex, Lady Louise Windsor, Princess Beatrice and Princess Eugenie shared a carriage behind them.

Chuck Schumer Rips Trump Amid Reported ZTE Deal
At the weekend, the company is believed to have agreed to the plan although a "settlement" document has yet to be signed. The President himself ordered the Commerce Department to help out ZTE.

Une demi-finale 100% Américaine - Roland Garros
Pas attendues à ce niveau du tournoi, les deux finalistes du dernier US Open s'affronteront donc pour une place en finale, samedi. Elle n'a concédé qu'une seule fois son engagement dans cette partie, alors qu'elle servait pour le gain du match à 6-4 5-2.

Spain's new PM Pedro Sanchez unveils pro-EU government dominated by women
To maintain "stability", Sanchez has also promised to implement the 2018 budget crafted by the previous conservative government. José Luis Zapatero, the last socialist prime minister, had appointed an equal number of male and female ministers.

" "La " voiture volante " du fondateur de Google offerte en précommande
Prendrez-vous bientôt le volant d'une voiture volante? Elles sont aussi disponibles depuis mercredi en précommande aux États-Unis. Son autonomie varie de 12 à 20 minutes en fonction du poids de l'occupant, les facteurs environnementaux et la vitesse atteinte.

Afghan Taliban raise hopes with surprise Eid ceasefire
President Ashraf Ghani on Thursday declared an apparently unilateral week-long ceasefire with the Taliban. Government forces will not stop fighting other militants , like the Islamic State (IS) group.

LeBron James says Warriors remind him of Heat vs. Spurs Finals
When he's not busy preparing current players for life after their playing careers, he enjoys watching them hone their craft. The Golden State Warriors became the NBA's first back-to-back champions since 2013 by defeating the Cleveland Cavaliers .

Trump to leave G7 summit early amid feud with Trudeau, Macron
Staffers working on the G-7 summit have reportedly started to joke that the meeting should be called the G6 plus one . Trump will skip out on G-7 meetings about climate change, clean energy and ocean protection.

New Zealand women score world record 490/4 in ODI against Ireland
Jess Watkin scored a fine 62 and 17-year-old Amelia Kerr provided the finishing touches, smashing her way to 81 off just 45 balls. New Zealand women have smashed the world record for the highest one-day global score by posting a mammoth 490-4 against Ireland.

BT chief executive Gavin Patterson to leave post later this year
Jan du Plessis, the chairman of BT, said: "The Board is fully supportive of the strategy recently set out by Gavin and his team". Mike van Dulken, head of research at Accendo Markets, said the board faced questions about BT's direction.