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Amazon is laying off roughly 110 employees in its Wondery podcast division and the head of the group is leaving as part of a broader reshuffling of the company’s audio unit.

In a Monday note to staffers, Steve Boom, Amazon’s vice president of audio, Twitch and games, said the company is consolidating some Wondery units under its Audible audiobook and podcasting division. Wondery CEO Jen Sargent is also stepping down from her role, Boom said.

“These changes will not only better align our teams as they work to take advantage of the strategic opportunities ahead but, even more crucially, will ensure we have the right structure in place to deliver the very best experience to creators, customers and advertisers,” Boom wrote in the memo, which was viewed by CNBC. “Unfortunately, these changes also include some role reductions, and we have notified those employees this morning.”

Bloomberg was first to report on the job cuts.

The move comes nearly five years after Amazon acquired Wondery as part of a push to expand its catalog of original audio content. The podcasting company made a name for itself with hit shows like “Dirty John” and “Dr. Death.”

More recently, Wondery signed several lucrative licensing deals with Jason and Travis Kelce’s “New Heights” podcast, along with Dax Shepard’s “Armchair Expert.”

Amazon is streamlining “how Wondery further integrates” into the company by separating the teams that oversee its narrative podcasts from those developing “creator-led shows,” Boom wrote.

The narrative podcasting unit will consolidate under Audible, and creator-led content will move to a new unit within Boom’s organization in Amazon called “creator services,” he wrote.

Amazon’s audio pursuits face a heightened challenge from the growing popularity of video podcasts on Alphabet’s YouTube, which now hosts an increasing number of shows.

Video shows require different discovery, growth and monetization strategies than “audio-first, narrative series,” Boom wrote in the memo to Amazon staffers.

“The podcast landscape has evolved significantly over the past few years,” Boom said.

This post appeared first on NBC NEWS

WASHINGTON — The Agriculture Department allowed six additional states Monday to bar participants in the Supplemental Nutrition Assistance Program from using their benefits to buy certain processed foods, such as sodas and candy.

The SNAP waivers for West Virginia, Florida, Colorado, Louisiana, Oklahoma and Texas amend the statutory definition of food for purchase and put an end to the subsidization of popular types of junk food beginning in 2026.

The administration of President Donald Trump has encouraged all states to take such measures as part of its “Make America Healthy Again” initiative, named for the social movement led by Health Secretary Robert F. Kennedy Jr.

The USDA had so far signed waivers to allow six states — Arkansas, Idaho, Utah, Iowa, Indiana and Nebraska — to place similar purchasing restrictions on SNAP recipients.

“I hope to see all 50 states join this bold commonsense approach. For too long, the root causes of our chronic disease epidemic have been addressed with lip service only,” said the U.S. Food and Drug Commissioner Marty Makary.

Agriculture Secretary Brooke Rollins announced the additional waivers at an event at the USDA headquarters in Washington.

“These state waivers promote healthier options for families in need,” said Secretary Rollins.

More than 42 million people receive SNAP benefits, sometimes called food stamps, as part of the nation’s largest anti-hunger program.

The massive tax cut and spending bill signed by President Trump in July makes significant changes to the SNAP program, including expanding work requirements and shifting more spending for the program to states.

This post appeared first on NBC NEWS

Conservative media baron Rupert Murdoch will give President Donald Trump regular updates on his health as part of an agreement to postpone Murdoch’s deposition in Trump’s $10 billion defamation lawsuit against him over a Wall Street Journal article about late sex offender Jeffrey Epstein.

The unusual stipulation comes a week after Trump’s lawyers sought a quick deposition in the case. Their filing in Miami federal court implied that Murdoch might be either dead or too sick to testify in person by the time the case went to trial.

“Murdoch is 94 years old, has suffered from multiple health issues throughout his life, is believed to have suffered recent significant health scares, and is presumed to live in New York, New York,” Trump’s lawyers said in their filing last week.

Murdoch’ agreement to divulge highly personal information about his health to Trump and his lawyers contrasts sharply with the cozy relationship Murdoch’s Fox News has had with the president over the years.

Fox News for more than a decade has acted as a cheerleader for Trump and his policies. The president is an avid watcher of the conservative network, and several of his key administration officials have worked for Fox. Trump’s daughter-in-law, Lara Trump, currently has a show on Fox News.

The new deal, outlined in a court filing jointly filed by Trump’s and Murdoch’s lawyers late Monday night, postpones Murdoch’s deposition in the case until after a judge rules on his and other defendants’ motions to dismiss Trump’s lawsuit.

If the judge denies that dismissal motion, Murdoch would have to sit for questioning under oath from Trump’s lawyers within 30 days.

The deal has to be approved by the judge, but it is likely to be approved given that both sides have agreed to it.

When the judge signs off on it, Murdoch will be required within three calendar days to give Trump’s’ lawyers “a sworn declaration describing his current health condition,” according to the stipulation filed Monday.

“Defendant Murdoch has further agreed to provide regularly scheduled updates to Plaintiff regarding his health, including a mechanism for him to alert the Plaintiff if there is a material change to his health,” the filing says.

That mechanism is described in a separately signed agreement, which was not publicly filed with the court.

If Murdoch fails to provide the updates as agreed to in the abatement agreement, he will have to sit for an “expedited” deposition, the filing says.

A spokesman for Trump declined to comment on the filing.

CNBC has requested comment from Dow Jones & Co., the publisher of the Journal, which is owned by Murdoch’s News Corp.

Trump’s suit alleges defamation for a Wall Street Journal article in July which said he had sent Epstein a “bawdy” birthday card in 2003 for Epstein’s 50th birthday.

Trump, who denies writing the note, sued Murdoch; News Corp and its CEO Robert Thomson; Dow Jones & Co.; and the two reporters who wrote the article.

For weeks, the president and the Justice Department have faced criticism for a decision not to release investigative files about Epstein, a former friend of Trump’s, who died by suicide in jail in 2019, after being arrested on child sex trafficking charges.

This post appeared first on NBC NEWS

The S&P 500 ($SPX) just logged its fifth straight trading box breakout, which means that, of the five trading ranges the index has experienced since the April lows, all have been resolved to the upside.

How much longer can this last? That’s been the biggest question since the massive April 9 rally. Instead of assuming the market is due to roll over, it’s been more productive to track price action and watch for potential changes along the way. So far, drawdowns have been minimal, and breakouts keep occurring. Nothing in the price action hints at a lasting change — yet.

While some are calling this rally “historic,” we have a recent precedent. Recall that from late 2023 through early 2024, the index had a strong start and gave way to a consistent, steady trend.

From late October 2023 through March 2024, the S&P 500 logged seven consecutive trading box breakouts. That streak finally paused with a pullback from late March to early April, which, as we now know, was only a temporary hiccup. Once the bid returned, the S&P 500 went right back to carving new boxes and climbing higher.

New 52-Week Highs Finally Picking Up

If there’s been one gripe about this rally, it’s that the number of new highs within the index has lagged. As we’ve discussed before, among all the internal breadth indicators available, new highs almost always lag — that’s normal. What we really want to see is whether the number of new highs begins to exceed prior peaks as the market continues to rise, which it has, as shown by the blue line in the chart below.

As of Wednesday’s close, 100 S&P 500 stocks were either at new 52-week highs or within 3% of them. That’s a strong base. We expect this number to continue rising as the market climbs, especially if positive earnings reactions persist across sectors.

Even when we get that first day with 100+ S&P 500 stocks making new 52-week highs, though, it might not be the best time to initiate new longs.

The above chart shows that much needs to align for that many stocks to peak in unison, which has historically led to at least a short-term consolidation, if not deeper pullbacks — as highlighted in yellow. Every time is different, of course, but this is something to keep an eye on in the coming weeks.

Trend Check: GoNoGo Still “Go”

The GoNoGo Trend remains in bullish mode, with the recent countertrend signals having yet to trigger a greater pullback.

Active Bullish Patterns

We still have two live bullish upside targets of 6,555 and 6,745, which could be with us for a while going forward. For the S&P 500 to get there, it will need to form new, smaller versions of the trading boxes.

Failed Bearish Patterns

In the chart below, you can view a rising wedge pattern on the recent price action, the third since April. The prior two wedges broke down briefly and did not lead to a major downturn. The largest pullbacks in each case occurred after the S&P 500 dipped below the lower trendline of the pattern.

The deepest drawdown so far is 3.5%, which is not exactly a game-changer. Without downside follow-through, a classic bearish pattern simply can’t be formed, let alone be broken down from.

We’ll continue to monitor these formations as they develop because, at some point, that will change.

For decades, T-shirts, sweatshirts and other clothing under the Columbia Sportswear brand and clothing emblazoned with the Columbia University name coexisted more or less peacefully without confusion.

But now, the Portland-based outdoor retailer has sued the New York-based university over alleged trademark infringement and a breach of contract, among other charges. It claims that the university’s merchandise looks too similar to what’s being sold at more than 800 retail locations including more than 150 of its branded stores as well as its website and third-party marketplaces.

In a lawsuit filed July 23 in the U.S. District Court for the District of Oregon, Columbia Sportswear, whose roots date back to 1938, alleges that the university intentionally violated an agreement the parties signed on June 13, 2023. That agreement dictated how the university could use the word “Columbia” on its own apparel.

As part of the pact, the university could feature “Columbia” on its merchandise provided that the name included a recognizable school insignia or its mascot, the word “university,” the name of the academic department or the founding year of the university — 1754 — or a combination.

But Columbia Sportswear alleges the university breached the agreement a little more than a year later, with the company noticing several garments without any of the school logos being sold at the Columbia University online store.

Many of the garments feature a bright blue color that is “confusingly similar” to the blue color that has long been associated with Columbia Sportswear, the suit alleged.

The lawsuit offered photos of some of the Columbia University items that say only Columbia.

“The likelihood of deception, confusion, and mistake engendered by the university’s misappropriation and misuse of the Columbia name is causing irreparable harm to the brand and goodwill symbolized by Columbia Sportswear’s registered mark Columbia and the reputation for quality it embodies,” the lawsuit alleged.

The lawsuit comes at a time when Columbia University has been threatened with the potential loss of billions of dollars in government support.

Last week, Columbia University reached a deal with the Trump administration to pay more than $220 million to the federal government to restore federal research money that was canceled in the name of combating antisemitism on campus.

Under the agreement, the Ivy League school will pay a $200 million settlement over three years, the university said.

Columbia Sportswear aims to stop all sales of clothing that violate the agreement, recall any products already sold and donate any remaining merchandise to charity. Columbia Sportswear is also seeking three times the amount of actual damages determined by a jury.

Neither Columbia Sportswear or Columbia University couldn’t be immediately reached for comment.

This post appeared first on NBC NEWS

LAS VEGAS — When Susana Pacheco accepted a housekeeping job at a casino on the Las Vegas Strip 16 years ago, she believed it was a step toward stability for her and her 2-year-old daughter.

But the single mom found herself exhausted, falling behind on bills and without access to stable health insurance, caught in a cycle of low pay and little support. For years, she said, there was no safety net in sight — until now.

For 25 years, her employer, the Venetian, had resisted organizing efforts as one of the last holdouts on the Strip, locked in a prolonged standoff with the Culinary Workers Union. But a recent change in ownership opened the Venetian’s doors to union representation just as the Strip’s newest casino, the Fontainebleau, was also inking its first labor contract.

The historic deals finalized late last year mark a major turning point: For the first time in the Culinary Union’s 90-year history, all major casinos on the Strip are unionized. Backed by 60,000 members, most of them in Las Vegas, it is the largest labor union in Nevada. Experts say the Culinary Union’s success is a notable exception in a national landscape where union membership overall is declining.

“Together, we’ve shown that change can be a positive force, and I’m confident that this partnership will continue to benefit us all in the years to come,” Patrick Nichols, president and CEO of the Venetian, said shortly after workers approved the deal.

Pacheco says their new contract has already reshaped her day-to-day life. The housekeeper no longer races against the clock to clean an unmanageable number of hotel suites, and she’s spending more quality time with her children because of the better pay and guaranteed days off.

“Now with the union, we have a voice,” Pacheco said.

These gains come at a time when union membership nationally is at an all-time low, and despite Republican-led efforts over the years to curb union power. About 10% of U.S. workers belonged to a union in 2024, down from 20% in 1983, the first year for which data is available, according to U.S. Bureau of Labor statistics.

President Donald Trump in March signed an executive order seeking to end collective bargaining for certain federal employees that led to union leaders suing the administration. Nevada and more than two dozen other states now have so-called “right to work” laws that let workers opt out of union membership and dues. GOP lawmakers have also supported changes to the National Labor Relations Board and other regulatory bodies, seeking to reduce what they view as overly burdensome rules on businesses.

Ruben Garcia, professor and director of the workplace program at the University of Nevada, Las Vegas law school, said the Culinary Union’s resilience stems from its deep roots in Las Vegas, its ability to adapt to the growth and corporatization of the casino industry, and its long history of navigating complex power dynamics with casino owners and operators.

He said the consolidation of casinos on the Las Vegas Strip mirrors the dominance of the Big Three automakers in Detroit. A few powerful companies — MGM Resorts International, Caesars Entertainment and Wynn Resorts — now control most of the dozens of casinos along Las Vegas Boulevard.

“That consolidation can make things harder for workers in some ways, but it also gives unions one large target,” Garcia said.

That dynamic worked in the union’s favor in 2023, when the threat of a major strike by 35,000 hospitality workers with expired contracts loomed over the Strip. But a last-minute deal with Caesars narrowly averted the walkout, and it triggered a domino effect across the Strip, with the union quickly finalizing similar deals for workers at MGM Resorts and Wynn properties.

The latest contracts secured a historic 32% bump in pay over the life of the five-year contract. Union casino workers will earn an average $35 hourly, including benefits, by the end of it.

The union’s influence also extends far beyond the casino floor. With its ability to mobilize thousands of its members for canvassing and voter outreach, the union’s endorsements are highly coveted, particularly among Democrats, and can signal who has the best shot at winning working-class votes.

The union’s path hasn’t always been smooth though. Michael Green, a history professor at UNLV, noted the Culinary Union has long faced resistance.

“Historically, there have always been people who are anti-union,” Green said.

Earlier this year, two food service workers in Las Vegas filed federal complaints with the National Labor Relations Board, accusing the union of deducting dues despite their objections to union membership. It varies at each casino, but between 95 to 98% of workers opt in to union membership, according to the union.

“I don’t think Culinary Union bosses deserve my support,” said one of the workers, Renee Guerrero, who works at T-Mobile Arena on the Strip. “Their actions since I attempted to exercise my right to stop dues payments only confirms my decision.”

But longtime union members like Paul Anthony see things differently. Anthony, a food server at the Bellagio and a Culinary member for nearly 40 years, said his union benefits — free family health insurance, reliable pay raises, job security and a pension — helped him to build a lasting career in the hospitality industry.

“A lot of times it is an industry that doesn’t have longevity,” he said. But on the Strip, it’s a job that people can do for “20 years, 30 years, 40 years.”

Ted Pappageorge, the union’s secretary-treasurer and lead negotiator, said the union calls this the “Las Vegas dream.”

“It’s always been our goal to make sure that this town is a union town,” he said.

This post appeared first on NBC NEWS

The S&P 500 ($SPX) just logged its fifth straight trading box breakout, which means that, of the five trading ranges the index has experienced since the April lows, all have been resolved to the upside.

How much longer can this last? That’s been the biggest question since the massive April 9 rally. Instead of assuming the market is due to roll over, it’s been more productive to track price action and watch for potential changes along the way. So far, drawdowns have been minimal, and breakouts keep occurring. Nothing in the price action hints at a lasting change — yet.

While some are calling this rally “historic,” we have a recent precedent. Recall that from late 2023 through early 2024, the index had a strong start and gave way to a consistent, steady trend.

From late October 2023 through March 2024, the S&P 500 logged seven consecutive trading box breakouts. That streak finally paused with a pullback from late March to early April, which, as we now know, was only a temporary hiccup. Once the bid returned, the S&P 500 went right back to carving new boxes and climbing higher.

New 52-Week Highs Finally Picking Up

If there’s been one gripe about this rally, it’s that the number of new highs within the index has lagged. As we’ve discussed before, among all the internal breadth indicators available, new highs almost always lag — that’s normal. What we really want to see is whether the number of new highs begins to exceed prior peaks as the market continues to rise, which it has, as shown by the blue line in the chart below.

As of Wednesday’s close, 100 S&P 500 stocks were either at new 52-week highs or within 3% of them. That’s a strong base. We expect this number to continue rising as the market climbs, especially if positive earnings reactions persist across sectors.

Even when we get that first day with 100+ S&P 500 stocks making new 52-week highs, though, it might not be the best time to initiate new longs.

The above chart shows that much needs to align for that many stocks to peak in unison, which has historically led to at least a short-term consolidation, if not deeper pullbacks — as highlighted in yellow. Every time is different, of course, but this is something to keep an eye on in the coming weeks.

Trend Check: GoNoGo Still “Go”

The GoNoGo Trend remains in bullish mode, with the recent countertrend signals having yet to trigger a greater pullback.

Active Bullish Patterns

We still have two live bullish upside targets of 6,555 and 6,745, which could be with us for a while going forward. For the S&P 500 to get there, it will need to form new, smaller versions of the trading boxes.

Failed Bearish Patterns

In the chart below, you can view a rising wedge pattern on the recent price action, the third since April. The prior two wedges broke down briefly and did not lead to a major downturn. The largest pullbacks in each case occurred after the S&P 500 dipped below the lower trendline of the pattern.

The deepest drawdown so far is 3.5%, which is not exactly a game-changer. Without downside follow-through, a classic bearish pattern simply can’t be formed, let alone be broken down from.

We’ll continue to monitor these formations as they develop because, at some point, that will change.

The S&P 500 ($SPX) just logged its fifth straight trading box breakout, which means that, of the five trading ranges the index has experienced since the April lows, all have been resolved to the upside.

How much longer can this last? That’s been the biggest question since the massive April 9 rally. Instead of assuming the market is due to roll over, it’s been more productive to track price action and watch for potential changes along the way. So far, drawdowns have been minimal, and breakouts keep occurring. Nothing in the price action hints at a lasting change — yet.

While some are calling this rally “historic,” we have a recent precedent. Recall that from late 2023 through early 2024, the index had a strong start and gave way to a consistent, steady trend.

From late October 2023 through March 2024, the S&P 500 logged seven consecutive trading box breakouts. That streak finally paused with a pullback from late March to early April, which, as we now know, was only a temporary hiccup. Once the bid returned, the S&P 500 went right back to carving new boxes and climbing higher.

New 52-Week Highs Finally Picking Up

If there’s been one gripe about this rally, it’s that the number of new highs within the index has lagged. As we’ve discussed before, among all the internal breadth indicators available, new highs almost always lag — that’s normal. What we really want to see is whether the number of new highs begins to exceed prior peaks as the market continues to rise, which it has, as shown by the blue line in the chart below.

As of Wednesday’s close, 100 S&P 500 stocks were either at new 52-week highs or within 3% of them. That’s a strong base. We expect this number to continue rising as the market climbs, especially if positive earnings reactions persist across sectors.

Even when we get that first day with 100+ S&P 500 stocks making new 52-week highs, though, it might not be the best time to initiate new longs.

The above chart shows that much needs to align for that many stocks to peak in unison, which has historically led to at least a short-term consolidation, if not deeper pullbacks — as highlighted in yellow. Every time is different, of course, but this is something to keep an eye on in the coming weeks.

Trend Check: GoNoGo Still “Go”

The GoNoGo Trend remains in bullish mode, with the recent countertrend signals having yet to trigger a greater pullback.

Active Bullish Patterns

We still have two live bullish upside targets of 6,555 and 6,745, which could be with us for a while going forward. For the S&P 500 to get there, it will need to form new, smaller versions of the trading boxes.

Failed Bearish Patterns

In the chart below, you can view a rising wedge pattern on the recent price action, the third since April. The prior two wedges broke down briefly and did not lead to a major downturn. The largest pullbacks in each case occurred after the S&P 500 dipped below the lower trendline of the pattern.

The deepest drawdown so far is 3.5%, which is not exactly a game-changer. Without downside follow-through, a classic bearish pattern simply can’t be formed, let alone be broken down from.

We’ll continue to monitor these formations as they develop because, at some point, that will change.

The S&P 500 ($SPX) just logged its fifth straight trading box breakout, which means that, of the five trading ranges the index has experienced since the April lows, all have been resolved to the upside.

How much longer can this last? That’s been the biggest question since the massive April 9 rally. Instead of assuming the market is due to roll over, it’s been more productive to track price action and watch for potential changes along the way. So far, drawdowns have been minimal, and breakouts keep occurring. Nothing in the price action hints at a lasting change — yet.

While some are calling this rally “historic,” we have a recent precedent. Recall that from late 2023 through early 2024, the index had a strong start and gave way to a consistent, steady trend.

From late October 2023 through March 2024, the S&P 500 logged seven consecutive trading box breakouts. That streak finally paused with a pullback from late March to early April, which, as we now know, was only a temporary hiccup. Once the bid returned, the S&P 500 went right back to carving new boxes and climbing higher.

New 52-Week Highs Finally Picking Up

If there’s been one gripe about this rally, it’s that the number of new highs within the index has lagged. As we’ve discussed before, among all the internal breadth indicators available, new highs almost always lag — that’s normal. What we really want to see is whether the number of new highs begins to exceed prior peaks as the market continues to rise, which it has, as shown by the blue line in the chart below.

As of Wednesday’s close, 100 S&P 500 stocks were either at new 52-week highs or within 3% of them. That’s a strong base. We expect this number to continue rising as the market climbs, especially if positive earnings reactions persist across sectors.

Even when we get that first day with 100+ S&P 500 stocks making new 52-week highs, though, it might not be the best time to initiate new longs.

The above chart shows that much needs to align for that many stocks to peak in unison, which has historically led to at least a short-term consolidation, if not deeper pullbacks — as highlighted in yellow. Every time is different, of course, but this is something to keep an eye on in the coming weeks.

Trend Check: GoNoGo Still “Go”

The GoNoGo Trend remains in bullish mode, with the recent countertrend signals having yet to trigger a greater pullback.

Active Bullish Patterns

We still have two live bullish upside targets of 6,555 and 6,745, which could be with us for a while going forward. For the S&P 500 to get there, it will need to form new, smaller versions of the trading boxes.

Failed Bearish Patterns

In the chart below, you can view a rising wedge pattern on the recent price action, the third since April. The prior two wedges broke down briefly and did not lead to a major downturn. The largest pullbacks in each case occurred after the S&P 500 dipped below the lower trendline of the pattern.

The deepest drawdown so far is 3.5%, which is not exactly a game-changer. Without downside follow-through, a classic bearish pattern simply can’t be formed, let alone be broken down from.

We’ll continue to monitor these formations as they develop because, at some point, that will change.

JPMorgan Chase has built 1,000 new branches in seven years. That’s more locations than most of its competitors operate in total.

The bank is marking the milestone opening in Charlotte, North Carolina, on Thursday where Chairman and CEO Jamie Dimon is attending a ribbon-cutting ceremony. The firm has roughly 5,000 branches, the most of any American bank, according to Federal Reserve data from March.

“It’s a great marker for us to be able to say, you can see our commitment over time and we’re on a marathon with regard to this expansion,” said Jennifer Roberts, the CEO of Chase Consumer Banking, in an interview. “A thousand [branches] is significant — a thousand is bigger than many regional competitors have at all.”

In 2018, JPMorgan operated bank branches in 23 states and said it would expand into as many as 20 new markets over the following five years with about 400 new locations. By 2021, the firm said it had branches in all 48 lower states. And last February, JPMorgan announced a new, multibillion-dollar investment to open another 500 new locations by 2027.

JPMorgan said over the past seven years, Chase has opened more bank branches than all of its large bank peers combined. However, many of JPMorgan’s competitors have recently announced plans to expand their own footprints as the quest for deposits heats up.

Bank of America recently announced a branch expansion, with plans to open 150 new centers by 2027. And Wells Fargo plans to add branches, especially now that it’s fulfilled a regulatory consent order that had been constraining its growth.

The industry-wide growth plans could help reverse a trend dating back to the 2008 financial crisis in which the U.S. has seen the net number of bank branches plummet. The combination of fewer overall banks and the advent of online banking has broadly made brick-and-mortar locations lower priority. However, in recent years, especially amid the population migration during and after the pandemic, banks have been reorienting their footprints to capture more deposits.

Expanding in Charlotte puts JPMorgan head-to-head with rival Bank of America, which is headquartered there and has 71% market share in the city, according to KBW and S&P Global Market Intelligence data.

Roberts said after this latest opening, Chase will have about 75 branches in North Carolina. She said that the bank is expanding there due to its “young, fast-growing population” and that there’s a “lot of wealth coming into that area” as well.

JPMorgan said at its investor day in May that its newer branches are expected to ultimately contribute more than $160 billion in incremental deposits. The firm said each new branch breaks even within four years.

JPMorgan said when its expansion is complete, Chase will have added more than 1,100 branches, renovated 4,300 locations and entered 80 new markets. It also expects that 75% of the U.S. population will be able to reach one of its branches within an “accessible drive.”

This post appeared first on NBC NEWS