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JPMorgan Chase CEO Jamie Dimon defended his position against remote work to a group of college students, telling them that telework "doesn't work in our business."
Dimon, 68, said he "had enough" of virtual working when speaking to students at Stanford University's Graduate School of Business last week.
A student asked the bank executive about his leaked and expletive remarks from a company town hall addressing the firm's end of hybrid work, which has become a common workplace practice in recent years, particularly after the coronavirus pandemic.
He was asked by the student for advice on how to address the issue of virtual work.
JPMORGAN CEO JAMIE DIMON ON DOGE EFFORTS: 'HOPING IT'S QUITE SUCCESSFUL'
Dimon responded that the only group of people frustrated with the return to the office are "the people in the middle," such as corporate office workers.
"If you work in a restaurant, you've got to be in," he said. "You all may not know this, but 60% of Americans worked the whole time."
"Where did you get your Amazon packages from? Your beef, your meat, your vodka? Where did you get the diapers from?" he continued, referring to people who have never had the option to work remotely, even during the pandemic.
Dimon added: "You got UPS and FedEx and manufacturers and agriculture and hospitals and cities and schools and nurses and sanitation and firemen and military. They all worked."
Some workers in both the government and the private sector who have been permitted to work remotely since the pandemic have been critical of return-to-office mandates in recent years.
JPMORGAN CHASE MAKES MOVE TO PREVENT RELIGIOUS, POLITICAL 'DEBANKING'
There have been some who have even quit over the return to the office requirement, which Dimon said he respects.
"We have 10% of our people working at home full-time," Dimon said. "We put virtual call centers in Baltimore and Detroit. We did it to see if they'd be effective. They're highly effective. They work from home. They're mostly minorities. That's why we did it. It's a home run. So I'm not against it where it works ... I also completely defend your right to say, 'I don't want to.'"
"But I don't defend your right to tell me what JPMorgan's gonna do," he added. "So you have a free market. You can do one thing, I can do another. That's what's called a free market."
JPMorgan Chase had earlier announced that employees must return to the office five days a week, beginning this month.
Dimon also said he wanted people back in the office because "younger people are being left behind."
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"It's not like the first month you're working," he said. "It's by the second year you have less people, you're put on less assignments, you know less what's going on, you have less conversations at the water cooler or in the cafeteria. So it's leaving them behind. I won't do that. And to have the younger people coming in but not their bosses, I have a problem with that too. And then people say to me always, 'well, it works for me.'"
He also stressed the importance of communication with coworkers in the office that may not be possible with remote work.
"As a management tool, when we meet in the morning, we talk, we have these debates, all day long we're talking. 'Hey, no, I checked on that, you're right about that, here's what I think we should do.' All day long, constant update, constant share of information. So I tell you, it doesn't work in our business. And for culture, you talk about culture, it's impossible to do culture," Dimon said.
Dimon also said people are often distracted by their phones during Zoom meetings.

via: https://www.foxbusiness.com/economy/jpmorgan-ceo-jamie-dimon-says-remote-work-doesnt-work-our-busines

President Donald Trump's 25% tariff increase on all steel and aluminum imports officially took effect on Wednesday, the latest move in the administration's plans to reshape global trade norms in favor of U.S. manufacturing.  
Trump's action to bulk up protections for American steel and aluminum producers restores effective global tariffs of 25% on all imports of the metals and extends the duties to hundreds of downstream products made from the metals, from nuts and bolts to bulldozer blades and soda cans.
The run-up to the tariff deadline came with some drama on Tuesday as Trump threatened Canada with doubling the duty to 50% on its steel and aluminum exports to the U.S. 
He backed off those plans after Ontario Premier Doug Ford agreed to suspend his province's decision to impose a 25% surcharge on electricity exports to the states of Minnesota, Michigan and New York until earlier U.S. tariffs were removed.
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This is a developing story. Check back for updates. 
Reuters contributed to this report. 

via: https://www.foxbusiness.com/politics/trumps-25-percent-tariff-increase-all-steel-aluminum-imports-takes-effec

I interviewed Elon Musk yesterday in the Indian Treaty Room at the Old Executive Office Building, across the street from the White House.
He was open, honest, transparent, and committed to preventing this country from falling deeper into an entitlement state that will wind up in bankruptcy.
He has been subjected to extraordinary criticism from Democrats and their left-wing allies.
But President Donald Trump, time and again, has given Elon his full and complete backing.
And although Musk is not really a political man, he understands perfectly well that the entitlement state - shot through with waste, fraud, and corruption - is essentially the Democratic Party feeding at the taxpayer trough, and attracting illegal immigrants. Spot-on analysis from a non-politician.
Musk is a man on a mission.
I asked him if he heard a call to action. He easily agreed, and told me his wake-up call was seeing that America's interest payments on the debt now exceed the entire military budget. The mission is simple - keep America from going bankrupt.
Musk's team at DOGE numbers a hundred so far, but he intends to drive it up to 200.
Their audit has already spread to most of the federal agencies according to Elon, something I did not realize.
He's got a website at DOGE.gov, which ensures the total transparency of his operation.
If you want to look under the hood at what Elon and his team are doing, just go to his website, where they are reporting line-by-line every contract they cancel, every lease they tear up, and score each agency based on how much they've cut.
As he said to me, if you disagree with our recommendations, just tell us exactly which line you object to.
We've had government audits before. For example, the GAO last year did an audit that estimated over $500 billion in waste, fraud, and abuse. But no one ever actually acted on this.
Musk is aiming for $1 trillion. And Office of Management and Budget Director Russell Vought told me that the DOGE savings will be implemented into a rescission package that will strike out Congressional authorizations - an action that needs only simple majorities in the House and Senate in order to enact.
Musk told me he's acting as a consultant to the Cabinet secretaries throughout the government. Just recently, Secretary of State Marco Rubio adopted over 80% of the DOGE recommendations to cancel most of USAID.
And here's the thing: Musk has taken tremendous criticism, undoubtedly because Democrats and their allies don't want to lose their foothold in the permanent ultra-liberal bureaucracy that Mr. Musk is tearing down.
Here's what he said:
Meanwhile, his life has been threatened on the Internet, several of his electric charging stations have been set on fire, at least one Tesla dealership got shot up with live bullets - though fortunately no one was there at the time. Other Tesla dealerships have been subjected to protests and demonstrations.
Even he acknowledges that his businesses have probably suffered, while he spends his time in the White House. But he remains committed.
He told me he was going to go at least another year, maybe longer.
And then, finally, I put a question to him that had nothing to do with DOGE. I simply asked if he will bring back our astronauts, left stranded in space by Joe Biden. His answer? No hesitation: yes. We're going to get them back.
Wow. A dedicated patriot, indeed.

via: https://www.foxbusiness.com/politics/larry-kudlow-elon-musk-dedicated-patrio

President Donald Trump bought a Tesla vehicle outside the White House on Tuesday afternoon during an event with Tesla CEO Elon Musk.
Speaking in front of reporters, Trump told Musk that he would write him a check to buy the Tesla Model S in full.
"I like a check better than this modern system of, all of a sudden, there's money in your account," Trump said. "I like signing a check!"
"I know he'd give me a discount, but honestly, I don't want to ask for one," Trump also told the press gaggle. "You know, I'm president, and so I want to pay full price."
TRUMP SAYS HE WILL BUY A TESLA TO SUPPORT ELON MUSK AND HIS 'BABY'
Before purchasing the vehicle, Trump said that his top reason was because the Tesla vehicle was "a great product, as good as it gets."
"And number two, because this man [Elon Musk] has devoted his energy and his life to doing this," Trump continued. 
The Republican went on to praise Musk, saying that he's "been treated very unfairly by a very small group of people."
"And I just want people to know that he can't be penalized for being a patriot," Trump said. "And he's a great patriot. And he's also done an incredible job with Tesla."
Trump also confirmed that he would not test-drive the car, saying that he "[likes] to drive cars, but [is] not allowed to," and that he also bought a Cybertruck for his granddaughter Kai.
TESLA VEHICLES, CHARGING STATIONS TARGETED AS PROTESTERS DENOUNCE DOGE, ELON MUSK
"The Cybertruck I bought for a very special young woman," Trump said. "I'm sure you've never heard of her, Kai, and she's a great golfer, and she puts the clubs in the back."
He also confirmed that his new Tesla vehicle will be driven by White House staff, including communications advisor Margo Martin.
"My whole staff is so excited because I told them they're going to safely use them, and they can't believe it," Trump said. "Margo, she's going to use it. They're all going to be using it and they're going to have a good time using it. "
Musk thanked Trump "for his support," telling the president that it "means a lot."
"[I want to] thank everyone out there who is supporting Tesla," Musk continued. "It's really terrible that there's so much violence being perpetrated against people at Tesla, Tesla supporters, Tesla owners, Tesla stores. These are innocent people who have done nothing wrong."
Video posted by the Rapid Response 47 X account shows the president marveling at the red, white and blue vehicles and hopping in the driver's seat of a red Model S. Sitting in the Model S, Trump joked about former President Joe Biden.
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"You think Biden could get into that car? I don't think so," he said to reporters.

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Rideshare giant Lyft is launching a service geared toward elderly riders later this year, FOX Business has learned.
Dubbed Lyft Silver, it will feature a simpler design with easy access to support for its riders.
"We're actively exploring fresh ways to enhance the Lyft experience for an even wider range of riders," a Lyft spokesperson told FOX Business, adding that the waitlist for the new offering opened Tuesday. 
LYFT UNVEILS FEATURE TO HELP RIDERS AVOID SURGE PRICING
Users who sign up will be notified when the service arrives in their area.
The new feature highlights the ongoing battle between Lyft and Uber. Both companies have consistently rolled out similar features that are better tailored to customers in a bid to capture more market share.
Last May, Uber launched Uber Caregiver, which is designed specifically for caregivers to request and monitor rides and deliveries for loved ones as well as arrange payments using health benefits.
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Last September, Lyft announced it was launching a feature to help lock in ride prices. The feature, which costs $2.99 per month, is aimed at helping daily commuters avoid surge pricing. 
Similarly, Uber is in the midst of rolling out its own version. Price Lock Pass, also at $2.99 per month, helps riders lock in prices for routes they take consistently at the same time. The service is in select markets in the U.S. 
Both companies have also launched features aimed at easing the stress of airport travel.

via: https://www.foxbusiness.com/lifestyle/lyft-launch-feature-elderly-passengers-later-yea

Tesla's stock rebounded on Tuesday following a steep decline to start the week after President Donald Trump published a post on social media defending the company's CEO Elon Musk amid his work for the administration - even bringing a Tesla to the White House.
Tesla stock declined more than 15% on Monday in the wake of sluggish sales in the U.S. and abroad, as well as uncertainty surrounding Elon Musk's focus on the company, given his involvement with the Trump administration and other companies like SpaceX and his social media platform X. Tesla stock was up about 4.8% as of 1:30 p.m. ET during Tuesday's trading session.
Trump wrote in a post on his social media site, Truth Social, that Musk is "'putting it on the line in order to help our Nation, and he is doing a FANTASTIC JOB! But the Radical Left Lunatics, as they often do, are trying to illegally and collusively boycott Tesla, one of the World's great automakers, and Elon's 'baby,' in order to attack and do harm to Elon, and everything he stands for."
"They tried to do it to me at the 2024 Presidential Ballot Box, but how did that work out? In any event, I'm going to buy a brand new Tesla tomorrow morning as a show of confidence and support for Elon Musk, a truly great American," Trump wrote Monday. "Why should he be punished for putting his tremendous skills to work in order to help MAKE AMERICA GREAT AGAIN???"
TRUMP SAYS HE WILL BUY A TESLA TO SUPPORT ELON MUSK AND HIS 'BABY'
Musk was a prominent backer of Trump's presidential campaign and proposed creating the Department of Government Efficiency (DOGE), which he is leading in its efforts to cut what the administration views as fraud, waste and abuse.
The billionaire's political involvement has prompted pushback from protesters who have held demonstrations and, in some cases, vandalized Tesla vehicles, charging stations and dealerships.
TESLA VEHICLES, CHARGING STATIONS TARGETED AS PROTESTERS DENOUNCE DOGE, ELON MUSK
Last Thursday, The Associated Press reported that a Tesla dealership in Oregon near Portland was targeted with gunshots, damaging multiple cars and shattering windows. A man was also recently arrested after Molotov cocktails were thrown at a Tesla dealership in Salem, Oregon, the Statesman-Journal reported.
Several Tesla charging stations have also been set on fire in Massachusetts. Brookline police recently arrested a Boston man caught on video allegedly tagging Tesla vehicles with Musk decals and sharing the footage on X.
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Last week, federal prosecutors in Colorado charged 42-year-old Lucy Grace Nelson, also known as Justin Thomas Nelson, after police found a number of explosives and concerning messages at a Colorado Tesla dealership.
Fox News Digital's Alexandra Koch contributed to this report.

via: https://www.foxbusiness.com/politics/tesla-rebounds-after-trump-defends-mus

The premier of Ontario, Canada, Doug Ford, has agreed to suspend its 25% surcharge on electricity exported to Michigan, Minnesota and New York.
Ford and U.S. Secretary of Commerce Howard Lutnick issued a joint statement on the matter Tuesday, saying the two of them had a productive conversation about the economic relationship between the U.S. and Canada.
"Secretary Lutnick agreed to officially meet with Premier Ford in Washington on Thursday, March 13, alongside the United States Trade Representative, to discuss a renewed USMCA [United States-Mexico-Canada Agreement] ahead of the April 2 reciprocal tariff deadline," Ford shared in a post on X. "In response, Ontario agreed to suspend its 25 percent surcharge on exports of electricity to Michigan, New York and Minnesota."
The agreement came after President Donald Trump threatened to impose further tariffs on Canadian steel, aluminum, electricity and vehicles on Tuesday.
TRUMP THREATENS FURTHER TARIFFS ON CANADIAN STEEL, ALUMINUM, ELECTRICITY, VEHICLES
In response to Ontario placing a 25% tariff on electricity coming into the U.S., Trump said he instructed Lutnick to add another 25% tariff on all steel and aluminum coming into the United States from Canada. The new 50% tariff was scheduled to go into effect Wednesday morning.
Trump made the announcement on Truth Social, deeming Canada "ONE OF THE HIGHEST TARIFFING NATIONS ANYWHERE IN THE WORLD." 
CANADIANS FEEL 'UNDER ECONOMIC ATTACK,' FRUSTRATION WITH US OVER TRUMP TARIFFS, ANNEXATION TALK: AMBASSADOR
Ford imposed 25% tariffs on electricity exports from the Canadian province to the U.S. states of Michigan, New York and Minnesota on Monday.
Speaking to reporters in front of a podium that read "Canada is not for sale," Ford said the surcharge would cost families and businesses in those states up to $400,000 every day. On average, Ontario's premier said it would add about $100 per month to "the bills of hardworking Americans."
TRUMP SAYS HE PAUSED SOME TARIFFS TO 'HELP' MEXICO AND CANADA TO A 'CERTAIN EXTENT'
"Let me be clear: I will not hesitate to increase this charge," Ford said at the time of the announcement. "If necessary, if the United States escalates, I will not hesitate to shut the electricity off completely. Believe me when I say I do not want to do this. I feel terrible for the American people because it's not the American people who started this trade war. It's one person who's responsible. That's President Trump."
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In a follow-up post later on Tuesday, Trump asked, "Why would our Country allow another Country to supply us with electricity, even for a small area?""Who made these decisions, and why," Trump added. "And can you imagine Canada stooping so low as to use ELECTRICITY, that so affects the life of innocent people, as a bargaining chip and threat? They will pay a financial price for this so big that it will be read about in History Books for many years to come!"
Fox Business' Danielle Wallace contributed to this report.

via: https://www.foxbusiness.com/politics/ontario-premier-backs-down-suspends-electricity-surcharge-us-trump-tariff-threats-canadian-metal

Tesla CEO Elon Musk announced on Tuesday that Tesla will double its vehicle output in the United States within the next two years. 
He called it "an act of faith in America" and said he was making the commitment because of "the great policies of President Trump and his administration."
The billionaire tech mogul made the announcement alongside President Donald Trump at the White House. 
Trump said earlier Tuesday in a post on Truth Social that he'd purchase a new Tesla vehicle as protests against Musk continue nationwide.
TRUMP SAYS HE WILL BUY A TESLA TO SUPPORT ELON MUSK AND HIS 'BABY'
Several Tesla vehicles were parked just outside the White House on Tuesday. The different models, including a Cybertruck, were noticeably red, white and blue.
Tesla stock rebounded on Tuesday, rising over 5% a day after the stock dropped more than 15% amid soft demand for EVs, while critics have also taken issue with Musk's political involvement.
Musk was a prominent backer of Trump's presidential campaign and proposed creating the Department of Government Efficiency (DOGE), which he is leading in its efforts to cut what the administration views as fraud, waste and abuse in the federal budget.
TESLA SHARES SLIDE AMID MARKET SELL-OFF ON RECESSION WORRIES, TARIFF UNCERTAINTY
The billionaire's political involvement has prompted pushback from protesters who have held demonstrations and, in some cases, vandalized Tesla vehicles, charging stations and dealerships.
Last Thursday, the AP reported that a Tesla dealership in Oregon near Portland was targeted with gunshots, damaging multiple cars and shattering windows. A man was also recently arrested after Molotov cocktails were thrown at a Tesla dealership in Salem, Oregon, the Statesman-Journal reported.
Several Tesla charging stations have also been set on fire in Massachusetts. Brookline police recently arrested a Boston man caught on video allegedly tagging Tesla vehicles with Musk decals and sharing the footage on X.
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Last week, federal prosecutors in Colorado charged 42-year-old Lucy Grace Nelson, also known as Justin Thomas Nelson, after police found a number of explosives and concerning messages at a Colorado Tesla dealership.
Fox News Digital's Alexandra Koch contributed to this report.

via: https://www.foxbusiness.com/politics/musk-announces-tesla-double-vehicle-output-us-within-next-2-years-act-faith-americ

Ontario Premier Doug Ford is acting "egregious" and "insulting" with his threat to cut off electricity to Americans over tariffs, the White House said Tuesday. 
White House Press Secretary Karoline Leavitt made the remark after Ford imposed 25% tariffs on electricity exports from the Canadian province to the states of Michigan, New York and Minnesota on Monday. He also said "If necessary, if the United States escalates, I will not hesitate to shut the electricity off completely." 
In response, Trump said on Truth Social that he instructed Commerce Secretary Howard Lutnick to add another 25% tariff on all steel and aluminum coming into the United States from Canada. That new 50% tariff will go into effect Wednesday morning. 
"As for the tariffs, the president made his position on this quite clear with the statement that he put out. And it was a retaliatory statement due to the escalation of rhetoric that we've seen out of Ontario, Canada. The president saw the premier, Doug Ford, make an egregious and insulting comment -- threatening to shut down electricity for the American people, for hardworking American families," Leavitt said Tuesday.  
TRUMP THREATENS FURTHER TARIFFS ON CANADIAN STEEL, ALUMINUM, ELECTRICITY, VEHICLES 
"He made that threat. The president saw that and has an obligation and a responsibility to respond accordingly and represent the interests of the American people," she continued.  
"So he has made the decision to add a 25% tariff, so now steel and aluminum tariffs will come into effect tomorrow at the rate of 50%. And our steel and aluminum industries have actually applauded these tariffs because again, they know it's going to grow their industry here. It's going to allow them to export more steel that is made right here in the United States, with American workers," Leavitt concluded. 
She also said Tuesday to "Think about what the tariff policy long term will do for our country." 
"I think, many of us probably grew up in small towns. I know, at least I did. And the main street in my small town looks a heck of a lot worse than it probably did decades ago, before I was alive at least, my parents and grandparents tell me so. And I know many Americans feel that same way," Leavitt told reporters. 
ALUMINUM GIANT SOUNDS ALARM OVER TRUMP'S NEW TARIFF THREAT 
"What the president envisions for this country is for the United States of America to be a manufacturing superpower, where there are American factories and businesses owned by Americans producing goods that we are exporting to the rest of the world," she declared. "Those revenues will stay here. It will increase wages for people here in our great country. It will ensure our national security, and it will boost the morale of the American people to have thriving industries again." 
Speaking to reporters in front of a podium that read "Canada is not for sale," Ford said Monday that the electricity surcharge would cost families and businesses in Michigan, New York and Minnesota up to $400,000 every day. On average, Ontario's premier said it would add about $100 per month to "the bills of hardworking Americans." 
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"Let me be clear: I will not hesitate to increase this charge," Ford said. "If necessary, if the United States escalates, I will not hesitate to shut the electricity off completely. Believe me when I say I do not want to do this. I feel terrible for the American people because it's not the American people who started this trade war. It's one person who's responsible. That's President Trump." 
FOX Business' Danielle Wallace contributed to this report. 

via: https://www.foxbusiness.com/politics/white-house-says-ontarios-doug-ford-acting-egregious-insulting-threat-cut-off-electricit

Former Anheuser-Busch executive Anson Frericks wrote in the New York Times on Tuesday that the large-scale embrace of Diversity, Equity, and Inclusion (DEI) initiatives at his former employer and in corporate America in general was destined for failure. 
"The massive corporate embrace of D.E.I. was always destined to fail, in large part because the movement was never well defined to begin with," Frericks wrote in his Times guest essay, noting that he left the beer giant in 2022. "Anheuser-Busch became the poster child of what went wrong with the D.E.I. movement."
In the piece, headlined "Working at Anheuser-Busch, I Saw What Went Wrong With the D.E.I. Movement," Frericks detailed where he thinks the company went wrong in its partnership with transgender influencer Dylan Mulvaney, as well as its focus on DEI.
"I believe Anheuser-Busch, like many companies, stands at a crossroads. It can struggle under a polarizing policy, or it can help lead American business back to the principles that made it great in the first place - principles that unite rather than divide, that reward results rather than identity," Frericks continued.
BUD LIGHT PARENT ANHEUSER-BUSCH TO HELP DISTRIBUTORS AMID MULVANEY CONTROVERSY
Frericks said that when he worked at Anheuser-Busch, he believed the company could make millions if it agreed to distribute canned coffees made by Black Rifle Coffee Company, a veteran-owned company with a very pro-military message.  
"The proposal was rejected. It was early 2022, two years after the George Floyd protests, and I was told that being associated with Black Rifle was too politically provocative, especially in progressive circles," he wrote.
"I should have seen it coming. Many corporations were flexing their credentials in the growing diversity, equity and inclusion movement. But for me, the incident was a particularly telling example of what was going wrong with Anheuser-Busch - and an early sign that too many American corporations had forgotten who their customers were," Frericks continued.
Frericks noted that the company couldn't win after Mulvaney went viral. Progressives, in addition to the conservative backlash, were upset with the company for not being more vocal in its support for Mulvaney. 
TRANS ACTIVIST DYLAN MULVANEY BREAKS SILENCE ON BUD LIGHT CONTROVERSY: 'I GREW UP IN A CONSERVATIVE FAMILY'
"But the D.E.I. movement demanded that companies pursue the same progressive goals, regardless of their mission and culture. When Anheuser-Busch embraced D.E.I., the partnership felt inauthentic. And that's why it backfired," the former Anheuser-Busch executive wrote. 
Anheuser-Busch did not immediately respond to a request for comment from Fox News Digital.
Frericks also described other ways Anheuser-Busch pushed DEI.
"Then the company created annual performance targets linked to the company's environmental, social and governance strategy, of which D.E.I. was one component, for thousands of employees. It was clear to me that if teams didn't check the right boxes, managers could be punished. Promotions could be withheld. Bonuses could be lost. That year, senior executives, including me, attended weekly meetings to discuss D.E.I. initiatives," he wrote.
He said that many companies' commitment to DEI was "performative," pointing to how fast they pulled back their DEI policies. 
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In a December op-ed for Fox News Digital, Frericks wrote that Trump's re-election could allow "corporations can once again unapologetically focus on delivering value for shareholders." 
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"Companies wasted billions of dollars on stakeholder-favored ESG and DEI programs that didn't deliver shareholder value, and in many cases, destroyed it. Nor was society any better off. Inflation was high, wage growth was low, and consumer confidence was muted. Society was more polarized than ever heading into the election," he wrote.

via: https://www.foxbusiness.com/media/ex-anheuser-busch-executive-blames-dei-companys-misstep