Global financial system

Big companies are looking to insulate themselves from recession

Jamie Dimon.
Jamie Dimon. Photo: Justin Sullivan/Getty Images

JPMorgan CEO Jamie Dimon is considering selling off the company's Manhattan headquarters and cutting or relocating employees to U.S. cities that boast cheaper costs and better tax benefits.

What's happening: It's part of a plan to insulate the company from a looming economic downturn, Bloomberg reported Monday, citing anonymous sources.

ECB head Mario Draghi is saved by the bell

Illustration: Aïda Amer/Axios

The eurozone is an escalating mess and European Central Bank president Mario Draghi is getting out right at the buzzer.

Driving the news: Draghi delivered his final press conference as head of the ECB on Thursday, keeping rates in the 19-member bloc unchanged following the controversial announcement of an interest rate cut to -0.5% and a $22 billion a month bond-buying program at September's meeting.