Jamie Dimon’s comments follow JPMorgan’s decision late last year to drop a case filed against Tesla in 2021, which had sought $162.2 million plus fees over a dispute regarding stock warrant transactions.

At current trends the charity Oxfam predicts up to five trillionaires are expected to emerge within the next decade.

It’s that time of the year again: from January 20 to 24, the world’s business and political elite is headed to Davos, Switzerland for the Annual Meeting of the World Economic Forum.

A version of this article originally appeared in Quartz’s Need to Know: Davos newsletter. To get updates on the World Economic Forum delivered straight to your inbox all week, sign up here.

Welcome to CNBC’s live blog covering all the latest news, views and action on day 3 of the World Economic Forum in Davos, Switzerland.

"We actually no longer call it EV. We call it EIV. 'I' stands for intelligent," Pan Jian, a cochair of CATL, told a WEF panel in Davos, Switzerland.

A change in the H-1B visa policy for highly skilled professionals from India under Trump 2.0 would be "fantastic" for the US as it needs them, American economist Kenneth Rogoff told NDTV at the World Economic Forum (WEF) meeting in Davos.

Jamie Dimon said that he and Elon Musk settled their differences. This seemingly concluded their row, sparked by a legal fight between JPMorgan and Tesla.

The U.S. posted a record trade deficit in good in 2024, spotlighting what is likely to be constant eye sore under the second administration of President Trump as it aims to encourage more production domestically.

"Elon and I hugged it out," Dimon told CNBC in a TV interview at the World Economic Forum's annual event in Davos, Switzerland. "He came to one of our conferences, [and] he and I had a nice, long chat. We settled some of our differences."

In today’s news, shares have risen after yesterday’s positive inflation data, court approves controversial new mansion at $45 million Tamarama site, and how a culture war is tearing apart a private school.

Donald Trump grabbed the spotlight in Davos on Thursday, even if he wasn't physically there, but other things happened at the annual meeting of world elites in the Swiss ski village.