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The boss of Wall Street banking giant JPMorgan Chase, Jamie Dimon, has warned investors of the likelihood of a downturn in the US economy, saying that “something worse” than a hard recession could be on the horizon.

Billionaire Oleg Deripaska, founder of aluminum giant Rusal and once Russia’s richest man, has filed a lawsuit against banking tycoon Oleg Tinkov, RBK reported on Monday. The lawsuit was filed for offensive remarks that Tinkov, who set up one of Russia’s largest private banks, posted on Instagram earlier this year.