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JPMorgan Chase and Co

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  • NEW YORK, May 20- Five of the world's largest banks, including JPMorgan Chase& Co and Citigroup Inc, were fined roughly $5.7 billion, and four of them pleaded guilty to U.S. criminal charges over manipulation of foreign exchange rates, authorities said on Wednesday. British banks Barclays Plc will pay $650 million in criminal penalties and Royal Bank of Scotland...

  • *Barclays fined $2.4 bln, fires 8 employees. *Citi, Barclays, JP Morgan and RBS plead guilty. Traders at Citigroup, JP Morgan, Barclays and Royal Bank of Scotland, who described themselves as "The Cartel", used an invitation-only electronic chatroom and coded language to manipulate the price of U.S. dollars and euros between December 2007 and January 2013, according to...

  • Traders at JPMorgan Chase, Citigroup's banking unit Citicorp, Barclays and the Royal Bank of Scotland were accused of working together to manipulate rates on the foreign exchange market, where hundreds of billions of dollars and euros change hands back and forth. The penalties are a victory for the government and reflect a broader effort by the Justice...

  • NEW YORK/ WASHINGTON, May 20- Authorities fined five of the world's largest banks, including JPMorgan Chase& Co and Citigroup inc, roughly $5.7 billion, and four of them agreed to plead guilty to U.S. criminal charges over manipulation of foreign exchange rates, the U.S. Department of Justice said on Wednesday. U.S. banks JPMorgan Chase and Citigroup will pay $550...

  • NEW YORK/ WASHINGTON, May 20- Authorities fined five of the world's largest banks, including JPMorgan Chase& Co and Citigroup, roughly $5.7 billion and four of them agreed to plead guilty to U.S. criminal charges over manipulation of foreign exchange rates, the U.S. Department of Justice said on Wednesday.

  • Lowe's earnings, revenue miss estimates Wednesday, 20 May 2015 | 7:16 AM ET
    An employee helps a customer shop for a sander at a Lowe's home improvement store in Chicago.

    Lowe's stock went on a skid after the home improvement retailer reported earnings and revenue that fell short of expectations.

  • LONDON, May 20- Swiss bank UBS said it has settled a probe by U.S. authorities over alleged rigging of currency markets and will pay $342 million to the Federal Reserve. UBS said it would also pay a $203 million penalty and plead guilty to criminal charge with the U.S. Department of Justice, but that relates to manipulation of Libor benchmark interest rates.

  • *JP Morgan, Citigroup, RBS and Barclays next in firing line. ZURICH/ NEW YORK, May 20- UBS will plead guilty to rigging benchmark interest rates and pay $545 million to U.S. authorities to settle their probe into alleged manipulation of foreign exchange rates. The Swiss bank's payment is part of what is expected to be a combined $5 billion settlement by five of the...

  • PARIS, May 20- French telecommunications group Altice SA said it agreed to buy Suddenlink Communications in a deal valuing the company at $9.1 billion to enter the fast-growing U.S. cable sector. Altice is buying 70 percent of Suddenlink from existing shareholders BC Partners, CPP Investment Board and Suddenlink management, it said in a statement on Wednesday.

  • Wednesday's settlement with the U.S. Department of Justice, the Federal Reserve, and the Connecticut Department of Banking follows a settlement UBS reached six months ago with Swiss financial regulator FINMA, which included a fine and bonus curbs. "The conduct of a small number of employees was unacceptable and we have taken appropriate disciplinary actions,"...

  • Japan economy gathers pace in 1Q as recovery takes hold Wednesday, 20 May 2015 | 2:03 AM ET

    TOKYO— Japan's economy grew at a faster-than-expected 2.4 percent annual pace in the January-March quarter, suggesting a recovery is gaining traction despite persisting weakness in corporate and household spending. Overall trends for the economy are positive, said Masamichi Adachi, an economist with JPMorgan in Tokyo. "We see a huge income shift from the oil...

  • U.S. banks JPMorgan and Citigroup and Britain's Barclays and Royal Bank of Scotland are expected to plead guilty to criminal charges with the U.S. Department of Justice related to forex manipulation, people familiar with the matter said. JPMorgan and Citigroup would be the first major U.S. banks to plead guilty to criminal charges in decades.

  • DOJ to announce currency manipulation settlement Tuesday, 19 May 2015 | 6:24 PM ET
    U.S. Department of Justice, Washington, D.C.

    Some major bank holding companies are expected to plead guilty to currency manipulation charges and could pay billions in fees.

  • $34 at a time, banks racked up $2.5B in overdrafts Tuesday, 19 May 2015 | 4:23 PM ET
    A customer at a Wells Fargo branch in New York.

    Three of the largest U.S. banks alone collected in the first quarter more than $1.1 billion related to overdrafts.

  • Traders work on the floor of the New York Stock Exchange.

    U.S. stocks closed mixed on Tuesday as investors eyed renewed gains in yields and the dollar ahead of the Federal Reserve meeting minutes

  • The incredible shrinking Wall Street banks? Tuesday, 19 May 2015 | 1:46 PM ET
    A pedestrian walks past the JPMorgan Chase headquarters building in New York.

    After decades of swallowing up their smaller competitors, pressure is on for warehouse financial institutions to start divesting their businesses.

  • LONDON, May 19- A former JPMorgan executive who supervised a division that ran up $6.2 billion of losses in the "London Whale" scandal of 2012 has won a second legal challenge against Britain's regulator in a closely watched court battle. The Court of Appeal said on Tuesday that although Achilles Macris had not been named, he had been improperly identified when the...

  • DETROIT, May 19- The compensation of JPMorgan Chase& Co CEO Jamie Dimon and other top bank executives for last year won support from only 61 percent of shareholder votes cast at the company's annual meeting on Tuesday, according to a preliminary tally. Lead independent director Lee Raymond said at the meeting that the board's method of setting pay properly...

  • The banks being investigated are BNP Paribas, Citigroup, Barclays, JP Morgan, Investec, Standard Bank and Standard Chartered, the Competition Commission said on Tuesday. While similar foreign exchange price-fixing probes are underway in Europe, Asia and the United States, this is the first time regulators have investigated banks' trading in the South African...

  • Former JPMorgan exec wins London appeal over Whale case Tuesday, 19 May 2015 | 11:09 AM ET

    LONDON, May 19- A former JPMorgan executive who supervised a division that ran up $6.2 billion of losses in the "London Whale" scandal of 2012 has won a second legal challenge against Britain's regulator in a closely-watched court battle. The Court of Appeal said on Tuesday that although Achilles Macris had not been named, he had been identified and should have...