Tuesday, 22 May 2012 | Posted By:
| Source: CNBC.com
JPMorgan’s biggest worry in the wake of the "London Whale" $2 billion trading loss should be losing the trust of Congress, analyst Jim Bianco of Bianco Research told CNBC Tuesday.
The U.S. economy needs "measured" efforts to bolster growth, but the central bank should focus on improving its communications because circumstances do not warrant further bond buying at this time, a top Federal Reserve official said on Monday.
Thursday, 17 May 2012 | Posted By:
| Source: CNBC.com
Jim Rogers, the chairman of Rogers Holdings, says he expects more turmoil in the global financial markets after Asian stock markets on Friday fell close to four-month lows.
Leading indicators, a gauge of future U.S. economic activity, fell in April for the first time in seven months, according to an industry survey on Thursday that indicated a struggling economic recovery.
Thursday, 17 May 2012 | Source: Christian Science Monitor
For the past three weeks, U.S. interest rates have been falling, and it's because of fears that Greece, which is still trying to form a government, will totally default on its loans, the Christian Science Monitor reports.
The JPMorgan Chase unit that lost more than $2 billion through a failed hedging strategy had looser risk controls than the rest of the bank, according to people familiar with the situation.
Federal Reserve policymakers appear open to further monetary efforts to stimulate the economy according to minutes for the central bank's April meeting.
President Barack Obama's two stalled nominees for the Federal Reserve are likely to clear a Senate procedural hurdle on Thursday, paving the way for anticipated confirmation, the chamber's leaders said on Tuesday.
Saturday, 12 May 2012 | Source: The New York Times
Soon after lawmakers finished work on new financial regulations, JPMorgan lobbyists descended on Washington. Their goal was to obtain special breaks that would allow banks to make big bets in their portfolios. The New York Times reports.
The situation in the euro zone has become so bleak that it is giving rise to rumors the euro will be tied to the dollar at close to parity, a dramatic fall, which would have severe implications for the US and China. The Financial Times reports.
Walking through his high-ceilinged factory here, explaining the production of sheets of copper, M. Brian O’Shaughnessy comes across as a staunch advocate of manufacturing in America.
Friday, 11 May 2012 | Posted By:
| Source: CNBC.com
JPMorgan’s $2 billion trading loss announced does not bear the earmarks of coming from a “rogue” trader and what follows is likely to be worse for the Wall Street bank rather than better, Dennis Gartman, founder of The Gartman Letter, told CNBC on Friday.
Treasury Secretary Tim Geithner appeared on PBS NewsHour Thursday night. Jeffrey Brown asked him whether JPMorgan Chase spacer CEO Jamie Dimon should resign from the board of the Fed.... Read More
Recent volatility serves as yet another reminder that markets cannot be divorced from developments in the global economy — and especially at a time when the 17-member construct of the European monetary union is being increasingly questioned on account of what is happening in Greece.... Read More