Princelings and Patek Philippe watches on junior staffers are more common on Wall Street than many want to believe. » Read More
NEW YORK-- JPMorgan Chase, the country's biggest bank, reported a record quarterly profit Friday, helped by a surge in mortgage refinancing. It worked out to $1.40 per share, blowing away the $1.21 predicted by analysts polled by FactSet, a provider of financial data. Revenue rose 6 percent to $25.9 billion, beating expectations of $24.4 billion.
LONDON, Oct 12- U.S. stock index futures pointed to a fractionally higher open on Wall Street on Friday, with futures for the S&P 500 up 0.2 percent, and contracts on the Dow Jones and the Nasdaq 100 up 0.1 percent at 0828 GMT.
*JPMorgan has lower' London whale' losses than in 1st half. Oct 12- Two of the nation's biggest banks, Wells Fargo& Co and J.P. Morgan Chase& Co, made record profits over the last three months from a sharp rise in mortgage lending, though performance stumbles elsewhere hurt J.P. Morgan more than Wells Fargo.
NEW YORK, Oct 12- U.S. consumer sentiment unexpectedly rose to its highest in five years in October in the latest in a string of encouraging signs from the economy that may boost President Obama' s reelection hopes as voters go to the polls next month.
Todd Hagerman, Managing Director, Equity Research, Sterne Agee & Leach expects U.S. banks to turn in respectable profits this earnings season but says brokerage stocks are vulnerable given their run-ups so far this year.
NEW YORK, Oct 10- JPMorgan Chase& Co has made enough progress containing its $5.8 billion of derivatives losses and tightening its risk controls that the outlook for its credit rating has improved to stable from negative, Fitch Ratings said on Wednesday.
WASHINGTON, Oct 10- JPMorgan Chase& Co Chief Executive Jamie Dimon said his company has lost up to $10 billion as a result of the government asking him to buy teetering Wall Street firm Bear Stearns during the financial crisis.
WASHINGTON, Oct 10- The chief executive of JPMorgan Chase& Co, Jamie Dimon, waded into the U.S. fiscal debate on Wednesday when he said he was willing to pay a higher individual tax rate while calling for lower corporate taxes so U.S. business can compete in a global economy.
WASHINGTON, Oct 10- JPMorgan Chase& Co Chief Executive Jamie Dimon said his company has lost up to $10 billion as a result of the government asking him to buy teetering Wall Street firm Bear Stearns during the financial crisis. "I'm going to say we've lost $5 billion to $10 billion on various things related to Bear Stearns now.
WASHINGTON, Oct 10- The chief executive of JPMorgan Chase& Co said he should have caught the " London whale" derivatives trades that resulted in a multibillion-dollar loss for the bank. So far, JPMorgan has estimated its total trading loss at $5.8 billion.
"Businesses make mistakes, they learn from it, and they get better for it," said JPMorgan CEO Jamie Dimon talking about the "London Whale" debacle, reports CNBC's Bertha Coombs.
Jamie Dimon, CEO of JPMorgan, says the economy would have been booming if the U.S. would have adopted Simpson-Bowles.
New York Times staff writer Susan Dominus, discusses her latest article, which is about Ina Drew, one of the most powerful women on Wall Street. She looks at her resignation from JPMorgan and the steps leading up to the bank giant's $6 billion trading loss.
*Barry Zubrow was on watch when derivatives risk grew. Oct 5- Barry Zubrow, who was head of risk management at JPMorgan Chase& Co when the bank was building a dangerously large position in credit derivatives, is retiring. Zubrow, 59, will leave the company at the end of the year, according to an internal memo from CEO Jamie Dimon, which the bank released on Friday.
Bethany McLean, Vanity Fair, spent four months with JPMorgan CEO Jamie Dimon to get a sense of what the enigmatic banker is really like.
The multi-billion dollar fraud lawsuit against JPMorgan Chase for alleged misconduct at Bear Stearns may be just the beginning in a wave of cases brought against financial firms for their practices before the financial crisis, New York State Attorney General Eric Schneiderman told CNBCs Power Lunch on Tuesday. hr<!-- -->
NEW YORK, Oct 1- New York Attorney General Eric Schneiderman filed a civil fraud lawsuit against JPMorgan Chase& Co on Monday over mortgage-backed securities packaged and sold by the former Bear Stearns. JPMorgan, which bought Bear Stearns for $10 a share in March 2008, said in a statement it would contest the allegations.
*Irene Tse ran North America side of CIO office. NEW YORK, Oct 1- Another top executive at the JPMorgan Chase& Co unit that lost $5.8 billion on derivatives trades this year is leaving the company.
*Irene Tse ran North America unit of troubled unit. NEW YORK, Oct 1- Another top executive at the JPMorgan Chase& Co unit that lost $5.8 billion on derivatives trades this year is leaving the company.
One of Europe’s largest hedge funds, Brevan Howard, reaped the rewards from being on the other side of JPMorgan’s infamous “London Whale” trade earlier this year by buying up tranches of mortgage and corporate bonds.