Oct 24- Visa Inc said Charles Scharf, a former head of JPMorgan Chase& Co's retail financial services division, will succeed Joseph Saunders as chief executive, effective Nov. 1. Scharf worked closely with Jamie Dimon, chairman and CEO of JPMorgan, when the two men were at Citigroup Inc in the 1990 s.
NEW YORK-- Citigroup isn't as enthusiastic as its peers about a comeback in the housing market. On Friday, executives at Wells Fargo and JPMorgan Chase declared that the long-struggling market had turned a corner.
The country's two biggest mortgage lenders, Wells Fargo and JPMorgan Chase, reported Friday that a surge in home lending pushed them to record profits. JPMorgan CEO Jamie Dimon declared that the housing market "has turned the corner." JPMorgan wrote $47 billion in mortgages, compared with $37 billion last year.
*Pay falls at JPMorgan's investment bank in 3rd qtr. Oct 12- JPMorgan Chase& Co's investment bank set aside less revenue to pay employees last quarter, another sign that Wall Street bonuses are on the decline this year.
*JPMorgan's Dimon: housing has turned a corner. 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 Barack Obama's re-election hopes next month.
NEW YORK-- Jamie Dimon, the CEO of JPMorgan Chase, is known as much for his swagger as for his banking savvy. Friday, when his bank reported triumphant results for the third quarter, was no exception.
JPMorgan's earnings were a mixed bag, reports CNBC's Kayla Tausche, saying investment banking earnings declined sharply from last quarter amid lower volumes.
CNBC's Kayla Tausche reports JPMorgan's Dimon said, "the housing market has turned the corner," in the company's earnings press release; CNBC's Diana Olick checks on which housing stocks are winners.
Oct 12- JPMorgan Chase& Co:. *JPMorgan executives speaking on analyst conference call. *JPMorgan CEO Jamie Dimon: will not price loans' a lot lower' to create demand.
Oct 12- JPMorgan Chase& Co:. *JPMorgan CEO Jamie Dimon: Expect mortgage servicing costs to decline in 2013. *JPMorgan CEO Dimon declines to comment on reports CFO Doug Braunstein will.
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.