An increasing number of business executives and economists have spoken up against adopting a negative interest rates policy for long.
JP Morgan is losing out on many millions of dollars in fees that would've come from leading the IPO and lending to WeWork.
"We're not lowering our standards," Heather Higginbottom stresses. "We're just going out in a broader way."
WASHINGTON, Oct 18- Facebook's Libra digital currency project is "a neat idea that will never happen," JPMorgan Chase Chief Executive Jamie Dimon said on Friday, adding to skepticism about the project that has faced criticism from policymakers and some regulators. Dimon, who made the comments at an event in Washington hosted by the Institute of International...
Dimon's comments come as a raft of corporate partners have dropped out of the libra crypto project.
*Sets aside $1.6 bln for legal expenses. Oct 15- Wells Fargo& Co missed third-quarter profit estimates on Tuesday as mortgage income sank and the fourth-largest U.S. bank by assets braced for additional legal expenses tied to a sales practices scandal that erupted more than three years ago. The lender said on Tuesday it had set aside $1.6 billion for legal...
Oct 15- JPMorgan Chase& Co kicked off bank earnings on Tuesday by beating Wall Street estimates for quarterly profit by a wide margin, a signal that the U.S. consumer remains strong, executives at the largest U.S. bank said. Strength in bond trading and underwriting boosted revenue...
The San Francisco- based lender last month appointed Charles Scharf, a one-time Jamie Dimon protégé known on Wall Street as a detail-oriented number cruncher who excels in streamlining operations, as its new top boss. Mortgage income fell 45%, even as U.S. refinancing activity more than doubled from a year ago, according to data released by the Mortgage...
Oct 15- JPMorgan Chase& Co beat Wall Street estimates for quarterly profit by a wide margin on Tuesday, underpinned by strength in bond trading and underwriting. Overall, revenue rose 8% to $30.06 billion, well above the average analyst estimate of $28.49 billion on the back of better-than-expected results from the bank's bond trading business, where revenue...
Net income applicable to common stock fell to $4.04 billion, or 92 cents per share, in the third quarter ended Sept. 30, from $5.45 billion, or $1.13 per share, a year earlier. Analysts had expected a profit of $1.15 per share, according to IBES data from Refinitiv, but it was not immediately clear if the numbers were comparable. The San Francisco- based lender last month...
Jeff Harte, principal at Sandler O'Neill, Marty Mosby, director of bank strategies at Vining Sparks, and CNBC's Mike Santoli join "Squawk Box" to dig into J.P. Morgan Chase's quarterly earnings as well as what else investors can expect from other financial institutions earnings reports.
Oct 15- JPMorgan Chase& Co beat Wall Street estimates for quarterly profit by a wide margin on Tuesday, underpinned by strength in bond trading, underwriting and home lending revenue. Net income for the quarter ended Sept. 30 was $9.08 billion, or $2.68 per share, compared with $8.38 billion, or $2.34 per share, a year ago. JPMorgan's results kick off the U.S. corporate...
The bank says third-quarter profit rose 8% to $9.1 billion, or $2.68 a share, exceeding the $2.45 estimate of analysts.
Sept 27- After a difficult, months-long search for a new chief executive, scandal-plagued Wells Fargo& Co named as its next leader Charles Scharf, a one-time Jamie Dimon protégé known on Wall Street as a detail-oriented number cruncher who excels in streamlining operations. Bank of New York Mellon named former finance head Thomas Gibbons as its CEO on an...
Sept 27- Wells Fargo& Co on Friday named banking veteran Charles Scharf its next chief executive officer, ending a six-month search for a new leader to turn around the fortunes of the scandal-plagued bank, sending its shares up more than 4%. Former CEOs Tim Sloan and John Stumpf resigned amid sales practices scandals that have plagued the bank since 2016..
J.P. Morgan has been called a training school for CEOs as Jamie Dimon's deputies have gone on to lead tech vendors or European banks.
Sept 27- Wells Fargo& Co on Friday named banking veteran Charles Scharf its next chief executive officer effective next month, ending a six-month search. Scarf, who joins the fourth-largest U.S. bank after a 2- year stint leading Bank of New York Mellon, will become Wells Fargo's third CEO in as many years. Former CEOs Tim Sloan and John Stumpf resigned amid sales...
Analysts have speculated that the Chinese government may want to wait for the outcome of what will be a contentious election before coming to terms with the U.S. on trade.
NEW YORK, Sept 24- JPMorgan Chase& Co is investing $25 million to support fintech start-ups that help low-income Americans be more financially healthy, bank executives said on Tuesday. JPMorgan's head of global philanthropy Karen Keogh said the investment in the Financial Solutions Lab will help early-stage fintech companies products that could help...
Walmart CEO Doug McMillon will chair the Business Roundtable, replacing Jamie Dimon, chief of JPMorgan Chase, and will serve a two-year term starting January 1, the group said on Thursday.
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