All Posts Tagged With: "JP Morgan Chase"

British financial regulators hit the London unit of JP Morgan Chase (NYSE: JPM) with a record 33.3 million pound ($48.8 million) fine for comingling a portion of client money with firm capital.  According to the Financial Services Authority (FSA), JP Morgan Securities Ltd (JPMSL) failed to separate all funds between November 2002 and July 2009. [...]

The Dow has given up its gains for the week, and financial stocks like Wells Fargo (NYSE:WFC), Bank of America (NYSE:BAC), JPMorgan (NYSE:JPM) Citigroup (NYSE:C), Goldman Sachs (NYSE:GS) and Morgan Stanley (NYSE:MS) are all down on the downgrade of Spain’s debt by Fitch Ratings from its prior AAA rating to AA+. Spain had had a [...]

Goldman Sachs (NYSE:GS) upgraded Citigroup (NYSEC) from “neutral” to “buy,” while maintaining buy ratings on J.P. Morgan Chase (NYSE:JPM) and Bank of America (NYSE:BAC). In light of the current economic conditions, which are deteriorating in Europe and China, it does generate the question of whether the assessment of Goldman is far too optimistic. Much of [...]

Now that the vote to close off debate on the huge financial regulation bill has passed by 60-40, voting on the bill will come very soon, and that raises concerns from banks like Bank of America (NYSE:BAC), Goldman Sachs (NYSE:GS), JPMorgan (NYSE:JPM) and Morgan Stanley (NYSE:MS) on whether or not the inclusion of the provision [...]

Bank of America (NYSE:BAC) and JPMorgan Chase (NYSE:JPM) are the recipients of Build America Bonds offered by the state of Pennsylvania, generating $1 billion for the commonwealth. The Bank of America part of the bonds are what is called ‘true interest cost,’ which was valued at $548.9 million. JPMorgan Chase received the tax-exempt part of [...]

At their annual shareholders meeting, J.P. Morgan (NYSE:JPM)investors rejected the proposal to separate the roles of CEO and chairman, which are both held by Jamie Dimon. The largest public pension fund in the U.S., Calpers, had supported the separation. On their Web site, Calpers, the California Public Employees’ Retirement System, said this as the reasoning [...]

Credit card loans for customers of Bank of America (NYSE:BAC) dropped to their lowest levels since November 2008, making Bank of America the top bank in that segment. The bank said the reasons for the improvement were because of tax refunds and possibly an improving economy. Bank of America is the second-largest credit card lender [...]

JP Morgan Chase (NYSE: JPM) has become the largest investor in newspaper publisher, Gannett Co. after acquiring more shares of the firm, giving it a total of 24.3 million, according to a regulatory filing.  The additional purchase gives the bank about a 10 percent stake in the company. The move makes it clear that JP [...]

Citigroup (NYSE:C), JPMorgan Chase (NYSE:JPM), Goldman Sachs (NYSE:GS), Bank of America (NYSE:BAC) and Wells Fargo (NYSE:WFC). the five banks benefiting the most from trading derivatives, are out in full force to fight against the approval of a provision originated from Arkansas Senator Blanche Lincoln, which would prohibit the banks from trading derivatives. Executives from the [...]

The largest operator of hospitals in the U.S., HCA, with the management aid of Bank of America (NYSE:BAC), Citigroup Inc. (NYSE:C) and J.P. Morgan  (NYSE:JPM), filed plans today for their IPO, which is estimated to raise about $4.6 billion for the company. This assumes the registration by HCA on how much they’re going to sell [...]