Jpmorgan chase Stories
Citigroup stock falls below $1 for first time
One dollar could buy a cup of coffee, a pack of chewing gum, or a roll of bathroom tissue.
HSBC in $18 billion rights issue, retreats from U.S.
HSBC launched Britain's biggest rights issue, raising 12.85 billion pounds ($18.1 billion) on Monday to help it overcome big losses in the United States and exploit the woes of weaker rivals.
HSBC slashes 6,100 U.S. jobs, sets huge share sale
HSBC launched Britain's biggest rights issue on Monday, to raise 12.85 billion pounds ($18.3 billion) to help it overcome big losses in the United States and exploit the woes of weaker rivals.
HSBC unveils record UK rights issue, slashes 6,100 U.S. jobs
HSBC launched a 12.5 billion pound ($17.7 billion) rights issue on Monday to shore up its balance sheet after annual profit more than halved and as bad debts soared in the United States.
HSBC unveils $17.7 billion rights issue, slashes 6,100 U.S. jobs
HSBC launched a 12.5 billion pound ($17.7 billion) rights issue on Monday to shore up its balance sheet after annual profit more than halved and as bad debts soared in the United States.
HSBC plans $17 billion share sale: report
HSBC , Europe's biggest bank, plans to raise more than 12 billion pounds ($17 billion) in a share sale aimed at propping up its capital base during the global economic crisis, the Financial Times reported on Saturday.
HSBC plans $17 biliion share sale: report
HSBC , Europe's biggest bank, plans to raise more than 12 billion pounds ($17 billion) in a share sale aimed at propping up its capital base during the global economic crisis, the Financial Times reported on Saturday.
Britain's HSBC plans $17 billion share sale: report
HSBC, Europe's biggest bank, plans to raise more than 12 billion pounds ($17 billion) in a share sale aimed at propping up its capital base in order to cope with the economic crisis, the Financial Times reported on Saturday.
Wall St. set to tumble at open on Citi and GDP
Stocks headed for a sharp slide at Friday's open as news the U.S. government was taking a large common equity stake in embattled lender Citigroup sowed more uncertainty over the fate of major banks.
U.S. boosts stake in Citigroup
The U.S. government will boost its stake in Citigroup Inc to as much as 36 percent, bolstering the banking giant's capital base in one of the most dramatic efforts yet to prop up the ailing banking industry.
JPMorgan now cutting up to 14,000 jobs
JPMorgan Chase & Co said it is cutting up to 14,000 jobs, more than previously disclosed, as it tries to reduce costs in the face of a slumping economy and higher credit losses.
JPMorgan expects to cut 12,000 jobs
JPMorgan Chase & Co said it expects to cut 12,000 jobs as it integrates the former Washington Mutual Inc , 2,800 more than its previous estimate.
The second-largest U.S. bank also said on Thursday it expects about $2.75 billion of savings from Washington Mutual, offset by $750 million of new investments. Retail banking chief Charlie Scharf said the bank expects t...
JPMorgan sees home equity losses and 12,000 WaMu cuts
JPMorgan Chase & Co said it expects losses of $1 billion to $1.4 billion in each quarter of 2009 tied to its non-credit-impaired home equity loan portfolio.
The second-largest U.S. bank also said on Thursday that falling home prices may result in more borrowers with home equity loans owing more than their residences are worth. It said this could affect 35 percent to 39 percen...
Ex-Bear Stearns banker pleads guilty in fraud case
A former municipal banker at Bear, Stearns & Co, pleaded guilty on Wednesday to fraud involving hospital financing that is part of a wide-ranging probe of government corruption in Illinois.
Stocks rebound on bargain hunting and Home Depot
Stocks rose on Tuesday as investors snapped up beaten-down shares while reassuring results from Home Depot Inc boosted sentiment a day after Wall Street sank to a 12-year low.
The benchmark S&P 500 index held a slight edge above its November bear market low as an advance in such shares as Bank of America and JPMorgan Chase eclipsed news th...
Bargain hunters lift Wall Street after slide
Stocks rose on Tuesday as investors snapped up shares in beaten-down sectors, including financials, a day after Wall Street skidded to a 12-year low.
The benchmark S&P 500 index held a slight edge above its November bear market low, as JPMorgan , up 3 percent, and Citigroup , up almost 5 percent, led a rebound in financial shares.
Shares of Home Depot <...
CORRECTED: JPMorgan slashes dividend; shares rise
By Jonathan Stempel
NEW YORK - JPMorgan Chase & Co, the second-largest U.S. bank, slashed its common stock dividend 87 percent on Monday, a surprise move by a lender considered among the strongest in the U.S. financial sector.
The bank also said it has been solidly profitable this quarter, and that the outlook for the three-month period is roughly in line with analyst forecasts. Sha...
Bargain hunters prowl Wall St. after slide
Stocks headed for a modest bounce at the open on Tuesday, with investors likely to scour the market for beaten-down shares in sectors such as financials after Wall Street skidded to a 12-year low a day earlier.
The benchmark S&P 500 index will start the regular session less than three points from a fresh bear market low, raising the potential for the market to sink on any fresh s...
JPMorgan slashes dividend
JPMorgan Chase & Co , the second-largest U.S. bank, slashed its common stock dividend 87 percent on Monday, a surprise move by a lender considered among the strongest in the U.S. financial sector.
The bank also said it has been solidly profitable this quarter, and that the outlook for the three-month period is roughly in line with analyst forecasts. Shares rose 5.5 percen...
JPMorgan slashes dividend; shares rise on outlook
JPMorgan Chase & Co, the second-largest U.S. bank, slashed its common stock dividend 87 percent on Monday, a surprise move by a lender considered among the strongest in the U.S. financial sector.
JPMorgan Chase slashes dividend 87 percent
namely, to help stabilize the banking system and economy.
The bank said it hopes to return to a more normalized dividend as soon as feasible once the environment stabilizes.
Bank of America Corp and Citigroup Inc , JPMorgan's largest rivals, have slashed their dividends to a penny per share since November.
Shares of JPMorgan fell 30 cents to $19.21 in after-hour...
New U.S. stake in Citigroup may not calm doubts
Even if the government took a large common equity stake in Citigroup Inc, worries would likely persist about the bank's ability to absorb soaring losses in a deepening recession.
The third-largest U.S. bank by assets is in talks with federal regulators on a plan for the government to increase its stake, a person familiar with the matter said. Converting $45 billion of preferred stock, which the ...
AmEx paying card holders to close their accounts
American Express Co., battered by mounting credit card losses, is offering $300 to a limited number of U.S. card holders who pay off their balances and close their accounts, the company said on Monday.
New U.S. stake in Citigroup won't fix problems
Even if the government takes a large common equity stake in Citigroup Inc, worries are likely to persist about the bank's ability to absorb soaring losses in a deepening recession.
Dow and S&P 500 rise on Citi reports but techs drift
The Dow and the S&P 500 stock indexes rose on Monday as investors took reports that Washington could convert its holding in Citigroup to a larger stake as a sign that it is ready to forestall further paralysis of the financial system.
But with investors snapping up beaten-down financial shares, money moved out of the technology sector, causing the Nasdaq to drift into negative ter...
Higher Wall St. open eyed on news of Citi stake talks
Stocks headed for higher open on Monday as investors took reports that Washington could take a bigger stake in Citigroup as the surest sign yet that it is ready to avert further paralysis of the financial system.
A report in the Wall Street Journal said the U.S. government may end up holding as much as 40 percent of Citigroup's common stock.
Last week shares of Citigroup and Bank of...
Higher open eyed on news of Citi stake talks
Stocks headed for higher open on Monday as investors took reports that Washington could take a bigger stake in Citigroup as the surest sign yet that is ready to avert further paralysis of the financial system.
A report in the Wall Street Journal said the U.S. government may end up holding as much as 40 percent of Citigroup's common stock.
Last week shares of Citigroup and Bank of A...
U.S. may boost stake in Citigroup: source
Citigroup Inc is in talks to give the U.S. government a larger stake, a person familiar with the matter said, which could provide the government with a far greater say in the affairs of the ailing banking giant.
Nationalization fears hit Citi, BofA
Bank of America Corp shares sank below $3 and Citigroup Inc tumbled below $2 on Friday, hammered by growing fears that the U.S. government could nationalize the banks, wiping out shareholders.
Nationalization fears pummel BofA, Citi
and it's getting worse, said Nouriel Roubini, a prominent New York University economist who forecast much of the credit and housing recession.
The cost of insuring $10 million of Citigroup debt for five years rose to $475,000 annually from $405,000 on Thursday, according to data from Phoenix Partners Group.
The cost of insuring Bank of America debt rose to $275,000 a year from $245,000.
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