Jpmorgan chase Stories
WaMu on Verge of $5 Billion Capital Infusion
Savings and loan bank Washington Mutual, Inc is on the verge of securing a $5 billion investment from private equity buyout group TPG and other investors after suffering big losses in recent months due to the current credit crisis.
Fed Defends Bear Deal as 'Best Option'
New York Federal Reserve Bank Chairman Timothy Geithner defended the bank's decision to assist in the JPMorgan Chase merger with Bear Stearns, saying it was the best option available under the circumstances.
Fed Chief Says Bear Rescue Averted Chaos
Federal Reserve Chief Ben Bernanke said that failure to loan up to $30 billion in funds to Bear Stearns would have led to its bankruptcy and a chaotic chain of events which would have severely shaken confidence in financial markets.
Oil to range between $80 110: OPEC President
OPEC President Chakib Khelil said over the weekend that he expects the price of crude oil to range between $80 and $110 per barrel in 2008.
CITIC Backs out of Bear Stearns
CITIC Securities Co, one of China's largest brokerages, formally announced on yesterday that it would cancel a proposed $1 billion investment in Bear Stearns Cos after the Wall Street brokerage was bought by JPMorgan Chase & Co.
Treasuries Rise on Fed Emergency Moves, Bear Stearns Bailout
Treasuries rose on Monday after the Federal Reserve moved to add liquidity to the credit and financial markets with a pair of moves over the weekend and aid for struggling investment bank Bear Stearns.
U.S. Stocks Tumble in Early Trading
U.S. stocks dropped at the open on Monday after the Federal Reserve cut its discount interest rate at an emergency meeting and JP Morgan Chase & Co. agreed to buy Bear Stearns Cos. for $2 a share, fueling fears that the global credit crisis is spiraling out of control.
Bear Stearns Shares Fall 47 Pct After Fed Bailout
Shares of Bear Stearns Cos. fell nearly 50 percent on Friday after the Federal Reserve, through JPMorgan Chase & Co, gave the struggling investment bank an emergency loan.
With High Risk and Cheap Stock, will Bear be Sold?
Who would be the last man standing at the Wall Street bank
Gold futures reach $1,009 an ounce
Gold futures spiked to a new record of $1,009 an ounce in New York on Friday, as investors turned to the safe haven after news of a bailout from troubled investment bank Bear Stearns while the plunging demand increased demand for the precious metal.
Treasuries Rise on Bear Stearns Bailout
U.S. Treasury note prices rose on Friday after amid continuing struggles in the financial sector as the Federal Reserve, through JPMorgan Chase, gave emergency funds to struggling investment bank Bear Stearns.
Dollar Slips to New Low Versus Euro on Bear Stearns
The dollar fell to a new low against the euro and dipped lower against the yen on Friday amid more trouble in the financial sector as JPMorgan Chase and the New York Federal reserved teamed up to bail out struggling investment bank Bear Stearns.
Treasuries Rise on Troubled Financial Markets
Treasuries prices rose on Monday on more news of deteriorating financial markets as investors fled to less risky investments.
U.S. Stocks Slip on Bernanke Plan
U.S. stocks dropped to an 18-month low on Tuesday , after Federal Reserve Chairman Ben Bernanke urged banks to write down more mortgage debts. Financial shares led indexes to fall while oil and gold dropped from previous records.
China Taps JPMorgan,StanChart to Underwrite Debt
China has opened its bond market wider to foreign banks, naming the local arms of JPMorgan Chase and Standard Chartered Bank as primary underwriters of debt issued by the Ministry of Finance.
Treasuries Stage Comeback as Recession Risk Rises
Treasuries staged a comeback as safe-haven vehicles on Friday as greater risks of a U.S. recession raised the chance of a U.S. recession.
U.S. Stocks Rise on Financial Results
U.S. stocks rose on Wednesday, after JPMorgan Chase & Co. and Wells Fargo & Co. reported quarterly results not worse than expectations, giving some hope that the battered financial sector may be able to cut some of its losses.
JPMorgan takes $1.3 billion writedown
JPMorgan Chase & Co said on Wednesday quarterly profit fell a worse-than-expected 24 percent as the No. 3 U.S. bank lost $1.3 billion on risky mortgages and set aside more money for rising losses on home-equity and auto loans. The bank quadrupled to $1.1 billion the provision it needs to cover continued problems on home equity and subprime mortgage loans.
U.S. Stocks Rise on Fed Talk, Countrywide Deal Report
U.S. stocks rose for a second day on Thursday after Federal Reserve Chairman Ben Bernanke pledged to further cut interest rates and on news that Bank of America is reported to buy struggling mortgage lender Countrywide Financial Corp.
Billionaire Lewis ups stake in Bear Stearns: filing
Billionaire Joseph Lewis disclosed in a regulatory filing on Wednesday that he has increased his stake in hard-hit investment bank Bear Stearns Cos to 9.57 percent.
Bear Stearns Posts Huge Loss, Cuts Bonuses
Bear Stearns Cos Inc posted a much bigger-than-expected quarterly loss on Thursday, capping a fiscal year when the fifth-largest U.S. investment bank took a beating on bad bets on risky subprime mortgages. It was the first loss in the company's history, and the bank decided top executives would not receive bonuses.
Wall Street set for higher open on banks, Fed
Stocks headed for a higher open on Monday, with financial shares set to lead gains after news of the latest large capital injection into a major bank by wealthy investors.
U.S. Stocks Up Ahead of Mortgage Resuce Plan
U.S. stocks rose steadily for a second day on Thursday, with financial shares climbing on expectations that government plan to be unveiled today may help banks’ profits by limiting subprime mortgage defaults.
Dow, S&P 500 gain on housing plan as Nasdaq dips
The Dow and S&P 500 rose on Friday, capping a dismal November with a four-day rally, as financial stocks rallied on optimism over a proposed rescue for struggling homeowners and on heightened expectations for more interest-rate cuts.
Stocks Rise; Banks up on Fed Comments, Dell Drags S&P
Dell, the world’s second-largest personal-computer maker, decreased $3.80 to $24.33, being viewed as the biggest drag on the S&P 500.
Morgan Stanley President, Zoe, Resigns
Morgan Stanley Co-President Zoe Cruz is retiring as the subprime mortgage crisis ends a 25-year tenure for a woman who had been seen as the front-runner to succeed Chief Executive John Mack.
Morgan Stanley's Zoe Cruz Steps Down
Morgan Stanley Co-President Zoe Cruz is retiring as the subprime mortgage crisis ends a 25-year tenure for a woman who had been seen as the front-runner to succeed Chief Executive John Mack.
Bear Stearns to cut 650 jobs globally
Bear Stearns Cos Inc (BSC.N) is cutting 650 jobs or 4 percent of its global workforce as the investment bank seeks to lower costs after losing bets on risky subprime mortgages. Of those cuts, around 20 will be in London, both in the front and back office, a source familiar with the situation said on Wednesday. The bank employs about 1,500 in London.
Wall St. lifted higher by retailers and banks
Stocks rebounded on Friday in an abbreviated session as the start of holiday shopping lifted retail stocks, while progress in a plan to relieve the credit market's strain aided bank shares. Shares of JPMorgan Chase, Bank of America and Citigroup all rose more than 2 percent. The three banks, spearheading an effort to establish a superfund to ease problems in the credit market, are expected to seek support from others in the industry.
Wall Street slides on credit jitters, oil
Stocks slid on Wednesday as fears of more credit losses and mortgage defaults sunk shares of financial services companies, while worries about the impact of near record crude oil prices hit retailers and shares of big manufacturers.