Jpmorgan chase Stories
JPMorgan gets final OK to set up local China bank
JPMorgan Chase & Co. said on Monday it received final approval to set up a locally incorporated bank in China, one of the latest firms given the go-ahead for possible retail operations in the country.
Citigroup profit up 18 pct. on international growth
Citigroup Inc., the largest U.S. bank, said on Friday that strong international growth fueled a higher-than-expected 18 percent increase in quarterly profit. Revenue rose faster than expenses for a second consecutive quarter, as Chief Executive Charles Prince continued to emphasize controlling costs.
Bank of America net up 5 percent, tops views
Bank of America Corp., the second-largest U.S. bank, said on Thursday quarterly profit rose 5 percent, as private equity and investment banking gains offset lower retail banking earnings and worsening loan quality.
JPMorgan profits hurt by home equity loans
JPMorgan Chase & Co. said on Wednesday it tripled the amount it set aside for loan losses as home equity borrowers missed payments, hurting the bank's second-quarter net income growth.
Yields edge lower on subprime and stocks concern
Treasury bond yields edged lower in Europe on Wednesday after Bear Stearns told investors two of its hedge funds had very little value, and stocks were hit by weaker-than expected company earnings.
Sallie deal may yet go ahead, but price could fall
The threatened buyout of student lender Sallie Mae may still go ahead -- but the $25 billion price tag could be negotiated down.
Carlyle to acquire Sequa for $2 billion
Private equity firm Carlyle Group said on Monday it would buy aircraft and auto parts maker Sequa Corp. for $2 billion.
Bear Stearns to add up fund losses by July 16: report
Bear Stearns Cos. may take until July 16 to tally losses at two struggling hedge funds that invested in risky mortgage-related securities, The Wall Street Journal Online reported on Monday.
Bain Capital to buy Brakes for $2.8 bln
Bain Capital will buy UK-based food service company Brakes from private equity firm Clayton, Dubilier & Rice, the companies said on Friday.
Citigroup, Merrill top underwriters amid strains
Wall Street underwriters kept busy in the second quarter, yet ebbing investor appetite for lower-rated debt and riskier assets may dampen their summer.
Bear Stearns likely to face hedge fund lawsuits
Investors in two struggling Bear Stearns Cos. hedge funds that made bad bets on risky mortgages will almost surely file lawsuits in hopes of recouping losses, but legal experts say they could have a tough time proving their case.
Stocks dip again on subprime fears
Stocks closed down for a third session on Tuesday as higher bond yields raised concerns about borrowing costs and more fallout from the subprime mortgage market kept investors on edge.
Stocks dip again as subprime fears weigh
Stocks closed down for a third session on Tuesday as higher bond yields raised concerns about borrowing costs and more fallout from the subprime mortgage market kept investors on edge.
Bear Stearns not planning to bail out second fund: source
Bear Stearns Cos. Inc. is not currently planning to bail out a second hedge fund that has suffered big losses, a source close to the matter said on Tuesday.
Global stocks down, yen up as investors trim risks
European and Asian stocks fell on Tuesday while government bonds and the yen rose as concerns about the U.S. mortgage market and warnings about currency borrowing prompted investors to cut back on risky assets.
Road show planned to raise funds in Chrysler deal: WSJ
Investment banks helping Cerberus Capital Management LP finance its buyout of Chrysler, the U.S. arm of automaker DaimlerChrysler, will launch a road show in the next week to raise funds for the deal, according to a report in the Wall Street Journal, citing a source familiar with the matter.
Fed, subprime jitters on tap
One of Wall Street's oldest maxims will be put to the test next week: markets don't hit bottom on a Friday.
Wall Street stumbles as subprime worries reemerge
Stocks tumbled on Friday, wrapping up their worst week since a global sell-off in February amid fears that trouble at two Bear Stearns hedge funds may signal worse problems lie ahead for credit markets.
Bear Stearns may assume hedge fund loans: report
Bear Stearns Cos., trying to prevent the collapse of two of its hedge funds, may take over about $3.2 billion of the funds' loans to prevent creditors from seizing more assets, Bloomberg reported on its Web site on Friday.
Stocks gain on rally in semiconductors
Stocks rebounded on Thursday after brokerage upgrades sent the semiconductor sector to a 13-month high and fresh data pointed to a growing economy.
Stocks flat as subprime worries offset takeovers
Stocks were little changed on Monday as lingering worries about the subprime mortgage market offset optimism about corporate takeovers.
Lehman Brothers rising as banking power: Barron's
Lehman Brothers's lagging stock price offers the chance to buy into a rising power as it seeks to join the company of larger investment banks like Goldman Sachs and Morgan Stanley, Barron's reported in its June 18 edition.
Goldman and B. Stearn's Mortgage Woes
Goldman Sachs Group Inc. and Bear Stearns Cos. Inc. are learning that it's a tough time to be in the U.S. mortgage business. Both banks suffered from rising home buyer defaults in the latest quarter.
Bear Stearns net drops on mortgage woes, charge
Investment bank Bear Stearns Cos. Inc., one of the nation's largest mortgage bond underwriters, said on Thursday quarterly earnings fell by a third as trouble in the mortgage market hurt bond trading revenue and it wrote down assets at a stock trading venture.
Aramark Agrees To Management Buyout
Aramark, a food service provider, on Tuesday accepted a management buyout from Joseph Neubauer, its chairman and CEO, in conjunction with a private equity consortium.
Stocks Rise on Bernanke's Rate Pause Suggestion
U.S. stocks rose on Thursday after Federal Reserve Chairman Ben Bernanke said the Fed may pause in its 22-month campaign of raising borrowing costs, lifting shares of interest-rate sensitive companies such as banks and utilities.
G7, Dollar May Slip Against Asian Currencies
While financial markets may not react dramatically to the Group of Seven's charge to China to let its yuan currency rise, the events of the weekend will likely further erode faith in the U.S. dollar.
China bank: No Bear Stearns talks
China Construction Bank, one of the country's largest state banks, denied on Monday a newspaper report it is in early talks with Bear Stearns that could lead to its taking a minority stake in the Wall Street securities firm.
Chinese bank denies in talks on Bear Stearns stake
China Construction Bank Corp., one of the country's largest state banks, denied a newspaper report on Monday that it is in early talks with Bear Stearns Cos. that could lead to it taking a minority stake in the Wall Street investment bank.