JPMorgan Chase – News Stories About JPMorgan Chase - Page 11

Bailed-Out Banks Don't
Want to Bail Out Chrysler

Apr 17, 2009 7:44 AM CDT

Bailed-Out Banks Don't Want to Bail Out Chrysler

Lawmakers say rescued banks should cooperate in auto rescue plan

(Newser) - Auto task force Steven Rattner's request that four big banks write off their $7 billion debt to Chrysler in return for nothing met with a big no from dropped jaws, reports the Washington Post. JPMorgan Chase, Morgan Stanley, Citigroup, and Goldman Sachs are seeking a better deal, but critics argue...

Citing Too-Low Prices, Banks Won't Sell Toxic Assets

Apr 16, 2009 11:37 AM CDT

Citing Too-Low Prices, Banks Won't Sell Toxic Assets

Stress test an Obama weapon

(Newser) - Banks are proving so reluctant to part with their so-called “toxic assets” that the Obama administration may have to strong-arm them into doing so, Time reports. Banks are protesting that the prices being offered—about $70 per $100 bond by the magazine’s calculations—are too low. That’s...

JPMorgan Chief: I Could Repay TARP Tomorrow

Apr 16, 2009 10:40 AM CDT

JPMorgan Chief: I Could Repay TARP Tomorrow

Dimon calls bailout money a 'scarlet letter'

(Newser) - JPMorgan Chase can’t wait to pay back the government’s bailout money, CEO Jamie Dimon said today, after the company posted a better-than-expected $2.1 billion in earnings. The CEO called the funds a “scarlet letter,” Bloomberg reports, and said he was just waiting for the Treasury’...

JPMorgan, Nokia Lift Stocks

MARKET Open

Apr 16, 2009 8:47 AM CDT

JPMorgan, Nokia Lift Stocks

(Newser) - Stocks were modestly higher at the open today, after JPMorgan topped estimates in the first quarter and Nokia met them. The Dow inched up 31 points, while the Nasdaq and S&P rose 16.9 and 4.08 points, respectively. JPMorgan added 1.7%, while Nokia rose 12%. Traders were...

JPMorgan Posts
Better-Than-Expected
$2.1B Profit

Apr 16, 2009 8:27 AM CDT

JPMorgan Posts Better-Than-Expected $2.1B Profit

Or JPMorgan Posts $2.1B Profits, Beats Expectations

(Newser) - JPMorgan Chase earned $2.14 billion in the first quarter, it said today, thanks to a boost in trading activity and deposits. The profit was 10% lower than last year, but better than expected, boosting hopes for a turnaround. Like other banks, JPMorgan is still seeing loan defaults increase—credit...

Skirting Bailout Rules, Banks Send Foreign Hires Abroad

Apr 15, 2009 8:35 AM CDT

Skirting Bailout Rules, Banks Send Foreign Hires Abroad

(Newser) - Banks who have taken TARP funds from the government are getting creative about the immigration restrictions that come with the bailout, the Wall Street Journal reports. Financial institutions relying on government assistance cannot hire foreign workers unless they prove that they have exhausted the supply of native talent. So they’...

Stocks Slide Ahead of Earnings

MARKET Open

Apr 6, 2009 8:57 AM CDT

Stocks Slide Ahead of Earnings

(Newser) - Stocks turned south this morning, as a series of downgrades and bad news for the Sun/IBM deal spooked investors ahead of earnings season, the Wall Street Journal reports. The Dow dropped 92, the S&P 12. Financials sank after a veteran analyst downgraded 11 major US banks. The Nasdaq fell...

Dow Down 148, Up for Week

MARKETS

Mar 27, 2009 3:22 PM CDT

Dow Down 148, Up for Week

Indices manage to hold on to weekly gains despite Friday dip

(Newser) - Stocks fell today, though not enough to offset broad-based weekly gains, the Wall Street Journal reports. Financials dropped, in part due to comments by JP Morgan Chase CEO James Dimon, who said the bank had more trouble in March than in the first 2 months of the year. JP Morgan...

JPMorgan Spending $138M
to Update Swank Jet Fleet

Mar 23, 2009 9:14 AM CDT

JPMorgan Spending $138M to Update Swank Jet Fleet

Two Gulfstreams and a new hangar are slated for purchase

(Newser) - JPMorgan Chase, recipient of $25 billion in taxpayer money, is about to be the proud owner of two new luxury private jets and a lavishly renovated Westchester County airport hangar, complete with roof garden, ABC News reports. The $138 million purchase, described as “completely tone deaf” by one watchdog,...

Dow Surges 379,
Biggest Gain of Year

MARKETS

Mar 10, 2009 3:25 PM CDT

Dow Surges 379, Biggest Gain of Year

Citigroup leads financials after announcing profitable January and February

(Newser) - Stocks rallied today as financials jumped on news of Citigroup’s profitable January and February, the Financial Times reports. Investors also were cheered by talk of reform from Ben Bernanke—who said the recession could end next year if all goes well—and Barney Frank. Citi, Bank of America, and...

Stocks Limp Higher

MARKET Open

Feb 24, 2009 8:46 AM CST

Stocks Limp Higher

(Newser) - Stocks inched higher at the open today, after a punishing session yesterday that left them at their lowest closing level since 1997. The Dow rose 40 points, while the Nasdaq and S&P each gained 0.7%. Financials are still the focus, with AIG shares tumbling 23% on reports it...

Treasury Seeks Bankruptcy Financing for GM, Chrysler

Feb 23, 2009 7:30 AM CST

Treasury Seeks Bankruptcy Financing for GM, Chrysler

Obama administration will not rule out Chapter 11 for ailing autos

(Newser) - Treasury advisers are working to line up $40 billion in financing for General Motors and Chrysler—5 times the size of any previous bankruptcy loan—just in case the two automakers need it, the Wall Street Journal reports. While efforts continue to restructure the companies by other means, the administration...

Banks Halt Foreclosures Ahead of Obama Plan

Feb 13, 2009 4:04 PM CST

Banks Halt Foreclosures Ahead of Obama Plan

Citigroup, Bank of America, JP Morgan Chase suspend proceedings until next month

(Newser) - Major US banks agreed today to halt foreclosure proceedings against homeowners until the White House foreclosure prevention plan is in place, the Washington Post reports. Citigroup, JPMorgan Chase, and Bank of America will suspend foreclosures until early March, when the foreclosure plan is expected to be operational. President Obama is...

I'd Rather Say I'm in Porn: Shunned Wall Streeter

Feb 3, 2009 9:31 AM CST

I'd Rather Say I'm in Porn: Shunned Wall Streeter

Financial types feel they're unfairly 'vilified' in crisis

(Newser) - Working on Wall Street used to have glamor to it—but now, saying you work at JPMorgan or Goldman Sachs immediately establishes you as “one of them,” the New York Times reports. Wall Streeters are facing a new pariah status, and many believe they’re taking an unfair...

Bank Dumped Madoff Funds— but Didn't Tell
Its Clients

Jan 29, 2009 6:00 AM CST

Bank Dumped Madoff Funds— but Didn't Tell Its Clients

JPMorgan beat scam while investors lost out

(Newser) - JPMorgan Chase emerged from Bernie Madoff's Ponzi scheme unscathed, but some of the bank's clients weren't so lucky. For years the bank offered its clients derivatives that were ultimately linked to Madoff, and also put $250 million in those funds. But a joint investigation by the New York Times and...

Jumbo Mortgage Defaults Soar

Jan 28, 2009 8:33 AM CST

Jumbo Mortgage Defaults Soar

Banks and investors brace for a new wave of defaults as jumbo loans default

(Newser) - Jumbo mortgages are now going south at an alarming rate, reports the Wall Street Journal, as affluent Americans face mounting layoffs and see their stock portfolios shrivel. Nearly 7% of prime jumbo loans—which average $750,000—were at least 90 days delinquent at the end of 2008, up from...

Pfizer Deal's $22.5B in Loans Hasn't Unlocked Credit

ANALYSIS

Jan 27, 2009 9:11 AM CST

Pfizer Deal's $22.5B in Loans Hasn't Unlocked Credit

$22.5B loan in deal to acquire Wyeth comes at 7-9% interest, and lenders can walk

(Newser) - Think Pfizer’s $68 billion deal to buy Wyeth, financed in part with $22.5 billion in loans, means credit markets have thawed? Think again, the Wall Street Journal reports. Pfizer’s lenders—including JPMorgan, Bank of America, Goldman, and Citigroup—are charging high interest (7%-9%, with loans due in...

Pfizer Snaps Up Wyeth for $68B

Jan 26, 2009 6:11 AM CST

Pfizer Snaps Up Wyeth for $68B

Merger would be largest pharma deal since GlaxoWellcome-SmithKline 2000 merger

(Newser) - The world’s largest drugmaker, Pfizer, is poised to become even more gargantuan after it agreed early this morning to buy rival Wyeth for $68 billion, reports the Wall Street Journal. In the first major merger to hit Wall Street in months, Pfizer will borrow $22.5 billion from four...

Biotech Boom Finally Fizzles

Glossies

Jan 21, 2009 7:00 AM CST

Biotech Boom Finally Fizzles

Riskiest sector hit by downturn

(Newser) - In the bullish market, biotechnology was flush with investment, even though one drug might take many as 15 years and as much as a billion dollars to produce—but those days are over for the riskiest technology sector. Portfolio reports that 45% of publicly traded biotech companies will run out...

Dow Up 12 After Dip Below 8K

MARKETS

Jan 15, 2009 3:38 PM CST

Dow Up 12 After Dip Below 8K

Banks' continued troubles unnerve investors

(Newser) - Stocks finished just barely in positive territory today, MarketWatch reports. Nervousness about US banks’ continued need for government funds dropped the Dow below 8,000, but bargain-hunters pushed the index higher, and it closed at 8,212.49, up 12.35 points on the day. The Nasdaq rose 22.20,...