JPMorgan Chase – News Stories About JPMorgan Chase - Page 16

Mar 12, 2008 12:03 PM CDT

Home-Equity Loans Latest to Bite Banks

Even lenders that dodged subprime chaos suffering big trickle-down losses

(Newser) - Home-equity loan defaults are soaring, the Wall Street Journal reports, as the trickle-down effect of the subprime mortgage crisis makes its way into what was once a source of big profits for lenders. JP Morgan Chase and Wells Fargo both escaped major writedowns on subprime mortgages gone bad, but already...

Goldman Analysts Warn of Next Crisis

Mar 3, 2008 4:10 PM CST

Goldman Analysts Warn of Next Crisis

Commercial real estate outlook even worse than subprime situation

(Newser) - Commercial real estate could be the next victim of the current economic downturn, and if it is, expect it to cause another full-fledged crisis, the Wall Street Journal reports. Commercial real estate values could fall as much as 26% over the next 2 years, Goldman Sachs analysts predict, leading to...

Shakeup May Signal E*Trade's Availability

Mar 3, 2008 10:48 AM CST

Shakeup May Signal E*Trade's Availability

New chairman could steer struggling brokerage toward buyer

(Newser) - E*Trade Financial, stung by mortgage- and mortgage-backed securities market losses, is adding CEO to chairman Donald Layton's duties. The company may be dolling itself up for a possible sale by polishing its tarnished image, the Wall Street Journal reports. Since Layton, 57, became chairman in November, the brokerage has rebounded...

Lobbyists Pack Ethics Crusader McCain's Staff

Feb 22, 2008 8:00 PM CST

Lobbyists Pack Ethics Crusader McCain's Staff

Forget Iseman: Senior advisers represent major corporations

(Newser) - Vicki Iseman is just the tip of the iceberg when it comes to John McCain’s associations with lobbyists, the Washington Post reports. McCain targets special interests, but his campaign manager and top advisers are or have been lobbyists representing some of the country’s biggest corporations. Top adviser Charles...

Dow Falls as Nasdaq Posts Gains

MARKETS

Feb 8, 2008 3:57 PM CST

Dow Falls as Nasdaq Posts Gains

Wholesale inventories, financials struggle, but tech holds its ground

(Newser) - Stocks showed mixed results today, as the Dow rallied and then teetered to a loss off lingering fears of recession. Meanwhile, the Nasdaq posted moderate gains buoyed by strong showings by Amazon, Google, Apple, and Research in Motion, Marketwatch reports. The Nasdaq gained 11.82 to end at 2,304....

Sallie Mae Drops $900M Lawsuit

Jan 29, 2008 9:31 AM CST

Sallie Mae Drops $900M Lawsuit

Move helps struggling student loan provider obtain $31B in financing

(Newser) - Beleaguered student loan provider Sallie Mae yesterday dropped its $900 million lawsuit against the onetime suitors who bailed on a $25.3 billion buyout after the credit crunch caused would-be investors to walk away, reports the Washington Post. By agreeing not to seek the penalty from investment firm JC Flowers...

Hawks Circling Subprime Carnage

Jan 17, 2008 12:33 PM CST

Hawks Circling Subprime Carnage

JP Morgan's Dimon among the survivors looking to clean up

(Newser) - After largely dodging the subprime bullet that tore through most of Wall Street’s big banks, JP Morgan Chase is looking to make a move, the Wall Street Journal reports. Buoyed by three years of cost cutting and refocusing its business, Morgan has nearly doubled its mortgage market, is flush...

JP Morgan Profit Drops 34% in Q4

Jan 16, 2008 7:03 AM CST

JP Morgan Profit Drops 34% in Q4

$1.3B in subprime writedowns hit earnings at third-largest bank

(Newser) - Subprime mortgage writedowns of $1.3 billion cut deeply into better-than-expected revenue gains at JP Morgan Chase in the fourth quarter, leaving the nation’s third-largest bank with net income of $2.97 billion, or 86 cents per share, a 34% drop from a year ago, reports Bloomberg. The writedown...

Blair Takes
$1M Part-Time JPMorgan Job

Jan 10, 2008 9:32 AM CST

Blair Takes $1M Part-Time JPMorgan Job

Ex-PM will advise on global politics, retain Mideast envoy role

(Newser) - Former British PM Tony Blair will advise JPMorgan Chase on global politics, and pick up a check in the neighborhood of $1 million for his part-time trouble. Blair will keep his current job as the Quartet's envoy to the Middle East, reports the Times of London, but it's hardly his...

Goldman Sees Bigger Losses for Big Banks

Dec 27, 2007 10:24 AM CST

Goldman Sees Bigger Losses for Big Banks

Predicts larger writedowns at Citi, Merrill, JP Morgan

(Newser) - Goldman Sachs has some bad news for Citigroup, Merrill Lynch, and JPMorgan Chase: An analyst predicts even bigger fourth-quarter writedowns for all three firms than they've already cottoned to, thanks to continued exposure to collateralized debt. The losses will be “significantly larger than investors are anticipating.” How large...

Americans Falling Behind on Credit Cards

Dec 23, 2007 10:35 PM CST

Americans Falling Behind on Credit Cards

Amount overdue on US accounts surged 26% in October

(Newser) - It’s already looking like an iffy New Year for many credit-card holders: the number of Americans falling behind on their payments spiked sharply this year and analysts don’t expect 2008 to be much brighter. The value of credit card accounts at least 30 days late surged 26% in...

Banks Scuttle SIV Bailout

Dec 21, 2007 3:56 PM CST

Banks Scuttle SIV Bailout

BoA, Citi and JP Morgan drop subprime fix over lack of interest

(Newser) - The three banks charged by Treasury with setting up a fund to bail out investments threatened by the subprime mess are abandoning the project, the Wall Street Journal reports. Citigroup, Bank of America and JP Morgan Chase had been working since September on the plan to rescue structured investment vehicles,...

Credit, Economy Bring
M&A Action to a Crawl

Dec 18, 2007 11:40 AM CST

Credit, Economy Bring M&A Action to a Crawl

After a golden year for LBOs, experts see a chilling of a once-hot market

(Newser) - The slowing economy and financing costs that have more than doubled since June because of the subprime collapse could ice the pace of mergers and acquisitions in 2008, Bloomberg reports. After a record $3.9 trillion in deals in 2007, analysts predict transaction value could plummet 20%. "The mega-LBO...

Stocks Inch Up After Fed Action

MARKETS

Dec 12, 2007 3:29 PM CST

Stocks Inch Up After Fed Action

Bad news and lingering doubts about yesterday's cut keep rally tame

(Newser) - Stocks gained slightly after the Fed's decision to join four other central banks in pumping cash into the global financial system. Following yesterday's plunge of nearly 300 points after the Fed cut interest rates by only a quarter-point, the Dow gained 41.13 to close at 13,473.90. The...

Stocks Fall on Credit Worries

MARKETS

Dec 4, 2007 3:39 PM CST

Stocks Fall on Credit Worries

JPMorgan says earnings will drop at big brokerages

(Newser) - Stocks fell again today after JPMorgan Chase predicted that profits would drop at big brokerages. Meanwhile, lower oil prices lowered earning prospects for energy companies, reports Bloomberg. "Until credit loosens up, you can't get a solid footing in the market," says a manager. The Dow was down 65....

Dow Dips Below 13K

Nov 12, 2007 3:38 PM CST

Dow Dips Below 13K

Markets seesaw, close down

(Newser) - The Dow closed below 13,000 today after seesawing on bad news from the financial sector and falling oil prices. The Dow finished at 12,987.55, down 55.19, after E*Trade said further mortgage-related write-downs might come—and its shares dropped 56%. The Nasdaq slid 43.81 to close...

Big Banks Settle on Superfund Terms

Nov 11, 2007 12:49 PM CST

Big Banks Settle on Superfund Terms

Paulson says fund will help, but analysts bearish on its prospects

(Newser) - The country’s top three banks have finalized agreements for the $75 billion superfund they hope will cushion further blows to the credit market, reports the NY Times. After nearly two months of haggling, Bank of America, Citigroup, and JPMorgan Chase agreed to simpler conditions than outlined in the fund’...

Banks to Form $100B Fund to Back Mortgage Securities

Oct 13, 2007 6:37 PM CDT

Banks to Form $100B Fund to Back Mortgage Securities

Critics say plan is unnecessary, only helps Citigroup

(Newser) - Citigroup and other major banks are banding together to create a $100-billion fund to buy back shaky mortgage securities in order to contain the threat of their undermining the markets and hurting the economy. The unprecedented project, pooling money from banks like JP Morgan and Bank of America, has been...

Tech Stocks Bring Market Down

Oct 11, 2007 4:03 PM CDT

Tech Stocks Bring Market Down

Afternoon fall erased earlier gains from Wal-Mart's rosy numbers

(Newser) - After flirting with record highs earlier in the day, the markets were brought down to Earth this afternoon by falling tech stocks. The likes of Google, Yahoo, and Apple retreated after JPMorgan cut its third-quarter forecast for Chinese search engine Baidu.com. The S&P 500 dropped 8.06 to...

Sallie Mae Sues Spooked Suitors

Oct 9, 2007 5:45 AM CDT

Sallie Mae Sues Spooked Suitors

Student-loan giant refuses to renegotiate $25B buyout deal

(Newser) - College student lender Sallie Mae is suing a group of private equity firms and banks that are backing out of a $25-billion buyout deal. The group—J.C. Flowers & Company, Friedman Fleischer & Lowe, JP Morgan Chase and Bank of America—had set a deadline of today for negotiating...