Jamie Dimon Agrees With Occupy Wall Street: 'Too Much Inequality'
In a speech, JPMorgan Chase CEO Jamie Dimon said the U.S. has "too much inequality" -- a striking sentiment coming from Wall Street's leading defender of financial elites.
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Ex-JPMorgan Exec Says Jamie Dimon Withheld Data From U.S.
JPMorgan Chase CEO Jamie Dimon held back showing federal regulators reports in May that revealed the bank had accumulated billions of dollars in trading losses, according to congressional testimony Friday from the firm's former chief financial officer.
JPMorgan Hid London Whale Trading Risks, Senate Panel Says
A Senate panel issued a scathing report on JPMorgan's $6.2 billion trading loss last year, saying the bank ignored growing risks and hid losses from investors and regulators.
Midday Market Minute: Will the Bank Stock Rally Last?
Investors will hear from leaders in the banking industry this week, when Bank of America, Citigroup, JPMorgan, Goldman Sachs and Morgan Stanley report quarterly results. Bank stocks outperformed the broader market last year, but that trend may not last in 2013.
Fewer U.S. Banks Failing as Industry Strengthens
U.S. banks are ending the year with their best profits since 2006 and fewer failures than at any time since the financial crisis struck in 2008. They're helping support an economy slowed by high unemployment, flat pay, sluggish manufacturing and anxious consumers.
JPMorgan Turns in Record Profit, Higher Revenue
JPMorgan Chase reported a record quarterly profit Friday. The bank said it made $5.3 billion in earnings for common shareholders, a widely used measurement, from July through September, up 36 percent from the same period a year ago.
US Bank Earnings Rose 21 Percent in Q2, Lending Up
U.S. bank earnings rose 21 percent in the April-June quarter and lending to consumers increased, adding to evidence that the industry is strengthening four years after the financial crisis.
Dimon Faces Tougher Questions on $2 Billion Trading Loss
JPMorgan Chase CEO Jamie Dimon had a much tougher reception Tuesday when he returned to Capitol Hill for a second round of questions over the bank's $2 billion trading loss.
At Last, Citigroup Starts to Pull Through
It took a while -- three years, really -- but Citigroup, by far the weakest of the big banks coming out of the recession, is starting to pull through. After this morning's second-quarter earnings report of $3.3 billion, or $1.09 per share, investors have several things to rejoice over.
Inside JPMorgan Chase's Earnings
JPMorgan Chase reported a second-quarter profit of $5.4 billion, or $1.27 per share this morning, up from $4.8 billion, or $1.09 per share a year ago. Digging into the earnings supplemental, we can see how -- as in previous quarters -- JPMorgan's investment bank carried the company's overall results.
The Financial Landscape: Geithner Gossip Groundless
Citing unnamed sources, news outlets reported Thursday evening that Treasury Secretary Timothy Geithner might leave the Obama administration soon. In response to the rumors, Geithner insisted, "I live for this work.... I'm going to be doing it for the foreseeable future."
An ETF to Watch: Financial Services Fund
With sales estimates gloomy, the Dow Jones U.S. Financial Services ETF may be a great bet. So far in 2011, it has had a return of just over 2.6% and a dividend yield of .5%
Some Big Banks Get Approval to Hike Dividends
The Federal Reserve is telling some major banks that they can now boost stock dividends if they pass "stress tests" showing that they can weather another recession. During the financial crisis, regulators barred banks from boosting dividends without obtaining approval.
The Scariest Part of Soaring Oil Prices: Investors' Fears
Recent market sell-offs may have been more about paranoia than about real risk. JPMorgan calculations indicate that the potential impact of rising oil prices on the economy may be less than most investors think. But the fear factor itself also can't be overlooked.