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....Germany's Dax broke through 12,400 points for the first time, led higher by Commerzbank and Deutsche Bank. In the US, JP Morgan and Goldman Sachs were the Dow's biggest risers, gaining 3. ... [Read full article on BBC ]
Sunday 23rd of April 2017 09:16:09 PM
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....Other City employers are making plans. JP Morgan is considering buying office space in Dublin, and Citigroup has warned it may have to relocate “certain client-facing roles to the EU from the UK”. ... [Read full article on Guardian ]
Wednesday 26th of April 2017 06:03:42 PM
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....That's the view of some current and former shareholders who tell me that not only would Barclays suffer if the US boss was pushed out during his so-far successful turnaround of the 360-year-old bank but also, weakening the UK's last major investment bank would be bad for the entire UK financial landscape. Jes Staley is under investigation by authorities for twice trying to identify the author of a letter raising questions about Staley's decision to recruit an old colleague from his JP Morgan days who had been through personal issues that had led to "erratic behaviour". ... [Read full article on BBC ]
Friday 28th of April 2017 06:36:15 AM
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....UK politicians also command hefty fees for speeches. The former chancellor George Osborne – who is not standing for re-election in June – disclosed that he had received more than £500,000 from speeches in the US, including two events for JP Morgan at £81,174 and £60,578 each, last year. ... [Read full article on Guardian ]
Wednesday 26th of April 2017 09:28:37 AM
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....Staley refused to provide any more details about the situation, which has stunned the City since the bank said two weeks ago that his bonus would be cut after he became too involved in the whistleblowing case. This related to the conduct of Tim Main, who worked with Staley at US bank JP Morgan and was then recruited to Barclays in a senior role last June. ... [Read full article on Guardian ]
Friday 28th of April 2017 08:27:59 AM
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....Staley will be braced for questions about his conduct when the bank reports its first-quarter results on Friday. He has issued a written apology for becoming too personally involved in the whistleblowing case, which related to the conduct of Tim Main, who worked with Staley at US bank JP Morgan and was then recruited to Barclays in a senior role last June. ... [Read full article on Guardian ]
Thursday 27th of April 2017 06:37:05 PM
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Latest Finance News related to JP Morgan

Barclays chief admits he 'made a mistake' over whistleblowing case image
Source : Guardian [Read Article] Friday 28th of April 2017 08:27:59 AM
....Staley refused to provide any more details about the situation, which has stunned the City since the bank said two weeks ago that his bonus would be cut after he became too involved in the whistleblowing case. This related to the conduct of Tim Main, who worked with Staley at US bank JP Morgan and was then recruited to Barclays in a senior role last June. ...
Barclays profits more than double image
Source : BBC [Read Article] Friday 28th of April 2017 06:36:15 AM
....That's the view of some current and former shareholders who tell me that not only would Barclays suffer if the US boss was pushed out during his so-far successful turnaround of the 360-year-old bank but also, weakening the UK's last major investment bank would be bad for the entire UK financial landscape. Jes Staley is under investigation by authorities for twice trying to identify the author of a letter raising questions about Staley's decision to recruit an old colleague from his JP Morgan days who had been through personal issues that had led to "erratic behaviour". ...
Barclays boss faces shareholder revolt over whistleblowing case image
Source : Guardian [Read Article] Thursday 27th of April 2017 06:37:05 PM
....Staley will be braced for questions about his conduct when the bank reports its first-quarter results on Friday. He has issued a written apology for becoming too personally involved in the whistleblowing case, which related to the conduct of Tim Main, who worked with Staley at US bank JP Morgan and was then recruited to Barclays in a senior role last June. ...
Deutsche Bank: 4,000 jobs at risk of being moved out of UK after Brexit image
Source : Guardian [Read Article] Wednesday 26th of April 2017 06:03:42 PM
....Other City employers are making plans. JP Morgan is considering buying office space in Dublin, and Citigroup has warned it may have to relocate “certain client-facing roles to the EU from the UK”. ...
Barack Obama to be paid $400,000 for speech at Cantor Fitzgerald event image
Source : Guardian [Read Article] Wednesday 26th of April 2017 09:28:37 AM
....UK politicians also command hefty fees for speeches. The former chancellor George Osborne – who is not standing for re-election in June – disclosed that he had received more than £500,000 from speeches in the US, including two events for JP Morgan at £81,174 and £60,578 each, last year. ...
United Airlines shows why it's time to deplane corporate-speak image
Source : Guardian [Read Article] Sunday 16th of April 2017 05:59:23 AM
....A quick recap of the Barclays story: when Tim Main was hired to the bank in a senior position, a couple of letters were sent to the board and a senior executive making allegations about his past conduct. Main and Staley had worked together for years at JP Morgan: sources say Staley was already aware of these past issues and felt that not only were the allegations unfounded, but that someone was trying to smear his long-time associate. ...
JPMorgan and Citi quarterly profit helped by higher rates image
Source : BBC [Read Article] Thursday 13th of April 2017 11:11:57 AM
....Both reports beat analyst expectations. JP Morgan chief executive, Jamie Dimon, said the background to the results was healthy: "US consumers and businesses are healthy overall and with pro-growth initiatives and improving collaboration between government and business, the US economy can continue to improve. ...
FTSE 100 slides as bank shares lose ground image
Source : BBC [Read Article] Thursday 13th of April 2017 08:04:39 AM
. Banking shares dragged the London market lower after healthy results from US banks including JP Morgan and Citigroup failed to boost confidence. ...
Barclays boss used bank's security team to hunt for whistleblower image
Source : Guardian [Read Article] Monday 10th of April 2017 09:06:17 AM
.... On the second occasion, the security team received assistance from a US law enforcement agency, but still failed to identify the whistleblowers. The letters are understood to have made allegations about the previous conduct of Tim Main, who worked with Staley at US bank JP Morgan and was then recruited to Barclays in a senior role last June. ...
Bank of England orders financial firms to draft Brexit contingency plans image
.... That in turn has prompted warnings about a blow to tax revenues for the exchequer and to the UK’s economic growth prospects. The insurers Lloyd’s of London and Royal London are setting up subsidiaries outside the UK, while the investment banks JP Morgan and Citigroup are actively exploring the relocation of key operations. ...
Donald Trump tells banks he will give laws a 'haircut' image
Source : BBC [Read Article] Tuesday 4th of April 2017 09:50:19 PM
.... And Mr Trump's failure to push through healthcare reforms had shown how tough this might be. The president's remarks have the backing of Jamie Dimon, chairman and chief executive of one of the world's biggest banks, JP Morgan Chase. ...
Ignore the nanny-state claims – credit card firms need to help those in long-term debt | Nils Pratley image
....The news that Apple, which accounts for roughly half of Imagination’s revenues, plans to stop using Imagination’s technology within 15 months to two years wiped more than 60% off its share price. Analysts at JP Morgan were particularly glum about the situation, brutally describing it as “potentially fatal” for Imagination. ...
EU financial centres vie to poach tens of thousands of City jobs image
Source : Guardian [Read Article] Monday 3rd of April 2017 05:30:14 AM
.... But Paris hosts four of the EU’s top 10 banks, and claims 330,000 finance services workers and the mantle of the largest financial centre in the EU after Brexit. Last week, it emerged that JP Morgan was considering buying an office in Dublin, with space for 1,000 workers. ...
FTSE 100 slides as South African-exposed firms hit image
Source : BBC [Read Article] Friday 31st of March 2017 07:52:27 AM
....8%, after a couple of broker upgrades. HSBC raised its rating on the UK insurance group to "buy", while it was lifted to "overweight" at JP Morgan. ...
London will remain Europe’s financial capital despite Brexit | Nils Pratley image
.... If vast chunks of EU-only financial activity have to be cleared within the EU, it is conceivable that sizeable trading teams could shift. Consider moves such as JP Morgan’s bid to buy an office in Dublin as sensible contingency planning: the bank won’t necessarily move hundreds of jobs, but it needs to be able to act quickly if necessary. ...
Leading City firms begin to lay groundwork for London jobs exodus image
Source : Guardian [Read Article] Thursday 30th of March 2017 01:06:02 PM
....A growing number of leading City firms have revealed they are now laying the groundwork for an exodus of thousands of jobs from London after Britain’s vote to leave to EU. Just a day after Theresa May formally triggered the process for Brexit it was confirmed that the insurers Lloyd’s of London and Royal London are setting up subsidiaries outside the UK, while the investment banks JP Morgan and Citigroup are actively exploring the relocation of key operations. ...
Lloyd’s of London will move jobs to new Brussels office image
Source : Guardian [Read Article] Wednesday 29th of March 2017 05:21:41 PM
....The US insurance giant AIG announced this month that it would set up an EU subsidiary in Luxembourg, where it already has a branch, to serve EU clients after Brexit. Others such as JP Morgan have not yet decided on a location – its chief executive, Jamie Dimon, has warned that up to 4,000 of its 19,000 UK staff could be relocated. ...
London's leading shares lose ground image
Source : BBC [Read Article] Wednesday 22nd of March 2017 08:45:47 AM
.... . "This is a classic risk-off move - people fly to safety, to the names that they know, as they reprice their fiscal policy outlook," said JP Morgan Asset Management's Alex Dryden. ...
Bank that lent $300m to Trump linked to Russian money laundering scam image
Source : Guardian [Read Article] Tuesday 21st of March 2017 07:00:14 PM
....During this period many Wall Street banks got out of Latvia, citing concerns that the small Baltic country had become a centre for international money laundering, especially from neighbouring Russia. In 2013, and under US regulatory pressure, JP Morgan Chase ceased providing dollar clearing services to the country. ...
Goldman Sachs to move hundreds of staff out of London due to Brexit image
Source : Guardian [Read Article] Tuesday 21st of March 2017 05:26:34 PM
.... Swiss bank UBS has indicated that 1,000 of its 5,000 staff could shift, possibly to Frankfurt or Madrid. US bank JP Morgan hassaid 4,000 UK jobs are at risk. ...
US billionaire philanthropist David Rockefeller dies at 101 image
Source : BBC [Read Article] Monday 20th of March 2017 07:01:10 PM
....David Rockefeller graduated from Harvard in 1936 and received a doctorate in economics from the University of Chicago in 1940. He then served in the army World War Two before working at Chase Bank, which later became JP Morgan Chase. ...
Striver? Tory architect of austerity George Osborne banks £1m fortune image
....Osborne has made £786,450 giving 15 speeches since he was sacked as chancellor. Over two days in October he earned £141,752 for giving two speeches, lasting seven hours combined, to US investment bank JP Morgan, which also paid for his travel and accommodation. ...
What are the UK's highest paid apprenticeships of 2017? image
Source : Guardian [Read Article] Thursday 9th of March 2017 09:42:43 AM
....There are a variety of apprenticeships available in financial services, which span a range of specialisms, including: investment, operations, technology and finance. Investment banking companies such as JP Morgan offer a scheme that covers these areas, while Barclays, Lloyds and Santander offer trainee roles in finance, digital technology, audit and management. ...
Osborne to earn £650,000 a year advising US financial firm image
Source : BBC [Read Article] Wednesday 8th of March 2017 08:31:00 PM
....He joins his former chief of staff, Rupert Harrison, who is a senior strategist for the US investment firm. Former foreign secretary William Hague joined Citigroup as an adviser earlier this year while former prime minister Gordon Brown sits on the global advisory board at investment manager Pimco, and his predecessor Tony Blair joined JP Morgan in 2008 shortly after leaving office. ...
The oil deal, the disgraced former minister, and $800m paid via a UK bank image
....Britain’s commitment to tackling high-end money laundering through the City of London is under serious scrutiny after it emerged that regulators appear to have waved through an $800m bank transfer to a convicted criminal as the proceeds from one of the most corrupt deals in the history of the oil industry. A joint investigation by the Observer and journalists from Finance Uncovered, a non-profit organisation based in London, has discovered that prosecutors in Milan believe two payments of $400m each were wired through JP Morgan in London as the spoils of a huge deal to develop a Nigerian oilfield involving Shell, its joint venture partner the Italian oil giant Eni, and the government in Abuja. ...
Sorry, Brexit doomsayers, the outlook is good on global growth image
Source : Guardian [Read Article] Saturday 4th of March 2017 05:00:20 PM
....Built on the expansion of manufacturing output from Europe to China and the US to Japan are February figures showing global trade grew at the fastest rate for just under six years. An index of global manufacturing health – the JP Morgan Global Manufacturing purchasing managers index (PMI) – has risen to its highest since May 2011. ...
Dow Jones breaks through 21,000 mark image
Source : BBC [Read Article] Wednesday 1st of March 2017 09:48:45 PM
....He has also promised to cut taxes and boost infrastructure spending. Financial firms were the top gainers on the Dow, with JP Morgan Chase and American Express both up more than 2. ...
Will Trump build a wall protecting US banks from global rules? | Howard Davies image
....Such a reversal would generate tensions within the Fed, and where it would leave the FSB, or indeed the Basel Committee, is unclear. In the early days of the Bank for International Settlements (where the Basel Committee’s secretariat is located) in the 1930s, the US government declined to take a board seat, and the US was represented by JP Morgan. ...
Trump's bonfire of banking rules could burn us all | Nils Pratley image
Source : Guardian [Read Article] Monday 6th of February 2017 07:14:50 PM
.... Their dominance of international financial markets is greater even than it was in 2008-09 and the explanation, in part, is surely that they were faster and more determined in raising the extra capital that the FSB and Basel committees requested. JP Morgan, Morgan Stanley, Goldman Sachs et al got back to the races years ago. ...
Frankfurt prepares for Brexit bankers: 'Maybe our city will change them' image
Source : Guardian [Read Article] Friday 27th of January 2017 07:15:19 AM
....Sources within Citigroup have acknowledged the investment bank is contemplating moving some of its London-based traders to Frankfurt, though there has been no official confirmation. Executives from JP Morgan Chase and Morgan Stanley, meanwhile, have said they are sure to move staff from London in the case of the UK losing so-called “passporting rights”, but have refused to be drawn as to which city they favour. ...
Citigroup plans new operations away from London after Brexit image
Source : Guardian [Read Article] Tuesday 24th of January 2017 07:49:23 PM
....As a result of its structure, Citi may face less disruption as a result of Brexit compared with other major employers. JP Morgan warned in the run to the referendum that 4,000 UK jobs are at risk, while HSBC has reiterated that it will have to shift 1,000 roles to Paris to retain access to certain business operations after the UK leaves the EU. ...
Goldman Sachs stalls plan to move jobs to UK amid Brexit uncertainty image
Source : Guardian [Read Article] Thursday 19th of January 2017 01:15:50 PM
.... The Swiss bank is said to have held talks with the Spanish authorities about moving 300 roles to Madrid, although the finance ministry said it would not comment on private meetings. Jamie Dimon, boss of JP Morgan, which has already warned that 4,000 UK jobs are at risk, said on Wednesday: “It looks like there will be more job movement than we hoped for. ...
Stonewall names Lloyds the UK's most inclusive employer image
Source : Guardian [Read Article] Thursday 19th of January 2017 12:01:22 AM
....Lloyds also supported awareness days and social media campaigns as well as flying bisexual and transgender flags at 35 sites. Law firm Pinsent Masons came second, followed by US banker JP Morgan, while intelligence agency MI5, which was top last year, was joint-fifth with the Welsh Assembly. ...
JP Morgan Chase to pay $55m to settle racial discrimination charges image
Source : Guardian [Read Article] Wednesday 18th of January 2017 04:50:34 PM
. JP Morgan Chase agreed to pay $55m to settle charges that the bank discriminated against “thousands” of minorities seeking home loans by charging them higher rates and fees. ...
US charges three foreign exchange traders image
Source : BBC [Read Article] Tuesday 10th of January 2017 11:28:46 PM
....The three are Richard Usher, Rohan Ramchandani and Chris Ashton,. They worked at, respectively, the banks JP Morgan, Citigroup and Barclays. ...
Brexit wasn’t a ‘Michael Fish moment’: but economics does need to change image
.... They are about to find out the size of their annual bonuses. The US banks traditionally go first: JP Morgan and Bank of America report results – and the size of their bonus pools – this week, with Goldman Sachs and Morgan Stanley to follow. ...
Murder, she wrote: the missing bankers thriller image
Source : Guardian [Read Article] Sunday 8th of January 2017 07:00:11 AM
....Yes, it is the beginning of the banking reporting season, where no one takes much notice of profits, but instead focuses on the far more important issue of how much these delightfully self-effacing characters have earned for themselves. JP Morgan kicks off a season that sees bankers sashaying along the corridor to the boss’s office to be given their “number” – a number that dictates what flash motor they can buy – and how much the rest of us love them for it. ...
We contribute billions to US economy, Toyota politely tells Trump image
Source : Guardian [Read Article] Friday 6th of January 2017 06:54:40 AM
....Analysts said import taxes would have little effect on Toyota’s business in the region. “We think the impact on business performance is limited,” said Akira Kishimoto at JP Morgan. ...
Chief economist of Bank of England admits errors in Brexit forecasting image
Source : Guardian [Read Article] Thursday 5th of January 2017 08:52:01 PM
....”. Flanders, who now works for JP Morgan, agreed that economists had a long record of being wrong on direct forecasts while expressing concerns about the consequences of expertise being dismissed out of hand. ...
FTSE 100 bolstered by Persimmon update image
Source : BBC [Read Article] Thursday 5th of January 2017 09:04:25 AM
....1% to 639. 5p after JP Morgan reduced its price target for the stock. ...
Paris lobby predicts City firms will make decision on moving within weeks image
.... Paris was mentioned by Britain’s biggest bank, HSBC, which said it could shift 1,000 roles there. The US bank JP Morgan said it could move 4,000 of its 19,000 UK workforce but did not specify where the roles might go. ...
Brexit: banks consider whether to start moving business out of UK image
Source : Guardian [Read Article] Tuesday 3rd of January 2017 06:00:45 AM
....In the run-up to the 23 June referendum, banks warned about the consequences of a vote to leave the EU. US bank JP Morgan said it could move 4,000 of its 19,000 UK workforce. ...
Observer business agenda’s review of the year image
Source : Guardian [Read Article] Sunday 1st of January 2017 09:00:02 AM
....Somehow the judges overlooked the claims of the Leave campaign in June’s referendum for “We send the EU £350m a week: let’s fund our NHS instead” as well as its rivals in the Remain camp for all sorts of far-fetched plots in its entry, Project Fear. Pages from that tome included IMF boss Christine Lagarde’s “We have done our homework and we haven’t found anything positive to say about a Brexit vote”; JP Morgan chief Jamie Dimon’s warning he could cut 4,000 UK jobs if Britain voted to leave the EU; plus, of course, then chancellor George Osborne’s warning that he’d have to slash public spending and increase taxes in an emergency budget to tackle a £30bn “black hole”. ...
Nearly 1,000 City staff  at four big US banks given €1m in pay deals in 2015 image
Source : Guardian [Read Article] Wednesday 28th of December 2016 05:34:51 PM
....Goldman Sachs, the highest profile Wall Street bank, disclosed that 11 of its key staff received at least €5m in 2015. The disclosures by Goldman, JP Morgan, Morgan Stanley and Bank of America Merrill Lynch show that 971 of their staff received €1m in 2015. ...
Brexit, strikes and pay revolts: the year in business image
Source : Guardian [Read Article] Wednesday 28th of December 2016 06:00:27 AM
.... 2017 will be the test of that. Jamie DimonAs chief executive of America’s biggest bank, JP Morgan, Dimon’s words and actions will be of particular interest in the UK in 2017. ...
Barclays' defiance of US fines has merit image
Source : Guardian [Read Article] Friday 23rd of December 2016 04:03:46 PM
....There is also a strong suspicion that the roulette wheel is weighted against the Europeans. US banks, in the forms of JP Morgan, Goldman Sachs, Morgan Stanley, Bank of America and Citi, were at the front of the queue for settlement for no obvious reason. ...
Deutsche Bank and Credit Suisse agree multibillion-dollar settlements with US image
....The penalties are part of an effort by outgoing president Barack Obama to hold banks accountable. These are the first major agreements to be reached with non-US banks – JP Morgan, Goldman Sachs, Morgan Stanley, Bank of America Merrill Lynch and Citi have all been punished. ...
Deutsche Bank agrees $7.2bn penalty with US regulators image
Source : BBC [Read Article] Friday 23rd of December 2016 03:48:53 AM
....Other banks that have been ordered to pay fines by the US Department of Justice include Citigroup, which says its $12bn penalty has been reduced to $7bn. In 2013, JP Morgan Chase was fined $13bn, following allegations that it overstated the quality of mortgages being sold to investors. ...
US justice department accuses Barclays over mortgage mis-selling image
Source : Guardian [Read Article] Thursday 22nd of December 2016 10:59:23 PM
.... The scheme involved 36 RMBS deals in which $31bn worth of loans were packaged up in securitisations. The DoJ more usually reaches settlements with major financial firms over its investigations and has done so in relation to RMBS with a number of US banks, including JP Morgan, Goldman Sachs, Morgan Stanley, Bank of America Merrill Lynch and Citi. ...
Italian cabinet gives green light to Monte dei Paschi di Siena bailout image
Source : Guardian [Read Article] Thursday 22nd of December 2016 02:09:24 PM
....Within hours of that announcement, Gentiloni convened his cabinet and formally approved the state rescue plan. The bank also announced that the two investment banks that tried unsuccessfully to arrange the private investment – JP Morgan and Mediobanca – would not receive any fees for their work. ...
Adani coalmine 'covertly funded' by World Bank, says report image
Source : Guardian [Read Article] Thursday 22nd of December 2016 05:33:56 AM
....Adani’s former adviser on Carmichael, the Commonwealth Bank, as well as National Australia Bank are among those that have either withdrawn or ruled out involvement, reportedly in part because of the environmental controversy. Another 11 of the biggest international lenders to coal projects – Deutsche Bank, HSBC, Barclays, Royal Bank of Scotland, Morgan Stanley, JP Morgan Chase, Goldman Sachs, Citi, BNP Paribas, Societe Generale and Credit Agricole – have ruled out funding Carmichael. ...
Italy's political class should be very alarmed if MPS needs state bailout image
Source : Guardian [Read Article] Wednesday 21st of December 2016 07:38:35 PM
.... It ought to be possible for a bank founded in 1472 to shuffle off its bad loans, even at depressed prices, overcome its foolish acquisitions from the boom years and regain a profitable niche. The critical sum at stake in the recapitalisation plan – €5bn – was not off the scale and JP Morgan, the Wall Street powerhouse advising MPS, was on hand to round up a few so-called anchor investors. ...
JP Morgan fined £26m over interest rate cartel image
Source : BBC [Read Article] Wednesday 21st of December 2016 09:32:10 AM
....The Swiss Competition Commission (Comco) has fined several European and US banks for rigging benchmark interest rates and related products. JP Morgan Chase received the largest fine, 33. ...
RBS, Barclays and other banks fined in Swiss franc Libor case image
Source : Guardian [Read Article] Wednesday 21st of December 2016 08:41:42 AM
....The probe also saw France’s Société Générale fined £2. 6m, while proceedings remain open against JP Morgan, BNP Paribas, Credit Agricole and Rabobank. ...
Wells Fargo fails US bankruptcy test for a second time image
Source : BBC [Read Article] Wednesday 14th of December 2016 12:41:33 AM
....The bank said it was "disappointed" with the regulators' decision. The Federal Reserve and Federal Deposit Insurance Corporation said that Bank of America, Bank of New York Mellon, JP Morgan Chase, and State Street, whose living wills were also deemed deficient in April, had now adequately addressed their shortcomings. ...
Italian banking crisis: UniCredit to raise €13bn image
Source : Guardian [Read Article] Tuesday 13th of December 2016 08:11:03 AM
....A group of investment banks have signed a pre-underwriting agreement to help UniCredit market the issue. These include Morgan Stanley, UBS, Bank of America Merrill Lynch, JP Morgan and Mediobanca. ...
Italy plans Monte dei Paschi di Siena rescue if private bailout fails image
Source : Guardian [Read Article] Monday 12th of December 2016 05:29:57 PM
.... Such a move would cost Italy between €2bn and €4bn and would fall under EU rules that forbid state intervention unless bondholders first take a hit. The private sector plan is being led by Wall Street bank JP Morgan and is thought to require a major investor – such as the sovereign wealth fund from Qatar – to commit about €1bn. ...
'I took drugs every day' image
Source : BBC [Read Article] Monday 12th of December 2016 12:03:03 AM
....Without the drugs, he was able to get his life back, and aged 24 he launched a catering company called Regis Banqueting. Today the 13-year-old business has blue-chip clients including mobile phone network O2, luxury carmaker Bentley, and investment bank JP Morgan. ...
Monte Dei Paschi bailout: what you need to know – the Guardian briefing image
....The European Central Bank issued MPS with a deadline of the end of the year to implement a plan to make it more resilient. The Wall Street bank JP Morgan has been leading efforts to revive the bank by spinning out problem loans and raising €5bn from investors. ...
Wall Street sets fresh record highs image
Source : BBC [Read Article] Thursday 8th of December 2016 09:12:14 PM
....Both the Dow and S&P 500 finished at record highs on Wednesday. Financial services firms were the winners with Goldman Sachs up more than 2% and JP Morgan up around 1. ...
Osborne earns £500,000 from New York speeches image
Source : Guardian [Read Article] Thursday 8th of December 2016 12:28:04 PM
....Previous registers showed he was paid for another five speeches earning him between £28,000 and £81,000 each. The most lucrative were two events for JP Morgan, the investment bank, at £81,174 and £60,578 each, one for Palmex Derivatives at £80,240, and another for the Securities Industry and Financial Markets Association for £69,992. ...
Banks fined £413m over euro rate rigging image
Source : BBC [Read Article] Wednesday 7th of December 2016 12:13:55 PM
....This distorted the pricing of financial products based on Euribor, the Commission said. A JP Morgan spokeswoman said the banking giant had done nothing wrong. ...
HSBC, JP Morgan and Crédit Agricole fined €485m by EU image
Source : Guardian [Read Article] Wednesday 7th of December 2016 10:22:06 AM
....A five-year investigation by competition authorities in Brussels into rigging of interest rates drew to a close on Wednesday when three major banks – including HSBC – were fined €485m (£412m) for colluding to manipulate a crucial benchmark rate. The three banks, which also included JP Morgan Chase and Crédit Agricole, did not agree to an earlier settlement involving a seven-bank cartel over the setting of the interest rate known as Euribor. ...
Italian banks damaged by referendum result, says Fitch image
Source : Guardian [Read Article] Tuesday 6th of December 2016 06:39:31 PM
....Renzi’s resignation has been temporarily frozen by the president, Sergio Mattarella, until the senate passes a budget, perhaps on Wednesday, when a new prime minister from his Democratic party is expected to take over until elections are held. The referendum, which rejected constitutional reforms favoured by Renzi, was held at a crucial time for the fresh injection of funds into MPS, where the US bank JP Morgan is helping to broker a plan to attract investors to buy its shares. ...
Dow rises to a fresh record close image
Source : BBC [Read Article] Monday 5th of December 2016 09:39:54 PM
Monte dei Paschi shares fall after Italian referendum result image
Source : Guardian [Read Article] Monday 5th of December 2016 01:59:30 PM
.... The bank was ranked as the weakest of the 51 European institutions subjected to the annual assessment. A consortium led by the Wall Street bank JP Morgan was meeting to discuss the fundraising but unlikely to make any formal decision for a few days to test the political backdrop after Renzi’s resignation. ...
Yes, Italy’s constitution needs fixing. But not as urgently as its banks do image
.... Long ago, Italians might have swallowed their pride and tipped all the non-performing loans into a bad bank. Now they are paying JP Morgan to construct a more complicated vehicle. ...
George Osborne defends earning £320,000 on speaking tour image
Source : Guardian [Read Article] Friday 2nd of December 2016 04:47:13 PM
....When the Hammonds moved into Downing Street, Osborne signed up with the same US agency as Tony Blair, the Washington Speakers Bureau, and embarked on a summer speaking tour. The most lucrative engagements were two events for the investment bank JP Morgan, for which he received £81,174 and £60,578, a speech for Palmex Derivatives (£80,240), and another for the Securities Industry and Financial Markets Association (£69,992). ...
Steven Mnuchin nominated for US treasury secretary image
Source : Guardian [Read Article] Wednesday 30th of November 2016 10:49:30 AM
....He is worth an estimated $40m (£32m) and was in charge of raising funds for Trump’s successful election campaign. He was selected in preference to contenders including Jeb Hensarling, the chairman of the house financial services committee, Jamie Dimon, the chairman and chief executive of JP Morgan, and David McCormick, the president of asset management company Bridgewater Associates. ...
Crisis prevention image
Source : BBC [Read Article] Friday 25th of November 2016 10:00:46 PM
.... Finance is one of the country's biggest industries. JP Morgan with a 38% capital ratio couldn't compete with BNP Paribas and Deutsche Bank. ...
Citi and JP Morgan top regulators' list of banks posing systemic risk image
Source : Guardian [Read Article] Monday 21st of November 2016 06:44:37 PM
. Two US banks – Citi and JP Morgan – have been designated as potentially posing the greatest risks to the global financial system in an annual ranking by regulators. ...
JP Morgan Chase to pay $264m over Chinese 'princelings' bribery scheme image
Source : Guardian [Read Article] Thursday 17th of November 2016 05:16:33 PM
. JP Morgan Chase agreed to pay $264m on Wednesday to settle charges that it employed well-connected Chinese “princelings” in order to win business in the Asia-Pacific region. ...
JP Morgan pays $264m to settle China 'bribery' probe image
Source : BBC [Read Article] Thursday 17th of November 2016 04:18:40 PM
. US bank JP Morgan Chase is to pay $264m (£212m) to settle claims it hired the children of highly placed Chinese officials to gain business in China. ...

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