LONDON—JPMorgan Chase has once again been named the world’s most important bank to the health of the wider financial system, according to the latest annual ranking of top lenders by global regulators. The Financial Stability Board (FSB), made up of regulators from G20 countries, published its latest table of the world’s 30 most systemic banks…
JPMorgan Named Most Important Bank to Health of Financial System
November 23, 2021
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JPMorgan to Pay $60 Million to Settle Precious Metals Spoofing Lawsuit
November 20, 2021
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NEW YORK—JPMorgan Chase & Co. agreed to pay $60 million to settle class-action litigation by investors who accused the largest U.S. bank of intentionally manipulating prices of precious metals futures and options. The settlement disclosed on Friday stemmed from sprawling U.S. government investigations into a form of illegal trading in precious metals and U.S. Treasury…
US to Start Raising Interest Rates From September 2022: JP Morgan
LONDON—The U.S. Federal Reserve will start raising interest rates from September 2022, economists at the country’s biggest bank said in a 2022 outlook note. JPMorgan expects the central bank to raise rates by 0.25 percent from the third quarter of next year and keep raising them by 25 basis points every quarter “at least until…
JPMorgan Sues Tesla for $162 Million in Dispute Over 2014 Stock Warrant Agreement and Elon Musk Tweets
JPMorgan Chase & Co. is suing electric vehicle maker Tesla and seeking $162 million in payment in a dispute over a 2014 stock warrant agreement, according to a complaint filed in Manhattan federal court on Monday. In a court filing obtained by CNBC, the multinational investment bank alleges that Telsa breached the terms of a contract it entered into regarding…
Why Is New Relic Stock Jumping on Tuesday Premarket?
JPMorgan analyst Sterling Auty upgraded New Relic Inc to Overweight from Underweight with a $150 price target, implying a 64.9 percent upside. The software analytics solution provider reported second-quarter FY22 revenue growth of 18 percent year-on-year to $196 million, beating the consensus of $182.2 million. Non-GAAP EPS loss of $(0.10) beat the consensus loss of…
BTRS Shares Pop as JPMorgan Sees Huge Upside
JPMorgan analyst Tien-tsin Huang upgraded BTRS Holdings Inc. to Overweight from Neutral with a $15 price target, implying a 60.3 percent upside. As shares are down 48 percent since late April, while revenue and gross profit estimates are relatively unchanged, Huang thinks valuation is more reasonable relative to the firm’s expectations of Billtrust being a…
JPMorgan Cuts China Growth Forecast for Fifth Time Since August
November 5, 2021
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LONDON—JPMorgan cuts its fourth quarter growth forecast for China to 4.0 percent quarter-on-quarter from 5.0 percent on Friday, citing the impact of power shortages and the recurrence of COVID-19 clusters hitting consumer spending and services. “Looking back, we have downgraded China’s growth forecasts five times since August,” JPMorgan’s Haibin Zhu said in a note, adding…
As Yields Rise, Some US Banks Shift Cash to Treasuries
Some big U.S. banks are buying more U.S. government securities as yields start to rise and the Federal Reserve appears ready to taper its bond-buying program—a balance sheet shift that analysts say could boost bank earnings by several percentage points depending on how they play their hands. Bank of America Corp. and Citigroup Inc. on…
S&P 500, Nasdaq Rise With Growth Stocks; JPMorgan a Drag
October 14, 2021
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NEW YORK—The S&P 500 and Nasdaq ended higher on Wednesday, led by gains in shares of big growth names like Amazon.com and Microsoft, but JPMorgan shares fell along with other bank shares and weighed on the market. The S&P 500 briefly added to gains following the release of minutes from the September Federal Reserve policy…
JPMorgan Smashes Profit Estimates on M&A Boom, Wealth Management Strength
JPMorgan Chase & Co. reported a bigger-than-expected 24 percent jump in third-quarter profit on Wednesday, boosted by a global dealmaking boom and strength in its wealth management arm. The bank, whose fortunes reflect the health of the U.S. economy, said robust M&A activity offset a slowdown in trading. Its consumer bank also reported a strong…
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