JPMorgan to hire 4,000 new workers in US after tax gains

JPMorgan is boosting wages, opening new branches and hiring thousands of new workers citing improved economic performance and sweeping changes to the US tax code. The US recently slashed the corporate rate to 21 percent from, 35 percent. Hourly wages will rise to between $15 and $18 from a range

Consumer businesses help Citigroup top Wall Street estimates

Citigroup on Tuesday reported quarterly profit that topped Wall Street expectations as consumer businesses made up for lower revenue from bond and currency trading. The lender said it booked a one-time charge of $22 billion stemming from changes in the new tax law, which resulted in a loss of

Tax code gains gloss up big banks’ muted earnings results

Wall Street’s in for a messy month. President Trump’s giant tax overhaul is scrambling the end-of-year earnings at the biggest US banks, causing huge swings in profit for what would have otherwise been a muted quarter. JPMorgan Chase, the largest bank in the US, reported a big drop in profit

Dropbox confidentially files for IPO

Data-sharing business Dropbox has filed confidentially for a initial public offering led by Goldman Sachs and JPMorgan Chase, Bloomberg reported, citing people familiar with the matter. Dropbox is in talks with other banks to fill additional roles on the IPO and is aiming to be listed in the first

Dropbox confidentially files for IPO

Data-sharing business Dropbox has filed confidentially for a initial public offering led by Goldman Sachs and JPMorgan Chase, Bloomberg reported, citing people familiar with the matter. Dropbox is in talks with other banks to fill additional roles on the IPO and is aiming to be listed in the first

GoPro hires JPMorgan to explore a possible sale

GoPro is considering selling itself and has hired JPMorgan to help it with the process, a source familiar with the matter told Reuters on Monday. Earlier in the day, the company lowered its fourth-quarter revenue forecast on weak demand for cameras in the holiday season and announced its plan

GoPro hires JPMorgan to explore a possible sale

GoPro is considering selling itself and has hired JPMorgan to help it with the process, a source familiar with the matter told Reuters on Monday. Earlier in the day, the company lowered its fourth-quarter revenue forecast on weak demand for cameras in the holiday season and announced its plan

Jamie Dimon says JPMorgan will offer Amazon-style discounts

JPMorgan Chase expects to offer more price discounts to its banking customers who buy multiple products, similar to the way Amazon.com gives extras to its Prime subscribers, chief executive Jamie Dimon said on Thursday. “You are going to see more relationship pricing,” Dimon said on a Wells Fargo webcast

Will the bank stop stiffing me on my savings account rate?

Dear John: I have a substantial savings/checking account at JPMorgan Chase. I am confused by the rule that more than six transactions can be charged a fee, including savings moved into my checking account. If you have $15,000 in the bank the fees would be waived. However, if you do

Wells Fargo profits tank as it sets aside $1B for legal costs

Wells Fargo reported a 19 percent profit decline on Friday and weaker revenue than Wall Street had expected for the fourth consecutive quarter due to mortgage issues, sending its shares down 3.5 percent. The third-largest US lender, which has been embroiled in a prolonged scandal over its sales practices, said the

JPMorgan’s trading slump is even worse than Dimon warned

Wall Street slumped on Thursday after two of the largest banks, JPMorgan Chase and Citigroup, reported that trading had fallen during the third quarter. JPMorgan, the largest US bank, saw a huge 27-percent drop in bond trading revenue, to $3.1 billion, compared to the same period last year. Overall, JPMorgan said

JPMorgan trading bitcoin for clients despite Dimon’s “fraud’ rant

JPMorgan Chase has been routing customer orders for bitcoin-related instruments, a spokesman said on Monday, despite the bank’s chief executive calling the crypto currency “a fraud.” Like other Wall Street banks, JPMorgan acts as an agent for buyers and sellers of Bitcoin XBT, an exchange-traded note designed to track the value

JPMorgan CEO doubles down on trashing bitcoin

Jamie Dimon landed a second hit in his fight against bitcoin. One day after the JP Morgan Chase chief called the digital currency a “fraud,” the bank released a scathing report on the red-hot investment, calling its legitimacy into question and comparing it to “pyramid schemes.” The price of bitcoin, the largest

It’s about time someone called out bitcoin for what it is

It’s good to see that the grown-ups are finally speaking out on some of the nonsense going on in the financial world. Jamie Dimon, head of JPMorgan Chase, this week called bitcoin “a fraud.” And he was quoted as saying that “any trader trading bitcoin [will be] fired for being stupid.” Dimon’s

Goldman Sachs unveils plan to reverse trading slump

Goldman Sachs, scrambling to reassure Wall Street about its tanking trading business, unveiled a plan to boost its revenue by as much as $5 billion over the next three years. The banking goliath — which has seen two straight quarters of weak trading in bonds, currencies and commodities, or FICC —

Wall Street rings up record profits in second quarter

Wall Street just had its most profitable quarter ever — fueled in part by the skimpy returns paid out on savings accounts. US banks rang up record profits of $48.3 billion in the second quarter as the Federal Reserve’s interest rate hikes weren’t passed along to consumers, the FDIC said Tuesday. The

SEC drops “London Whale’ case against two traders

Wall Street’s top regulator on Friday dropped its civil case against two JPMorgan Chase traders who attempted to hide the infamous $6.2 billion “London Whale” trading loss. The Securities and Exchange Commission decided to stop pursuing charges against Javier Martin-Artajo and Julien Grout after a third trader, a witness in the

JPMorgan Chase CEO slams Trump over Charlottesville

JPMorgan Chase Chief Executive Jamie Dimon slammed President Trump on Wednesday for his “equivocation” on the bloody protests in Virginia over the weekend. “I strongly disagree with President Trump’s reaction to the events that took place in Charlottesville over the past several days,” Dimon wrote in a memo to the bank’s

Jamie Dimon says he’s a “patriot’ first, CEO second

Jamie Dimon is stepping up his “I’m not running for office” tour of the US. The JPMorgan Chase boss made a broad call for tax reform and investment in public works — without mentioning that these are also priorities for President Trump — during a TV interview on Tuesday. “I am a

US Tennis Association throwing 2-day festival ahead of US Open

The United States Tennis Association is throwing a two-day event at the South Street Seaport to whet appetites for what could be Roger Federer’s 20th Grand Slam when the US Open kicks off later this month. The festival — featuring the tournament’s defending champions, Swiss-born Stan Wawrinka, who is sitting out

JPMorgan reports spike in quarterly profit

JPMorgan Chase & Co, the biggest U.S. bank by assets, reported a 13.4 percent increase in quarterly profit on Friday as gains from higher interest rates more than offset a drop in bond trading. The bank’s net income rose to $7.03 billion in the second quarter ended June 30 from $6.20

Jamie Dimon is bored with banking

“[Dimon’s] not bored with banking,” Joe Evangelisti, spokesman for the bank, told The Post. “He just thinks there are bigger issues in the world that affect everybody.” Source: http://nypost.com/2017/07/14/jamie-dimon-is-bored-with-banking/

Jamie Dimon is talking like a politician again

Is Jamie Dimon running for office or what? Speculation that the Wall Street boss has political ambitions got reignited after Dimon unleashed a rant against the US government’s handling of everything from onerous tax laws to out-of-control litigation. “It’s almost an embarrassment being an American citizen traveling around the world and listening

Goldman Sachs relaxes dress code for its tech workers

Traditionally buttoned-up Wall Street bank Goldman Sachs has relaxed the dress code for its computer engineers in a bid to attract tech talent with a more casual environment. The fifth-largest U.S. bank by assets told employees in its technology division to “exercise judgment in determining when to adapt to business attire,”

Goldman Sachs relaxes dress code for its tech workers

Traditionally buttoned-up Wall Street bank Goldman Sachs has relaxed the dress code for its computer engineers in a bid to attract tech talent with a more casual environment. The fifth-largest U.S. bank by assets told employees in its technology division to “exercise judgment in determining when to adapt to business attire,”

Fed’s bond unwinding could be “disruptive’: JPMorgan CEO

This time, quantitative easing may not be so easy. Jamie Dimon, CEO of JPMorgan Chase, warned Tuesday that the Federal Reserve’s plan to unwind its bond-buying programs could be “more disruptive than people think.” The Fed, which has been slowly raising interest rates for about a year and a half, announced last

Bond trading in the latest quarter was even worse than feared

A bellwether for bond trading just delivered some downbeat news. Jefferies, a boutique Wall Street bank, said Tuesday that its second-quarter bond trading business slid by a third from a year ago, plagued by an uneventful spring season as the stock market continued to hit fresh highs. The trading tumble was more

Bond trading in the latest quarter was even worse than feared

A bellwether for bond trading just delivered some downbeat news. Jefferies, a boutique Wall Street bank, said Tuesday that its second-quarter bond trading business slid by a third from a year ago, plagued by an uneventful spring season as the stock market continued to hit fresh highs. The trading tumble was more