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...In a global energy strategy report sent to clients this week, the US investment bank said efforts to reduce the use of coal, oil and gas had been set back by higher interest rates, inflation and wars in...
...JPMorgan Chase has recorded a gain of about $8bn after restructuring its stake in credit card network Visa in preparation for a potential sale of some of its shares....
...Remember, the Covid-19 pandemic caused a crisis of almost every other kind, but big US banks didn’t collapse....
...“Just as a very limited number of stocks were responsible for the majority of gains in the MSCI USA, drawdowns in the Top 10 could pull equity markets down with them.”...
...Listening to a recent FT Behind the Money podcast about JPMorgan Chase, however, made me wonder if banks might not be the most interesting and perhaps even the most extreme example of that dynamic....
...This is not just a matter of regulation, though....
...A new unit, Chase Media Solutions, will help brands target the bank’s customers based on their spending history....
...JPMorgan Chase, Bank of America, Wells Fargo and Citigroup collectively made $253bn in net interest income (NII) for the whole of 2023 — a 19 per cent jump from 2022’s total....
...JPMorgan Chase and Citi also paid out more to depositors than they took in additional interest last quarter — about $350mm each....
...JPMorgan Chase shares fell by the most in almost four years on Friday as an underwhelming outlook for its lending business overshadowed an increase in first-quarter profits at the US’s largest bank....
...A Russian court has ordered the seizure of JPMorgan Chase funds totalling $439.5mn a week after Kremlin-run lender VTB launched legal action against the largest US bank to recoup money stuck under Washington...
...This could force refiners to chase the lowest-cost raw materials, often produced in China....
...Despite being the number six US bank by size, it only has a sixth of JPMs assets. It is still basically a regional bank, albeit a big one....
...JPMorgan Chase chief executive Jamie Dimon said the US economy was “booming” but warned that he was “on the cautious side” of there being a soft landing....
...But banks led by JPMorgan Chase lobbied hard to underwrite a financing over the past four months....
...The challenge of turning this motley crew into a usable acronym meant that O’Neill simply called them the N-11....
...It’s definitely growing, as Bank of America points out in a recent note....
...A Russian court has ordered the seizure of JPMorgan Chase funds totalling $439.5mn after state-owned lender VTB filed a lawsuit to “recover losses” from the largest US bank....
...Over the past two years, big banks such as JPMorgan Chase, Bank of America, Citigroup and Wells Fargo charged more for loans in lockstep with the Fed lifting interest rates, without passing on the increase...
...The bank takes an optimistic view, and wrote that “2024 may finally be the year that proves that an exit path to prolonged sovereign defaults indeed exists,” thanks to Zambia’s deal, along with reports that...
...The bank said in a proxy filing also released on Monday that “an orderly CEO transition in the medium term” was a top priority for its board of directors....
...At JPMorgan Chase, investment banking head Vis Raghavan regularly told recruits, “You’re either reading the news or making the news.”...
...The bank’s burst of friendly fire comes just a few weeks after the Bank for International Settlements became the latest to flag that the explosion of option-based investment funds may be contributing to...
...That puts the net figure on course for a third consecutive year of decline — a phenomenon not seen since the bank’s data series began in 1999....
...Raghavan, 57, is a 23-year veteran of JPMorgan Chase, the largest investment bank globally, and had been promoted to sole head of investment banking last month....
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