Hints and tips:
...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...
...That’s what we missed: how the policy response to the regional banking crisis stabilised the banking system, which allowed a pretty sharp V-shaped recovery....
...If you’ve got thoughts for a topic that would suit the Future of Money, you can email me at sid.v@ft.com. Please let us know how you’re finding the newsletter in our survey below. Happy reading!...
...What JPMorgan learns there can be used to modernise its core Chase US retail bank and be the foundation of a string of digital-only offerings elsewhere....
...UBS and JPMorgan Chase have downgraded their forecasts for China’s economic growth for this year after Covid-19 lockdowns hammered April activity in the country....
...JPMorgan Chase, UBS, Julius Baer, Jefferies, Cantor Fitzgerald and (most recently) Deutsche Bank have turned to Movius to keep track of calls, text messages and WhatsApp conversations....
...Sanjiv Somani, UK chief executive of Chase, JPMorgan’s digital bank, told the FT earlier this month that he wanted to integrate the retail bank with digital wealth management arm Nutmeg, which it bought...
...JPMorgan chases growth While fintechs like Klarna are tightening their belts, JPMorgan told investors last week that it expects to lose up to $1bn over the next few years on its new digital consumer bank...
...Cloud banking fintech Thought Machine doubles valuation London-based Thought Machine, whose clients include Morgan Stanley, JPMorgan Chase and Lloyds Banking Group reached a valuation of $2.7bn in a $160mn...
...Underpinned by cloud native technology, Vault is a highly configurable platform that is trusted by the world’s most competitive banks, including JPMorgan Chase, Lloyds Bank, Standard Chartered and SEB....
...Business A huge rise in US government spending will boost the world’s largest economy over at least the next two years, the chief executive of JPMorgan Chase forecast....
...(FT) Coronavirus digest A huge rise in US government spending will boost the world’s largest economy over at least the next two years, said Jamie Dimon, chief executive of JPMorgan Chase, in his annual...
...Jamie Dimon, JPMorgan Chase chief executive, thinks we’re heading for another Goldilocks period, referring to that “not too hot, not too cold” economic moment we enjoyed in the run-up to the great financial...
...A study last week by JPMorgan Chase Institute of 1.3m SMEs shows that their cash balances plummeted by almost 13 per cent before the Cares Act stimulus kicked in....
...One scoop to start: JPMorgan Chase lost out to Morgan Stanley in the $7bn bidding war to buy US investment manager Eaton Vance, a revelation that highlights the fierce competition among Wall Street powerhouses...
...This week JPMorgan Chase, Wells Fargo and Citi set aside a record $28bn for bad loans, more than expected. This shows they fear a wave of corporate and consumer bankruptcies....
...However, Jamie Dimon, JPMorgan Chase’s chief executive, warned: “We don’t know what the future is going to hold. This is not a normal recession.”...
...The headline, unavoidably, was the immense sum put aside for loans that might go bad because of the Covid-19 shutdown: a thumping $25.4bn in total at Bank of America, Citigroup, JPMorgan Chase, Wells Fargo...
...This was especially true at JPMorgan Chase, where investment bank boss Daniel Pinto said trading revenues in the second quarter could be up as much as 50 per cent compared with a year earlier....
...Tony Scherrer, an investor at Smead Capital who holds shares in Bank of America, JPMorgan Chase and Wells Fargo, said he would be watching for “indications on whether authorities want to get more involved...
...In its quarterly results last month, JPMorgan Chase took a whopping $8bn provision for future losses on bad loans, six times higher than in the same period last year and higher than any other quarter in...
...Within the financial sector, the universal banking models of lenders such as JPMorgan Chase have fared better....
...Since then, UBS and JPMorgan Chase have increased existing stakes to 51 per cent....
...Banks such as Citigroup and JPMorgan Chase are expected to do well thanks to record fees driven by debt sales from crisis-hit companies....
...Chase....
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