Latest Investment banking and brokerage News

JPMorgan Chase 3Q profits up 8% but loan growth slows

Oct. 15, 2019 2:29 PM EDT

NEW YORK (AP) — JPMorgan's third-quarter profit grew 8% thanks to higher interest rates and strong performance at its investment banking business. Recent upticks in yields in the U.S. bond market have allowed banks to charge higher interest rates on their loans, particularly at JPMorgan with its large...

Markets Right Now: Solid earnings send stocks higher

Oct. 15, 2019 12:07 PM EDT

NEW YORK (AP) — The latest on developments in financial markets (all times local): 11:45 a.m. Stocks are broadly higher on Wall Street as investors applauded some good results in the first batch of earnings reports from major U.S. companies. UnitedHealth Group, the nation's largest insurer, jumped 7.4%...

Goldman Sachs 3Q profit falls 26%, short of expectations

Oct. 15, 2019 8:17 AM EDT

NEW YORK (AP) — Goldman Sachs had a 26% decline in third quarter profits, the bank said Tuesday, as Goldman took losses on some of its public investments and struggled to drum up enough advisory business. The New York-based bank on Tuesday reported a profit of $1.88 billion, or $4.79 a share, down from...

Asia shares mixed as optimism over China-US trade deal fades

Oct. 15, 2019 1:06 AM EDT

BANGKOK (AP) — Shares were mixed in Asia on Tuesday after a wobbly day of trading on Wall Street. Japan's Nikkei 225 index jumped 1.8% to 22,194.94 as Tokyo reopened from a public holiday and investors caught up on the news of a preliminary trade deal between China and the U.S. struck Friday in Washington....

Charles Schwab escalates brokerage-fee war

Oct. 10, 2019 10:30 AM EDT

NEW YORK (AP) — Investors hammered shares of online brokers this month after Charles Schwab escalated the industry's ongoing price war by scrapping more of its trading fees, all to the benefit of regular investors. Charles Schwab is betting the decision to lower or eliminate trading fees will help it...

Investors slam the brakes as trade war fogs forecasts

Sep. 26, 2019 12:33 PM EDT

NEW YORK (AP) — The Trump administration's trade war with China is largely to blame for stocks' screeching halt on Wall Street since April, analysts and economists say. The benchmark S&P 500 index, a closely watched gauge of the stock market's performance, has risen just 1% this quarter, coming to a...

Banker who tipped off dad convicted anew of insider trading

Sep. 23, 2019 4:24 PM EDT

NEW YORK (AP) — An investment banker whose insider trading conviction was overturned by an appeals court was convicted again at a second trial Monday by a jury that reached a speedy verdict. The Yale-educated Sean Stewart, 38, of North Merrick, was convicted of charges including securities fraud and...

Honest Co.'s CFO shares lessons learned and his vision ahead

Sep. 23, 2019 10:37 AM EDT

NEW YORK (AP) — The Honest Company, known for its eco-friendly diapers, wipes and cleaning products, is back on the upswing after a series of stumbling blocks. The digital native company was founded by actress Jessica Alba in 2012. It attained unicorn status — when a privately held startup attains...

White House insists fundamentals of US economy 'very strong'

Aug. 20, 2019 11:56 AM EDT

WASHINGTON (AP) — The "fundamentals" of the U.S. economy are solid, the White House asserted, invoking an ill-fated political declaration of a decade ago amid mounting concern that a recession could imperil President Donald Trump's reelection. Exhibiting no such concern, senior adviser Kellyanne Conway...