Latest JPMorgan Chase & Co News

Turkish turmoil knocks US and European stocks lower

Aug. 10, 2018 4:53 PM EDT

NEW YORK (AP) — Stocks in the U.S. and Europe skidded Friday as investors worried about the financial stability of Turkey and how it might affect the global banking system. Turkish President Recep Tayyip Erdogan has accumulated more and more control over the country's central bank as well as its financial...

Wells Fargo to pay $2.1 billion for role in housing bubble

Aug. 1, 2018 3:34 PM EDT

NEW YORK (AP) — Wells Fargo agreed Wednesday to pay a $2.1 billion fine to settle allegations it misrepresented the types of mortgages it sold to investors during the housing bubble that ultimately led to the 2008 financial crisis. The amount is relatively smaller than the fines paid by Bank of America,...

Asia shares gain on reports China, US may resume trade talks

Aug. 1, 2018 12:48 AM EDT

SINGAPORE (AP) — Asian shares are mostly higher as traders watch to see what might come of reports the U.S. and China are looking to restart trade talks. KEEPING SCORE: Japan's Nikkei 225 index rose 0.7 percent to 22,713.08 and South Korea's Kospi added 0.4 percent to 2,304.03. The Shanghai Composite index...

Death of Fiat Chrysler chief focuses spotlight on CEO health

Jul. 29, 2018 5:04 AM EDT

MILAN (AP) — Fiat Chrysler's late founding CEO Sergio Marchionne was a notorious workaholic who regularly slept on a corporate jet while landing in the headlines for his shrewd deal-making. Despite his very public profile, he kept a secret even from his board: he'd been seriously ill for more than a year....

Troubled Deutsche Bank accelerates restructuring

Jul. 25, 2018 6:22 AM EDT

FRANKFURT, Germany (AP) — Germany's struggling Deutsche Bank said Wednesday that its net profit fell less than expected in the second quarter as it was making quicker progress in cutting costs and reshaping its business model after three straight years of losses. Net profit fell to 401 million euros ($467...

Stocks end slightly lower as traders shrug off trade talk

Jul. 20, 2018 4:47 PM EDT

NEW YORK (AP) — U.S. stocks inched lower Friday as bond yields jumped, a shift that helped banks but hurt companies that pay big dividends. The dollar fell after President Donald Trump said China is manipulating its currency. Companies including Microsoft and Honeywell rose as investors were pleased with...

Blankfein to step aside as Goldman CEO, Solomon to take over

Jul. 17, 2018 3:15 PM EDT

NEW YORK (AP) — Another Wall Street veteran of the financial crisis is stepping aside: Lloyd Blankfein is retiring as CEO of Goldman Sachs after 12 years at the helm of the storied investment bank. Blankfein will give way to David Solomon, a long-time Goldman executive who has been considered Blankfein's...

Despite some wobbles, stocks end the week with more gains

Jul. 13, 2018 4:49 PM EDT

NEW YORK (AP) — Stocks wrapped up another solid week Friday as industrial and energy companies ticked higher, but corporate earnings got off to a sluggish start as reports from several major U.S. banks failed to excite investors. Indexes wobbled in morning trading, but rising oil prices helped energy...

Markets Right Now: US stocks notch another weekly gain

Jul. 13, 2018 4:14 PM EDT

NEW YORK (AP) — The latest on developments in financial markets (all times local): 4 p.m. Stocks are closing out their second straight week of gains, despite some wobbly trading during the day, as industrial and energy companies climbed. The gains weren't all that broad on Friday, however, and slightly...

JPMorgan's profits rise 18 percent, helped by lower taxes

Jul. 13, 2018 1:15 PM EDT

NEW YORK (AP) — JPMorgan Chase's second-quarter profits rose by 18 percent from a year ago, as the nation's largest bank by assets and revenue continues to benefit from higher interest rates and a lower tax bill following last year's passage of President Donald Trump's tax law. JPMorgan said Friday that it...