Latest JPMorgan Chase & Co News

Takeaways: Labor abuses in the palm oil industry

Sep. 25, 2020 2:04 PM EDT

PENINSULAR MALAYSIA (AP) — Palm oil is almost impossible to avoid. It can be found in roughly half the products on supermarket shelves, from Dove soap and Oreo cookies to instant noodles and hand sanitizer. While most shoppers know little about the commodity or the human toll, the $65 billion industry has...

A little girl holds palm oil fruit collected from a plantation in Sumatra, Indonesia, Nov. 13, 2017. An Associated Press investigation has found many palm oil workers in Indonesia and neighboring Malaysia endure exploitation, including child labor. (AP Photo/Binsar Bakkara)

Palm oil labor abuses linked to world’s top brands, banks

Sep. 24, 2020 10:32 PM EDT

PENINSULAR MALAYSIA (AP) — Jum’s words tumble out over the phone, his voice growing ever more frantic. Between sobs, he says he’s trapped on a Malaysian plantation run by government-owned Felda, one of the world’s largest palm oil companies. His boss confiscated and then lost his...

Currency traders work at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Wednesday, Sept. 23, 2020. Asian markets were mostly lower on Wednesday as investors kept a wary eye on how the coronavirus pandemic will affect the economic outlook.
(AP Photo/Ahn Young-joon)

Asian shares take breather after Wall Street gains

Sep. 23, 2020 12:04 AM EDT

Asian markets were mostly lower on Wednesday as investors kept a wary eye on how the coronavirus pandemic will affect the economic outlook. Stocks slipped Wednesday in Japan, Hong Kong and Seoul but rose in Sydney after the government reported retail sales fared better than expected. Overnight, the S&P 500...

A man wearing a face mask walks past a bank's electronic board showing the Hong Kong share index at Hong Kong Stock Exchange Tuesday, Sept. 22, 2020. Shares slipped Tuesday in Asia after markets tumbled worldwide on worries about the pandemic’s economic pain. (AP Photo/Vincent Yu)

Asian shares track Wall Street retreat on pandemic pains

Sep. 22, 2020 12:41 AM EDT

Shares slipped Tuesday in Asia after markets tumbled worldwide on worries about the pandemic’s economic pain. Hong Kong's Hang Seng lost 0.3% to 23,894.72 and the Kospi in South Korea sank 1.7% to 2,348.24. The S&P/ASX 200 in Australia lost 0.6% to 5,787.00 and the Shanghai Composite index edged 0.1%...

FILE - In this Aug. 16, 2019, file photo, the logo for JPMorgan Chase & Co. appears above a trading post on the floor of the New York Stock Exchange in New York.  Shares of some major banks are tumbling before the market open Monday, Sept . 21, 2020, following a report alleging those including JPMorgan, HSBC, Standard Chartered Bank, Deutsche Bank and Bank of New York Mellon continued to profit from illicit dealings with disreputable people and criminal networks despite being previously fined for similar actions.   (AP Photo/Richard Drew, File)

Bank shares slide on report of rampant money laundering

Sep. 21, 2020 5:29 PM EDT

The financial sector was hit hard Monday following a report alleging that a number of banks — JPMorgan, HSBC, Standard Chartered Bank, Deutsche Bank and Bank of New York Mellon among them — have continued to profit from illicit dealings with disreputable people and criminal networks despite previous...

Nikola, Illumina fall; Cubic, Rent-A-Center rise

Sep. 21, 2020 4:29 PM EDT

NEW YORK (AP) — JPMorgan Chase & Co., down $3.04 to $95.31. The bank allegedly continued profiting from illicit dealings with criminal networks despite previous fines, according to a report. Allstate Corp., up 75 cents to $92.03. The insurance company announced an accelerated $750 million stock...

FILE - In this Aug. 16, 2019, file photo, the logo for JPMorgan Chase & Co. appears above a trading post on the floor of the New York Stock Exchange in New York. A number of JPMorgan Chase traders have been sent home after employees tested positive for COVID-19, less than a week into the bank’s push to start bringing its workers back into the office. A bank spokesman said Tuesday, Sept. 25, 2020, that JPMorgan Chase has been managing individual positive cases over the last few months. (AP Photo/Richard Drew, File)

Some JPMorgan traders catch COVID as bank reopens offices

Sep. 15, 2020 4:07 PM EDT

NEW YORK (AP) — A number of JPMorgan Chase traders have been sent home after employees tested positive for COVID-19, less than a week into the bank's push to start bringing its workers physically back into the office. JP Morgan has been “managing individual cases (of employees testing positive)...

In this undated photo provided by Citigroup, head of Citi’s global consumer banking division Jane Fraser poses for a portrait. Citigroup announced Thursday, Sept. 10, 2020, that Fraser would succeed Michael Corbat as the bank’s next chief executive, making Fraser the first woman to ever lead a Wall Street bank. (Julian Restrepo/Citigroup via AP)

Jane Fraser to become Citi CEO; 1st woman to lead major bank

Sep. 10, 2020 2:23 PM EDT

NEW YORK (AP) — Citigroup's Jane Fraser will become the first woman to ever lead a Wall Street bank when she succeeds CEO Michael Corbat in February. The New York bank announced the succession Thursday. Fraser is currently head of Citi's global consumer banking division, a major part of the bank that...

JPMorgan: some customers, employees misused COVID programs

Sep. 8, 2020 5:17 PM EDT

NEW YORK (AP) — JPMorgan Chase said Tuesday that a number of its employees and customers may have abused the Paycheck Protection Program and other coronavirus stimulus programs. The New York-based bank said it is working with law enforcement in some cases, although in a memo sent to employees it did not...

A currency trader watches monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Friday, Aug. 28, 2020. Asian markets were mostly higher Friday after the Federal Reserve said it might keep interest rates low even if inflation rises, in a major overhaul to its strategy. (AP Photo/Ahn Young-joon)

Markets higher as Fed chair says interest rates to stay low

Aug. 27, 2020 11:49 PM EDT

Asian markets were mostly higher Friday after the Federal Reserve said it might keep interest rates low even if inflation rises, in a major overhaul to its strategy. Shares rose in Japan, South Korea, Shanghai and Hong Kong but fell in Sydney. Overnight, the S&P 500 ticked 0.2% higher, further into record...