JPMorgan Chase & Co

JPMorgan alerts Japan Inc to brace up for ¥100/USD

JPMorgan Chase & Co has alerted Japan Inc to gear up for the surge in Yen against the US dollar. JPMorgan Chase forecast Yen will reach 100 yen against a US dollar. However, it says the rally in currency may not sabotage the Japan industry.

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JPMorgan teams up with On Deck Capital to roll out new lending product

JPMorgan Chase has teamed up with On Deck Capital to accelerate the loan processing for the small business segment. On Deck Capital is an online provider of high-cost lending and will offer its technology platform for JPMorgan to speed up loan processing for its four million customers. JPMorgan will launch new Chase product in 2016 taking care of small-dollar loans.

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Morgan Stanley's Trading Revenue Dropped in the Third Quarter

Morgan Stanley reported a big miss in the third quarter profit as a result of a decline in their trading and private equity business. Although they have shifted their focus on business segment with less risk, global economic slowdown has hit Morgan Stanley and other US banks this quarter.

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Online lender Avant Inc raises $659mn from JPMorgan, PE firms

Chicago-based start-up lender Avant Inc has mobilized $325millions in its latest round of funding from a private equity (PE) firm General Atlantic and JPMorgan Chase & Co. Balyasny Asset Management and Tiger Global Management LLC are also investing in the round taking total fund-raising for Avant to $659mn till date. General Atlantic-led round is expected to close in October. With this fund-raising, the valuation of Avant is pegged at $1billion. The start-up firm is planning to use the mobilized funds to offer various financial products and fund its global expansion plan.

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CFPB fines Citibank for illegal credit card practices

Citigroup's consumer bank has been fined to pay $700milion for its illegal credit card practices. The US Consumer Financial Protection Bureau (CFPB) has observed that Citibank's seven million customer accounts have been charged with misrepresenting costs fees. The consumer finance watchdog has also said that customers were charged for services not rendered to them. CFPB further notes that customers were affected by Citibank's deceptive marketing practices.

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GE in talks to sell lending, leasing portfolio to Wells Fargo: source

General Electric Co is in early-stage talks with Wells Fargo & Co about selling its entire $74 billion U.S. commercial lending and leasing (CLL) portfolio to the bank, according to a source familiar with the situation.

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Authorities closing in on hackers who stole JPMorgan data

Federal authorities investigating the data breach at JPMorgan Chase & Co (JPM.N) are increasingly confident that a criminal case will be filed against the hackers in the coming months, the New York Times reported, citing people briefed on the investigation.

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U.S. banks' buybacks, dividends may be no reason for shareholder celebrations

Big U.S. banks, including JPMorgan Chase & Co (JPM.N) and Citigroup Inc (C.N), are expected to win Federal Reserve backing on Wednesday to buy back more shares and increase their dividends in the coming year, but the approvals may be as much about the institutions’ financial engineering as any improvement in their health.

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JPMorgan tops list of risky banks: government study

JPMorgan Chase & Co bears the highest potential hazard to the financial system if it were to fail, a staff study released by a U.S. government research agency showed, providing a first-of-its-kind numerical risk ranking of U.S. banks.

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U.S. retailers gaining upper hand in partnerships with banks

U.S. banks are finding that "co-branded" credit cards they offer with retailers, airlines, hotels and other consumer companies are increasingly a lousy business, one not likely to get better soon, industry executives said.

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Morgan Stanley awards CEO $4.4 million in restricted stock

Morgan Stanley's (MS.N) board of directors awarded Chairman and Chief Executive James Gorman $4.4 million in restricted stock as part of his 2014 bonus, the Wall Street bank said in a regulatory filing on Friday.

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Citi profit plunges on legal settlements and fall in bond revenue

Citigroup Inc said its quarterly profit dropped 86 percent, hurt by legal settlements and falling bond trading revenue, sending the bank's shares down more than 4 percent.

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Goldman Sachs profit hit by weak fixed-income trading

Goldman Sachs Group Inc (GS.N) reported a 7 percent drop in fourth-quarter profit as sharp market moves in December hit its bond-trading business.

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JPMorgan presses managers to cut costs as profits fall

Senior executives at JPMorgan Chase & Co (JPM.N) are pressuring managers across the bank to cut costs, after disappointing revenue growth has hurt profits, a person familiar with the matter told Reuters on Wednesday.

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Wall St. drops on global economic worries

U.S. stocks slumped shortly after the opening bell on Wednesday to extend recent declines, as worries over weak economies globally continued to pressure commodities and as U.S. retail sales for December fell short of expectations.

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