The Dow Jones Industrial Average, for the first time, closed above the psychological threshold of 16,000, extending a stock rally that had already experienced a 22% spike so far this year.
Tags: Jpmorgan chase
Major US banks account for 20% of debts in Glencore
The major banks from the US have exposure to the debt of ailing commodity giant Glencore Plc. Bank of America, Citigroup, JPMorgan Chase and Morgan Stanley have reportedly lent $350million apiece to Glencore. North American banks contributed 20percent of the total loan exposure of Glencore. The ongoing slump in commodities market adversely impacted the Swiss-based Glencore's performance. This indicates potential alarming situation for the American banks if embattled Glencore slips into a liquidity crisis. Glencore is engaged in commodity trading and mining activities.
US banks lead the equity trading revenues in Q2
Morgan Stanley, JPMorgan Chase and Goldman Sachs were the top-three beneficiaries in equity trading revenues during the second quarter of 2015.
JPMorgan fund in talks on taking $200 million stake in India's SpiceJet
A fund managed by JPMorgan Chase (JPM.N) is in advanced talks to partner with Indian carrier SpiceJet Ltd's (SPJT.BO) co-founder for a planned $200 million investment into the cash-strapped airline, the Economic Times reported on Thursday, citing unnamed sources with knowledge of the discussions.
Wall Street scores a win in Washington, eyes more victories
Five years after President Barack Obama slammed Wall Street "fat cat" bankers, some of the nation's biggest banks this week successfully lobbied Congress to roll back a hotly debated provision in the 2010 Dodd-Frank financial reform law.
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US-based global private equity firm Advent International signed an agreement to purchase a USD1.1 billion minority stake in Ocensa, Colombia's biggest oil pipeline in terms of capacity.
With Switzerland requiring higher capital ratios, banks may be hard pressed to continue with their normal operations according to JPMorgan Chase analysts.
Major banking institutions including JPMorgan Chase might have predicted the direction of the probe conducted by the Financial Conduct Authority in Britain.
Academic textbook rental company Chegg recently priced its shares for its upcoming IPO. On Thursday, textbook rental and academic services startup Chegg said intended to raise up to USD172.
Like Facebook and Zynga before it, Twitter was able to secure a USD1 billion credit facility from its IPO bank managers.
Aside from the monetary penalties, the Attorney General required some form of admission of criminal liability on the part of JPMorgan.
JPMorgan is nearing settlement of a suit filed by FHFA for mortgage related securities fraud. JPMorgan Chase & Co had reached a tentative agreement for the settlement of USD4 billion with the Federal Housing Finance Agency.
Hannam & Partners hires Tim Hoare to provide expertise in the natural resources market. Hannam and Partners is an advisory firm established by former JPMorgan Chase & Co banker Ian Hannam.
Compared to JPMorgan Chase, Citigroup's legal costs would easily reach USD5 billion. The next US bank primed for legal and regulatory scrutiny would be Citigroup Inc.
