JPMorgan Chase

JPMorgan Chase profits up on loan growth

Beverly Hills - AFP

(Jamie Dimon, the chairman and CEO of JPMorgan Chase JPMorgan Chase just reported second-quarter earnings, posting a big beat. "Loans and deposits continue to grow strongly, and card sales and merchant processing volumes were up double digits, reflecting our consistent investment in the business," CEO Jamie Dimon said Friday. "In the Corporate & Investment Bank, we maintained our leadership in Banking,Read more

US banks report solid earnings, still hopeful on Trump agenda

New York - AFP

Strong trading results, rather than lending, was the driving force behind solid earnings reported by large US banks Thursday, as executives expressed measured optimism about the prospects for President Donald Trump's pro-growth agenda. JPMorgan Chase and Citigroup reported big jumps in first-quarter net income compared with the same period of last year, while Wells Fargo continued to feel the effectsRead more

Fed rate hike likely after robust February jobs report

Washington - Arab Today

A second straight month of robust hiring pointed on Friday to a US economy healthy enough for the Federal Reserve to raise interest rates next week and to signal the likelihood of additional rate hikes ahead. US employers added 235,000 jobs in February, average paychecks rose and the unemployment rate dipped to a low 4.7 percent from 4.8 percent, theRead more

JPMorgan said to scout Dublin, Frankfurt for post-Brexit EU hub

London - Arab Today

JPMorgan Chase & Co. is scouting for office space in Dublin and Frankfurt that may be used as an enlarged European Union hub following the U.K.’s vote to leave the bloc, according to people with knowledge of the matter. The lender may lease 50,000 square feet (4,645 square meters) to 150,000 square feet of space and wants flexibility from landlordsRead more

JPMorgan scouting Dublin, Frankfurt for post-Brexit EU hub

London - Arab Today

JPMorgan Chase is scouting for office space in Dublin and Frankfurt that may be used as an enlarged European Union hub following the UK’s vote to leave the bloc, according to people with knowledge of the matter. The lender may lease 50,000 square feet (4,645 square metres) to 150,000 square feet of space and wants flexibility from landlords to shrinkRead more

Saudi Aramco mulls $5b of investments in renewable energy

Dubai - Arab Today

Saudi Aramco, the world’s largest oil company, is considering as much as $5 billion of investments in renewable energy firms as part of plans to diversify from crude production, according to people with knowledge of the matter. Banks including HSBC Holdings, JPMorgan Chase. and Credit Suisse Group have been invited to pitch for a role helping Aramco identify potential acquisitionRead more

US Stocks clos slightly higher

New York - QNA

US stocks closed slightly higher on Wednesday, amid a sharp rebound in oil prices, while the Dow snapped a seven-day slide. The Dow Jones industrial average closed 41.23 point higher, or 0.23%, at 18,355, with JPMorgan Chase leading advancers and Pfizer the greatest laggard. The S&P 500 rose 6.76 point, or 0.31%, to close at 2,163.79, with energy leading sixRead more

JPMorgan buoys itself with loan growth in swamp of low rates

New York - Arab Today

JPMorgan Chase & Co. is lending more and keeping a lid on expenses to combat the scourge of low interest rates, allowing management to stick to financial goals for the year. JPMorgan, the largest US bank by assets, beat subdued expectations in reporting a 1 percent slide in second-quarter earnings, in the face of historically low rates, volatile markets andRead more

Bank earnings loom large as US stocks near record

New York - Arab Today

The focus on Wall Street will shift to corporate earnings next week after a strong June jobs report on Friday gave investors confidence that the US economy was on stable footing and left the S&P 500 within a whisper of a new closing record high. Earnings next week are expected from big banks JPMorgan Chase, Citigroup and Wells Fargo asRead more

Strong demand expected for Saudi global bond sale

Riyadh - Arab Today

Saudi Arabia appointed JPMorgan Chase & Co., HSBC Holdings Plc and Citigroup Inc. to arrange its first international bond sale, people with knowledge of the matter said. The banks are acting as global coordinators on the issue, according to the people, who asked not to be identified as the decision isn’t public. More banks could be added later as jointRead more