Amazon's continued quest for world domination extended into retail financial services on Monday, with reports the e-commerce and technology behemoth was considering a partnership with Wall Street banks to build a current account product for US customers.
Healthcare companies found themselves in the crosshairs of three of the US' biggest corporate guns on Tuesday as Amazon, JP Morgan and Warren Buffett's Berkshire Hathaway joined forces to cut sickness insurance costs for their employees.
JPMorgan Chase beat Wall Street's expectations for earnings in its fourth trading quarter, saying recent reforms to US tax laws would help boost profits, not only by cutting down the amount of tax the firm paid to the federal government but also by enticing more corporations to borrow further.
Wall Street is set for a lower open with markets focused on central bank speak as the financial world's 'great and good' meet in Washington for the International Monetary Fund and World Bank's annual meetings, alongside the first quarterly updates from Wall Street's bulge bracket banks.
JP Morgan reported better-than-expected third quarter profits despite a large increase in credit loss provisions and a sharp drop in markets revenues.
Investment banks could be forced to restructure if the current lull in market volatility continues to pare revenues, said credit rating agency S&P Global as it warned ratings downgrades could follow.
Polish Deputy Prime Minister Mateusz Morawiecki announced on Friday that US bank JP Morgan Chase had picked Warsaw to play host to its new global operations centre, bringing thousands of jobs to the region from the beginning of 2018.
Jamie Dimon, the chief executive of JPMorgan said yesterday that his future successor was already working at the bank.
JPMorgan chief, Jamie Dimon, said he would fire any JP Morgan trader who traded Bitcoins because it's against the lender's rules and because it shows they are stupid; furthermore, governments will eventually clamp down on them.
Wall Street continued to edge higher at the end of the week despite the release of a slate of weaker-than-expected economic data.
Wall Street heavyweight JP Morgan posted better than expected top and bottom-line growth for its latest three-month stretch, despite widely-anticipated weakness in its Markets unit, and increases to its capital return plans.
Falling prices for metals and a sharp drop in crude oil futures weighed on the main Wall Street averages as investors waited on the release of the US central bank's Beige Book later in the session.
US investment bank JPMorgan Chase has confirmed plans to move hundreds of jobs away from London following Britain's exit from the European Union.
JP Morgan's first quarter financials blew past the Street's forecasts thanks to robust trading at its Corporate and Investment Banking arm.
US President Donald Trump has vowed to introduce major reforms to the Dodd-Frank banking regulations in the US, which were introduced in the aftermath of the global financial crisis in 2008.
Up to 100 people were killed and hundreds injured yesterday in the deadliest nerve-gas attack in Syria in four years, prompting international condemnation of President Assad's regime. Witnesses said that missiles filled with sarin nerve gas were fired by planes into Khan Sheikhoun, a frontline town in rebel-held Idlib province, early yesterday, suffocating civilians as they slept. - The Times
US investment banking giant JPMorgan Chase is said to be in talks to negotiate the purchase of a prime office property in Dublin to house 1,000 new employees.
The election of Donald Trump as the president of the US has been a major boost to businesses in the country, according to the head of one of its biggest banks.
Investment banking giant JPMorgan Chase Co is taking steps to move its mortgage application and process to a digital platform, according to consumer mortgage chief Mike Weinbach.
Banks paced gains in the market on Wednesday amid a bevy of relatively confident Fed speak.