The largest U.S. banks pass the Federal Reserve’s annual stress test. Results pave the way for them to issue share buybacks and dividends. 34 lenders with more than $100 billion in assets would suffer a combined $612 billion in losses under this year’s scenario. The average capital ratio for the 34 banks was 9. That … Read more
JPMorgan Chase stated the USA economic system stays on solid footing for the quick-term, however warned of heightened longer-term dangers due to inflation and the Ukraine conflict as its pronounced lower quarterly profits. Executives from the large financial institution said households and groups generally remained in appropriate shape, amid a tightening hard work marketplace. But higher … Read more
DUBAI: Deutsche Bank AG, JPMorgan Chase and Co and Societe Generale SA are changing to a Saturday-Sunday weekend from the New Year in the UAE. The German bank will from January 3, 2022 operate Monday-Friday instead of the current Sunday-Thursday, as is common around the Middle East, a source familiar with the matter told Reuters. Wall … Read more
NEW YORK – Major US stock indices fell on Friday to end a tumultuous week of trading on a downbeat note, as markets searched for optimism amid a slew of concerning news. Chief among traders’ concerns was the Omicron variant of Covid-19 and general fears of renewed business disruptions from the pandemic as cases surge in the … Read more
NEW YORK – JPMorgan Chase was hit with $200 million in fines after admitting to “widespread” recordkeeping violations including use of unapproved messaging apps and failing to preserve communications, US regulators announced Friday. “From at least January 2018 through at least November 2020, JPMorgan employees often communicated about securities business matters on their personal devices, using text … Read more
Turmoil in global equity markets due to the new omicron variant could be an opportunity for investors to rebuild positions, JPMorgan, as saying. According to Bloomberg, the American investment bank suggested the latest evolution of the Covid-19 virus might ultimately be a positive for risk markets because it could signal that the end of the pandemic … Read more
NEW YORK: Goldman Sachs reported a jump in the third quarter profits on Friday behind robust gains in its financial advisory and trading divisions, capping a strong week of results for the large US banks. The big New York investment bank reported profits of $5.3 billion, up 63 per cent on a 26 per cent … Read more
