JPMorgan profits rise beyond expectations in the first quarter April 14, 2015 During the first financial quarter of 2015, JPMorgan's profits reached $5.9bn (£4bn) – a 12 per cent increase on last year's figure of $5.3bn. This was equivalent to $1.45 per share, which beat analyst expectations of $1.41 per share. Revenue was also up, at $24.8bn – a rise of four per cent. It's the [...]
JP Morgan promotes London bosses Viswas Raghavan and Emilio Saracho April 13, 2015 A pair of JP Morgan’s top bankers in London were promoted to bigger global roles yesterday, indicating the sustained success of the Canary Wharf office. Emilio Saracho has been deputy chief executive of the corporate and investment bank (CIB) in Europe, the Middle East and Africa (EMEA) for two years, and is being promoted to become one [...]
Miliband’s romance web entangles top JP Morgan wonk April 12, 2015 Is all publicity good publicity? Not according to former BBC hack turned City economist Stephanie Flanders. The JP Morgan Asset Management strategist lashed out at the Sunday Times yesterday over a feature digging up a “web of romance” surrounding Ed Miliband’s former lovers (apologies, Reader, if you’re currently eating your breakfast). Flanders was named as [...]
JP Morgan joins forces with pharma giants to lead $100m dementia fund March 17, 2015 JP Morgan has partnered with the UK government to launch a new multimillion pound fund to encourage research into treatment for dementia. The New York-based investment bank said it had been working with the government to structure the Dementia Discovery Fund in such a way that it would make a profit for investors while funding research [...]
JP Morgan and the Brookings Institution host UK-US trade summit: What can cities do to boost exports? February 26, 2015 Sheffield’s manufacturing heartlands were once dominated by grey steel, but now they make something more colourful. Sheffield council’s recent push to boost exports has helped one hair dye manufacturer win a six-figure contract to make hair dye for Asian consumers – and it won’t be the last. “Our initiative is already targeting 60 companies in [...]
New Look hires JPMorgan as it eyes £2bn float February 23, 2015 Fast fashion chain New Look has taken a step closer to an initial public listing (IPO), having hired JP Morgan to work on options for a flotation. Reports suggest the retailer, which is currently owned by private equity firms Apax and Permira as well as founder Tom Singh, could be valued at as much [...]
Dixons Carphone share price falls 5 per cent after JP Morgan broker downgrade makes it the biggest faller on the FTSE 100 January 27, 2015 Dixons Carphone's share price fell as much as 5.6 per cent in early afternoon trade today, making it the biggest faller on the FTSE 100, after a broker downgrade. Morgan Stanley slashed the stock's rating to "underweight" from "equal weight," saying the shares were significantly overvalued and that it was "not a growth business." "While [...]
JP Morgan boss Jamie Dimon: Banks are under assault January 14, 2015 The flood of megafines and regulations being inflicted on banks amounts to an “assault” by a multitude of authorities, JP Morgan’s boss Jamie Dimon claimed yesterday. Such a sustained attack threatens the competitiveness of the US as a whole, the chairman and chief executive said in an unusually outspoken defence of the industry. “Banks are [...]
JPMorgan’s fourth quarter blighted by $1bn forex fine January 14, 2015 JPMorgan Chase's fourth quarter earnings have been hit by nearly $1bn (£656m) of legal costs relating to the forex scandal. The bank would have reported an annual increase in net income of more than $500m (£328m) if it had not been for the fees. Instead it was down 6.6 per cent. The figures [...]
JP Morgan chief executive Jamie Dimon is “clear of cancer” December 5, 2014 JP Morgan boss Jame Dimon has told employees he is clear of throat cancer. In an internal memo sent to staff, the 58-year-old boss of the US' largest bank said there was "no evidence of cancer left in my body" after CAT and PET scans three months after treatment. The good news is that the [...]