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JPMorgan quarterly profit falls 6.7% hurt by drop in investment banking revenue

JPMorgan quarterly profit falls 6.7% hurt by drop in investment banking revenue

JPMorgan Chase & Co, the biggest US bank by assets, reported a 6.7 percent drop in quarterly profit as costs to cover possible sour loans to troubled shale oil companies rose and revenue from trading and investment banking declined.

JPMorgan profit rises as expenses fall

JPMorgan Chase & Co , the biggest US bank by assets, reported a 5.2 percent increase in quarterly profit as expenses declined.

GE in talks to sell lending unit for $74 bn: Report

General Electric, refocusing on its industrial roots, is in talks to sell its USD 74 billion commercial lending unit to Wells Fargo, the fourth-largest US bank, The Wall Street Journal reported on Monday.

Citi posts highest quarterly profit in 8 years as costs plunge

Citi has been slowly getting its house in order by cutting costs and shedding assets that are not critical to its main businesses. It has sold retail operations in many countries and shrunk its U.S. branch network.

Citigroup to exit Argentine custody business

Next steps could include the sale of the custody business, or just terminating it, Citi attorneys at Davis Polk & Wardwell said in the letter.

Citigroup profit falls on legal and restructuring charges

Citigroup Inc, in the midst of a pullback from consumer banking in a number of international markets, eked out a slim fourth-quarter profit after taking charges of $3.5 billion to settle legal claims and overhaul operations.

Fed targets JPMorgan as it favors traditional banks

In publicly declaring that JPMorgan Chase should raise $22 billion, the Federal Reserve has delivered a hard blow to the largest US bank and shown its preference for traditional banks.

JPMorgan's Dimon says cancer treatment successful

JPMorgan Chase chief executive Jamie Dimon told bank employees Friday that his throat cancer has disappeared after three months of treatment.

JPMorgan continues run as top ranked investment bank

JPMorgan retained its crown as the top performing investment bank in the first nine months of the year, having made revenue of $17.1 billion in the year-to-date.

JPMorgan plans cut 3,000 more jobs this year

JPMorgan will also eliminate more jobs in its mortgage unit, reducing up to 7,000 positions in that part of the bank, compared with an earlier target of 6,000.

Bank of America moves past worst legal costs, posts loss

Since 2010, the second-largest U.S. bank has agreed to pay at least $70 billion to resolve disputes linked to home loans, mortgage bonds and other problems stemming from before and during the crisis.

Fidelity attacked by JPMorgan hackers, no data stolen: Report

JPMorgan is the only company to have confirmed that information was stolen.

Head of Citigroup's troubled Mexico unit resigns

Citi said that Javier Arrigunaga was stepping down "in light of the difficult challenges our franchise in Mexico has faced over the past year."

Information on 76mn households affected by cyber breach: JP Morgan

The bank said that there was no evidence that critical account information such as account numbers, user identities or social security numbers were stolen by the hackers.

JPMorgan Chase shares jump despite lower earnings

JPMorgan, the biggest US bank by assets, said second-quarter earnings slid 7.9 percent from the year-ago period to $5.99 billion

US Justice Department preparing to sue Citigroup

Spokesmen in New York for Citigroup didn't immediately return calls seeking comment on Friday.

BofA could pay at least $12 bn to settle US probes: Report

Bank of America Corp could pay more than USD 12 billion to settle probes by the US Justice Department and a number of states into the bank`s alleged handling of shoddy mortgages, the Wall Street Journal said,.

Goldman Sachs fears risks if rivals plead guilty

The head of US bank Goldman Sachs has warned that guilty pleas from rivals BNP Paribas and Credit Suisse, under legal proceedings in the United States, could hurt the financial system.

Citigroup profits up 3.5% on lower costs, improved credit

Citigroup reported slightly higher quarterly earnings on Monday, as lower expenses and credit losses helped offset revenue declines in mortgage finance and trading.

Citigroup cuts 200-300 jobs: Report

US bank Citigroup has cut between 200 and 300 additional jobs, most in the global markets business, The Wall Street Journal reported Sunday.