Isa season may be in the rear view mirror but that doesn't mean a slowdown in scammers competing to separate savers from their cash with the promise of high rates. Proving that no bank is too big to impersonate, This is Money has been alerted to the existence of fraudsters posing as US banking giant JP Morgan Chase flogging fixed-rate tax-free bonds offering returns way above those on sale in our best buy tables. We have been provided with leaflets advertising 'special issue bank bonds' offering four per cent for a one-year fixed-rate, six per cent for a two-year and three per cent for a three-year term, all of which claim to be 'fully asset backed' and 'FSCS qualified'. A This is Money reader was all set to transfer a substantial sum of money to what she thought was US banking giant JP Morgan Chase Our reader was nearly caught out by the professional looking documents and was all set to transfer a substantial sum over to the scammers, before she noticed a mistake on the purchase … [Read more...] about Beware the fake JP Morgan Chase bond paying 8%
Jp morgan 4q 2018 earnings
US investment bank JP Morgan beat expectations in its first quarter results today, sending shares up four per cent. The bank, the largest in the US by assets, delivered record revenue and profit figures, boosted by higher interest rates. Revenue in the quarter to 31 March rose 4.7 per cent to $29.85bn (£22.84bn), up from $27.9bn the previous year. Read more: JP Morgan plans to cut hundreds of asset and wealth management jobs Analysts had expected revenue of $28.44bn, according to data from Refinitiv. Profit jumped five per cent to $9.18bn or $2.65 per share, up from $8.71bn, or $2.37 per share the previous year. Analysts had estimated earnings of $2.35 per share, according to data from Refinitiv. Net interest income increased eight per cent to $14.6nm, helped by interest rate increases since the first quarter of last year. Read more: JP Morgan launches its own cryptocurrency JP Morgan is the first of the big US banks to report its results, in a closely watched measure of the … [Read more...] about JP Morgan beats market expectations for first quarter sending shares surging
JP Morgan ordered to pay costs as £670m Nigerian case heads to court BelfastTelegraph.co.uk JP Morgan has failed in its latest attempt to halt an 875 million US dollar (£670 million) lawsuit brought by the Nigerian government, as the investment banking titan was also ordered to pay £375,000 in legal costs. https://www.belfasttelegraph.co.uk/business/uk-world/jp-morgan-ordered-to-pay-costs-as-670m-nigerian-case-heads-to-court-37893173.html https://www.belfasttelegraph.co.uk/business/uk-world/article37893172.ece/ba5b1/AUTOCROP/h342/bpanews_b71a0227-8353-4443-a59b-a8345747ac16_1 Email JP Morgan has failed in its latest attempt to halt an 875 million US dollar (£670 million) lawsuit brought by the Nigerian government, as the investment banking titan was also ordered to pay £375,000 in legal costs. Weekly Business Digest Newsletter The Wall Street firm stands accused of failing to prevent the transfer of corrupt payments to former Nigerian minister Dan … [Read more...] about JP Morgan ordered to pay costs as £670m Nigerian case heads to court
FILE PHOTO: A pedestrian walks past a General Electric (GE) facility in Medford, Massachusetts, U.S., April 20, 2017. REUTERS/Brian Snyder/File Photo (Reuters) - Shares of General Electric Co fell 3 percent on Tuesday after a top-rated JP Morgan analyst raised concerns about the company’s divestiture plans and its impact on free cash flow. Analyst Stephen Tusa, who has held a negative outlook on the stock, had in December upgraded the stock to “neutral”, saying the challenges the conglomerate faces are better understood. The stock rose 11 percent after Tusa ditched his long-held negative view. In a note on Tuesday, Tusa said GE’s fourth-quarter results, scheduled for Thursday, would be of less significance compared to its commentary on ailing businesses like insurance and capital services. “We believe the focus in 4Q should turn back to these fundamentals, where we continue to point to the mechanical headwinds from dilutive asset sales, a key … [Read more...] about GE falls after JP Morgan’s Tusa brings back focus on free cash flow
Two stories from the banking sector this week highlight the difference between how business is done in the United States and Europe. In the US it has emerged overnight that Jamie Dimon, the chief executive of JP Morgan Chase, America's biggest bank, was paid $31m (£24m) during 2018, representing a 5% pay increase.The package is the most Mr Dimon has been paid in a year, exceeding the record $30m he received in 2007, prior to the financial crisis.The pay-out could ultimately turn out to be worth substantially more than that, however, as most of it came in the form of 'restricted stock units' that convert into shares three years from now.Mr Dimon will then be required to hold onto those shares for a further two years - so the ultimate worth of his 2018 package could ultimately prove to be a great deal higher.In a statement, the JP Morgan Chase board said Mr Dimon had received the pay-out in view of its "strong performance" during the year.JP Morgan Chase reported profits of $32.5bn … [Read more...] about Jamie Dimon: Should JP Morgan pay its boss £24m a year?