Jp Morgan Chase | featured news

A Senate panel has issued a scathing assessment of JPMorgan's $6.2 billion trading loss last year. The investigation found that bank officials ignored growing risks and hid losses from investors and federal regulators.

US bank JP Morgan Chase reveals plans to cut up to 19,000 jobs by the end of next year in its mortgage and community banking businesses.

Apple’s stock continued to dominate the news over the weekend, with Barron’s placing it on the top of its favorite 2013 stock list. Barnes & Noble, BlackRock, General Dynamics, JPMorgan Chase, Marathon Petroleum, Novartis, Royal Dutch, Viacom B, and Western Digital also made it to the list.

Advanced Micro Devices has hired JPMorgan Chase & Co to explore options, which could include a potential sale, as the chipmaker struggles to find a role in an industry increasingly focused on mobile and away from traditional PCs, according to three sources familiar with the situation.

Two of the nation's largest banks released third-quarter results that suggest the U.S. housing market, a key factor in the nation's economic performance, is bouncing back as mortgage rates hit record lows and home refinancings surge.

Finally moving beyond a trading debacle that has stained his once-stellar reputation, Jamie Dimon, JPMorgan Chase’s chief executive, on Friday trumpeted a strong quarter of earnings stemming from a surge in mortgage lending.

The institution is accelerating its cost-cutting strategy, planning to pare its operations so much that it will lose its spot as the nation’s largest bank employer, falling behind the likes of JP Morgan Chase, Wells Fargo and Citigroup.

Regulators, led by the Office of the Comptroller of the Currency, are said to be close to taking action against JPMorgan Chase for insufficient safeguards.

JPMorgan Chase on Thursday formally revised its first-quarter financial results to show a lower profit, after deciding that traders at its main investment arm had overstated the value of certain derivatives.

A unique, hard-hitting report just completed by a California attorney exposes a largely unknown federal food-stamp racket involving large grocery retailers, food manufacturing giants and other private players, including the Federal Reserve and JPMorganChase, which combine to channel food stamp spending into a gravy train for the heavy hitters in the food industry.