JPMorgan Executive Pay ‘Clawbacks’ Revealed
Chris Hondros/Getty Images(NEW YORK) — JPMorgan Chase has initiated compensation clawbacks related to its $5.8 billion trading loss, after announcing that some employees may have intentionally tried to hide the bad trades.Ina Drew, who formerly led JP…
JPMorgan Reports $5B Profit, Expands Trading Loss
Peter Foley/Bloomberg via Getty Images(NEW YORK) — JPMorgan Chase, still reeling from trading losses in its investment unit, reported a second-quarter profit of $5 billion on Friday.Investors were less interested in the largest U.S. bank’s net i…
Report: JPMorgan Chase Trading Loss Could Rise to $9 Billion
Peter Foley/Bloomberg via Getty Images(NEW YORK) — Trading losses at JPMorgan Chase may be much bigger than previously thought.Citing people familiar with the matter, The New York Times reports the bank’s losses may have ballooned to as much as $9 bil…
Reid Says JPMorgan Should ‘Take Their Business to Las Vegas’
Alex Wong/Getty Images(WASHINGTON) — Senate Majority Leader Harry Reid, D-Nev., suggested Tuesday that JPMorgan “take their business to Las Vegas,” after the bank’s $2 billion loss stemming from bad trades.“Because it’s j…
Stocks Affected by JPMorgan Loss
Hemera/Thinkstock(NEW YORK) — Stunning news from the nation’s biggest bank prompted a sell off to end the week.The Dow closed down 24 points at 12,832 Friday. The Nasdaq finished up with a modest six point gain at 2,940, while the S&P lost three p…
JPMorgan Trading Loss Roils Markets, Raises Fears About Bank Risks
STAN HONDA/AFP/Getty Images(NEW YORK) — JP Morgan Chase & Co. is rocking the financial markets with the disclosure that its in-house trading operating lost $2 billion in the past six weeks, raising new questions about whether the big banks that ca…
JPMorgan Bank Announces Massive Surprise Loss
STAN HONDA/AFP/Getty Images(NEW YORK) — JPMorgan, in an unexpected announcement, said it saw $2 billion in trading losses in the last six weeks, and may yet see more.“We have egg on our face,” Jamie Dimon, the massive bank’s CEO, sai…