Credit costs remain high
Following on the heels of Goldman Sachs’ blowout second quarter results, J.P. Morgan Chase & Co. Thursday reported a standout performance of its own, although the impact of the uglier credit cycle is more evident in its results.The U.S. banking giant reported second quarter net income of US$2.7 billion, up 36% from the same period […]
But bank’s Q1 financial permformance to date is “solidly profitable”
J.P. Morgan has completed its acquisitions of UBS Commodities Canada Ltd. and UBS AG’s global agricultural business, the Wall Street investment bank announced Monday.UBS Commodities Canada Ltd., which is based in Calgary, is now known as J.P. Morgan Commodities Canada Corp. The firm said that the acquisition expands its global commodities business into the Canadian […]
Integration of Washington Mutual progressing well, CEO says
J.P. Morgan to acquire Canadian energy business from UBS
Investment bank unit sees profits improve
JPM also announced that it intends to offer US$8 billion of its common stock to bolster its capital
Earnings hit by unfavorable credit environment and market conditions
The Federal Reserve Bank of New York has completed financing arrangements to facilitate J.P. Morgan Chase & Co.’s acquisition of Bear Stearns Companies Inc.The New York Fed has extended a $28.82 billion loan, and J.P. Morgan Chase has extended a $1.15 billion loan, to a Delaware limited liability company. The LLC, which will be consolidated […]