City will be shaken up by AI – so we asked ChatGPT for an equities strategy Artificial Intelligence Artificial intelligence and machine learning is set to transform trading over the next three years, a JP Morgan survey shows, as traders anticipate the potential for new technologies to shake up trading floors. Over half of traders surveyed in JP Morgan’s eTrading survey predicted that AI and machine learning will be the most influential technology [...]
US lawsuit alleges Jes Staley saw Jeffrey Epstein abuse young women – report JES STALEY A US lawsuit filed today has accused former head of Barclays Jes Staley of “personally observ[ing] the sexual abuse of young women” by Jeffrey Epstein. Staley is named in a lawsuit filed by one of Epstein’s victims, known as Jane Doe 1, who is suing JP Morgan for allegedly facilitating her sexual abuse. Staley was [...]
Dimon heralds ‘fortress balance sheet’: JP Morgan revenue up 17 per cent as interest rate boon continues JP Morgan earnings JP Morgan beat expectations in its quarterly results, reporting increases in both income and revenue as higher interest rates continued to benefit the Wall Street giant. In the three months to December 31, JP Morgan reported net income of $11.0bn (£9.0bn), up from $10.4bn in the same period last year. The bank’s earnings per share [...]
How recession in the US is expected to affect bank earnings this week January 11, 2023 US earnings season kicks off later this week with a string of results from some of the country’s largest banks. JP Morgan, Citi Group, Wells Fargo and Bank of America will all release results on Friday in an interesting environment – to say the least. While higher interest rates have led to record levels of [...]
JP Morgan in talks over potential Freetrade takeover December 1, 2022 JP Morgan is reportedly gearing up to buy stock trading app Freetrade in a grand push to expand its fintech offering. According to initial reports from Mark Kleinman for Sky News, the City titan has been in talks with the British stock trading app, which allows customers to buy British, American and European stocks and [...]
City workers are ignoring ‘ego driven’ calls to return to offices November 29, 2022 City workers are ignoring calls from ‘C Suite’ executives for staff to come into the office for a minimum number of days each week, according to a new report. Workers and managers in the financial and professional services sectors are instead employing their own “bespoke” working models that align with their specific operational needs, the [...]
JP Morgan settles with trader fired over wrongful allegations of market spoofing November 8, 2022 JP Morgan has settled with a trader, who was wrongly fired from his job for market spoofing, after the bank failed to pay a £1.58m sum awarded to him by an employment tribunal in January. Ex-trader Bradley Jones was awarded £1.58m after an employment tribunal ruled he was wrongly fired from his £220,000 a year job [...]
JP Morgan tops quarter estimates whilst Morgan Stanley misses the mark October 14, 2022 JP Morgan reported a less-than-feared 17 per cent fall in third-quarter profit this afternoon, while Morgan Stanley posts a revenue plunge. JP Morgan’s adjusted profit was $3.36 per share, above analysts’ average estimate of $2.88, according to Refinitiv data. JP Morgan chief Jamie Dimon said that consumers in the US were continuing to spend despite [...]
£277m financing deal between Quintain and J.P. Morgan to provide new homes at Wembley Park September 28, 2022 A £277m financing deal between development company Quintain and investment bank J.P. Morgan Chase will provide 769 new homes at Wembley Park. 74 percent of Quintain’s two new residential buildings, expected to be completed by early 2025, will be ‘Build-to-Rent’. Shops, cafes, restaurants and a 7-acre park are also in the works. The largest construction [...]
Citigroup hires veteran JP Morgan dealmaker to bolster London team September 14, 2022 Citigroup has hired JP Morgan veteran Barry Weir as the new managing director of its London investment banking team. The veteran dealmaker, known for his expertise in natural resources, will join Citigroup’s London office in September, acco. rding to Bloomberg. Citibank’s poaching efforts come as the New York bank is seeking to bolster its UK [...]