JP Morgan and the Brookings Institution host UK-US trade summit: What can cities do to boost exports? February 26, 2015 Sheffield’s manufacturing heartlands were once dominated by grey steel, but now they make something more colourful. Sheffield council’s recent push to boost exports has helped one hair dye manufacturer win a six-figure contract to make hair dye for Asian consumers – and it won’t be the last. “Our initiative is already targeting 60 companies in [...]
New Look hires JPMorgan as it eyes £2bn float February 23, 2015 Fast fashion chain New Look has taken a step closer to an initial public listing (IPO), having hired JP Morgan to work on options for a flotation. Reports suggest the retailer, which is currently owned by private equity firms Apax and Permira as well as founder Tom Singh, could be valued at as much [...]
Dixons Carphone share price falls 5 per cent after JP Morgan broker downgrade makes it the biggest faller on the FTSE 100 January 27, 2015 Dixons Carphone's share price fell as much as 5.6 per cent in early afternoon trade today, making it the biggest faller on the FTSE 100, after a broker downgrade. Morgan Stanley slashed the stock's rating to "underweight" from "equal weight," saying the shares were significantly overvalued and that it was "not a growth business." "While [...]
JP Morgan boss Jamie Dimon: Banks are under assault January 14, 2015 The flood of megafines and regulations being inflicted on banks amounts to an “assault” by a multitude of authorities, JP Morgan’s boss Jamie Dimon claimed yesterday. Such a sustained attack threatens the competitiveness of the US as a whole, the chairman and chief executive said in an unusually outspoken defence of the industry. “Banks are [...]
JPMorgan’s fourth quarter blighted by $1bn forex fine January 14, 2015 JPMorgan Chase's fourth quarter earnings have been hit by nearly $1bn (£656m) of legal costs relating to the forex scandal. The bank would have reported an annual increase in net income of more than $500m (£328m) if it had not been for the fees. Instead it was down 6.6 per cent. The figures [...]
JP Morgan chief executive Jamie Dimon is “clear of cancer” December 5, 2014 JP Morgan boss Jame Dimon has told employees he is clear of throat cancer. In an internal memo sent to staff, the 58-year-old boss of the US' largest bank said there was "no evidence of cancer left in my body" after CAT and PET scans three months after treatment. The good news is that the [...]
JP Morgan gets double top in adviser ranking November 30, 2014 JP Morgan Cazenove picked up two top placings this morning as financial data publisher Adviser Rankings unveiled its quarterly corporate advisers rankings guide for the fourth quarter of 2014. The US bank once again was named top stockbroker with 211 stock market listed clients. JP Morgan also topped the financial advisers table – again for [...]
Forex rigging scandal: RBS, UBS, HSBC, JP Morgan and Citi set for lawsuit storm after £2bn FCA fine November 12, 2014 Funds, companies and other traders hurt by banks manipulating the foreign exchange markets could make claims totalling many billions of pounds, lawyers said yesterday. Five banks were fined a total of £2bn by the UK’s Financial Conduct Authority and the US Commodity Futures Trading Commission authorities because their traders fiddled key currency benchmarks. But the [...]
Forex rigging scandal: How the FCA fines have hit RBS, HSBC, Bank of America, JP Morgan, Citi and UBS November 12, 2014 RBS RBS is the most apologetic of the banks, in part because it is 81 per cent taxpayer owned, and in part because its chief executive joined after the wrongdoing. “To say I’m angry about this misconduct would be an understatement,” chief Ross McEwan said yesterday. “We’ve had people working in this bank who didn’t [...]
FCA hits RBS, HSBC, UBS, JPMorgan and Citi with record £1.1bn fine in forex rigging scandal November 12, 2014 Some of Britain's biggest banks have been slapped with a fine of £1.1bn by the Financial Conduct Authority (FCA) for "failing to control business practices" in their foreign exchange trading operations. After a year-long investigation into allegations of rate-rigging in their spot forex trading businesses, the UK's financial watchdog said the actions of the five [...]