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JPMorgan to spin out ‘special investments’

The bank is spinning out the group that caused $2bn in trading losses from its troubled chief investment office as executives clean up the London division

Morgan Stanley chief defends Facebook role

The disappointing market debut is haunting the social networking industry, sapping demand for shares in other recently debuted internet companies

M Stanley derivatives switch hits hold-up

Regulators stall on group’s plan to shift part of its $52tn portfolio to its banking arm and soften the possible $9.6bn blow from a potential credit downgrade

JPMorgan in Japan insider trading probe

US bank is under scrutiny after employee allegedly leaked information on Nippon Sheet Glass share issue, which was used by a hedge fund

Goldman in deal to buy Vale’s coal assets

The sale of its Colombian thermal coal operations for $407m will allow the Brazilian miner to concentrate on its core metals business

Related content and features

Earnings news

Bank of America

Bank of America

April 19: Bank reports improved core profits for the first quarter, aided by a rebound in trading revenues, but fails to turn a profit in home loans

Goldman Sachs

Goldman Sachs

April 17: Wall Street bank reports 23% drop in first quarter profits compared with last year, but results beat expectations after a trading rebound

Morgan Stanley

morgan stanley

April 19: Investment bank reports an increase in sales and trading of fixed income securities that trumps the gains produced by its competitors

Citigroup

Citigroup

April 17: Citi reports improved first-quarter earnings and a rebound in investment banking from a poor previous quarter

JPMorgan

JP Morgan logo

April 13: US bank beats analyst expectations as it kicks off earnings season for American lenders, with higher revenues auguring well for Wall Street firms

    Wells Fargo

    Wells Fargo

    January 17: Results underline US banks’ diverging fortunes as Wells’ net income surges by 20 per cent to $4.1bn

      Comment and analysis

      JPMorgan shows fighting complexity is futile

      The line between proprietary trading, client facilitation and hedging is sometimes so thin as to be nonexistent, writes Sallie Krawcheck

      Biggest US banks in senator’s sights

      Sherrod Brown renews congressional push to break-up America’s top lenders to put an end to the ‘too big to fail’ problem that sparked bailouts

      M Stanley turns profit on Facebook support

      The profit for the lead underwriter is likely to focus attention on the mechanics of how big Wall Street banks ‘stabilise’ shares in IPOs

      JPMorgan takes more risk than rivals

      The bank’s regulatory filings reveal the full extent of trading at its chief investment office, which is still reeling from a $2bn-plus trading loss

      JPMorgan loss set to alter regulatory focus

      The trading loss at JPMorgan Chase is likely to refocus regulators’ attention on the pitfalls of banks using derivatives to hedge a portfolio of assets

      Banking: Back to the wall

      JPMorgan Chase’s $2bn loss tarnishes the reputation of chief executive Jamie Dimon as a hawk-eyed risk manager prepared to confront regulators

      Size can be deadly in a low-rate world

      There is one aspect of JPMorgan’s tale that generates a weary sigh of recognition from rivals: the investment dilemma the bank found itself in in recent years

      JPMorgan reaction

      If clawbacks are employed, patforwards should be too – and indeed some consultancies do this already

      Multimedia

      Changing landscape of US banks

      An interactive timeline focusing on three of the largest bank mergers in decades that took place in the aftermath of the collapse of Lehman Brothers

      Stress tested

      Interactive chart: see how large US banks would fare under adverse conditions according to the Fed’s Supervisory Capital Assessment Program

      Changing landscape of US banks

      More stories

      Glitches halt new Goldman trade platform

      JPMorgan revamps board risk committee

      Shareholders back Goldman pay plans

      US bank lending slackens

      JPMorgan takes more risk than rivals

      M Stanley turns profit on Facebook support

      Buffett banker details ‘top secret’ deal

      JPMorgan hires ex-SEC enforcer

      Troubleshooter in running to succeed Dimon

      Morgan Stanley subpoenaed over IPO