Stock Market & Financial Investment News

News Breaks February 20, 2013 11:31 EDT JPM Investors to call on JP Morgan to split CEO, Chairman roles, WSJ reports Citing concerns over a trading fiasco that left the company with over $6B in losses, investors are calling for JP Morgan (JPM) to split the chairman and CEO posts held by James Dimon, reports the Wall Street Journal. The American Federation of State, County and Municipal Employees, and pension funds in Connecticut and New York are said to back the new resolution asking the bank to name an independent board chair. Reference Link News For JPM From The Last 14 Days Check below for free stories on JPM the last two weeks. Sign up for a free trial to see the rest of the stories you've been missing. << 1 | 2 | 3 | all recent JPM news | >> May 13, 2013 07:07 EDT JPM JPMorgan shares offer good value, says Bernstein Subscribe for More Information 06:22 EDT JPM JPMorgan's Dimon has considered leaving the bank, WSJ reports Subscribe for More Information May 10, 2013 14:21 EDT JPM JPMorgan directors recommend against splitting Chairman, CEO roles Two of JPMorgan's directors, Lee Raymond and William Weldon, sent a letter to shareholders of the bank urging for re-election of all its existing directors and supporting Jamie Dimon continuing as both Chairman and CEO. The directors, who identified themselves as the Presiding Director and the Chairman of the Corporate Governance & Nominating Committee, stated: "We believe that a vote against our current Directors or a vote to permanently separate the Chairman and CEO positions could be disruptive to the Company and is not in shareholders’ best interests," according to a copy of the letter posted online by Financial Times. Reference Link May 9, 2013 17:12 EDT JPM JPMorgan sued by California for "fraudulent, unlawful debt-collection practices" Attorney General Kamala D. Harris filed an enforcement action against JPMorgan Chase alleging that the bank engaged in fraudulent and unlawful debt-collection practices against tens of thousands of Californians. The suit alleges that Chase engaged in widespread, illegal robo-signing, among other unlawful practices, to commit debt-collection abuses against approximately 100,000 California credit card borrowers over at least a three-year period. Chase used California’s judicial system as a mill to obtain default judgments, the suit alleges, using illegal tactics to flood the state’s court system in order to secure default judgments and garnish wages from Californians. Reference Link 08:09 EDT JPM JPMorgan, Bank of America had perfect trading records in Q1, Bloomberg reports JPMorgan Chase (JPM) and Bank of America (BAC) had perfect trading records in the first quarter, making money every day of the period as Morgan Stanley (MS) posted losses in eight sessions and Goldman Sachs (GS) in two, reports Bloomberg. One daily gain at JPMorgan was over $200M as the bank recovered from last year’s London Whale derivatives loss, the company said in a regulatory filing. Reference Link 07:35 EDT JPM Platts to host a conference Subscribe for More Information 06:40 EDT JPM Calpers to support separation of chairman, CEO roles at JPMorgan, NY Times says Subscribe for More Information 05:43 EDT JPM Big banks take the offense against Washington, WSJ reports The biggest U.S. banks are going on the offensive to fight off growing efforts in Washington to rein them in, reports the Wall Street Journal. They've hired longtime, influential Washington insiders to deflect regulatory and political pressure to strengthen their finances and to sell assets. Reference Link 05:39 EDT JPM JPMorgan looks for more board directors for its risk committee, WSJ reports Subscribe for More Information May 8, 2013 19:52 EDT JPM JPMorgan discloses receipt of Wells-type notice from FERC In a regulatory filing, JPMorgan disclosed that the Federal Energy Regulatory Commission is investigating the firm’s bidding practices in certain organized power markets. In March, the firm received a Wells-type notice that the FERC staff intends to recommend that the Commission bring a possible enforcement action against J.P. Morgan Ventures Energy, JPMorgan Chase, and certain firm personnel relating to alleged violations of FERC rules and the rules of certain independent system operators. Additionally, in November 2012, the FERC issued an order suspending JPMVEC’s market-based rate authority for six months commencing on April 1, based on its finding that statements concerning discovery obligations made in submissions related to the FERC investigation violated FERC rules regarding misleading information. 16:18 EDT JPM FERC delivers 'wells-type' notice to JPMorgan on energy probe, Bloomberg reports 10:57 EDT JPM ICU Medical jumps after report says company considering sale Subscribe for More Information 10:20 EDT JPM JPMorgan chooses Bisso to run North America investment office, Bloomberg says Subscribe for More Information 09:45 EDT JPM JPMorgan named Erik Bisso as CIO for North America, Bloomberg reports Subscribe for More Information May 7, 2013 10:56 EDT JPM Second firm recommends JPMorgan split CEO, Chairman roles, FT reports Subscribe for More Information 10:28 EDT JPM JPMorgan may cut commodity trader jobs in London, Dubai, Bloomberg says Subscribe for More Information 07:10 EDT JPM Three major JPMorgan shareholders undecided on Dimon's roles, WSJ reports Subscribe for More Information 06:07 EDT JPM On the Fly: Periodicals Wrap-Up WALL STREET JOURNAL: Some of the world's biggest handset makers and telecom carriers are embracing alternative mobile operating systems this year in an attempt to become credible challengers to smartphones run by Apple (AAPL) and Google (GOOG), the Wall Street Journal reports...JPMorgan Chase (JPM) has yet to persuade three of its largest shareholders--BlackRock (BLK), Vanguard Group and Fidelity Investments--to back the company in a coming vote over whether James Dimon should retain his dual role of chairman and CEO, the Wall Street Journal reports...REUTERS: SoftBank (SFTBF) President Masayoshi Son said he will go to the U.S. today to meet Sprint Nextel’s (S) major shareholders about the Japanese company's takeover bid, after rival bidder Dish Network (DISH) said a U.S. company would make a better suitor., Reuters reports...Microsoft (MSFT) has sold 100M Windows 8 licenses in the six months since launch, but wants to combat sputtering interest in its flagship software with a substantial update to make it easier to use, and compatible with smaller tablets, Reuters reports...BLOOMBERG: Rio Tinto (RIO) will likely pursue a $5B expansion of its iron ore output in Australia, CEO Sam Walsh said, according to two people present at a meeting with investors and analysts, Bloomberg reports...Saudi Arabia, home to the biggest Arab bourse, seeks to boost institutional investments in its $390B stock market as the top OPEC producer weighs plans to allow foreigners to buy shares directly, Bloomberg reports. 06:01 EDT JPM Antero Resources, controlled by Warburg Pincus, plans IPO, Reuters reports Denver-based Oil and gas company Antero Resources, controlled by Warburg Pincus LLC, is preparing for an IPO that could value it at as much as $10B, sources say, reports Reuters. Antero hired Barclays (BCS), JP Morgan Chase (JPM) and Citigroup (C) to lead the deal, sources added. Reference Link 05:50 EDT JPM Mortgage lenders ease standards for 'prime' borrowers, WSJ reports Subscribe for More Information << 1 | 2 | 3 | all recent JPM news | >> Sign up for a free trial to see the rest of the stories you've been missing.