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WEDNESDAY, NOVEMBER 25, 2009
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NEWS ABOUT: JPMorgan Chase

JPMorgan Chase stories: 159 news summaries

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Banks Scuttle SIV Bailout

BoA, Citi and JP Morgan drop subprime fix over lack of interest

Dec 21, 07 3:56 PM CST
(Newser) - The three banks charged by Treasury with setting up a fund to bail out investments threatened by the subprime mess are abandoning the project, the Wall Street Journal reports. Citigroup, Bank of America and JP Morgan Chase had been working since September on the plan to rescue structured investment vehicles,... More »

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Citigroup • Bank of America • subprime mortgages • SIVs • M LEC • JPMorgan Chase

Credit, Economy Bring
M&A Action to a Crawl

After a golden year for LBOs, experts see a chilling of a once-hot market

Dec 18, 07 11:40 AM CST
(Newser) - The slowing economy and financing costs that have more than doubled since June because of the subprime collapse could ice the pace of mergers and acquisitions in 2008, Bloomberg reports. After a record $3.9 trillion in deals in 2007, analysts predict transaction value could plummet 20%. "The mega-LBO... More »

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Bank of America • Goldman Sachs • subprime mortgages • mergers and acquisitions • LBOs • JPMorgan Chase

MARKETS

Stocks Inch Up After Fed Action

Bad news and lingering doubts about yesterday's cut keep rally tame

Dec 12, 07 3:29 PM CST
(Newser) - Stocks gained slightly after the Fed's decision to join four other central banks in pumping cash into the global financial system. Following yesterday's plunge of nearly 300 points after the Fed cut interest rates by only a quarter-point, the Dow gained 41.13 to close at 13,473.90. The... More »

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Federal Reserve • Dow Jones • Wachovia • Merrill Lynch • Nasdaq • S&P 500 • JPMorgan Chase

MARKETS

Stocks Fall on Credit Worries

JPMorgan says earnings will drop at big brokerages

Dec 4, 07 3:39 PM CST
(Newser) - Stocks fell again today after JPMorgan Chase predicted that profits would drop at big brokerages. Meanwhile, lower oil prices lowered earning prospects for energy companies, reports Bloomberg. "Until credit loosens up, you can't get a solid footing in the market," says a manager. The Dow was down 65.... More »

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stock market • Exxon • Chevron • Goldman Sachs • Federal Reserve • Morgan Stanley • Merrill Lynch • Lehman Brothers • JPMorgan Chase

Dow Dips Below 13K

Markets seesaw, close down

Nov 12, 07 3:38 PM CST
(Newser) - The Dow closed below 13,000 today after seesawing on bad news from the financial sector and falling oil prices. The Dow finished at 12,987.55, down 55.19, after E*Trade said further mortgage-related write-downs might come—and its shares dropped 56%. The Nasdaq slid 43.81 to close... More »

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Citigroup • Bank of America • Dow Jones • OPEC • mortgage • Nasdaq • E Trade • Blackstone • S&P 500 • JPMorgan Chase • financial crisis

Big Banks Settle on Superfund Terms

Paulson says fund will help, but analysts bearish on its prospects

Nov 11, 07 12:49 PM CST
(Newser) - The country’s top three banks have finalized agreements for the $75 billion superfund they hope will cushion further blows to the credit market, reports the NY Times. After nearly two months of haggling, Bank of America, Citigroup, and JPMorgan Chase agreed to simpler conditions than outlined in the... More »

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Citigroup • Bank of America • Henry Paulson • Treasury Department • mortgage backed securities • structured investment vehicles • superfund • auto loans • credit card loans • JPMorgan Chase

Banks to Form $100B Fund to Back Mortgage Securities

Critics say plan is unnecessary, only helps Citigroup

Oct 13, 07 6:37 PM CDT
(Newser) - Citigroup and other major banks are banding together to create a $100-billion fund to buy back shaky mortgage securities in order to contain the threat of their undermining the markets and hurting the economy. The unprecedented project, pooling money from banks like JP Morgan and Bank of America, has been... More »

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Citigroup • Bank of America • subprime mortgages • mortgage backed securities • superconduit • Master Liquidity Enhancement Conduit • structured investment vehicles • JPMorgan Chase

Tech Stocks Bring Market Down

Afternoon fall erased earlier gains
from Wal-Mart's rosy numbers

Oct 11, 07 4:03 PM CDT
(Newser) - After flirting with record highs earlier in the day, the markets were brought down to Earth this afternoon by falling tech stocks. The likes of Google, Yahoo, and Apple retreated after JPMorgan cut its third-quarter forecast for Chinese search engine Baidu.com. The S&P 500 dropped 8.06 to... More »

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stock market • tech stocks • Baidu.com • Wal-Mart • JPMorgan Chase

Sallie Mae Sues Spooked Suitors

Student-loan giant refuses to renegotiate $25B buyout deal

Oct 9, 07 5:45 AM CDT
(Newser) - College student lender Sallie Mae is suing a group of private equity firms and banks that are backing out of a $25-billion buyout deal. The group—J.C. Flowers & Company, Friedman Fleischer & Lowe, JP Morgan Chase and Bank of America—had set a deadline of today for negotiating... More »

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private equity • Sallie Mae • Bank of America • buyout • JC Flowers and Co • Friedman Fleischer and Lowe • Albert Lord • JPMorgan Chase

Stocks Down, Led by Financials

Financial and energy companies led the way

Sep 24, 07 3:44 PM CDT
(Newser) - The stock market took a dip today after an IMF report predicted that credit markets may not “normalize" soon and will slow global economic growth. Financial and energy companies helped pull the Dow down 61.13 points to 13,759.06. Citigroup, Bank of America and JPMorgan Chase all... More »

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Citigroup • Bank of America • Dow Jones • General Motors • ExxonMobil • IMF • Nasdaq • S&P 500 • JPMorgan Chase

Wall Street Up, Up, and Away for Holiday Weekend

Investors thank Bush, Bernanke for gains

Aug 31, 07 4:42 PM CDT
(Newser) - On the eve of the holiday weekend, the major markets jumped today, riding encouraging comments by President Bush and Ben Bernanke to broad advances that pushed their monthly gains above 1%. The Dow, which saw 28 of 30 stocks rise, finished up 119.01 points, closing at 13,357.74.... More »

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Ben Bernanke • Wall Street • Citigroup • Federal Reserve • Dow Jones • subprime mortgages • stocks • Nasdaq • interest rate • S&P 500 • JPMorgan Chase

Home Depot Deal Renovated

Price for wholesale unit slashed

Aug 27, 07 5:37 AM CDT
(Newser) - The sale of Home Depot's wholesale supply unit—threatened by the credit crisis —is going ahead after tense negotiations between Home Depot, private equity firms buying the company and banks providing the financing. Home Depot slashed its price 18% to $8.5 billion and guaranteed some of the loans... More »

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private equity • Bain Capital • LBOs • Merrill Lynch • Lehman Brothers • Home Depot • buyout • credit crisis • HD Supply • Clayton Dubilier and Rice • JPMorgan Chase

Banks Might Derail Home Depot Deal

Private equity threatens lawsuit as financing dries up

Aug 24, 07 7:10 AM CDT
(Newser) - The pending sale of part of Home Depot took an ugly turn last night as three banks and three private equity firms entered into a showdown over financing. Home Depot dropped its asking price by over $1 billion, but the banks involved—JPMorgan Chase, Lehman Brothers and Merrill Lynch—have... More »

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private equity • Carlyle Group • Bain Capital • Merrill Lynch • Lehman Brothers • Home Depot • buyout • credit crisis • JPMorgan Chase

Top Banks Borrow $2B From Fed

Bid to encourage other banks to borrow to shore up credit markets

Aug 23, 07 5:12 AM CDT
(Newser) - America's biggest banks—Citigroup, Bank of America, J.P.Morgan Chase and Wachovia— have borrowed a total of $2 billion from the Federal Reserve at the government's so-called discount window. It's an attempt to shore up the faltering credit markets by encouraging smaller banks to borrow from the Fed without... More »

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Citigroup • Bank of America • Federal Reserve • Wachovia • Deutsche Bank • Wells Fargo • bank • JPMorgan Chase

Shareholders
OK Tribune Takeover

But analysts say
Zell's bid should
be lowered

Aug 21, 07 1:41 PM CDT
(Newser) - The Tribune Co.’s shareholders approved Sam Zell's $8.2 billion takeover today, nudging the publisher one step closer to private ownership. But some analysts remain skeptical that the deal will go through as planned—the company’s declining profitability since the April announcement has triggered speculation that the... More »

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Chicago Cubs • Sam Zell • FCC • Chicago • Tribune Company • shareholders • privatization • acquisition • takeover • Los Angeles Times • JPMorgan Chase

Apple Toying With Mini iPhone

Analysts guess $300 scaled-down version of popular gadget in the works

Jul 10, 07 2:55 PM CDT
(Newser) - Apple will release a fewer-frills, cheaper counterpart to its wildly successful iPhone by the end of the year, a JP Morgan report claims. A Taiwan-based analyst cites an unnamed source in the supply chain and a patent application for a multifunctional handheld device with a circular touch pad, which Apple... More »

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music • cell phones • iPhone • Taiwan • Apple • iPod • mp3 • iPod Nano • gadget • JPMorgan Chase

JPMorgan Heads for Ground Zero

Bank gets $100M in incentives to build new skyscraper on WTC site

Jun 14, 07 9:05 AM CDT
(Newser) - JPMorgan Chase has agreed to a $300 million dollar deal to develop and lease one of the five skyscrapers planned for the World Trade Center site, giving a big boost to the development effort at Ground Zero. The financial services giant's investment banking and trading divisions will migrate to the... More »

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Ground Zero • World Trade Center • Lower Manhattan • Eliot Spitzer • skyscraper • James Dimon • JPMorgan Chase

Dow Powers to Record High

Apr 19, 07 7:08 AM CDT
(Newser) - The Dow rose 30.80 points yesterday, closing above 12800 for the first time. The new record was powered was by JP Morgan Chase, Boeing and Caterpillar, while nearly two-thirds of the Dow components failed to make gains, the Wall Street Journal reports. Tech stocks continued to be weak; the... More »

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investing • stock market • Boeing • Dow Jones • business • stocks • JPMorgan Chase

Loan Giant Sallie Mae Goes Private

Nation's largest student lender is
sold for $25 billion

Apr 17, 07 8:37 AM CDT
(Newser) - A group of investors is buying student lending giant Sally Mae for $25 billion, even as Capitol Hill debates reducing federal subsidies for student loans. The company—which began as a quasi-public agency—will be taken private by Bank of America, JPMorganChase, and private equity houses J. C. Flowers and... More »

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private equity • Sallie Mae • student loans • Bank of America • J. C. Flowers • business • finance • shares • Friedman Fleischer and Lowe • JPMorgan Chase

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