Solium’s 3,000 corporate clients employ 1 million workers and include startups such as Stripe Inc. and Instacart Inc., whose employees tend to be younger and have fewer relationships with traditional financial firms. Morgan Stanley said the acquisition wouldn’t have a meaningful impact on its 2019 earnings or reduce its planned stock buybacks.
The iShares Nasdaq Biotech Index gained 13 percent in the first eight trading days of the year, finishing lower just one day since the market selloff on Christmas eve. It marks a major reversal following 20-percent plunge in the index in the fourth quarter.
JPMorgan improperly provided American depositary receipts for foreign shares that weren’t in the bank’s custody, which led the bank to inflate the number of a foreign company’s tradable shares, the Securities and Exchange Commission said Wednesday.
Although the stock market rallied on Powell’s statement and bond yields fell, some economists believe the markets misinterpreted the Fed’s message
According to the settlement agreement, Citigroup and JPMorgan denied wrongdoing, and settled to avoid the cost and distraction of litigation. Several banks remain defendants.
StockMarketNews.Today – Overall profit at the corporate and investment bank was $2.62 billion, a 3% increase from $2.55 billion in the same period last year. JPMorgan’s commercial bank earned $1.09 billion, a 24% increase from the $881 million it earned in the year-ago quarter, and the bank’s asset and wealth management unit reported profits of $724 million, compared with $674 million in the third quarter of 2017.
StockMarketNews.Today – JPMorgan Chase Laying Off About 400 Mortgage Employees
Chase, one of the biggest home lenders, is cutting employees in Florida, Ohio, Arizona.