JPMorgan Chase & Co

Morgan Stanley Will Pay $900 Million To Acquire Solium Capital Inc. The Deal Is The Bank’s Largest Acquisition Since The Financial Crisis

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.

J.P. Morgan: third-quarter profit jumped 24% as the bank’s consumer business helped it overcome weaker trading.

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.