Wells Fargo Eyes Insurance Sales Acquisitions
Wells Fargo & Co, after a respite from acquisitions following its 2008 purchase of Wachovia Corp, is interested in buying insurance sales businesses, its chief executive said Thursday.
Dimon to Appear Before Senate Panel June 13
JPMorgan Chase and Co Chief Executive Officer Jamie Dimon will testify before the U.S. Senate Banking Committee on June 13 to discuss the bank's recent trading losses, the committee said on Thursday.
CGI To Acquire Logica
The Canadian IT services firm will spend $1.7 billion British Pounds on the acquisition.
Oracle Announces Flexcube 12.0
The core banking solution includes features that enable banks to deliver more personalized and convenient service to customers across all channels
PayPal Strikes Deals With 15 Retailers
PayPal has made deals with 15 retailers including Toys R Us, J C Penney and Barnes & Noble that will allow consumers to pay for purchases with their cellphones while expanding the online payment company's service into additional physical stores.
U.S. Bank Industry Posts Highest Earnings Since 2007
The U.S. banking industry for the first quarter reported its highest quarterly earnings since the first half of 2007, but there remain signs that the industry is having trouble fully recovering from the financial crisis, according to data released on Thursday by the Federal Deposit Insurance Corp.
The Tao of Dimon: JPMorgan Chase CEO Jamie Dimon's Most Memorable Quotes
Jamie Dimon is one of the most successful, well-known and outspoken bank executives around. The JPMorgan Chase and former Bank One CEO is known not only for his executive prowess, but also his colorful quotes. Whether the subject is regulation, mortgages, the role of government in the financial system or any number of other topics, Dimon has provided financial reporters with many colorful quotes throughout the years. Here are some of his most memorable.
SAP's Ariba Buy Opens New Front in Oracle Rivalry
Software company SAP AG's deal to buy Ariba Inc opens a new front in its battle with Oracle for the internet-based cloud
computing market, raising the possibility of a counterbid from its arch rival.
SEC Looking at JPMorgan Financial Reporting
The U.S. Securities and
Exchange Commission will look into the "appropriateness and
completeness" of JPMorgan Chase & Co's financial
reporting, SE C Chairman Mary Schapiro told the Senate Banking
Committee on Tuesday.
JPMorgan Suspends Buybacks While Reducing Bad Trades
JPMorgan Chase & Co Chief Executive Officer Jamie Dimon said on Monday that the bank had suspended repurchases of its stock, but is maintaining its dividend, while working down losing trades in credit derivatives.
HP Layoffs Signal Punishing Fall
Unless HP can turn enterprise software, cloud services, or some other line into a high-volume, high-margin business, it's in for a world of hurt.
Banks' Rising Bad Loans Add to Spanish Troubles
Spanish bank bad loans rose in March to their highest in 18 years, figures from the Bank of Spain showed on Friday, underscoring the problems facing the government as it attempts to clean up the sector and get its economy back on track.
U.S. Senate Banking Committee to Ask Dimon to Testify
JPMorgan Chase & Co Chief Executive Jamie Dimon will be invited to testify before Congress over the recent trading losses announced by the bank, U.S. Senate Banking Committee Chairman Tim Johnson said in a statement on Thursday.
Fitch Says Top 29 Banks May Need $556 Billion
The world's top 29 banks may need a total $556 billion to meet tougher new capital rules, cutting returns by a fifth and forcing them to curb investor payouts and raise customer charges, Fitch Ratings said on Thursday.
HSBC Doubles Turnaround Target to $2 Billion
HSBC doubled the annual revenue boost expected from its turnaround plan to $2 billion, as Europe's biggest bank picks 22 markets to drive its growth and eyes more cost cutting to cope with new regulations in the wake of the financial crisis.
Shareholders Sue JPMorgan Chase Over Trading Loss
JPMorgan Chase & Co was the target of two separate lawsuits by shareholders on Wednesday, accusing the bank and its management of excessive risk that led to trading losses of at least $2 billion.
Yahoo CEO Out, Investor Loeb Gets Board Seats
Yahoo Inc is
replacing its CEO for the third time in as many years, and
giving three board seats to a hedge fund led by Daniel Loeb,
putting him in a strong position to influence strategy at the
struggling Internet company.
JPMorgan Investment Chief Drew Quits After Trading Loss
JPMorgan Chase & Co
sacrificed investment chief Ina Drew on Monday in
response to trading losses that could reach $3 billion or more
and which have tainted the reputation of the bank's high profile
chief executive Jamie Dimon.