Ex-JPMorgan Chase Trader Pleads Guilty for Multi-Year Metals Trade Fraud
An ex-JPMorgan Chase (NYSE:JPM) trader has admitted to manipulating the US precious metals market for a number of years. JPMorgan Chase Metals Trade Fraud John Edmonds, 36, pleaded guilty to only one count of commodities ... [Read]
AMP Scandal: Caught Charging People for Life Insurance After They Died
Another AMP scandal has come to light. It’s been revealed that AMP—Australia’s largest wealth manager—charged $1.3 million in life insurance premiums to more than 4,500 deceased individuals… after they died. The company has failed to ... [Read]
JP Morgan Ready To Unveil Free New Investing App
In the busy world of retail investing, it can be difficult to attract attention. However, a new JP Morgan investing app will surely turn a few heads. JP Morgan Investing App The multinational investment bank and ... [Read]
Bank of America Tops Estimates, Raises Dividend by 25%
Bank of America’s (NYSE:BAC) strategy of enhancing its operational efficiencies and reducing its cost structure has helped it in making significant earnings growth; it has been generating substantial growth across all business segments. Bank of America tops ... [Read]
Financial Sector Sell-off Paused After Big Banks Raised Cash Returns
Although the financial sector has been lagging behind in the S&P 500 index, banking stocks continue to create value for shareholders. Several big banks, including Wells Fargo (NYSE:WFC), American Express (NYSE:AXP) and JPMorgan (NYSE:JPC), has ... [Read]
Wells Fargo will Buy Back $24.5 Billion in Stock after Passing Fed Test
Wells Fargo Passes Fed Test: Wells Fargo (NYSE:WFC) has announced that it will buy back nearly $24.5 billion of stock after the bank passed the Federal Reserves stress tests. The results of the Federal Reserve ... [Read]
Spanish Bank CEO Says Blockchain has ‘Huge Promise’ for Financial Industry
Blockchain could have a “huge promise” for the banking and financial industry, according to the CEO of the Spanish bank BBVA (NYSE:BBVA), Carlos Torres Vila. The future of blockchain could influence many different industries, including car ... [Read]
Customers of BMO and Simplii Financial Fall Victim to Fraudsters
On Sunday and Monday, customers of both BMO and Simplii Financial were alerted by an uneasy notification. Specifically, Bank of Montreal and Simplii Financial, which is CIBC’s direct banking line, announced on Sunday and Monday ... [Read]
US Tax Reforms Impacting Businesses’ Foreign Earnings
The Goldman Sachs Group Inc. (NYSE:GS) has said that it will be having $5 billion profit cut thanks to Trump’s new tax reforms for businesses. The company says that this is due to a new ... [Read]
New York Fed Bank President William Dudley to Announce Retirement Next Week
Late Saturday night – 10:58 p.m. EDT to be exact – CNBC reported that William Dudley, the New York Federal Reserve Bank President, will be announcing his retirement as soon as next week. This is ... [Read]