JP Morgan
GE and Target in reverse
An annualised income of 16.2% and 16.8% is on offer from JP Morgan-issued reverse convertibles linked to General Electric and Target Corp shares, respectively. Principal is not protected if a 50% barrier is breached
CD wrapping
JP Morgan is offering a three-year growth product linked to the S&P 500 index with principal protection in a CD wrapper. Participation goes up to a 145% knock-out level
Banks cut staff in Europe and US
More European and US banks joined the growing list of institutions to cut staff in the wake of the financial crisis.
FDIC reports rise in problem banks
There are now 171 banks on the US Federal Deposit Insurance Corporation (FDIC)'s 'problem list', the largest number since 1995, the FDIC revealed yesterday.
Eurozone and US bank CDS spreads widen
UK and European financial institutions faced declining market sentiment in early trading today, while the cost of credit protection on US banks continued to rise.
JP Morgan closes prop positioning unit
JP Morgan is closing its proprietary positioning unit, entailing significant job losses among its 80-strong staff.
Greater China plus Singapore
JP Morgan is offering Asia confidence notes in Singapore and US dollars in the form of a two-and-a-half year product that links into four equity indexes, in China, Hong Kong, Singapore and Taiwan
JP Morgan and Wells Fargo profits tumble in Q3
Battered by further losses in their mortgage-related positions, JP Morgan and Wells Fargo saw third-quarter profit declines of 84% and 25% respectively today.
CDS spreads widen despite bailout approval
Credit default swaps (CDSs) on a number of major dealers widened yesterday in spite of the US Senate vote on a revised $700 billion financial rescue plan.
CDS spreads tighten as bailout is revised
The cost of protection on some of the world’s largest financial institutions fell yesterday as the US Senate agreed to vote on a revised version of the $700 billion financial rescue plan.
CDS spreads push out as bailout drags on
The cost of protection on some of the world’s largest dealers surged on Friday as uncertainty grew over the US government’s $700 billion plan to purchase devalued assets from financial institutions.
JP Morgan acquires Washington Mutual
JP Morgan has stepped in to acquire Washington Mutual for $1.9 billion, after the Seattle-based bank was closed by US regulators on Thursday evening.
JP Morgan launches mobile forex platform
A new proprietary e-trading platform that allows clients to access real-time executable streaming foreign exchange rates (forex) from their desktops and Blackberry devices was launched on Wednesday by JP Morgan.
Lehman Brothers files for bankruptcy protection
Lehman Brothers has filed for bankruptcy. In an announcement early this morning, the firm said it intended to file a petition under Chapter 11 with the Southern District Court of New York.
Easy returns in either direction - Product review
JP Morgan has released a one-year straddle product based on four Asian indexes that offers 200% participation on the upside and 100% on the downside, subject to maximum returns of 17.2% and 10%, in addition to principal
JP Morgan’s King of securitisation departs
Bill King, JP Morgan’s global co-head of securitised products, is leaving the bank.
Ex-Bear staff leave JP Morgan only two months into their jobs
Jeff Mayer and Craig Overlander are departing JP Morgan after being appointed to senior positions at the bank in early April.
JP Morgan launches placement programme for Bear Stearns staff
JP Morgan has launched a programme to place thousands of the Bear Stearns employees that are to be made redundant after its takeover of the rival bank.
