Twitter has no plan to go public in the near future and does not need additional funds because it is making money, the co-founder of the popular microblogging site said. Biz Stone also dismissed reports JPMorgan Chase & Co. was in talks to buy 10 percent of Twitter for $450 million, which would have valued the company at $4.5 billion. Get the full story »
JPMorgan Chase
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JPMorgan suit says Lehman left it with ‘goat poo’
Lehman Brothers and Barclays deceived JPMorgan Chase & Co. with bad assets that the failed investment bank’s own employees dubbed “goat poo,” according to new court papers that escalate a legal battle between the financial firms.
JPMorgan filed new court claims in the case, contending that Lehman left it with $25 billion in unpaid loans secured by undesirable such as those left out of the sale to Barclays. Get the full story »
JPMorgan CEO Jamie Dimon gets $17M bonus
J.P. Morgan Chase & Co. Chief Executive Jamie Dimon received a 2010 equity bonus worth $17 million, the biggest bonus for a big name Wall Streeter so far this year. Though the equity bonus is similar to the prior year’s award, it still tops those so far given out to Dimon’s banking peers. Get the full story »
JPMorgan plans to start media fund
JPMorgan is planning on starting a fund of between $500 million and $750 million to invest in internet and digital media companies, the Wall Street Journal said on Sunday.
The paper said that marketing materials were sent to prospective investors about two weeks ago.
The reported move comes as interest in social networking sites is increasing. Investor interest and valuations are surging for privately-held Web companies like Facebook, Zynga and Groupon. Get the full story »
Jamie Dimon wants some R-E-S-P-E-C-T
JPMorgan Chase CEO Jamie Dimon in Davos. (AP)
What’s eating Jamie Dimon? At last week’s World Economic Forum in Davos, Switzerland, the JPMorgan Chase chief executive once again lambasted the media and politicians for portraying all bankers as greedy evil-doers.
It was at least the 12th time since the start of the financial crisis that Dimon has complained about Wall Street critics painting all bankers as cut from the same cloth. But the timing of his latest outburst seemed odd. Get the full story »
Madoff trustee: JPMorgan warned of scheme
Top executives at JPMorgan Chase & Co. got blunt warnings about speculation that Bernard Madoff was running a Ponzi scheme but appear to have been concerned only with protecting the bank’s investments, the trustee seeking to recoup $6.4 billion for Madoff investors said. Get the full story »
Jan. 24 at 12:43 p.m.
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Filed under: Bankruptcy, Litigation, Media, Newspapers, Radio, TV Tribune creditors seek information on buyout
Attorneys for creditors who oppose the Tribune Co.’s proposed reorganization plan are seeking more information related to the 2007 leveraged buyout that left the media conglomerate saddled with debt. Get the full story »
Top court backs JPMorgan Chase fee hikes
The Supreme Court ruled Monday that JPMorgan Chase & Co under an old federal regulation did not have to provide written notice before raising credit card interest rates to account holders who defaulted on a payment. Get the full story »
JPMorgan quarterly profit jumps to nearly $5B
JPMorgan Chase & Co reported fourth-quarter earnings jumped, helped by narrowing losses on bad loans.
The bank said earnings climbed to $4.8 billion, or $1.12 a share, from $3.3 billion, or 74 cents a share, a year earlier. Analysts on average expected a profit of $1 a share, according to Thomson Reuters I/B/E/S. Get the full story »
JPMorgan: Rising food prices are fueling inflation
Rising food prices are stoking global inflation with many agricultural commodity markets on the rise, driven by adverse weather in key producing countries, a senior trader at JPMorgan said on Monday. Get the full story »
Chase hiking fees on more services
(Heather Stone/Chicago Tribune)
Chase, Chicago’s biggest bank in terms of branches and deposit market share, is making it more expensive to stop payment on a check, do wire transfers and use a foreign ATM, among other things.
Chase is also telling its checking and savings customers that starting on Feb. 5, it’ll hike several other fees.
The bank recently instituted a minimum direct deposit threshold to maintain free checking if customers don’t meet certain other criteria. Get the full story »
JPMorgan to buy majority stake in Aqua
From Crain’s Chicago Business | JPMorgan Asset Management has agreed to invest about $182 million in the apartments in the 82-story Aqua tower, the biggest local multifamily deal in more than three years.
Ex-WaMu customers face Chase service fees
Chase, Chicago’s biggest bank, is telling customers who were charged no monthly service fees at Washington Mutual that they could face a $12 monthly service fee unless their accounts meet one of four conditions.
It’s one of several changes that Chase and other banks are making to their basic checking accounts in light of a federal crackdown on the types and amounts of fees that lenders can charge, including a dramatic reduction in fees that merchants pay banks when customers make purchases with their debit cards.
As previously reported, Chase recently disclosed that beginning Feb. 8, its “Chase Checking” customers will need at least one direct deposit of $500 a month for Chase to waive its $6 monthly service fee, or make at least five debit card purchases during the transaction period. Currently, a direct deposit of any amount qualifies. Get the full story »
