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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 »
The trustee seeking money for victims of Bernard Madoff’s scheme sued JP Morgan Chase & Co. for more than $6 billion on Thursday, claiming the bank enabled his massive fraud.
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JPMorgan Chase & Co.’s chief financial officer on Wednesday joined a growing chorus of industry executives calling for a speedy resolution of the probes into the industry’s foreclosure practices as a settlement may be on the horizon. Get the full story »
Amid growing public anger over U.S. home seizures, Bank of America Corp has suspended some of its foreclosures and JPMorgan Chase & Co has come under investigation in California and Connecticut. Get the full story »
By Greg Burns | Speaking in Chicago shortly after President Barack Obama called on leading bankers to get behind Democratic-led financial reform, Jamie Dimon, the chief executive of JPMorgan Chase & Co., said he’s 80 percent on board.
“It’s obvious we need to reform our financial system. JPMorgan has supported most of the things that came out,” said Dimon, as he accepted an award Thursday from the Executives’ Club of Chicago. “We agree with 80 percent. We might be right on the other 20 percent.”
