banks

The market and the economy are out of sync, and that was a recipe for success at Morgan Stanley. The Wall Street giant’s chief James Gorman delivered a blowout quarter to investors on Thursday, riding an unprecedented market rally in the second quarter even as the US economy got slammed with record unemployment and business …

Tyra Banks is ballroom-bound. The 46-year-old supermodel and businesswoman has been tapped as the new host of ABC’s “Dancing with the Stars,” the series announced on Twitter, following the departures of hosts Tom Bergeron and Erin Andrews. “I’ve been a fan of ‘DWTS’ since its beginning … The fun mixed with raw emotion, seeing celebrities …

The wheels are coming off The Stagecoach. Wells Fargo swung to a big loss in the second quarter, forcing it to set aside billions of dollars to cover possible loan losses ahead as the coronavirus threw a wrench into its efforts to recover from a slew of scandals. The third-biggest US lender posted a net …

JPMorgan Chase’s second quarter earnings beat analyst expectations, but its profits plunged 51 percent as the coronavirus pandemic weighed on big banks. The mega-bank on Tuesday reported net income of nearly $4.7 billion from April through June, down from about $9.6 billion in the same period last year. Its earnings per share of $1.38 were …

JPMorgan Chase’s closest local rival in the race to lend out US coronavirus loans wasn’t Citigroup or BNY Mellon — it was a tiny, tech-savvy lender based in New Jersey. Jamie Dimon’s megabank handed out nearly $29 billion of government money to small businesses during the throes of the pandemic shutdown — the most of …

This year 100-year-old World War II veteran who helped defeat fascism only to endure harsh segregation at home has just won a battle against a new foe – his bank. The JP Morgan Chase bank on Friday agreed to drop its foreclosure case against centenarian James Been over a disputed $100,000 home equity loan issued …

The Federal Reserve is making life a little harder for Jamie Dimon and his fellow big bankers until it gets more clarity on just how painful the coronavirus pandemic will be for the American economy. On Thursday, the Fed unleashed a series of restrictions on bank operations over the next few months, including a hard …

US bank profits fell by 69.6 percent, to $18.5 billion, in the first quarter of 2020 from the year prior as banks felt the economic impact of the novel coronavirus pandemic, according to data from a banking regulator. The Federal Deposit Insurance Corp. reported that “deteriorating economic activity” caused lenders to write off delinquent debt …

Goldman Sachs said on Wednesday it had launched a $10 million fund to support the work of organizations addressing racial injustice, structural inequity and economic disparity. The bank will match employee donations to recipient organizations, it told customers of its online bank, Marcus. An e-mail by a Goldman employee about his experiences of racial injustice …

Jamie Dimon’s first public sighting since he underwent heart surgery three months ago has resulted in a photo of him kneeling at a local Chase branch — sparking questions about whether he was “taking a knee” in solidarity with widespread racial justice protests. The 63-year-old CEO of JPMorgan Chase underwent emergency heart surgery on March …