Mario Vargas Llosa on the End of the Incan Empire at the Americas Society
Vargas Llosa speaks about Barack Obama's Nobel Prize, the state of literature, inter-American relations and politics.
Vargas Llosa speaks about Barack Obama's Nobel Prize, the state of literature, inter-American relations and politics.
Fortune's Stanley Bing | Posted 10.14.2009 | Business
The Dow is about to go over 10,000 again. Won't that be nice? Yay for those cockeyed optimists! They make the world go 'round!
AP | STEPHEN BERNARD | Posted 10.14.2009 | Business
NEW YORK — JPMorgan Chase & Co. reported strong third-quarter earnings Wednesday as its thriving investment banking business more than offset rising loan losses that the bank warned would continue for the foreseeable future.
JPMorgan, the first of the big banks to report earnings for the July-September period, reported a $3.59 billion profit but also said it roughly doubled the amount of money it set aside for failed home and credit card loans in the quarter.
The bank's stock rose on the news, helping to lift the overall market and send the Dow Jones industrials above 10,000 for the first time in a year. Still, JPMorgan's performance shouldn't be taken as a forecast for how well other banks did during the quarter. Many financial companies don't have such big investment banking operations, which includes trading of stocks and bonds and allowed JPMorgan, the nation's largest bank by assets, to overcome its loan losses.
Bart Narter, a senior vice president at consulting firm Celent, said JPMorgan's results showed a clear trend that "Wall Street is picking up quite smartly, while Main Street continues to suffer."
Banks including JPMorgan have predicted for some time that their loan losses would keep rising. And in JPMorgan's earnings statement, CEO Jamie Dimon confirmed that this trend continues.
Raymond J. Learsy | Posted 10.14.2009 | Business
It is scandalous that those in government vested with the responsibility of financial oversight have permitted a culture of "heads they win, tails we lose" to take hold and to grow into a financial Frankenstein.
Michael Moore | Posted 10.21.2009 | Entertainment
Tonight, at the Venice Film Festival, I will premiere my new movie, "Capitalism: A Love Story." After 16 months of production, I am proud to present this work of mine to you. It is unlike anything you'll see this year.
Reuters | Posted 08.19.2009 | Business
U.S. President Barack Obama's chief of staff, Rahm Emanuel, has declined an invitation to attend a board meeting of JPMorgan Chase & Co, a White House...
AP | JIM KUHNHENN | Posted 08.05.2009 | Business
WASHINGTON — They are the biggest of the big _ the Citigroups, the Goldman Sachses, the AIGs and other financial behemoths. The Obama administra...
AP | DANIEL WAGNER | Posted 07.18.2009 | Business
WASHINGTON — A key government effort to ease the credit crisis reached a milestone Wednesday as 10 large banks said they had repaid a total of $...
AP | DANIEL WAGNER and SARA LEPRO | Posted 06.06.2009 | Business
WASHINGTON — Leaked results of the government's stress tests of 19 large banks are boosting investor confidence in the financial sector. America...
Washington Post | Binyamin Appelbaum | Posted 05.18.2009 | Business
ix months after Washington rescued Wall Street, exasperated banks insist they want to leave the lifeboat. ...
Financial Times | Francesco Guerrera and Krishna Guha | Posted 05.03.2009 | Business
US banks that have received government aid, including Citigroup, Goldman Sachs, Morgan Stanley and JPMorgan Chase, are considering buying toxic assets...
Bloomberg | Elizabeth Hester | Posted 04.11.2009 | Business
March 11 (Bloomberg) -- Jamie Dimon, chief executive officer of JPMorgan Chase & Co., said the U.S. can rescue its banking system by year-end if U.S. ...
Bloomberg | Matthew Leising and Elizabeth Hester | Posted 04.03.2009 | Business
March 3 (Bloomberg) -- JPMorgan Chase & Co. managed to generate $5 billion in profit during the worst year in Wall Street history by trading over-the-...
AP | ALAN ZIBEL | Posted 03.16.2009 | Business
WASHINGTON — The biggest players in the mortgage industry are halting home foreclosures while the Obama administration develops its plan to help...
Bloomberg | Linda Shen and Bradley Keoun | Posted 03.23.2009 | Business
Feb. 12 (Bloomberg) -- Bank of America Corp., JPMorgan Chase & Co. and Morgan Stanley may decide after enduring yesterday's Congressional hearing tha...
AP | MARCY GORDON, SARA LEPRO and MADLEN READ | Posted 10.26.2008 | Business
NEW YORK — JPMorgan Chase & Co. Inc. came to the rescue of Washington Mutual Inc. Thursday, buying the thrift's banking assets after WaMu was se...
John Tepper Marlin | Posted 07.26.2008 | Business
Phil Gramm designed the 1999 takedown of the Glass-Steagall Pillar. It's just too bad, if you support Obama, to see such a juicy target removed.
Reuters | Chris Reiter | Posted 04.02.2008 | Business
Employees at Bear Stearns Cos were hardly celebrating the day after JPMorgan Chase & Co raised its bid for Bear five-fold. Instead, resignation, bitt...
Silicon Alley Insider | Henry Blodget | Posted 04.02.2008 | Business
Read between the lines of the Bear Stearns-JP Morgan story and it seems clear that the parties who insisted on the original $2 deal price were not JP ...
ABC News | SCOTT MAYEROWITZ | Posted 04.02.2008 | Business
Wall Street investors couldn't applaud enough last week when the Federal Reserve rode in and rescued investment bank Bear Stearns from bankruptcy. Bu...
New York Post | ZACHERY KOUWE | Posted 04.02.2008 | Business
BlackRock boss Larry Fink may want to thank the Federal Reserve for handing him a fistful of new business yesterday. As part of JPMorgan's sweetened ...
New York Post | PAUL THARP and ZACHERY KOUWE | Posted 04.01.2008 | Business
From today's New York Post: Anger has reverberated all week throughout the gloomy Madison Avenue offices, where dethroned chief Jimmy Cayne has walke...
AP | JOE BEL BRUNO | Posted 04.01.2008 | Business
NEW YORK — JPMorgan Chase & Co.'s higher offer for Bear Stearns on Monday gave the investment bank control of nearly 40 percent of its ailing ri...
New York Times | ANDREW ROSS SORKIN | Posted 03.31.2008 | Business
JPMorgan Chase was in talks on Sunday night for a deal that would quintuple its offer for Bear Stearns, the beleaguered investment bank, in an effort ...
Reuters | Posted 03.31.2008 | Business
Bear Stearns Cos (BSC.N: Quote, Profile, Research) could fetch a higher takeover bid from JPMorgan Chase & Co (JPM.N: Quote, Profile, Research), and a...
Jim Luce | Posted 10.28.2009 | New York