JAMIE DIMON

Most Americans have missed out on the asset-price boom created by the policy response to the pandemic. Not so the big banks.

Three of the nation’s biggest banks reported blowout profits for 2021 on Friday, helped by the improving economy and consumers and businesses willing to spend and take on loans.

Analysts have pointed to a lending rebound in the fourth quarter, driven by demand from corporations and credit card borrowers.

CEO Jamie Dimon said employees must be vaccinated to work in JPMorgan Chase's HQ after Citi said it will fire holdouts.

CEO Jamie Dimon said employees must be vaccinated to work in JPMorgan Chase's HQ after Citi said it will fire holdouts.

JP Morgan CEO Jamie Dimon speaks at the Boston College Chief Executives Club luncheon in Boston, Massachusetts, U.S., November 23, 2021. Jamie Dimon said the U.S. is headed for the best economic growth in decades. "We're going to have the best growth we've ever had this year, I think since maybe sometime after the Great Depression," Dimon told CNBC's Bertha Coombs during the 40th Annual J.P. Morgan Healthcare Conference. Dimon said the growth will come even as the Fed raises rates possibly more than investors expect. Goldman Sachs predicted four rate hikes this year and Dimon said he would be surprised if the central bank only raises four times.

"It's never right to joke about or denigrate any group of people," JPMorgan Chase CEO said in a statement.

Whether you love cryptocurrencies or hate the very idea of them, they’re becoming more mainstream by the day.

The British government is set to announce that it has secured £9.7 billion ($13.4 billion) of new foreign investment.

As investment banking and trading normalizes at the bank, investors are going to want to see better deployment of the deposits it has attracted during the pandemic.

The consumer price index was expected to rise 0.3% in September and 5.3% on a year over year basis, according to economists surveyed by Dow Jones.

These are the stocks posting the largest moves before the bell.

JPMorgan Chase says profits rose 24% in the third quarter, largely driven by one-time items that boosted its results, as the bank struggled to grow revenues with interest rates at near-zero levels.

JPMorgan Chase is the first big bank to report third-quarter earnings.

The pandemic has laid bare how interconnected global supply systems are.

JPMorgan Chase's CEO said his daughter asked 'how could you, Dad?' when he joined Donald Trump's business council. He cited Martin Luther King.

Jamie Dimon, JPMorgan Chase chairman and CEO, remains a skeptic of bitcoin, the largest cryptocurrency by market value.

It's been a tempestuous week in Washington, with insults and accusations flying, deadlines pressing and some major things to get done.

Jamie Dimon said that if the U.S. continues to see inflation running hot over the next few months then the central bank could be forced to act quickly.

JPMorgan has been acquiring start-ups at a steady clip since CEO Jamie Dimon declared last year that he would be "much more aggressive" in searching for deals.

“Greenwashing” is too kind a term; this is more like careful sabotage.

George Floyd’s murder prompted unprecedented corporate giving towards racial justice causes. Most of the money went towards reducing the racial wealth gap, with only a fraction targeting police reform, the cause that sent millions of Americans into the streets last summer

The moves, on the heels of similar steps from Morgan Stanley and Goldman Sachs, makes it clear that Wall Street's reluctance to deal with crypto is over.

"This special award reflects the board's desire for Mr. Dimon to continue to lead the firm for a further significant number of years," the bank said in a regulatory filing.

The award to Jamie Dimon is to persuade him to lead the company for a "significant number of years".

JPMorgan Chase is the first major lender to report second-quarter earnings.

Some corporate leaders have proposed cutting people's pay if they choose to work from home. Big mistake, experts say.

Some corporate leaders have proposed cutting people's pay if they choose to work from home. Big mistake, experts say.

The move will help JPMorgan's financial advisors customize clients' investments in ESG, the category that includes environmental, social and governance factors.

JPMorgan is taking a more gradual approach to vaccine enforcement than smaller rival Morgan Stanley.

Wall Street’s big investment banks are sending a message to their employees this summer: Get back into the office and bring your vaccination card.

US bank JP Morgan Chase will instruct US staff to register their vaccine status online this week.

Nutmeg is one of the U.K.'s biggest robo-advisors, with assets under management of over £3.5 billion.

Morgan Stanley's chief executive said New York-based employees should be ready to return to the workplace.

Dimon waded into the debate on whether higher inflation is a result of temporary aspects of the reopening or if it could be more lasting.

Most of the women running the biggest U.S. companies saw their pay increase last year, even as the pandemic hammered the economy and many of their businesses.

Free food, once a perk more common at tech giants like Alphabet and Facebook, is one of the tools in getting workers to embrace office life again.

JPMorgan CEO Jamie Dimon has doubts over President Joe Biden's goal to persuade other countries to adopt a global minimum corporate tax.

The bosses of the nation's largest banks return to Capitol Hill, where they will face another round of grilling from lawmakers.

Bank bosses were grilled by US lawmakers over worker pay and overdraft fees during the pandemic.

Dimon and the CEOs of five of the nation's biggest banks testified before the Senate Banking Committee.

The CEOs of the six biggest U.S. banks have appeared before Congress, eager to lay out their support for struggling consumers and small businesses.

JPMorgan Chase will take another crack at fixing health care after a push with two other corporate giants dissolved earlier this year.

The changes atop Morgan Stanley come days after JPMorgan Chase set up potential successors to CEO Jamie Dimon.

The American healthcare system has proven to be a difficult nut to crack. The unit's predecessor Haven folded with little to show in terms of concrete results.

JPMorgan Chase will promote two women to jointly manage the bank’s consumer finance division, potentially signaling that a woman may eventually run the nation’s biggest bank.

The move shores up the succession planning for CEO Jamie Dimon, which has been a priority of the board as he is 65 years old.

JPMorgan CEO Jamie Dimon shared his advice to grads: "How you deal with failure may be most important in whether you succeed," he said.

The move follows the departures announced last year of technology giants including Oracle, Palantir and Hewlett-Packard Enterprise

Experts say home vs. office could lead to two classes of workers, with the couch-to-cubicle transition penalizing remote employees.

Vice President Kamala Harris is taking on a leading role as an ambassador to small businesses, particularly in underrepresented communities.

Goldman Sachs CEO David Solomon told U.S. workers on Tuesday that the bank will require them to return to the office by June 14.

While remote work has been crucial for Wall Street during the pandemic, CEOs including Dimon and Goldman Sachs' David Solomon have expressed dissatisfaction.

The move illustrates the ways in which traditional banks are competing with and enabling the new guard of fintech players like Robinhood.

Cushman & Wakefield CEO Brett White told CNBC he believes demand for office space will recover in two to three years as the global economy recovers from Covid.

JPMorgan Chase CEO Jamie Dimon weighs in on the guilty verdict for the murder of George Floyd.

JPMorgan will invest trillions over the next decade in long-term solutions tackling climate action and social equality.

Many Americans have received three rounds of stimulus checks and enhanced unemployment benefits since the pandemic began, helping forestall a wave of defaults.

JPMorgan Chase saw its first quarter profits jump nearly five fold from a year earlier, as the improving economy allowed the bank to release roughly $5 billion from its loan-loss reserves that it had stored away in the early weeks of the pandemic.

JPMorgan posted first-quarter profit of $4.50 a share, much higher than the $3.10 per share expected by analysts surveyed by Refinitiv.

The nation’s largest banks are expected to report big profits for the first quarter amid renewed confidence that pandemic-battered consumers and businesses can repay their debts and start borrowing again.

(AP Photo/Mark Lennihan)CHARLOTTE, N.C. – The pandemic and recession aren’t over by a long shot, but banks are feeling optimistic enough to start taking potentially “bad” loans off their books and move them back into the “good” pile. Citigroup had a similar story, releasing $1.5 billion of its loan-loss reserves that it had set aside earlier last year. Still, those amounts are just a fraction of the tens of billions of dollars into their so-called loan-loss reserves to cover potentially bad loans in the first months of the pandemic. In releasing funds from loan-loss reserves, the banks cited the improvement in the economy. JPMorgan still has more than $30 billion tied up in its loan-loss reserves, and banks like Citi and Wells have similar figures on their balance sheets.

JPMorgan Chase & Co., the nations largest bank by assets, said its fourth quarter profits jumped by 42% from a year earlier, as the firms investment bank division had a stellar quarter and the banks balance sheet improved despite the pandemic. Excluding one-time items, the bank earned $3.07 a share, which is well above the $2.62 per share forecast analysts had for the bank. Banks had set aside tens of billions of dollars to cover potentially bad loans, and JPMorgan had been particularly aggressive in setting aside funds early in the pandemic. The driver of JPMorgan's profits this quarter was the investment banking business. The corporate and investment bank posted a profit of $5.35 billion compared with $2.94 billion in the same period a year earlier.

A health care venture created in 2018 by the three corporate giants to attack soaring care costs will shutter only a couple years after launching. (AP Photos, File)INDIANAPOLIS – A health care venture conceived by Amazon, Berkshire Hathaway and JPMorgan to attack soaring costs is dissolving. Haven, which was formed in 2018 by the three U.S. corporate giants, will cease operations by the end of February, a company spokeswoman said Monday. Health care costs have grown faster than wages and inflation for years, stressing families and employers. It started new designs for health care benefits that eliminated patient out-of-pocket payments like deductibles and coinsurance and encouraged access to primary care.

In the early months of the U.S. pandemic, banks set aside tens of billions of dollars to cover losses that could come from loans that were suddenly going bad. On top of the stimulus, banks entered into this pandemic the healthiest they’ve been in years and certainly healthier than they were before the financial crisis of 2008. JPMorgan set aside $611 million to cover potentially bad loans in the third quarter, a fraction of the $10.47 billion the bank set aside to cover bad loans in the second quarter. On Wednesday, Bank of America said it set aside $1.4 billion to cover potentially bad loans, far less than the $5.1 billion it set aside three months earlier. Most of the worry seems to reflect investors' uncertainty about whether banks will have to set aside additional billions in the future.

Both Citi and JPMorgan set aside fewer funds to cover potentially bad loans, contributing to the improvement in their third-quarter results. JPMorgan had $611 million in loan loss provisions this quarter, a fraction of the $10.47 billion the bank set aside in the second quarter. Meanwhile Citigroup’s provision for credit losses was $2.26 billion in the third quarter compared to $7.9 billion the quarter before. Citi said its third-quarter net income fell to $3.23 billion from $4.91 billion a year earlier. JPMorgan and Citi were the first of the major banks to report its results this week.

CHARLOTTE, N.C. – JPMorgan Chase said Thursday it will extend billions in loans to Black and Latino homebuyers and small business owners in an expanded effort toward fixing what the bank calls “systemic racism” in the country’s economic system. “Systemic racism is a tragic part of America’s history,” said JPMorgan Chase CEO Jamie Dimon in a statement. Citigroup announced last month it is committing $1 billion toward closing “the racial wealth gap” in the United States, including $550 million toward homeownership programs for racial minorities. He noted that there’s a 30% gap between Black and white homeownership, amounting to about 4.5 million households. JPMorgan was one of 27 major New York-based companies that joined a program to recruit 100,000 workers from the city's low-income, predominately Black, Latino and Asian communities over the next 10 years.

NEW YORK Citigroup announced that Jane Fraser would succeed Michael Corbat as the bank's next chief executive, making Fraser the first woman to ever lead a Wall Street bank. Fraser is currently head of Citi's global consumer banking division, a major part of the bank that includes checking and savings accounts but also Citi's massive credit card business. Fraser will be the first woman to lead one of Wall Street's big six banks. JPMorgan Chase's Jamie Dimon has had women as his second-in-command for years, but shows no signs of stepping down from the CEO role. Corbat turned Citi into a much smaller and stable entity, focusing on its credit card businesses and its international banking franchise.

Thanks largely to the funds set aside for bad loans, JPMorgan's profit fell by half in the April-June quarter, Citigroup's sank about 70% and Wells Fargo reported its first quarterly loss since the financial crisis of 2008. In its second-quarter results, JPMorgan said it set aside $10.5 billion to cover potentially bad loans. Thats on top of the $8.3 billion the bank set aside in April, when the pandemic was only just starting to impact the U.S. economy. Citi, which is heavily exposed in credit cards, set aside an additional $7.9 billion to cover potentially bad loans. Wells Fargo, which did not set aside as much money as its peers in April, had to play catch up this quarter, setting aside $8.4 billion to cover potentially bad loans.

Blockbuster earnings from the likes of JPMorgan Chase and UnitedHealth sent the Dow climbing more than 250 points, or roughly 1%, in afternoon trading. After weeks of trying to decipher the latest developments in the trade war, the start of earnings season has allowed investors to refocus on the fundamentals. The IMF on Tuesday cut its 2019 global growth forecast, calling for the weakest pace since the financial crisis. However, the big banks on the front lines of America's economy reported mostly upbeat results on Tuesday. The Wall Street firm was hurt by slowdowns in M&A and the trouble in the IPO market.

JPMorgan confirmed Tuesday that it had the winning bid for 2% of China International Fund Management, a joint venture between the bank and its local partner. The price values the entire venture at 12 billion yuan ($1.7 billion), one third higher than an earlier valuation of 9 billion yuan ($1.3 billion), according to the exchange filing. JPMorgan has already received Chinese approval to run a separate securities joint venture. Foreign banks have geared up the process of controlling their Chinese joint ventures, after Beijing said it would eventually allow majority foreign ownership of domestic companies. Last week, Morgan Stanley signed a contract with its Chinese partner to buy enough of their joint venture in order to gain a 51% controlling stake.