JPMorgan, Goldman Beat Estimates: Q2 Earnings
Bond trading revenue fell at both banks, though less than expected, but CEO Jamie Dimon's health issues overshadowed JPMorgan's results.
Retirees Suffer as 401(k) Rollover Boom Enriches Brokers
A three-month Bloomberg investigation found that former employees at major companies say sales reps lured them into rolling their 401(k)s into unsuitable investments.
World Economy Stabilizes in ‘Great Moderation 2.0’: JPMorgan
Low market volatility and minimal employment variability means good news for equities, a JPMorgan analyst says.
Bank of America Fighting to Keep Dividend Hike After $4 Billion Blunder
Bank of America's note valuation error is "a step backwards for them," says one institutional investor, and "raises credibility issues."
BofA Halts Buybacks, Dividend Increase After Error; Stock Dives
Bank of America made a mistake in its stress-test report to the Federal Reserve; the stock took a 5.2% intraday slide.
Sales of Existing U.S. Homes Fall for Third Straight Month
Sales of previously owned homes fell in March for the third consecutive month as rising prices and cold weather discouraged would-be buyers.
Morgan Stanley Beats Estimates on Fixed Income Surprise
A jump in fixed-income results helped Morgan Stanley post the only increase in trading revenue among the six biggest U.S. banks this year.
Banker Deaths Worry Industry as Coroners Probe
London coroners are preparing to investigate two apparent suicides as unexpected deaths around the world have raised concerns about mental health in the finance industry.
Stress Test Shows 29 of 30 Banks Meet or Top Capital Target
The Federal Reserve’s annual stress tests found 29 of the 30 largest U.S. banks could withstand a deep recession and still pay dividends, fueling speculation about which firms will win approval next week to raise payouts.
BofA Should Pay $2.1 Billion in Fraud Case, U.S. Says
BofA’s Countrywide unit should pay the maximum of $2.1 billion in penalties for selling defective mortgage loans to Fannie and Freddie, the U.S. said.