JPMorgan Chase – News Stories About JPMorgan Chase - Page 17

Oct 9, 2007 5:45 AM CDT

Sallie Mae Sues Spooked Suitors

Student-loan giant refuses to renegotiate $25B buyout deal

(Newser) - College student lender Sallie Mae is suing a group of private equity firms and banks that are backing out of a $25-billion buyout deal. The group—J.C. Flowers & Company, Friedman Fleischer & Lowe, JP Morgan Chase and Bank of America—had set a deadline of today for negotiating...

Stocks Down, Led by Financials

Sep 24, 2007 3:44 PM CDT

Stocks Down, Led by Financials

Financial and energy companies led the way

(Newser) - The stock market took a dip today after an IMF report predicted that credit markets may not “normalize" soon and will slow global economic growth. Financial and energy companies helped pull the Dow down 61.13 points to 13,759.06. Citigroup, Bank of America and JPMorgan Chase all...

Wall Street Up, Up, and Away for Holiday Weekend

Aug 31, 2007 4:42 PM CDT

Wall Street Up, Up, and Away for Holiday Weekend

Investors thank Bush, Bernanke for gains

(Newser) - On the eve of the holiday weekend, the major markets jumped today, riding encouraging comments by President Bush and Ben Bernanke to broad advances that pushed their monthly gains above 1%. The Dow, which saw 28 of 30 stocks rise, finished up 119.01 points, closing at 13,357.74....

Home Depot Deal Renovated

Aug 27, 2007 5:37 AM CDT

Home Depot Deal Renovated

Price for wholesale unit slashed

(Newser) - The sale of Home Depot's wholesale supply unit—threatened by the credit crisis —is going ahead after tense negotiations between Home Depot, private equity firms buying the company and banks providing the financing. Home Depot slashed its price 18% to $8.5 billion and guaranteed some of the loans...

Banks Might Derail Home Depot Deal

Aug 24, 2007 7:10 AM CDT

Banks Might Derail Home Depot Deal

Private equity threatens lawsuit as financing dries up

(Newser) - The pending sale of part of Home Depot took an ugly turn last night as three banks and three private equity firms entered into a showdown over financing. Home Depot dropped its asking price by over $1 billion, but the banks involved—JPMorgan Chase, Lehman Brothers and Merrill Lynch—have...

Top Banks Borrow $2B From Fed

Aug 23, 2007 5:12 AM CDT

Top Banks Borrow $2B From Fed

Bid to encourage other banks to borrow to shore up credit markets

(Newser) - America's biggest banks—Citigroup, Bank of America, J.P.Morgan Chase and Wachovia— have borrowed a total of $2 billion from the Federal Reserve at the government's so-called discount window. It's an attempt to shore up the faltering credit markets by encouraging smaller banks to borrow from the Fed without...

Shareholders
OK Tribune Takeover

Aug 21, 2007 1:41 PM CDT

Shareholders OK Tribune Takeover

But analysts say Zell's bid should be lowered

(Newser) - The Tribune Co.’s shareholders approved Sam Zell's $8.2 billion takeover today, nudging the publisher one step closer to private ownership. But some analysts remain skeptical that the deal will go through as planned—the company’s declining profitability since the April announcement has triggered speculation that the...

Apple Toying With Mini iPhone

Jul 10, 2007 2:55 PM CDT

Apple Toying With Mini iPhone

Analysts guess $300 scaled-down version of popular gadget in the works

(Newser) - Apple will release a fewer-frills, cheaper counterpart to its wildly successful iPhone by the end of the year, a JP Morgan report claims. A Taiwan-based analyst cites an unnamed source in the supply chain and a patent application for a multifunctional handheld device with a circular touch pad, which Apple...

JPMorgan Heads for Ground Zero

Jun 14, 2007 9:05 AM CDT

JPMorgan Heads for Ground Zero

Bank gets $100M in incentives to build new skyscraper on WTC site

(Newser) - JPMorgan Chase has agreed to a $300 million dollar deal to develop and lease one of the five skyscrapers planned for the World Trade Center site, giving a big boost to the development effort at Ground Zero. The financial services giant's investment banking and trading divisions will migrate to the...

Dow Powers to Record High

Apr 19, 2007 7:08 AM CDT

Dow Powers to Record High

(Newser) - The Dow rose 30.80 points yesterday, closing above 12800 for the first time. The new record was powered was by JP Morgan Chase, Boeing and Caterpillar, while nearly two-thirds of the Dow components failed to make gains, the Wall Street Journal reports. Tech stocks continued to be weak; the...

Loan Giant Sallie Mae Goes Private

Apr 17, 2007 8:37 AM CDT

Loan Giant Sallie Mae Goes Private

Nation's largest student lender is sold for $25 billion

(Newser) - A group of investors is buying student lending giant Sally Mae for $25 billion, even as Capitol Hill debates reducing federal subsidies for student loans. The company—which began as a quasi-public agency—will be taken private by Bank of America, JPMorganChase, and private equity houses J. C. Flowers and...