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Investment Banks

Reuters | Equities.com |

JPMorgan Chase & Co, the largest U.S. lender, said on Tuesday it was working on a plan to bring thousands of employees currently working from home back onsite in phases, according to an internal memo seen by Reuters. JPMorgan is the first big bank to announce steps to return to normal as debate grows over reopening the U.S. economy after the novel coronavirus shuttered businesses across the country and put a record 22 million people out of w...


Reuters | Equities.com |

(Reuters) - Morgan Stanley (MS.N) posted a 32% fall in quarterly profit on Thursday as its advisory and wealth management businesses took a hit from the economic fallout of the COVID-19 pandemic.The results capped first-quarter earnings from big U.S. banks, marked by significant declines in profit and billions in provisions to cover for a wave of expected loan defaults due to a global economic slowdown triggered by the pandemic.Morgan Stanley’s wealth management unit, which contributes roughly...


Reuters | Equities.com |

The firm set aside significantly higher loan-loss provisions due to the impact of COVID-19 and booked heavy losses on investments.​


Reuters | Equities.com |

The bank now has a total of $8.3 billion set aside to cover loans that may go bust in the aftermath of the global shutdown.


Reuters | Equities.com |

Trading revenue could be up big when the five big Wall Street banks report this week, but those gains will likely be overshadowed by declines in other businesses and a bleak outlook for the rest of 2020.


Reuters | Equities.com |

The investment bank had not previously disclosed that Gorman had tested positive.


Reuters | Equities.com |

A regulatory filing disclosed that the bank had flagged the potential breaches last year to AUSTRAC.


Reuters | Equities.com |

The lawsuit led by three pension plans said Goldman fraudulently overstated its ability to manage conflicts, and that shareholders lost more than $13 billion as a result.


Matt Bird | Equities.com |

Gillian Tett, Editor at Large at the Financial Times interviews Nassim Taleb, Scientific Advisor for Universa Investments on capital market on the Traders Network Show, an Equities News original show


Reuters | Equities.com |

Dimon said JPMorgan's earnings will be down “meaningfully in 2020.”



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