JPMorgan second quarter profit jumps 67% with a boost from First Republic takeover
Read full article: JPMorgan second quarter profit jumps 67% with a boost from First Republic takeoverJPMorgan Chase says its second-quarter profits rose by 67% as the nationโs largest bank made more loans to customers and took advantage of higher interest rates and its recent acquisition of First Republic.
The largest US banks would survive a severe recession, the Fed's 'stress tests' show
Read full article: The largest US banks would survive a severe recession, the Fed's 'stress tests' showThe nationโs 23 largest banks passed the Federal Reserveโs so-called stress tests this year, a sign that the nationโs banking system remains resilient despite the recent banking crisis that that led to the failure of three banks.
Bug in Chase Bank online banking causing double transactions, fees
Read full article: Bug in Chase Bank online banking causing double transactions, feesCustomers of Chaseโs online banking services were seeing double transactions, fees and/or payments in their accounts, with the situation not immediately being resolved as of late morning on Friday. Numerous Chase customers were posting on social media that their rent or bill payments were taken out of their accounts twice and reporting hold times with customer service approaching more than an hour.
The banking crisis isnโt over. But how bad will it get?
Read full article: The banking crisis isnโt over. But how bad will it get?Uncertainty continues to pummel the banking industry, despite assurances from financial regulators and bankers that the worst of the recent crisis is over and the banking system remains strong.
Bank stocks continue to fall following First Republic demise
Read full article: Bank stocks continue to fall following First Republic demiseRegulators have barely written the epitaph for First Repbulic Bank, but investors on Wall Street have already moved onto speculating which bank might be the next to fail.
Europe's inflation inches up ahead of interest rate decision
Read full article: Europe's inflation inches up ahead of interest rate decisionEuropeโs painful inflation inched higher last month, extending the squeeze on households and keeping pressure on the European Central Bank to unleash another large interest rate increase.
First Republic Bank seized, sold in fire sale to JPMorgan
Read full article: First Republic Bank seized, sold in fire sale to JPMorganRegulators seized troubled First Republic Bank early Monday, making it the second-largest bank failure in U.S. history, and promptly sold all of its deposits and most of its assets to JPMorgan Chase in a bid to stop further banking turmoil that has dominated the first half of this year.
First Republic shares sink again, down nearly 60% in week
Read full article: First Republic shares sink again, down nearly 60% in weekFirst Republic Bank's stock slid again Wednesday and an ongoing rout has erased 60% of its value just this week on concerns about the bankโs financial health in the wake of two other bank collapses.
Stock market today: Bank fears send Asia shares mostly lower
Read full article: Stock market today: Bank fears send Asia shares mostly lowerAsian shares mostly fell Thursday, echoing a decline on Wall Street, as worries about the U.S. banking sector and inflationary pressures weighed on investor sentiment.
First Republic Bank stock plunges as depositors flee
Read full article: First Republic Bank stock plunges as depositors fleeFirst Republic Bankโs stock plunged Tuesday after it said depositors withdrew more than $100 billion during last monthโs crisis, with fears swirling that it could be the third bank to fail after the collapse of Silicon Valley Bank and Signature Bank.
First Republic Bank shares slide in volatile trading session
Read full article: First Republic Bank shares slide in volatile trading sessionShares of First Republic Bank fell another 47% Monday as investors remain uneasy about the bankโs financial condition even after a group of the nationโs largest financial institutions teamed up on a $30 billion rescue package.
Asian shares up after First Republic aid spurs Wall St rally
Read full article: Asian shares up after First Republic aid spurs Wall St rallyShares have advanced in Asia, tracking a rally on Wall Street after a group of big banks offered a lifeline to First Republic Bank, the lender investors had focused on in their hunt for troubles in the banking industry.