Market Extra: 5 things to know before B. of A. earnings
Key points to get ready for Bank of America’s Thursday results. Goldman, J.P. Morgan earnings have set the bar high for big banks.
Watchdog fines JPMorgan, Goldman, Citigroup, Morgan Stanley, Merrill Lynch over funds used to pay lobbyists
Five of America's largest banks will pay $4.5 million to settle claims they used muni and state bond funds to pay lobbyists
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Hedge Funds, Goldman Strike Nine Deal
Nine Entertainment was dragged from the brink of insolvency after lenders agreed a multibillion-dollar debt restructure, a move that also handed CVC Capital Partners the largest loss for a private-equity company on a single transaction in the Asia-Pacific region.
Bank earnings kick off with JPMorgan blockbuster
Friday, October 12, 2012 - 06:59 Spencer Platt/Getty Images People pass a sign for JPMorgan Chase & Co. at it's headquarters in Manhattan on October 2, 2012 in New York City. JP Morgan Chase, one of the bellwethers of the global financial system, has reported a record profit for the third quarter. The huge diversified bank headed by Jamie Dimon—the largest in the U.S. by assets—says it earned $1.40 per share, up 34 percent from the July-September period in 2011. Analysts polled by FactSet had predicted earnings of just $1.21 per share. And money coming in the door—that’s revenue—was up 6 percent, also outpacing forecasts. As the economy improves, JP Morgan is setting aside less money in loan-loss reserves, helping the bottom line. The bank had $1.8 billion on the books for potential loan losses in Q3 2012, down 26 percent from the $2.4 billion in loan-loss reserves one year ago. The upcoming wave of bank earnings--including Wells Fargo, Citigroup, Bank of America, and Goldman Sachs--will ...