JP Morgan

Ticker JPM

Today's data summary

Market open
% change
+1.10%
Price US dollars
115.88
Change
+1.26
As of 14:19 21 Aug 2018
Market cap. US dollars
389,324.81 million
As of 14:19 21 Aug 2018

Latest updates

Facebook asks banks for financial habit data

Facebook logo
Getty Images

Facebook has been asking US banks for information about how people use their services, in a bid to see how it can boost user engagement with the social network.

Sources have told the Wall Street Journal that Facebook has asked Wells Fargo, Citigroup, JP Morgan and US Bancorp to share information on card transactions and how bank customers check their account balances.

The idea is for Facebook to look to incorporating some online banking functions from these banks within Facebook Messenger, similar to the service it provides for PayPal, whereby receipts for payments made are sent to users over Messenger.

Facebook said it wouldn't use the bank data for ad-targeting purposes or share it with third parties.

JP Morgan Chase see profits jump

J P Morgan sign
Reuters

JP Morgan Chase has reported an 18.3% rise in quarterly profit, helped by tax gains, a rise in interest rates and higher trading revenue.

The biggest US bank by assets said net income rose to $8.32bn (£6.4bn), in the three months to the end of June, up from $7.03bn, for the same period last year.

Citigroup and Wells Fargo, the third- and fourth-biggest banks by assets, are also due to report on Friday.

Credit Suisse agrees to pay penalty

BBC World Service

Credit Suisse logo on front of building
Getty Images

The Swiss bank Credit Suisse has agreed to pay a penalty of nearly $50m (£37m) after being accused of hiring the children of powerful political families in China to win business, reports BBC World Service.

It means the bank will avoid prosecution following a US investigation into hiring practices at the Asian branches of large banks.

The daughter of the former Chinese premier, Wen Jiabao, once held a senior position at Credit Suisse.

Two years ago, JP Morgan paid more than $250m (£186m) to settle a similar allegation. Other international banks have also been accused. The US said the practice amounted to bribery by another name.

JP Morgan boss in new warning on Brexit job losses

JP Morgan boss says bank could cut 4,000 UK jobs

The chief executive of JP Morgan has told the BBC it could cut its 16,000 UK workforce by more than a quarter if financial rules diverge after Brexit.

Jamie Dimon said the US bank had not needed to make drastic cuts on day one after the EU referendum.

But he revised his long-term estimate of job losses upwards if Brexit talks failed to produce an outcome close to the current arrangements.

Mr Dimon added that such a scenario would harm London as a financial hub.

JP Morgan boss says bank could cut 4,000 UK jobs
The head of JP Morgan, Jamie Dimon, says it could cut 4,000 UK jobs if financial rules diverge after Brexit.

JP Morgan boss in UK jobs warning

JP Morgan boss says bank could cut 4,000 UK jobs
The head of JP Morgan investment bank, Jamie Dimon, says it could cut 4,000 UK jobs if financial rules diverge after Brexit.