The acquisition would create largest US depository institution with over $900 billion of customer deposits, financial services firm, a JPMorgan statement said. However, the transaction excludes senior unsecured debt, subordinated debt and preferred stock of Washington Mutual's banks, it added.
As far as US growth is concerned, he says that the first half of next year is expected to be better than the second half of this year.\n\n
For Lori Beer, chief information officer, JPMorgan Chase & Co, largest banker in the US, India is a big part of the organisation's global technology footprint and is core to its products and services. This is evident from the fact that in less than two months since JPMorgan & Chase chief executive officer Jamie Dimon visited India, Beer has come here to see the recently opened centres in Mumbai and Bengaluru. "What is different for me this year are our new centres and to be able to come and see the vibrancy, and connectedness is great.
Zelle, a major US peer-to-peer payment service, is set to launch in India by the end of this year, marking its first international expansion. The move aims to tap into India's large remittance market, offering a service similar to UPI but integrated with bank apps. Zelle also introduced ZelleUSD, a stablecoin for future global payment capabilities.
Infosys has been recognised as the leading company for career growth in India, according to LinkedIn's '2026 Top Companies' list. The list, dominated by tech firms, consulting giants, and financial institutions, also features Accenture, Amazon, JPMorgan Chase, and SAP in the top five.
E-commerce major Flipkart has announced significant appointments to its technology leadership team, bringing in experts in artificial intelligence, data science, fintech, and core engineering. These strategic hires, including Goda Ramkumar, Mohan Palisetti, and Nitesh Jain, are aimed at strengthening Flipkart's capabilities in these critical areas to better serve India's expanding digital consumer and seller base.
E-commerce major Flipkart has announced significant appointments to its technology leadership team, bringing in experts in artificial intelligence, data science, fintech, and core engineering. These strategic hires, including Goda Ramkumar, Mohan Palisetti, and Nitesh Jain, are aimed at strengthening Flipkart's capabilities in these critical areas to better serve India's expanding digital consumer and seller base.
The DP World Professional Golf Tour of India has appointed Rachana Bahadur, Senior Vice President and Country Head " India at Synchrony Financial, as an advisor to the organisation.
Major US technology companies, Meta and LinkedIn, are undergoing significant workforce restructuring, with Meta planning to lay off 8,000 employees while shifting 7,000 into AI-focused roles, and LinkedIn cutting over 600 jobs across various departments.
Trading loss of global financial services firm JPMorgan Chase & Company may touch $9 billion, much higher than previous estimates of $2 billion disclosed last month, according to a media report.
US District Judge Katherine Forrest in Manhattan denied JPMorgan's bid to dismiss the 2009 lawsuit by the Operating Engineers Pension Trust of Pasadena, California.
Lehman Brothers Holdings Inc's estate has filed a lawsuit against JPMorgan Chase, alleging that the Wall Street major siphoned billions of dollars just days before the demise of the company.
JPMorgan Chase was "at the very centre" of Madoff Ponzi scheme
JPMorgan, which got $25 billion under the Troubled Asset Relief Program, intends to raise $5 billion to satisfy a supervisory condition for repayment of the government funds requiring demonstrated access to equity capital markets, a company statement said.
JPMorgan Chase is planning to invest $100-150 mn a year in India. This fund will be looking at a range of sectors and would not be focused on one particular sector. It can bring in sector expertise, investment banking expertise and the other broader resources of a full-service financial institution. The new fund, Private Capital Asia, will take non-controlling stakes in mid-cap companies, exclusively in Asia. JPMorgan regards India as a supportive market for private equity.
Financial services major JPMorgan Chase on Thursday posted 36 per cent surge in the second-quarter profit at $2.72 billion, propelled by a steep rise in investment banking fees.
JPMorgan Chase took the market by surprise on Thursday after it announced a $2 billion trading loss.
In a repeat of the previous year's results, the US bank came ahead of rivals Goldman Sachs, Deutsche Bank, Bank of America Merrill Lynch and Citi, which all tied for second place, according to industry analytics firm Coalition.
Digital payments provider PhonePe has filed draft papers with markets regulator Sebi for its upcoming initial public offering (IPO) using the confidential pre-filing route. On Wednesday, the company's spokesperson said, "PhonePe Ltd has filed the Pre-filed Draft Red Herring Prospectus with Sebi and the stock exchanges, under...the Sebi ICDR Regulations in relation to the proposed initial public offering of its equity shares on the main board of the stock exchanges".
JP Morgan may buy stake in debt -laden SpiceJet
The bank sheds staff to help it deal with bad home loans.
Tata Consultancy Services (TCS), Cognizant and eight other major corporations have been questioned by US Senators for filing thousands of H-1B skilled labour visa petitions after conducting "mass layoffs" of American employees.
MeitY is in discussions with global Fortune 500 and Fortune 1000 companies, mid-tier firms, and state government officials on a three-pronged approach to setting up new GCCs in India.
The IPO wave of 2025 is here, and it's bigger than ever. From fintech unicorns to financial powerhouses and infrastructure giants, some of India's biggest names are all set to make their stock market debut. PhonePe, Zepto, Tata Capital, NSE, NSDL, and JSW Cement are just a few of the highly awaited listings that have investors and analysts buzzing with excitement.
The US government, under its $700-billion bailout plan, has purchased shares in 30 American banks for a total of over $150 billion, half of which have gone into Citigroup, JPMorgan Chase and Wells Fargo.
rediffGURU Major Inderpaul Singh (retd) offers career guidance and helps students and individuals handle challenges in their professional lives.
In a brief letter to his colleagues and shareholders, Dimon disclosed that the cancer was detected quickly and is confined to the original site and adjacent lymph nodes on the right side of his neck with no evidence of cancer elsewhere in his body.
Growth is the only way poverty can be reduced, says JPMorgan Chase's Jahangir Aziz.
The banks provided the 'living wills' road maps that were requested by US regulators to help the banks' liquidation in a financial crisis.
Daryan and Daryll Warner, sons of former FIFA Vice President Jack Warner, and their associates deposited more than $600,000 in cash at bank branches in New York, Miami and Las Vegas in the second half of 2011, according to a 2012 complaint in US District Court in New York that was unsealed on Wednesday.
Investors ask if the hugely successful investment banking model can be fully repaired.
The credit crunch means that even a superstar director has to accept some pretty stiff financial terms.
56 Indian companies have found a place in the exclusive club of 'The Forbes Global 2000' - 'the biggest, most powerful listed companies in the world'.
After 15 months of negotiations, the Aditya Birla Group has finally agreed to buy out the US firm Columbian Chemicals Company (CCC) for $875 million from One Equity Partners, the merchant banking arm of JPMorgan Chase. This has catapulted the group to become the world leader in carbon black with a combined two million tonne annual production.
After being on the defensive for the last two years, global bankers are making their presence felt in Davos.
While the finance minister is in favour of sacrificing some growth to curb inflation, the problem lies in inflation being more a supply-side than a demand-led problem.
Boeing admitted on Wednesday that it would have to redesign parts of its troubled 787 Dreamliner, raising the prospect of a third delay to delivery of the new aircraft would be delayed for the third time in recent months. The company's comments came in response to a warning from Steven Udvar-Hazy, chairman of International Lease Finance Corporation (ILFC), the 787's biggest customer.
Fired by a financial firm? Here's a road map to rejoining the workforce.
While the jury's still out on whether US President Barack Obama's proposed stimulus is the right way to help fix the economy, rising unemployment is something that's likely to trouble the President for many years to come.
Our take on everything from inflation to the credit crunch--and what it all means for small businesses.
