JPMorgan Chase
Some of the key events about JPMorgan Chase
- 1863Financed the Confederate States during the American Civil War
- 1871Founded as Drexel, Morgan & Co., establishing a strong foundation in investment banking
- 1895Arranged emergency gold loans to the U.S. government, helping to restore confidence in the U.S. dollar
- 1907Played a crucial role in resolving the Panic of 1907, stabilizing the U.S. financial system
- 1915Led a $500 million Anglo-French loan, the largest foreign loan in Wall Street history at the time
- 1933Accused of contributing to the Great Depression through unsound banking practices
- 1935Became one of the first banks to offer retail banking services to the general public
- 1958Introduced the first all-electronic quotation system for government securities
- 1969Became the first U.S. bank to open a representative office in the Soviet Union
- 2002Fined $80 million for improper dealings with Enron Corporation
- 2004Merged with Bank One Corporation, creating the largest bank in the United States by assets
- 2008Acquired Bear Stearns and Washington Mutual during the financial crisis, helping to stabilize the banking sector
- 2008Acquired Bear Stearns and Washington Mutual during the financial crisis, leading to controversies
- 2012Launched the "100,000 Jobs Mission" coalition to promote veteran employment, later expanded to the "Veteran Jobs Mission"
- 2012Incurred $6.2 billion in trading losses due to the "London Whale" scandal
- 2013Agreed to pay $13 billion to settle investigations into its selling of mortgage-backed securities
- 2014Revealed a cyberattack that compromised data of 76 million households and 7 million small businesses
- 2015Pleaded guilty to felony charges for manipulating foreign exchange markets
- 2016Agreed to pay $264 million to settle allegations of hiring relatives of Chinese officials to win business
- 2020Fined $920 million for manipulating precious metals and U.S. Treasury markets
Disclaimer: This material is written based on information taken from open sources, including Wikipedia, news media, podcasts, and other public sources.
JPMorgan Chase Latest news
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Asian stock markets rally following robust U. S. employment figures. Japan's new Prime Minister outlines economic policies as Nintendo stock soars. Chinese markets prepare to reopen with anticipated stimulus measures.
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India's foreign exchange reserves hit a record $704. 89 billion, marking a significant economic milestone. This achievement places India among the top four economies globally in terms of forex reserves.
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U. S. East and Gulf Coast ports resume operations after dockworkers and operators reach wage agreement, ending a three-day strike. The deal includes a significant pay increase but negotiations on other issues continue.
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Longshoremen strike at major U. S. ports disrupts half of oceanic imports. The action challenges recent supply chain improvements and highlights persistent vulnerabilities in global trade networks.
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Japanese retailer Seven & i rebuffs $39 billion offer from Alimentation Couche-Tard, sparking 20% stock surge. Now under pressure to improve performance and defend against potential shareholder appeal.
JPMorgan CEO to Tour Africa, Eyeing Expansion Amid Global Banking Push
JPMorgan Chase CEO Jamie Dimon plans African tour, signaling the bank's expansion goals. Global financial institutions target the continent for growth in sovereign debt, corporate deals, and wealth management services.
Fed Eases Capital Rules for Big Banks, Cutting Buffer Increase to 9%
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Mars acquires Kellanova for $36 billion, diversifying its portfolio. The deal faces financing challenges and potential regulatory scrutiny, yet market confidence remains high for the snack industry's largest merger this year.
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Chinese demand for offshore investments surges, challenging QDII quota limits. Foreign firms employ creative strategies to manage quotas as investors seek alternatives to sluggish domestic markets.
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