International Business News - JPM http://www.ibtimes.com All articles are copyrighted by IBTimes.com 400 100 http://www.ibtimes.com/ http://www.ibtimes.com/images/top_logo_ibt2_3.gif Lehman Brothers Holdings Inc. will begin to cut about 5 percent of its staff on Monday as part of an overall plan to streamline its balance sheet amid further turbulence in the financial markets, said a person familiar with the plan. http://www.ibtimes.com/articles/20080516/lehman-brothers-set-to-cut-5-percent-of-staff.htm Fri, 16 May 2008 14:23:28 EDT The Dow Jones Industrial average closed higher on Thursday, led by automaker General Motors Corp., after the automaker reached a tentative agreement with the Canadian Auto Workers union. http://www.ibtimes.com/articles/20080515/djia-leaders-and-laggards-gm-utx.htm Thu, 15 May 2008 17:02:28 EDT Shares of commercial banks mostly ended higher Thursday, along with the broader market as investors were relieved by a pullback in oil prices and some better-than-expected economic data. http://www.ibtimes.com/articles/20080515/closing-glance-shares-of-commercial-banks-fall.htm Thu, 15 May 2008 16:52:38 EDT Retailers and consumer groups will take a swipe at the credit card industry Thursday, as they urge members of Congress to change the way card companies set the fees merchants pay on electronic transactions. http://www.ibtimes.com/articles/20080515/ahead-of-the-bell-credit-card-fee-fight.htm Thu, 15 May 2008 06:21:29 EDT Diversified financial-services companies' mostly closed higher on Wednesday as Wall Street got a boost from better-than-expected consumer data that alleviated some fears about inflation. http://www.ibtimes.com/articles/20080514/closing-glance-diversified-financials-shares-gain.htm Wed, 14 May 2008 16:42:23 EDT Investment banks should be regulated more like commercial banks if they're going to get the same kind of help from Washington, former Federal Reserve chairman Paul Volcker said Wednesday. http://www.ibtimes.com/articles/20080514/ex-fed-chair-investment-banks-need-stricter-rules.htm Wed, 14 May 2008 16:38:10 EDT Mortgage application volume rose 2.9 percent during the week ending May 9, according to trade group Mortgage Bankers Association's weekly application survey. http://www.ibtimes.com/articles/20080514/mortgage-application-volume-rises-slightly.htm Wed, 14 May 2008 07:22:32 EDT Two major investment firms will advise Florida on financing its hurricane catastrophe insurance fund although Gov. Charlie Crist tried to exclude them Tuesday. http://www.ibtimes.com/articles/20080513/fla-board-wont-exclude-2-investment-firms-from-bidding.htm Tue, 13 May 2008 17:56:08 EDT JPMorgan Chase & Co. says the Securities and Exchange Commission may bring civil charges against the bank related to the bidding of instruments tied to municipal bonds. http://www.ibtimes.com/articles/20080513/sec-notifies-jpmorgan-of-possible-charges.htm Tue, 13 May 2008 10:35:46 EDT Diversified financial-services companies' shares pulled back Tuesday morning after the Commerce Department said retail sales fell in April and business inventories increased by the smallest amount in a year, two signs of a weakening economy. http://www.ibtimes.com/articles/20080513/opening-glance-diversified-financials-decline.htm Tue, 13 May 2008 10:22:14 EDT Wall Street rallied Monday as oil prices fell back and alleviated some of investors' concerns about accelerating inflation. The Dow Jones industrials gained 130 points. http://www.ibtimes.com/articles/20080512/stocks-up-as-oil-price-drop-eases-inflation-fears.htm Mon, 12 May 2008 17:25:06 EDT Treasury prices slipped modestly Monday as the stock market rallied and fixed-income looked ahead to a number of key economic reports to be released in the coming days. http://www.ibtimes.com/articles/20080512/bonds-down-as-stocks-rise-investors-await-economic-data.htm Mon, 12 May 2008 16:43:02 EDT JPMorgan Chase & Co.'s chief executive said Monday that while the crisis in the credit markets appears to be three-quarters over, he believes a U.S. recession is just beginning. http://www.ibtimes.com/articles/20080512/jpmorgan-chase-ceo-recession-is-just-beginning.htm Mon, 12 May 2008 14:30:40 EDT Diversified financial-services companies' shares rose Monday, as Wall Street got some relief from soaring energy prices. As oil prices declined, the dollar advanced, easing some worries about inflation. http://www.ibtimes.com/articles/20080512/opening-glance-diversified-financial-shares-rise.htm Mon, 12 May 2008 10:22:05 EDT Citigroup Inc.'s new chief executive, Vikram Pandit, plans to stick with a global banking model after months of intense review _ but only after shrinking the company by about one-fifth first. http://www.ibtimes.com/data/articleimgs/45216-citigroup-outlook.jpg http://www.ibtimes.com/articles/20080510/citigroup-to-shed-nearly-500-billion-in-assets.htm http://www.ibtimes.com/articles/20080510/citigroup-to-shed-nearly-500-billion-in-assets.htm Sat, 10 May 2008 07:06:44 EDT Shares of most diversified financial-services companies dropped on Friday, as investors' concerns increased about continuing fallout from the credit market crisis and rising oil prices. http://www.ibtimes.com/articles/20080509/closing-glance-diversified-financial-shares-mostly-drop.htm Fri, 09 May 2008 16:41:22 EDT A government-backed mortgage bailout is needed, and it must be done right away. Before shouting about all the reasons why taxpayers shouldn't rescue the profligate who took on more debt than they could handle, think about this: New research estimates one in 33 subprime borrowers will foreclose on their homes in the next two years. http://www.ibtimes.com/articles/20080509/all-business-government-backed-housing-bailout-badly-needed.htm Fri, 09 May 2008 13:56:44 EDT Shares of diversified financial services were mixed Friday morning, as some investors looked past a wider-than-expected quarterly loss at insurer American International Group Inc. and soaring energy prices. http://www.ibtimes.com/articles/20080509/opening-glance-diversified-financial-shares-open-mixed.htm Fri, 09 May 2008 10:39:55 EDT Fannie Mae said late Thursday it will sell about $4.5 billion of common stock and preferred stock to raise cash after posting a $2.2 billion loss for the first quarter. http://www.ibtimes.com/articles/20080508/fannie-mae-prices-4-5-billion-stock-offering.htm Thu, 08 May 2008 21:37:00 EDT Diversified financial services stocks fell Thursday as investors awaited quarterly results from insurance provider American International Group and worried about the financial health of State Street Corp. http://www.ibtimes.com/articles/20080508/closing-glance-diversified-financial-shares-decline.htm Thu, 08 May 2008 16:39:55 EDT