JPMorgan’s Profit Shrinks, but Chief Says U.S. Customers Are ‘Healthy’
The bank earned $9.7 billion in the third quarter, down from last year. It also added to reserves against loan losses and took a hit on some investments.
Posted inBanking and Financial Institutions Citigroup Inc Company Reports Consumer Behavior Credit and Debt Dimon, James Fraser, Jane (1967- ) Gorman, James P JPMorgan Chase & Company Morgan Stanley Scharf, Charles W United States Economy Wells Fargo & Company
JPMorgan, Citigroup and Other Big Banks See Profits Drop
Lenders foresee economic “headwinds,” but household spending is mostly holding up, buffering profits from turmoil in financial markets.
Posted inBanking and Financial Institutions British Pound (Currency) Budgets and Budgeting Economic Conditions and Trends Government Bonds Great Britain Kwarteng, Kwasi Politics and Government Stocks and Bonds Taxation Truss, Elizabeth (1975- )
U.K. Markets Slump Despite Kwasi Kwarteng’s Ouster
Kwasi Kwarteng, the chancellor of the Exchequer, was fired on Friday by Prime Minister Liz Truss in a bid to end weeks of market turmoil.
Wells Fargo’s Scandals Drag on Profit as It Braces for a ‘Slowing Economy’
The bank’s earnings took a $2 billion hit, bringing its profit down to $3.5 billion in the third quarter.