JPMorgan Profit Beats as Loan Quality, Bond Trading Improve
JPMorgan Chase & Co. said fourth-quarter profit rose 24 percent as the biggest U.S. bank set aside less money for bad loans and bond-trading revenue increased more than analysts estimated. The most important market news of the day. Get our markets daily newsletter. Business Your guide to the most important business stories of the day, every day. You will now receive the Busine..>> view originalHow to Keep Debt Collectors Honest, and at Bay
“The bureau is working to clean up abuses in the industry and to see that all consumers are treated with fairness, decency and respect,” said Richard Cordray, director of the Consumer Financial Protection Bureau, who spoke Thursday in Washington at an event focused on debt collection practices. About 70 million people — more than a quarter of the adult population in the United States — have a debt in collection or have been contacted about one, the bureau said. “The number of consumers is just ..>> view originalMoody's pays $864 million to US, states over pre-crisis ratings
S&P Global's Standard & Poor's entered into a similar accord in 2015 paying out $1.375 billion. Standard and Poor's is the world's largest ratings firm, followed by Moody's. Moody's said it would pay a $437.5 million penalty to the Justice Department, and the remaining $426.3 million would be split among the states and Washington, D.C. As part of its settlement, Moody's also agreed to measures designed to ensure the integrity of credit ratings going forward, including keeping analyti..>> view originalDonald Trump vs. Big Pharma: He can't bring down prescription drug costs alone
President-elect Donald Trump’s book “The Art of the Deal” details using leverage in business negotiations to contain costs and deliver the goods. Whether Trump wrote his greed-is-good ’80s-era bestseller or not, the book offers a selective glimpse into Trump’s political style. His wheeling-and-dealing background came out again this week when he lashed out at Big Pharma at his Wednesday press conference, accusing the industry of price-gouging the public and promising a new art to that deal.“Phar..>> view originalIt's OK to Love Banks Again
It only took a decade but it's officially OK to fall for U.S. banks again. Consumers feel good. Business leaders feel good. And interest rates are finally not zero -- in fact, they may get an extra lift from President-elect Donald Trump, should his policies boost economic growth as everyone seems to be expecting. The impact was tangible in fourth-quarter results released Friday by JPMorgan Chase & Co., Bank of America Corp. and Wells Fargo & Co., validating the industry's post-presidential elec..>> view originalDisney CEO's Pay Falls But $60 Million 2018 Bonus in Reach
Walt Disney Co. Chairman and Chief Executive Officer Bob Iger received $43.9 million in compensation in fiscal 2016, a 2.3 percent decline from the prior year. He’s in line to receive a $60 million bonus in fiscal 2018 if the company hits a certain target.Iger’s pay included a $20 million cash incentive tied to metrics including operating income and return on invested capital, according to a proxy statement filed Friday. The payout, which makes up about half of his total package, dropped about ..>> view original10 Frequently Asked 401k Questions
The 401(k) is the most common type of defined-contribution retirement plan for U.S. workers. However, these plans aren't well-understood by most people -- even the millions of Americans who participate in them. To help workers make the most of these powerful retirement saving tools, here are the answers to 10 common 401(k) questions. Image Source: Getty Images. 1. Can I use my money before I retire? It depends. The bad news is that some well-known exemptions to the early-withdrawal penalties, ..>> view originalRenault's market value dives after emissions probe begins
Renault SA became the latest victim of the fallout of Volkswagen AG's diesel scandal after Paris prosecutors opened a preliminary investigation into the French company's vehicle emissions, wiping as much as $1.6 billion from its market value. French investigative judges will oversee the case opened Thursday, the same day American authorities announced an investigation into accusations that Fiat Chrysler Automobiles NV used computer software to cheat emissions tests of its diesel models. Renault..>> view originalPrized Maine scallops surge to record price early in year
PORTLAND, Maine (AP) — Maine's fishing regulators say the state's scallops have surged to a record high price at the docks this winter. Fishermen harvest Maine scallops with dragging boats or by hand. A spokeswoman for the state Department of Marine ...>> view originalStudy: Millennials really are making less than their parents did
January 13, 2017 —Generations of Americans have lived by the principle that if you work hard and educate your children, the future will be better than today. It’s the foundation of the American Dream. But is that dream slipping out of reach?The future isn’t looking bright for America’s most educated generation. Using Federal Reserve data to compare 25- to 34-year-olds in 2013 with their counterparts from 1989, the advocacy group Young Invincibles found that, after adjusting for inflation, Mille..>> view original
Thursday, May 11, 2017
JPMorgan Profit Beats as Loan Quality, Bond Trading Improve and other top stories.
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