Crypto News 

While Jamie Dimon Calls Bitcoin a “Fraud”, JPMorgan is Busted For Money Laundering

“Then, JPMorgan was fined $4 billion for committing mortgage fraud, and has been busted for money laundering” writes unknown author for cryptocoinsnews.com. This week, ironically, JPMorgan was cracked down for money laundering, after being fined $4 billion for mortgage fraud in September, merely two months ago.Jamie Dimon has offered baseless condemnation on bitcoin for many years, calling it a bubble, a fraud, and a money laundering tool.Dimon falsely accused bitcoin of being a money laundering tool earlier this year.Since early 2016, JPMorgan and its CEO Jamie Dimon have focused on…

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JPMorgan broke money-laundering rules, Swiss regulator says

“Swiss financial markets authority FINMA has found that the Swiss subsidiary of U.S. investment bank JPMorgan broke anti-money laundering rules, a Swiss court document showed” writes unknown author for cnbc.com. The case involved a “violation of obligations of diligence on questions of money-laundering,” the court document said. Source: cnbc.com Share This:

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News Stocks 

General Electric dividend may not be safe, even after 50% cut: JPMorgan

“GE cut its dividend by 50 percent to 12 cents a share on Monday, the largest dividend cut by a U.S. company outside of the financial crisis” writes Fred Imbert for cnbc.com. At current prices, GE’s yield under the new dividend (effective in December) would be 2.5 percent.General Electric’s dividend could still be in danger even after the industrial giant slashed it in half, an analyst at JPMorgan said Tuesday.Prior to Monday, GE had cut its dividend only twice since 1899. Source: cnbc.com Share This:

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News Stocks 

JPMorgan reveals three top stocks ahead of a week of retail earnings

“JPMorgan shared with clients its favorite picks ahead of one of retail’s busiest weeks of the quarter” writes Carlos Barria for cnbc.com. With a slew of firms set to report earnings, investors will be looking for any clues into how best to play the tricky space.With Amazon accelerating the retail industry’s transition toward e-commerce, the space has become a thornier area for investors to navigate.Though JPMorgan analysts scrutinized all firms under coverage, the team only kept overweight ratings on three stocks. Here are the three JPMorgan’s Christopher Horvers is watching…

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News Stocks 

JPMorgan reveals its favorite department store stocks ahead of earnings

“JPMorgan shared with clients its favorite department store stock picks ahead of a slew of earnings reports in the next week” writes Carlos Barria for cnbc.com. While analyst Matthew Boss expects “mixed performance” across his coverage, a number of “wildcards” should keep investors on their toes through year-end.”With the heart of third-quarter earnings kicking off Thursday with the Department Stores – we expect mixed performance across our coverage with the bifurcation between retail winners and losers,” wrote Boss on Wednesday. Source: cnbc.com Share This:

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News Stocks 

JPMorgan unveils top bank picks after analyzing earnings results

“JPMorgan’s research group shared its top large cap bank stock ideas in a note to clients Wednesday” writes Carlos Barria for cnbc.com. “Divergence persisted into the third quarter among regionals with some banks continuing to deliver better results than others,” wrote analyst Vivek Juneja.”Bank stocks have done well recently, especially money centers, on hopes for a more hawkish Fed (with likely a new head plus more), plus some upside from regulatory and tax reforms.”. The analyst gave his five key thoughts on the recent third-quarter results: Here are three overweight-rated…

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News Stocks 

JPMorgan upgrades American Airlines, calls stock sell-off ‘overdone’

“Following what we view as an overdone correction in American Airlines shares after third-quarter earnings season, we view the risk-to-reward in American Airlines as attractive,” added Baker” writes unknown author for cnbc.com. The recent sell-off in shares of American Airlines is “overdone,” according to one Wall Street analyst.Commenting on JetBlue, Baker noted that “investor focus on cost discipline and margins has us more cautious on JetBlue shares than previously.”. JPMorgan upgraded American to overweight, arguing that plans to boost revenue will continue to buoy the company.The analyst also downgraded shares…

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A Banking App for Millennials That Doesn’t Judge Users, From JPMorgan

“That’s the concept, ultimately, behind JPMorgan Chase & Co.’s (JPM) Finn, a mobile-only checking and savings app. the largest U.S. lender is rolling out this month in St” writes James Langford for thestreet.com. The app learns how users feel about their purchases through a tap-and-swipe emoji tool that may give Tinder users a feeling of déjà vu.Budgeting doesn’t have to be unpleasant, and mobile apps that track spending don’t have to offer snarky feedback. Source: thestreet.com Share This:

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JPMorgan buys fintech start-up WePay

“JPMorgan has agreed to buy payments start-up WePay, in its first major acquisition of a financial technology (fintech) firm” writes Ryan Browne for cnbc.com. The investment bank said Tuesday it would provide its 4 million small businesses clients with WePay’s payments technology.WePay is a Silicon Valley company that offers payment capabilities to business platforms. Source: cnbc.com Share This:

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JPMorgan buying WePay, shifting fintech investment into high gear

“There have been 166 fintech payment deals totaling at least $29.3 billion in 2017, the Journal reported, citing numbers from Financial Technology Partners” writes John Adams for paymentssource.com. The bank has made some investments, including a relatively small $10 million stake in LevelUp, participated in a $100 million investment in Bill.com, and invested in MCX’s mobile payments technology to bolster Chase Pay.For JPMorgan Chase, it’s a substantial commitment to its fintech investment strategy.JPMorgan Chase has made several investments in financial technology startups, but its plan to buy WePay will give…

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