Being the largest bank in US and a major provider of services in the finance sector, JP total assets stands at US$2.415 trillion. The company which was formed in 2000 after the merger between JP Morgan & Co…
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As compared to the same period last year, JP Morgan registered a reduction in bond trading revenue by 21%. Additionally, the bank revenue obtained from the mortgage reduced to 84%. Major aspect that caused the poor performance by the bank was due to uncertainties that surrounded the US economy as far as lending to consumers and trading volumes are concerned. Being one of the Wall Street banks to post the reduced earnings, JP Morgan indicates how the financial sector has been faced with difficulties in the first quarter of 2014. Additionally, majority of the businesses owned by the bank including the commercial lending and the credit cards indicated low profits. This resulted to reduced total revenue for the bank in the first quarter an aspect that may result in reduction of annual revenue if the trend of the low performance in the financial sector continues in the remaining quarters. According to the bank, the net income fell to $5.27 billion which is equivalent to $1.28 per share form the $6.53bn, or $1.59 per share which was experienced in the same period in 2013. According to the analysts, the bank earning per share was expected to stand at $1.40 per share. However, this was not achieved due to the reduction in net revenue which experienced 8.5% fall to stand at $22.99bn while the bank expected total revenue to stand at $24.53billion. Similarly, in the premarket trading, JP shares reduced by 3.3% to sell at $55.50 deviating from $61 highest prices that the bank has maintained for the last 13 years. This is a major indicator of poor performance of the bank an aspect that may result to low level of trust from the customers as well as investors.
Despite the low performance by the JP Morgan, Jamie Dimon, the chief executive officer indicates that the largest bank in US is creating confidence in the country’s economy. As the result of
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Most Americans blame Obama government for not providing immediate solutions to the prevailing problems forgetting that he took over some of them from Bush government. For instance, the government in 2009 inherited a huge debt spread over by Bush government up year 2011 being money used to finance some of the most expensive wars undertaken by America.
For instance, the journal updates the readers on the current economic matters and trending business, politics and its drama among others. This article provides a thoughtful discussion on the trending economic issues like inflation and house prices, entrepreneurship ups and downs, and unemployment.
The worldwide crisis in the U.S financial markets and also the sluggish growth rates in the emerging markets like China are slowing down the trade. This has become a hindrance to the global economy; thus the baby booming generations have become highly concerned about the retirement income security.
This was unprecedented because economist believed that the economy was doing a lot better and communicated the same message to the public. Some of the reasons for the lower gross domestic product could be weak business investment, decreased consumer spending, and the reduction of the overall export by the United States.
In addition, the worsening economic state of china could also be considered as a contributing factor for America’s emergence as the top investors’ destination. The undergoing financial recovery spear headed by the Obama’s administration could have motivated most of the confidence in United States by foreign investors.
It gives the “illusion” that the company is doing well, or profitable due to its high valuation but really, it is the same stock as before (with a lower price). The practice is not healthy to the economy but it is not illegal so many companies still use this “trick” for their stocks to be valued higher and have higher returns.
Of course everybody knows that ObamaCare is a health insurance sponsored by President Obama but many are still oblivious of what it is really about, why many politicians disagree about it and whether if it economically advantageous to Americans both as a country and individual.
In the past one month, the rand has depreciated 12% to the dollar; this has mainly been driven by the policies implemented by the FED that were rather unconventional, drastic and with far reaching effects. The policy, in which the
onsidering the launch of anti poverty campaigns by President Johnson and the calculation of Orshansky, a civil servant for determining the number of those people who are below the line of poverty. While the calculation is intriguing, it might seem to the rest of the world that
As a result, many readers have turned to this journal to identify job opportunities that are advertised in this journal on a weekly basis. Similarly, readers become aware of how different companies perform their duties and how the
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