Topic: JPMorgan Chase & Co.

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Five ways to get the most from your credit card

Credit card companies are using incentives to keep customers using their plastic. Here are five incentives you can use to get the most out of your credit card:
Three best ways (and three worst ways) to finance holiday shopping

Consumers tend to rack up a lot of credit card debt during the fourth quarter, largely due to holiday expenses. This year, by one estimate, the average holiday shopper is on track to spend around $800. For many, that means financing, which remains a double-edged sword despite historically low interest rates and an array of new consumer protections. It can either save you a lot of money in interest and fees or trip you up with caveats buried in fine print that drastically inflate your expenses. Here are three of the best and three of the worst financing offers for holiday shoppers in 2012:
Five ways big banks' Libor scandal affects you

London, this year's host of the Olympics, is also home to a bank scandal that threatens to rock the financial world as much as the Games influence the world of sports. Here's why: Libor (London Interbank Offered Rate) is a global benchmark for interest rates that reaches deep into the international financial system. Allegations that banks rigged those rates means that everyone from mortgage-holders and indebted students to cities and mutual funds may have had their interest rates unnaturally altered. Already tainted by other scandals, banks are under investigation because of charges that they profited illegally from their rate-rigging scheme. The mess further taints big banks and puts more strain on the credibility of the global financial system. Here are five ways the Libor scandal could affect you:
For these four nations, 2012 is worse than the Great Recession

The Great Recession of 2008/09 delivered the worst blow to the global economy since the 1930s. But in a few nations, 2012 is turning out to be worse than 2009 in terms of economic growth. Europe's debt crisis, the general slowing of the world economy, and domestic political troubles have played a role in undercutting 2012 growth for one or more of these four nations. Can you guess who they are?
5 great travel rewards credit cards

Summer travel can be cheap with the help of credit card rewards. Here are five great credit card rewards programs to fit your vacationing style.

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Do the jobs numbers matter to voters?

Republicans and Democrats use the monthly jobs report as a campaign tool and journalists analyze the numbers and political consequences ceaselessly. But for voters, circumstances in their own lives are better indicators of economic recovery.
For these four nations, 2012 is worse than the Great Recession

The Great Recession of 2008/09 delivered the worst blow to the global economy since the 1930s. But in a few nations, 2012 is turning out to be worse than 2009 in terms of economic growth. Europe's debt crisis, the general slowing of the world economy, and domestic political troubles have played a role in undercutting 2012 growth for one or more of these four nations. Can you guess who they are?
The New Economy Jobs outlook is tepid, but investors don't have to be glum

Job growth is subdued and could stay that way well into 2013, but that doesn't mean investors can't profit by choosing stocks wisely. J.P. Morgan is introducing a new Nifty Fifty for the world's emerging markets.
Federal Deposit Insurance Corporation: Bank profits up from 2011

Federal Deposit Insurance Corporation (FDIC) said Tuesday that the banking industry earned $34.5 billion in the second quarter, up from $28.5 billion in the second quarter of 2011. Banks were also less cautious about lending, though earnings growth remained 'sluggish' according to the Federal Deposit Insurance Corporation.
European Central Bank prez skips key financial meeting

European Central Bank president Mario Draghi will skip Friday's pivotal meeting of the world's central bankers in Jackson Hole, Wyo. Mr. Draghi has promised that the European Central Bank will do everything it can to save the euro, sending the currency's value surging to seven-week highs.
The Reformed Broker A defense of the hedge fund industry. Really.

The hedge fund industry has its issues, but buying up Apple stock is not one of them.
Home sales rise as housing market rebounds. Slowly.

Home sales rose in July, continuing a slow rebound for the housing market. Home sales have been a rare bright spot in the economy this year.
The Reformed Broker Shocker: Stocks defy expectations

Stocks have outpaced Wall Street forecasts to an unprecedented degree this year. It almost always works the other way around.
All-male Augusta National invites first female members

The home of the Masters, under increasing criticism the last decade because of its all-male membership, invited former Secretary of State Condoleezza Rice and South Carolina financier Darla Moore to become the first women in green jackets when the club opens for a new season in October.
Keep Calm Good Reads: Volcanoes, guillotines, and the key to happiness

A look at modern France, and a profile of revolutionary villain Maximilien Robespierre; the American recovery and the very happy people of Iceland. Here are this week's good reads.
Wells Fargo settlement for risky investments: $6.6 million

Wells Fargo settlement doesn't include admitting wrongdoing. Before the Wells Fargo settlement, the Securities and Exchange Commission had charged that its brokerage unit had improperly sold high-risk investments to cities and towns.
Standard Chartered: how Iran dealings could cost bank a N.Y. license, or worse

New York regulators have accused Standard Chartered of trying to hide some $250 billion in transactions with Iranian companies. Federal authorities are also reviewing the bank's transactions.
Standard Chartered shares plunge after Iran allegations

Standard Chartered market value plummeted by nearly $12.5 billion after the New York state regulator accused the UK bank of being involved in laundering money for Iran. The share price for Standard Chartered tanked by 23 percent.
Geithner meets eurozone leaders: a step toward taming debt crisis?

In Europe, US Treasury Secretary Geithner backs the European Central Bank's pledge to do 'whatever it takes' to save the eurozone from a potential breakup and boost economic growth.
Horizons Why Zynga needs Facebook

Zynga stock has tumbled following a lackluster earnings report. Is Facebook to blame?
Netflix stock plunges on concerns about growth

Netflix stock lost 25 percent of its value Wednesday. Analysts say it's growing too slowly domestically. Netflix stock dropped precipitously after last quarter's earnings report.
Robert Reich Big bank engineer rejects big banks. Will Obama and Romney follow?

Sandy Weill, who was instrumental in Wall Street banks becoming "too big to fail," has come out in favor of breaking up the big banks. Will one of the presidential candidates take up Weill's proposal?
Haunted by Europe, US market can't get ahead

While The Street was able to ignore Europe's struggles for the past few days, the struggles of Spain on Friday proved too much for the market to bear. As Spain's stock market plunged 6 percent, the Dow Jones dropped 120 points to close at 12,822.
Morgan Stanley earnings fall sharply

Morgan Stanley misses Wall Street expectations as revenue for its investment banking unit falls 37 percent. Morgan Stanley stock drops.
Briefing Libor scandal: What is it and why you should care

One bank caught trying to rig an interest rate may be tip of an iceberg. With an estimated $300 trillion in loans or derivative contracts around the world pegged to the interest rate, the scandal is again shaking faith in major international banking centers like Wall Street and London City.
HSBC money laundering: Bank vows fixes. Senators doubtful.

HSBC money laundering comes under the microscope in a Senate hearing. Bank officials promise to shut down operations in the Cayman Islands, tied to HSBC money laundering.
The Daily Reckoning A crisis veiled in public spectacle

Over the course of three odd decades, billions of dollars were lent to people who shouldn’t have been allowed to borrow lunch money. And now, there are losses in the trillions. The real question is, will the market finally be allowed to correct itself?
The Monitor's View: As bank scandals add up, a need for a culture of integrity in banks

The HSBC scandal comes soon after reckless or deceitful behavior at Barclays and JPMorgan. The pattern lies in a bank culture that doesn't emphasize character enough. A survey of the industry shows why.
As Mayer takes reins at Yahoo, what's her first order of business?

Marissa Mayer started her new job Tuesday, leading her former rival, Yahoo. Mayer will be Yahoo's fifth CEO in the past five years.
Happy Friday! JPMorgan launches stock market rally

Showing a vote of confidence in JPMorgan Chase Friday, relieved investors drove up bank stocks, ended a six-day losing streak for the market and sent the Dow Jones industrial average up 204 points, the best day this month, to close at 12,777.