Betsy Graseck News
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JPMorgan Chase & Co. will fight “till the end” anyone who sues claiming they were misled over more than $6.2 billion in losses at the chief investment office last year, Chief Executive Officer Jamie Dimon said.
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Bank of America Corp.’s $8.5 billion settlement with mortgage-bond investors is being considered by a New York judge two years after the lender struck the deal to resolve claims over home loans bundled into securities.
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Betsy Graseck, a bank analyst at Morgan Stanley, says JPMorgan Chase is delivering "double-digit return on equity." Graseck talks with Bloomberg's Tom Keene and Sara Eisen on Bloomberg Radio's "Bloomberg Surveillance."
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Bank of America Corp., the second- largest U.S. lender, rose the most among firms on the KBW Bank Index after Morgan Stanley upgraded the stock to overweight because expense savings are greater than potential legal costs.
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U.S. stocks rose, sending the Standard & Poor’s 500 Index higher for a third day, as earnings from Travelers Cos. to Netflix Inc. beat estimates and new-home sales rose in March.
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Wall Street firms will reduce bonuses rather than cut jobs to control expenses this year, said Betsy Graseck, a Morgan Stanley bank analyst in New York.
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Britain’s biggest banks are under pressure to tell investors how much they expect the Libor rigging-scandal will cost shareholders when they start to report first-half earnings this week.
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Wall Street investment banks, loathed by investors in 2011 and hobbled by weak trading last year, are poised for a return to the spotlight.
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The six largest U.S. banks may return almost $41 billion to investors in the next 12 months, the most since 2007, as regulators conclude firms have amassed enough capital to withstand another economic shock.
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Wells Fargo & Co. Chief Executive Officer John Stumpf said there aren’t enough homes for sale in some markets and that a rebound in sales, prices and construction will bolster future earnings.
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