JPMorgan Chase & Co. tumbled as much as 5 percent, the most in 17 months, after reporting first- quarter profit that fell short of analysts’ estimates on lower revenue from fixed-income trading and mortgages.
JPMorgan Chase & Co., the biggest U.S. bank, said first-quarter profit fell 19 percent on lower revenue from fixed-income trading and mortgages, themes that may be repeated across Wall Street next week. The shares declined 2.9 percent.
JPMorgan Chase & Co.’s Mike Cavanagh, who served as a close deputy to Chief Executive Officer Jamie Dimon for more than two decades, will leave to become co-chief operating officer of Carlyle Group LP.
A U.S. regulator whose vote is needed to change television-station ownership rules that may force Sinclair Broadcast Group Inc. to sell assets is pushing to ensure smaller companies can win exceptions.
Television-station owners including Sinclair Broadcast Group Inc. couldn’t control multiple outlets in small markets and would lose some power to negotiate fees with cable providers under changes set for a vote March 31 by U.S. regulators.
William “Wild Bill” Janklow ’s law office in Sioux Falls, South Dakota, is crowded with mementos from his 16 years as a Republican governor. On a low, wooden bookcase, near bottles of hot sauce custom labeled for his annual Buffalo Roundup , he keeps a 4-foot length of red ribbon festooned with Citibank credit cards.