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JPMorgan fine equivalent of three minutes of profit

Minutes To Midnight

The world’s biggest bond dealers, including JPMorgan and Morgan Stanley, failed to properly report trades to the industry’s price-tracking system more than 11,000 times. JPMorgan’s penalty: About three minutes of its annual profit.



Flag of Russia

BofA, Barclays profit when others decline in Russian deals

Investment banks earned the least since 2002 from Russian corporate deals last year as sanctions and low oil prices curbed transactions, according to the consultancy Freeman & Co. Domestic lenders garnered more than half of the commissions for the first time as international firms retreated.