It has been reported that J.P. Morgan Chase & Co. (NYSE:JPM) will stop offering debit card rewards.

J.P. Morgan Chase & Co. (NYSE:JPM) Stops Rewards Program

The latest move from J.P. Morgan Chase & Co. (NYSE:JPM) is considered to be a part of its strategy to reduce its losses on interchange fees.

The company has begun informing its customers about the new plan.

J.P. Morgan Chase & Co. (NYSE:JPM) said in a letter to the customers that, “Congress recently enacted a new law known as the Durbin Amendment that significantly impacts debit cards. As a result of this law, we will be changing our debit rewards program.”

JP Morgan Chase & Co. (NYSE:JPM) shares were at 45.52 at the end of the last day’s trading. There’s been a 14.2% change in the stock price over the past 3 months.

JP Morgan Chase & Co. (NYSE:JPM) Analyst Advice
Consensus Opinion: Moderate Buy
Mean recommendation: 1.43
(1=Strong Buy, 5=Strong Sell)
3 Months Ago: 1.42
Zack’s Rank: 2 out of 15 in the industry

Here are more news stories which could affect stocks on world markets in trading later today.

The following companies should see some movement: Google Inc. (NASDAQ:GOOG), Citigroup Inc. (NYSE:C), Valero Energy (NYSE:VLO).

Here is a more detailed look at the news that will affect each company when trading continues.

Google Inc. (NASDAQ:GOOG)

Google Inc. (NASDAQ:GOOG) has planned to launch a new e-book venture.

Google Inc. (NASDAQ:GOOG) is in the final stages of launching its long-awaited e-book retailing venture. The e-books store is an extension of Google Inc.

(NASDAQ:GOOG)’s ambitious and sometimes controversial plan to scan the world’s 150 million or so books and make them accessible to users of Google Inc. (NASDAQ:GOOG)’s Web-search engine.

Scott Dougall, a Google Inc. (NASDAQ:GOOG) product management director said that, “Because of the complexity of this project, we didn’t want to come out with something that wasn’t thorough.”

Citigroup Inc. (NYSE:C)

Citigroup Inc. (NYSE:C) has appointed Gene Fang to its Asia-Pacific financial institutions group.

Citigroup Inc. (NYSE:C) said on Wednesday that it has appointed Gene Fang to its Asia-Pacific financial institutions group, focusing on executing and originating deals in the sector. Gene Fang, who will continue to be based in Hong Kong, joins from BNP Paribas SA (BNPQY), where he has worked in the corporate finance and financial institutions group since last year. Before that, he was in J.P. Morgan Chase & Co.’s financial institutions group in Singapore and Hong Kong from 2003.

According to data from Dealogic, Citigroup Inc. (NYSE:C) has been involved in more than US$50 billion worth of fundraising by Asia-Pacific financial institutions this year, including AIA Group Ltd.’s US$20.5 billion Hong Kong initial public offering in October.

Valero Energy (NYSE:VLO)

Valero Energy (NYSE:VLO) has shut down the fluid catalytic cracker at its refinery in Memphis.

A spokesman of the Valero Energy (NYSE:VLO) company said that, Valero Energy (NYSE:VLO) has shut the fluid catalytic cracker at its refinery in Memphis, Tennessee, to repair a wet gas compressor. According to the reports, the refinery has a daily crude oil processing capacity of 195,000 barrels.

Bill Day said in an interview that, “We have not come up with a timetable for repairs, and we won’t know the impact until we know how long the unit will be shut down. The catalytic cracker can process 70,000 barrels per day.”

We could possibly see more movement when trading continues for Google Inc. (NASDAQ:GOOG), Citigroup Inc. (NYSE:C) and Valero Energy (NYSE:VLO).

Here’s this week’s round-up of J.P. Morgan Chase & Co. (NYSE:JPM) stock briefings. J.P. Morgan Chase & Co. (NYSE:JPM) company shares ended the week at 39.17 (as of 9/3/2010).

Weekly News Roundup: J.P. Morgan Chase & Co. (NYSE:JPM)

Monday 30 August

A Zacks analyst report has defended JPMorgan Chase & Co. (NYSE:JPM) over mortgage modifications and HAMP.

JPMorgan Chase & Co.’s (NYSE:JPM) U.S. consumer and commercial banking arm Chase said on Wednesday that it has in fact offered more than 900,000 mortgage modifications since the beginning of 2009 in accordance with the Home Affordable Modification Program (HAMP), in efforts to reduce home foreclosure rates.

The company has met 140,000 homeowners in face-to-face counselling sessions in the hardest-hit areas of home foreclosure.

Wednesday 1 September

JPMorgan Chase & Co. (NYSE:JPM) is closing down its proprietary trading operations this month, and has notified its 20 or so proprietary-commodities traders that their positions will be eliminated, according to a person familiar with the matter.

Proprietary trading is simply when the company’s own traders actively trade securities with the company’s own money, as opposed to clients’.

Thursday 2 September

JPMorgan Chase & Co. (NYSE:JPM) did well Wednesday, leading a rally in the Dow Industrials as manufacturing data was released showing strength in the sector.

The company gained 1.38 points, or 3.8%, to end the day at 37.74. The Dow rose 254.75 points, or 2.54% to close at 10,269.47.

Friday 3 September

Chase Bank, an arm of JPMorgan Chase & Co. (NYSE:JPM) announced it is hiring 125 to 150 full-time workers for its Tempe, Arizona, operations center, said spokeswoman Mary Jane Rogers. The company will hold a job fair in downtown Phoenix on Sept. 9, in order to find the underwriters, closers, processors and managers it needs for it’s new branch.

We will be monitoring the J.P. Morgan Chase & Co. (NYSE:JPM) share price for developments over the next few weeks.

Here is another batch of stock briefings which may affect trading on Wall Street later today.

The following stocks should see some movement: J.P. Morgan Chase & Co (NYSE:JPM), Toyota Motor Corporation (NYSE:TM), BP plc (NYSE:BP).

Here is a more detailed look at the news that will affect each company when trading continues.

J.P. Morgan Chase & Co (NYSE:JPM)

A Zacks analyst report has defended JPMorgan Chase & Co. (NYSE:JPM) over mortgage modifications and HAMP.

JPMorgan Chase & Co.’s (NYSE:JPM) U.S. consumer and commercial banking arm Chase said on Wednesday that it has in fact offered more than 900,000 mortgage modifications since the beginning of 2009 in accordance with the Home Affordable Modification Program (HAMP), in efforts to reduce home foreclosure rates.

The company has met 140,000 homeowners in face-to-face counselling sessions in the hardest-hit areas of home foreclosure.

Toyota Motor Corporation (NYSE:TM)

Nissan seem to have poked fun at Toyota Motor Corporation (NYSE:TM) in a recent television marketing campaign. Toyota Motor Corporation (NYSE:TM) appears to be taking heat from rival Nissan’s new TV commercial advertising its brake-overriding “smart pedal” technology.

The ad appears to poke fun at Toyota, which has had serious issues with the brake systems in its cars, making extensive recalls necessary.

BP plc (NYSE:BP)

At a celebration of BP’s (NYSE:BP) centennial last October, CEO Tony Hayward boasted that the company “lives on the frontiers of the energy industry.”

So much has changed since then, with the Gulf of Mexico oil spill having put the company’s reputation in shambles.

Because of this, BP plc (NYSE:BP) recently failed to get a potentially lucrative drilling permit to drill for oil off the coast of Greenland, and may have to decline further opportunities in the future, until its wounds have healed from the pain of the Gulf of Mexico.

We could possibly see more movement when trading continues for J.P. Morgan Chase & Co (NYSE:JPM), Toyota Motor Corporation (NYSE:TM) and BP plc (NYSE:BP).

Here are this week’s stock briefs for J.P. Morgan Chase & Co. (NYSE:JPM). J.P. Morgan Chase & Co. (NYSE:JPM) shares ended the week at 36.6 (as of 8/27/2010).

Weekly News Roundup: J.P. Morgan Chase & Co. (NYSE:JPM)

Tuesday 24 August

JP Morgan Chase & Co. (NYSE:JPM) told clients in a note on Friday that they expect China’s GDP growth to fall in a near-term “loss of momentum” both in the U.S. and worldwide. J.P. Morgan (NYSE:JPM) expects these conditions to endure until at least the end of 2011.

Their previous estimate of 10 percent has been lowered to 9.8 percent for 2010, and as low as 8.6 percent for 2011.

Much of this is in relationship to China’s battle with their urban real estate markets, which are in danger of overheating.

Wednesday 25 August

J.P. Morgan Chase & Co. (NYSE:JPM) is now in a legal battle with – you guessed it – janitors. Two weeks ago, 19 janitors were laid off from their jobs in Century Plaza Towers, a ritzy Los Angeles building owned by JPMorgan Chase (NYSE:JPM).

The janitors recently staged a 3-day protest and hunger strike at the building, along with their comrades from the Service Employees International Union.

Union attorneys are calling these layoffs cold and heartless, considering the low pay the janitors receive and that J.P. Morgan Chase & Co. (NYSE:JPM) has just received a $95 billion taxpayer bailout.

We will continue checking the J.P. Morgan Chase & Co. (NYSE:JPM) stock level for developments over the next few weeks.

Several breaking news stories might affect stock prices as trading continues. The following listed companies should see some movement: Citigroup Inc. (NYSE:C), Microsoft Corporation (NASDAQ:MSFT) and J.P. Morgan Chase & Co. (NYSE:JPM).

Here is a more detailed look at the news that will affect each company when trading continues.

Citigroup Inc. (NYSE:C)

Citigroup Inc. (NYSE:C) could face increased profitability issues with the introduction of the CARD Act. The Act aims to protect the average consumer by limiting penalties, fees and interest rates, but for companies like Citigroup Inc. (NYSE:C), the bill makes matching a customer’s credit rate to their credit risk more complex than ever.

Microsoft Corporation (NASDAQ:MSFT)

The Microsoft Corporation (NASDAQ:MSFT) and Yahoo partnership announced back in 2009 has now come to fruition, with all Yahoo search requests now being processed by Microsoft Corporation (NASDAQ:MSFT).

The companies are still testing methods of moving Yahoo advertisers to Microsoft’s (NASDAQ:MSFT) search advertising platform.

J.P. Morgan Chase & Co. (NYSE:JPM)

J.P. Morgan Chase & Co. (NYSE:JPM) is now in a legal battle with – you guessed it – janitors. Two weeks ago, 19 janitors were laid off from their jobs in Century Plaza Towers, a ritzy Los Angeles building owned by JPMorgan Chase (NYSE:JPM).

The janitors recently staged a 3-day protest and hunger strike at the building, along with their comrades from the Service Employees International Union.

Union attorneys are calling these layoffs cold and heartless, considering the low pay the janitors receive and that J.P. Morgan Chase & Co. (NYSE:JPM) has just received a $95 billion taxpayer bailout.

We could possibly see more movement when trading continues for Citigroup Inc. (NYSE:C), Microsoft Corporation (NASDAQ:MSFT) and J.P. Morgan Chase & Co. (NYSE:JPM).

Here’s a run-down of J.P. Morgan Chase & Co. (NYSE:JPM) news stories from this week. J.P. Morgan Chase & Co. (NYSE:JPM) company shares ended the week at 37.5 (as of 8/13/2010).

Weekly News Roundup: J.P. Morgan Chase & Co. (NYSE:JPM)

Wednesday 11 August

As part of the process of expanding lending to apartment building owners, J.P. Morgan Chase & Co. (NYSE:JPM) has purchased a loan portfolio from Citigroup.

The $3.5 billion real-estate loan portfolio from Citigroup is mainly focused on multifamily loans, as well as a share of commercial real-estate.

Citigroup, on the other hand, has been preparing to sell loans and businesses that they have found to be unfit, in line with the company’s strategy post-recession.

We’ll be keeping a close eye on the J.P. Morgan Chase & Co. (NYSE:JPM) stock level for changes over the next few weeks.

Here are a number of breaking news stories which will affect stock prices as trading continues. The following companies should see some movement: Toyota Motor Corporation (NYSE:TM), J.P. Morgan Chase & Co. (NYSE:JPM) and Bank of America Corporation (NYSE:BAC).

Here is a more detailed look at the news that will affect each company when trading continues.

Toyota Motor Corporation (NYSE:TM)

The world’s largest carmaker said in a report that it has stopped shipments to Iran considering the present environment in the country. The statement also said that the company has been watching the situation closely in order to make the necessary decisions.

Though the US sanctions against Iran will not put restrictions on Toyota Motor Corporation (NYSE:TM)’s shipments to Iran, the company has reached the decision considering a rage of global factors.

J.P. Morgan Chase & Co. (NYSE:JPM)

As part of the process of expanding lending to apartment building owners, J.P. Morgan Chase & Co. (NYSE:JPM) has purchased a loan portfolio from Citigroup.

The $3.5 billion real-estate loan portfolio from Citigroup is mainly focused on multifamily loans, as well as a share of commercial real-estate.

Citigroup, on the other hand, has been preparing to sell loans and businesses that they have found to be unfit, in line with the company’s strategy post-recession.

Bank of America Corporation (NYSE:BAC)

Giving credibility to the company, Bank of America Corporation (NYSE:BAC) became the most upfront in interest rates disclosures, rewards and fees on credit cards.

The report by CardHub.com places Bank of America Corporation (NYSE:BAC) on top, along with Capital One.

The report is also an indication of customer satisfaction rates of the companies with regard to credit cards, which is an extremely positive sign for the company moving forward.

Expect more movement when trading continues for Toyota Motor Corporation (NYSE:TM), J.P. Morgan Chase & Co. (NYSE:JPM) and Bank of America Corporation (NYSE:BAC).