Here are this week’s news briefs for JP Morgan Chase & Co. (NYSE:JPM). JP Morgan Chase & Co. (NYSE:JPM) company shares ended the week at 45.29 (as of 1/21/2011).
Weekly News Roundup: J.P. Morgan Chase & Co. (NYSE:JPM)
Monday 17 January
J.P. Morgan Chase & Co. (NYSE:JPM) has been asked to back credit efforts in China.
The state planning body of China has asked J.P. Morgan Chase & Co. (NYSE:JPM) to invest in some schemes that offer credit guarantees to small and medium sized enterprises in the country, an initiative aimed at helping these small and medium sized firms find financing support.
The persons familiar with the issues said that the news has met with mixed reception at the firm.
Tuesday 18 January
J.P. Morgan Chase & Co. (NYSE:JPM) has reported that Korean borrowers are targeting Asia currency demand.
The company said in a statement that the Korean companies can cut their funding costs in 2011 as the investors are speculating exchange rate appreciation.
Murlidhar Maiya, J.P. Morgan Chase & Co. (NYSE:JPM)’s head of emerging Asia debt capital markets, said that, “Investors are very interested in taking exposure to Asian currencies, and South Korean borrowers are looking at arbitrage opportunities between different markets.
Highly-rated Korean issuers are “well placed” to attract buyers seeking to limit risk while betting on currencies such as the Philippine peso and Indonesian rupiah”.
Wednesday 19 January
J.P. Morgan Chase & Co. (NYSE:JPM) has sold its first sterling-denominated bond since 2008.
For the first time in more than two years, J.P. Morgan Chase & Co. (NYSE:JPM) sold bonds denominated in British Pounds.
The company had announced a record fourth quarter profit last week.
According to data revealed by Bloomberg, the second largest US bank by assets issued $799 million-worth of 4.25 percent six-year notes having yielding points of 150.
J.P. Morgan Chase & Co. (NYSE:JPM) last issued bonds in British currency in December 2008.
Thursday 20 January
Two top executives at J.P. Morgan Chase & Co. (NYSE:JPM) have sold shares totalling $5.5 million.
Although the company reported an impressive result for the fourth quarter, two top level executives sold shares worth $5.5 million.
Heidi Miller, an executive vice president, sold his 69,298 shares on Jan. 18 for $3.1 million or $44.97 each on average. Mary Erdoes, a managing director, sold 53,000 shares for $2.4 million, or about $45.05 each.
J.P. Morgan Chase & Co. (NYSE:JPM) did not comment on the news.
Friday 21 January
J.P. Morgan Chase & Co. (NYSE:JPM) has hired James Woolery as the co-head of North American mergers.
The company announced the arrival of James Woolery, a partner at the law firm Cravath, as part of the management changes in the investment banking group.
According to the statement from J.P. Morgan Chase & Co. (NYSE:JPM),Chris Ventresca, who has co-managed the North American mergers and acquisitions division for the last two years, will be remaining a co-head with Woolery.
We will continue checking the JP Morgan Chase & Co. stock level for changes over the next couple of weeks.