JPMorgan Chase & Co’s first-quarter profit rose 33% to a record, beating analysts’ estimates on cost cuts and an improvement in consumer credit quality that let the bank reduce loan-loss reserves.

The FBI has opened a probe into trading losses at JPMorgan Chase & Co, stepping up the pressure on the bank after the US Securities and Exchange Commission and the Federal Reserve said they were also looking into the wrong-way bets that led to the losses.

The chief investment officer at the US’s biggest bank is to step down after it unveiled shock $2bn (€1.55bn) losses last week.

JP Morgan Chase chief investment officer Ina Drew, one of the highest-placed women on Wall St, is to retire in the wake of the bank's $2bn (€1.5bn) trading blunder, it has been announced.

America’s biggest bank is expected to accept the resignation of one of the highest-ranking women on Wall Street after it lost $2bn in a trading blunder, a person familiar with the matter said.

JPMorgan Chase & Co, the biggest US bank by assets, says it has suffered a trading loss of at least $2bn (€1.53bn) from a failed hedging strategy, a shock disclosure that hit financial stocks and the reputation of the bank and its chief executive Jamie Dimon.

America’s largest bank JPMorgan Chase lost $2bn in the past six weeks in a trading portfolio designed to hedge against risks the company takes with its own money.

Hundreds of anti-Wall Street protesters held a “Millionaires March” past the homes of some of the wealthiest executives in America, stopping to jeer “Tax the rich!” and “Where’s my bailout?”

US giant JP Morgan Chase is set to unveil a multibillion dollar bonus pot when it kicks off the results season for Wall Street banks today.

Banking giant JP Morgan may scrap plans to build a new £1.5bn (€1.66bn) headquarters in London due to the British Government’s bonus tax and tougher City regulations, it was reported today.