JPMorgan Chase announced a $5 billion equity investment in sectors critical to US national security, part of a broader $1.5 trillion financing initiative launched a year ago.
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Senior banking executives expect the sector to face tax hikes in Chancellor John Healey's Budget. UK Finance warns that further increases would weaken competitiveness and discourage investment.
JPMorgan Chase reported a profit of US$5.57 per share for the third quarter, missing analyst estimates of US$5.85. The bank cited reduced dealmaking and bond trading activity as key factors.
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