Finance Latest News: JPMorgan Reports 31% Rise in Quarterly Profit

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Finance Latest News: JPMorgan Reports 31% Rise in Quarterly Profit

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Finance Latest News: JPMorgan Reports 31% Rise in Quarterly Profit

by Wochit 1:02 mins

Finance Latest News: JPMorgan Reports 31% Rise in Quarterly Profit

by Wochit 1:02 mins

JPMorgan Chase reported a 31% rise in quarterly profit as trading revenue rebounded and the biggest U.S. bank by assets avoided another 'London Whale' derivatives loss. At least three shareholders who collectively hold nearly 3 percent of Dell Inc shares plan to vote against Michael Dell's $24.4 billion buyout offer, raising questions about proxy adviser Institutional Shareholder Services' sway with the PC maker's shareholders. In an email to Reuters, an ISS spokesperson defended supporting the deal. "ISS' role is to analyze the deal and make a recommendation that we see as being in the best interest of shareholders. That's what we've done," the email said. "At the end of the day however, as with any proxy vote, shareholders will make their own decisions based on their own circumstances," she said. Investors in funds based in the U.S. have poured $11.84 billion into stock funds, the most since late January, data from Thomson Reuters Lipper service shows. The renewed appetite for stock funds comes as stocks rose on strong U.S. jobs data and optimism heading into the corporate earnings season.

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