JPMorgan (JPM) Declares $0.56 Quarterly Dividend; 2% Yield

A bid to save $300 million at HCR ManorCare, and disrupt U.S. healthcare

May 15, 2018 7:04 AM EDT

By Tracy Rucinski

CHICAGO (Reuters) - Thomas DeRosa is making a $4 billion bet that he can build a national, low-cost healthcare network for America's aging population that will succeed where so many other models have struggled.

His secret: strip out the "for-profit" business model, and leverage the real estate in nursing homes for outpatient care.

DeRosa's strategy starts with buying out the property of the huge bankrupt nursing home chain HCR ManorCare, and teaming up with a non-profit hospital operator, ProMedica, to create a 30-state healthcare system.

His own company, real estate investment trust Welltower... More

JPMorgan poaches Wells Fargo banker for entertainment group - sources

May 14, 2018 7:02 AM EDT

By Liana B. Baker

(Reuters) - JPMorgan Chase & Co (NYSE: JPM) has hired Reginald Lang, the head of media investment banking at Wells Fargo & Co (NYSE: WFC), to work for its entertainment industries group, which provides financing to TV and film studios, people familiar with the matter said.

The group, which is part of JPMorgan's... More

JPMorgan applies to set up majority-owned securities business in China

May 14, 2018 1:46 AM EDT

By Sumeet Chatterjee

HONG KONG (Reuters) - JPMorgan Chase & Co (NYSE: JPM) said on Monday it has applied to China's securities regulator to set up a securities business in which the U.S. bank would own a majority stake under recently relaxed ownership rules.

The unit, in which JPMorgan would own 51 percent, would allow the firm's corporate and investment banking divisions to seek more Chinese clients on the mainland in an effort to expand and grow their businesses, JPMorgan said in a statement.

... More