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$JPM's Consumer & Community Banking generated $2.6Bil of net income and ROE of 20% in 3Q15. Revenue for the quarter was down 4% YoverY to $10.9Bil, driven by mortgage on lower net servicing revenue. $JPM is on track to deliver expense reduction and YTD expenses were down around $600MM.
$GOOG’s Waymo accuses Uber of stealing its intellectual property. Startup Otto, which was recently acquired by Uber, also named in the lawsuit. Stage set for another dramatic legal battle!
We all knew $VALE CEO Murilo Ferreira was going out soon, but now I hear he has no idea who will succeed him!
$JCP, another traditional retailer that just shocked us with its biggest number of store closures.