[
    {
        "header": "rpt-update 2-jpmorgan ceo sees more bank consolidation ahead",
        "body": "* Credit card business is most under stress (Recasts; Adds Dimon\u2019s comments on economy, April trading)\n\nNEW YORK, May 4 (Reuters) - JPMorgan Chase & Co (JPM.N) may be called on by regulators for more acquisitions, as the U.S. banking sector is likely to see further consolidation, Chief Executive <NAME> said on a webcast call on Monday.\n\n\u201cThere are still too many banks in the United States,\u201d Dimon told Calyon Securities analyst <NAME> on the call.\n\nJPMorgan last year purchased Bear Stearns Cos at a fire-sale price and snapped up the assets of failed Seattle thrift Washington Mutual Inc.\n\nThe second-largest bank is busy absorbing these acquisitions, Dimon said, but added that regulators may still look to JPMorgan to \u201cdo something\u201d in terms of acquisitions.\n\nJPMorgan is also looking to grow outside of the United States by expanding existing businesses in countries like Brazil, China, India and Russia, he said.\n\nConsumer businesses in the United States remain under stress and the credit card business in particular is suffering, according to Dimon, who added that he expects these businesses to shrink over the next two years.\n\n\u201cUnemployment and home prices (are) driving losses way beyond what we expected, even (with) unemployment like this,\u201d he said.\n\nDiscussing the broader economic outlook, however, Dimon said the pace of decline has slowed.\n\n\u201cI don\u2019t know if I call it bottoming out, but kind of a crawling along the bottom here -- maybe a little bit better,\u201d he said.\n\nJPMorgan posted a better-than-expected first-quarter profit in April, largely helped by trading gains and a surge in underwriting revenue at its investment banking unit, and Dimon warned in a call with analysts last month that those conditions were unlikely to continue into the second quarter.\n\nWhen Mayo asked him on Monday about April\u2019s trading performance, he declined comment. (Reporting by <NAME>; editing by <NAME> and <NAME>)",
        "link": "http://www.reuters.com/article/americasMergersNews/idUSN045920090504",
        "time": "01:16 PM EDT"
    },
    {
        "header": "jpmorgan ceo sees more bank consolidation ahead",
        "body": "NEW YORK (Reuters) - JPMorgan Chase & Co (JPM.N) may be called on by regulators for more acquisitions, as the U.S. banking sector is likely to see further consolidation, Chief Executive <NAME> said on a webcast call on Monday.\n\n\u201cThere are still too many banks in the United States,\u201d Dimon told Calyon Securities analyst <NAME> on the call.\n\nJPMorgan last year purchased Bear Stearns Cos at a fire-sale price and snapped up the assets of failed Seattle thrift Washington Mutual Inc.\n\nThe second-largest bank is busy absorbing these acquisitions, Dimon said, but added that regulators may still look to JPMorgan to \u201cdo something\u201d in terms of acquisitions.\n\nJPMorgan is also looking to grow outside of the United States by expanding existing businesses in countries like Brazil, China, India and Russia, he said.\n\nConsumer businesses in the United States remain under stress and the credit card business in particular is suffering, according to Dimon, who added that he expects these businesses to shrink over the next two years.\n\n\u201cUnemployment and home prices (are) driving losses way beyond what we expected, even (with) unemployment like this,\u201d he said.\n\nDiscussing the broader economic outlook, however, Dimon said the pace of decline has slowed.\n\n\u201cI don\u2019t know if I call it bottoming out, but kind of a crawling along the bottom here -- maybe a little bit better,\u201d he said.\n\nJPMorgan posted a better-than-expected first-quarter profit in April, largely helped by trading gains and a surge in underwriting revenue at its investment banking unit, and Dimon warned in a call with analysts last month that those conditions were unlikely to continue into the second quarter.\n\nWhen Mayo asked him on Monday about April\u2019s trading performance, he declined comment.",
        "link": "http://www.reuters.com/article/innovationNewsFinancialServicesAndRealEstate/idUSTRE5434LO20090504",
        "time": "02:50 PM EDT"
    }
]