JPMorgan Chase cancels IBM outsourcing contract
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The termination of the $5 billion deal stands in opposition to a trend toward more IT outsourcing.
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JP Morgan Chase &amp; Co. (JPM.N: Quote, Profile, Research) , the No. 2 US bank, said on Wednesday profit fell in the third quarter, missing analyst expectations, as a result of costs from its July merger with Bank One Corp.
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JPMorgan Chase &amp; Co., the second- biggest US bank, said Chief Financial Officer Dina Dublon will resign and be replaced by Michael Cavanagh, now head of the company&#39;s business of lending to mid-size companies.
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WASHINGTON  - J.P. Morgan Chase & Co.  said on Wednesday it was canceling a $5 billion outsourcing deal with IBM Corp.,  and planned to rehire about 4,000 workers who had been transferred to IBM under the pact.
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A unit of JPMorgan Chase & Co. JPM.N   botched a trade for a basket of Japanese stocks on Monday when   it mistakenly sold shares linked to the wrong index, helping   spark a brief fall in the market.
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BOSTON -- IBM Corp. laid off 1,570 people Wednesday, primarily from an ongoing overhaul of operations in its giant technology services unit.
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IBM Corp. said Wednesday it cut 1,753 jobs, mostly in its U.S. technology-services unit, as part of a continuing operations overhaul.
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IBM Corp. said Monday it has won a $1.4 billion outsourcing contract from AstraZeneca PLC, a seven-year deal aimed at helping the British pharmaceutical company manage its internal technology operations.
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JP Morgan Chase president and chief operating officer Jamie Dimon believes technology is better done in-house. By Paul McDougall. Executives at IBM Global Services must have cringed earlier this year upon hearing
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U.S. investment bank Morgan Stanley  denied a newspaper report on Saturday which said it was putting its Indian business process outsourcing (BPO) operation, Morgan Stanley Advantage Services Pvt Ltd (MSAS), up for sale.
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JPMorgan Chase & Co  said on Wednesday quarterly profit fell a worse-than-expected 24 percent as the No. 3 U.S. bank lost $1.3 billion on risky mortgages and set aside more money for rising losses on home-equity and auto loans.
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JP Morgan Chase &amp; Co. on Tuesday shuffled top management at the firm which led to chief financial officer Dina Dublon resigning from the Wall Street giant and investment banking chairman David
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JPMorgan Chase &amp; Co. plans to undo a technology outsourcing deal with International Business Machines Corp., taking back about 4,000 employees and contractors from the computer giant.
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SEOUL -- US private-equity group Lone Star Funds said yesterday it was terminating a contract to sell its controlling stake in a South Korean bank, scrapping a deal worth billions of dollars amid a high-profile probe by prosecutors.
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The cancellation of a $5 billion outsourcing contract with J.P. Morgan Chase reveals a huge potential exposure for I.B.M.
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NEW YORK - IBM Corp. lost one of its highest-profile outsourced-IT clients on Wednesday, as JPMorgan Chase & Co. said it is canceling the remaining portion of a contract that was intended as a seven-year, $5 billion deal.
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An early end to International Business Machines Corp.&#39;s contract with JP Morgan Chase &amp; Co. reveals how mega information-technology outsourcing deals are falling out of favor, with both IT services companies and their customers.