<< Read Full Article
<< Read Full Article
J.P. Morgan to Buy Stake in Sony's Online Bank Venture
Updated from 8:09 a.m. EST
J.P. Morgan(JPM Quote) said Thursday it will take a stake in a new online banking venture being formed by Sony(SNE Quote) in a rare move to break into the traditionally impenetrable Japanese banking industry.
The Wall Street institution is likely to buy roughly a 4% share in the new bank. The venture is also being backed by major Japanese bank Sakura Bank, which will take a 16% stake and provide physical access to accounts through its existing automated teller machine network.
Recent Comments
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,344.84 | 1,095.63 | 2,144.60 | 32.01 |
Oil *
78.55
|
|
UP
34.92
|
UP
4.14
|
UP
6.16
|
DOWN
0.30
|
10 Yr
3.20%
SPDR Gold
115.65
|
|
+0.34%
|
+0.38%
|
+0.29%
|
-0.93%
|
Data delayed 20 minutes |
Connect with TheStreet