JPMorgan to take over Apple’s $20bn credit card portfolio from Goldman Sachs
Deal extricates lender from one of the last businesses related to its ill-fated push into retail banking
Deal extricates lender from one of the last businesses related to its ill-fated push into retail banking

US’s biggest bank also lifts loan loss provisions after agreeing to take over Apple’s credit card portfolio

JPMorgan Chase, Goldman Sachs and Citigroup buoyed by return of dealmaking

Rising costs in consumer unit are a ‘big part’ of overall increase in spending

Concerns mount about hidden exposure to private capital firms and hedge funds in wake of credit market wobbles

Devaluation of collateral will limit credit to firms that have become top lenders to higher-risk companies

Revival in core Wall Street businesses powers forecast-beating results across America’s biggest banks