Weekly Financial Biz Roundup: JP Morgan Chase Banking Fees Collapse, Carlyle Group Aims for IPO

CME Group (NASDAQ:CME) hit fresh 52-week lows as the Commodity Futures Trading Commission reportedly expanded its MF Global investigation to include activity at the futures exchange.

Investing Insights: Can Precious Metals Overcome U.S. Dollar Strength?

HSBC (NYSE:HBC), PNC (NYSE:PNC), MetLife (NYSE:MET), SunTrust (NYSE:STI) and U.S. Bancorp (NYSE:USB) will most likely join a wide-ranging mortgage settlement in the works with the Justice Department, who is reported to be reaching out.

Investing Insights: Are Investors Getting Physical With Gold and Silver?

The NYSE Euronext (NYSE:NYX) – Deutsche Boerse merger may be thrown in the trash by the European Union. However, the exchanges have signaled they are committed to seeing the process through and are engaging in a vigorous lobbying campaign to reverse the decision.

Virtus Investment Partners (NASDAQ:VRTS): the S&P announced the company will be added to its Midcap 400 Index.

Investing Insights: The Bank of New York Mellon Corp Fourth Quarter Earnings Sneak Peek.

Bank of America (NYSE:BAC) and Citigroup (NYSE:C) overcharged customers on force-place insurance. JPMorgan (NYSE:JPM) and Wells Fargo (NYSE:WFC) may also be part of the probe conducted by New York’s financial regulator.

Carlyle Group will list on NASDAQ (NASDAQ:NDAQ) under the symbol “CG.” The firm’s nine-month net profit and revenue jumped around to $918.1 million (60%) and $2.01 billion respectively. Rising profits allowed Carlyle’s founders to receive a combined $413 million last year.

Northern Trust (NASDAQ:NTRS) may cut up to $175 million from its costs which is close to 6% of its annual expenses, according to a report from Crain’s.

Goldman Sachs‘ (NYSE:GS) global securities division lost two co-heads due to retirement. Goldman has laid off more than 1,000 people and seen the exodus of a handful of its 450 partners in recent months.

Investing Insights: JPMorgan Chase & Co. Fourth Quarter Earnings Sneak Peek.

RBS (NYSE:RBS) said it plans to cut 3,500 jobs as part of a shake-up of its investment bank. RBS also plans to exit its cash equities, corporate broking, equity capital markets, and M&A businesses.

KeyCorp (NYSE:KEY) snatched up 37 branches in northern New York, with $2.4 billion in deposits, for a deposit premium of $110 million. KEY’s new branches are from First Niagara (NASDAQ:FNFG), which bought them from HSBC (NYSE:HBC). The government had told First Niagara it would have to sell at least 26 HSBC branches. It is now the biggest bank in upstate New York.

Don’t Miss: Major Banks, Credit Card Companies Named in Multi-Billion Dollar Antitrust Suit.

Visa (NYSE:V), MasterCard (NYSE:MA) and 13 large banks, including Bank of America (NYSE:BAC), Citigroup (NYSE:C) and JPMorgan (NYSE:JPM), face billions of dollars in liabilities in a lawsuit from five million retailers. The retailers accuse the defendants of illegally colluding to overcharge for credit card transactions.

Deutsche Bank (NYSE:DB), which launched a “strategic view” of its asset management business in the fall, has “received more than 10 attractive offers” related to the business, with six of the bidders offering to acquire it in full, reports a Dow Jones source. It is said to be hoping for a sale price of around 2 billion euro and Goldman Sachs (NYSE:GS) may be one of the interested parties.

Raymond James (NYSE:RJF) agreed to purchase Morgan Keegan from Regions Financial (NYSE:RF).

Bank of America (NYSE:BAC) reportedly told United States regulators it is willing to withdraw from some parts of the country if its financial problems worsen. Some sources say that a potential retreat was listed as emergency scenario last year. The list also included a potential sale of a separate class of shares tied to the performance of Merrill Lynch.

ING (NYSE:ING) outlined plans at its Investor Day meeting to disallow the payout of dividends until it repays the government bailout. Its priorities for 2012-2013 not only include repaying its government bailout, but also completing its restructuring requirements and complying with Basel III capital levels.

JPMorgan Chase & Co. (NYSE:JPM) kicked off earnings season for banks and disappointed investors. Fixed income revenue was $2.5 billion, which was off 13% from last quarter. Investment banking fees were off 39% and mortgage loan originations were off 24% year-over-year. Investment banking fees totaled $1.1 billion, and mortgage loan originations totaled $38.6 billion, and were off 5% quarter-over-quarter.

Investing Insights: PNC Financial Services Fourth Quarter Earnings Sneak Peek.

To contact the reporter on this story: Tanya Harding at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com