Bank blitz

JPMorgan Chase and Bank of America joined Wall Street rival Gold man Sachs in recording no losses from trading during the first quarter. JPMorgan generated average revenue of be tween $60 million and $90 million, while BofA traders produced daily profits of at least $25 million during 95 per cent of 63 trading days in the period.

GM plans

GM may return to the auto-lending business more than three years after selling control of GMAC, which is 56-percent owned by the US Treasury.

Toyota rise

Toyota, the world’s largest carmaker, pre dicted its fiscal year profit will rise 48 per cent as it recovers from its product recalls and benefits from expand ing sales in China.

Bad medicine

Drugmaker Pfizer plans to lay off or relo cate some of 4,400 Manhattan-based em ployees.

FDIC rules

The FDIC is propos ing stricter rules for as set- backed securities, the bundles of loans that helped spark the market collapse in 2008 and the near-meltdown of the financial system.