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JPMorgan says bad trade has ballooned to $5.8B

JP Morgan Chase

JPMorgan Chase said Friday that a bad trade had cost the bank $5.8 billion this year, almost triple its original estimate, and raised the prospect that traders had improperly tried to conceal the blunder.

 

Judge orders JPMorgan to explain withholding emails

A U.S. judge has ordered JPMorgan Chase & Co to explain why the court should not force the bank to turn over 25 internal emails demanded as part of an investigation into whether it manipulated electricity markets in California and the Midwest.

 

Report: JPMorgan trading losses may reach $9B

Shares of JPMorgan Chase & Co. tumbled in premarket trading Thursday as a published report said that the bank's losses on a bad trade may reach as much as $9 billion - far higher than the estimated $2 billion loss disclosed last month.

 

Moody's cuts credit ratings on 15 major banks

JP Morgan Chase

Moody's Investors Service lowered the credit ratings of 15 major banks Thursday, including Bank of America, JPMorgan Chase and Goldman Sachs, saying their long-term prospects for profitability and growth are shrinking. The ratings agency said it was especially concerned about banks with significant financial markets businesses because those markets have become so volatile. Some of the largest European banks were also downgraded, including Barclays, Deutsche Bank and HSBC.

 

DealBook: Live Blog: Senate Banking Hearing on JPMorgan

Jamie Dimon, the chief executive of JPMorgan Chase, is testifying on Capitol Hill about a failed derivatives trade that could cost the bank as much as $5 billion in losses.

 

MF's Bank Returns $600 Million

MF Global

J.P. Morgan Chase has returned roughly $600 million that was ensnared at the bank when MF Global collapsed in October.

 

Regulators, investors turn up heat over Facebook IPO

Two top U.S. financial regulators said on Tuesday the issues around the initial public offering of Facebook should be reviewed, putting fresh pressure on the company, its lead underwriter, Morgan Stanley, and the Nasdaq stock exchange.

 

JPMorgan’s debacle, and its parallels to AIG

JP Morgan Chase

Last week, the once-future Treasury secretary and current JPMorgan Chase CEO Jamie Dimon revealed a $2 billion loss. This previously undisclosed derivative trade should be a wake-up call for those claiming that finance has been “reined in” and no longer presents a threat to the global economy.

 

J.P. Morgan to Give $168 Million to MF Global Trustee

J.P. Morgan agreed to hand over $168 million to a bankruptcy trustee representing customers of MF Global. The trustee, James Giddens, said in a statement Friday that the money paid "represents the proceeds of excess collateral" that the New York bank "held" when MF Global tumbled into bankruptcy Oct. 31.

Senh: So there's some of the missing money from MF Global. Where are the rest of it?

 

JPMorgan exec expected to resign, AP source says

JPMorgan Chase is expected to accept the resignation of one of the highest-ranking women on Wall Street after the bank lost $2 billion in a trading blunder, a person familiar with the matter said Sunday....

 

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