Report: JPMorgan Chase Trading Loss Could Rise to $9 Billion
Peter Foley/Bloomberg via Getty Images(NEW YORK) — Trading losses at JPMorgan Chase may be much bigger than previously thought.Citing people familiar with the matter, The New York Times reports the bank’s losses may have ballooned to as much as $9 bil…
JPMorgan Execs to Hear from Shareholders Following $2B Loss
STAN HONDA/AFP/Getty Images(TAMPA, Fla.) — JPMorgan Chase executives are likely to get an earful from shareholders on Tuesday when they convene in Tampa, Fla.The bank’s $2 billion in-house trading operating loss is expected to be a hot topic at the an…
JPMorgan Execs Behind $2 Billion Trading Loss Expected to Resign
STAN HONDA/AFP/Getty ImagesUPDATE: Ina Drew, the chief investment officer at JPMorgan Chase, “has made the decision to retire from the firm,” the company announced on Monday.In a statement, JPMorgan said Drew will be succeeded by Matt Zanes, the curren…
JPMorgan Trading Loss Roils Markets, Raises Fears About Bank Risks
STAN HONDA/AFP/Getty Images(NEW YORK) — JP Morgan Chase & Co. is rocking the financial markets with the disclosure that its in-house trading operating lost $2 billion in the past six weeks, raising new questions about whether the big banks that ca…
Sony Bumps Up Projected Annual Net Loss to Record $6.4B
AFP/AFP/Getty Images(TOKYO) — Sony revised its forecast for its 2011 fiscal year on Tuesday, projecting a record annual net loss of 520 billion yen, or $6.4 billion.That’s more than double the 220 billion yen the Japanese electronics giant had estimat…