JP Morgan loses $2bn in six weeks

America’s largest bank JPMorgan Chase lost $2bn in the past six weeks in a trading portfolio designed to hedge against risks the company takes with its own money.

JP Morgan loses $2bn in six weeks
Fri, 11 May, 2012 - 08:22

America’s largest bank JPMorgan Chase lost $2bn in the past six weeks in a trading portfolio designed to hedge against risks the company takes with its own money.

The company’s stock plunged almost 7% in after-hours trading after the loss was announced. Other bank stocks, including Citigroup and Bank of America, suffered heavy losses as well.

You have reached your article limit. Already a subscriber? Sign in

Continue reading for €5

Unlock unlimited access and exclusive benefits

CONNECT WITH US TODAY

Whatsapp logo

WHATSAPP

Newsletter logo

NEWSLETTERS

Notification logo

NOTIFICATIONS

Be the first to know the latest news and updates

More in this section

Government expands buy and renew scheme to include building contractors Government expands buy and renew scheme to include building contractors
Ireland-headquartered Smurfit targets 40% rise in profit to $7bn by 2030 Ireland-headquartered Smurfit targets 40% rise in profit to $7bn by 2030
Man going on summer vacation Booking a holiday? Here's how to avoid scam websites, lost deposits and missed flights
CourtsBusinessHeathrowPlace: AmericaPlace: LondonPerson: Jamie DimonPerson: DimonPerson: Michael GreenbergerPerson: GreenbergerPerson: Senator Carl LevinOrganisation: JP MorganOrganisation: JPMorgan ChaseOrganisation: CitigroupOrganisation: Bank of AmericaOrganisation: JPMorganOrganisation: Bloomberg NewsOrganisation: Morgan StanleyOrganisation: Goldman SachsOrganisation: Federal ReserveOrganisation: Commodity Futures Trading CommissionOrganisation: AIGOrganisation: UniversityOrganisation: Michigan
<p>Under the model, the HCCI said that home care referrals are issued simultaneously to all approved providers, who must respond immediately to secure the allocation.</p>

Home care firms want HSE to end home support allocation model

READ NOW

The Business Hub

Newsletter

News and analysis on business, money and jobs from Munster and beyond by our expert team of business writers.

Latest

Business

Push Notifications

By clicking on sign up you will be the first to know about a selection of business content on this browser. Please note if you are unable to sign up via your mobile web browser, download and sign up for mobile push notifications via our FREE news app.

Sign Up
IE logo
Devices


UNLIMITED ACCESS TO THE IRISH EXAMINER FOR TEAMS AND ORGANISATIONS
FIND OUT MORE

The Business Hub

Newsletter

News and analysis on business, money and jobs from Munster and beyond by our expert team of business writers.

Fergus Finlay
Fergus Finlay

Analysis

Lunchtime News

Newsletter

Keep up with stories of the day with our lunchtime news wrap and important breaking news alerts.

Most Read

Cookie Policy Privacy Policy Brand Safety FAQ Help Contact Us Terms and Conditions

© Examiner Echo Group Limited