Saturday, October 12, 2013

JP MORGAN POSTS LOSS

JPMorgan Chase  which paid a whopping $920 million legal charges to settle  cases related to trading scandal has reported a loss in the third quarter amounting to $380m, as compared with a profit of $5.7bn in the same period last year.

JP Morgan is currently in talks with the US government over a potentially huge settlement relating to the sale of mortgage-related investment products in the run-up to the financial crisis.

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