Economy - Voice of America: JPMorgan Loss Hits $5.8 Billion

Economy - Voice of America economy-and-business

JPMorgan Loss Hits $5.8 Billion Jul 13th 2012, 13:50 The largest U.S. bank, JPMorgan Chase, says it lost $5.8 billion in bad trades this year, nearly triple its original estimate. The Wall Street investment bank said two months ago it estimated that losses originating in its London trading office would total about $2 billion. But in a new earnings statement Friday, the bank said it lost $4.4 billion in the April-to-June period and an additional $1.4 billion earlier this year and in the first days of this month. The bank's chairman, Jamie ... Media files: 6F0B3878-EA71-4D15-BB7D-EC330D2A5A23_cx0_cy6_cw0_w800_r1.jpg (image/jpeg, 0 MB)

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