JP Morgan £1.2bn trading loss
The US' biggest bank JP Morgan Chase has revealed it lost $2bn (£1.2bn) on complex investments made by its traders intended to protect the firm from price fluctuations on the value of its assets.
JP Morgan's share price tumbles after trader losses
The share price of America's biggest bank tumbled today, after overnight revelations that a team of its traders lost more than a billion pounds.
The Chief Executive of JP Morgan said errors, sloppiness and bad judgement were to blame.
Romily Weeks explains:
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