“…The crisis at JP Morgan escalated yesterday as it emerged its trading losses in London could rise to as much as $7bn (£4.5bn) – and the US bank cancelled a share buyback.
Fears were growing that the losses could spiral from an initial $2bn which was declared on 10 May -
- as JP Morgan struggles to unwind the massive bets made by the so-called “London Whale” trader Bruno Iksil…”
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Double trouble at JP Morgan: trader’s losses could exceed $7bn – Americas – World – The Independent.
