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Economy
In reply to the discussion: STOCK MARKET WATCH -- Monday, 21 May 2012 [View all]Demeter
(85,373 posts)69. EXTRA! EXTRA! JPMorgan suspends share buybackS
JPMorgan Chase is suspending its share buybacks, chief executive Jamie Dimon said on Monday the latest fallout from a shock $2bn trading loss in the banks chief investment office.
The bank was given permission by the Federal Reserve in March to return more capital to shareholders after it successfully passed stress tests on its balance sheet.
Announcing the suspension of the buyback at a conference hosted by Deutsche Bank, Mr Dimon said obviously were not going to make as much money.
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http://link.ft.com/r/KC2844/VLILSC/87I64/DWNIUA/II2O6U/VU/t?a1=2012&a2=5&a3=21
NEXT IT WILL BE THE SOFA CUSHIONS IN THE WAITING ROOMS
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