From the WSJ: J.P. Morgan Chase & Co. suspended share repurchases just
two months after announcing a giant buyback program, in the latest fallout from
the trading blunder that has cost the company at least $2 billion in losses,
hammered its stock price and tarnished its reputation as the best-managed big
U.S. bank.
CEO Dimon told investors and analysts at a conference Monday
that the New York company stopped the buybacks out of an abundance of caution
and compliance with a new set of international capital guidelines, saying in
reference to money-losing trades that "we want to box this thing
first." ...
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