JPMorgan: We’re bracing for energy losses

Financial Crisis - Public Domain

JPMorgan Chase is adding another layer in its capital buffer against energy, metals and mining loan losses, setting aside $600 million for losses, executives announced Tuesday.

The bank also warned that first quarter revenue from investment banking fees is down about 25 percent year over year, with markets revenue down 20 percent from a year earlier. Shares traded near their lows of the day after the warning.

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