Tag: World News

Bank Order Led to Losing Trades

J.P. Morgan’s Efforts to Shield Itself From European Market Fallout Prompted Disastrous Bets
J.P. Morgan Chase & Co. told traders several months ago to make bets aimed at shielding the bank from the market fallout of Europe’s deepening mess. But instead of shrinking the risk, their complicated bets backfired into losses of as much as $200 million a day in late April and early May, people familiar with the situation said.

Depletion of North Sea reserves to affect heating oil prices?

Depletion of North Sea reserves to affect heating oil prices?

This is because, according to a diplomatic cable obtained by WikiLeaks and
reported by the Scotsman, concerns have been raised that the North Sea is
running out of the resource. The 2008 memo from then energy minister
Malcolm Wicks to the US government …