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Posted On: 04/12/2013 10:00:32 AM
Post# of 28539
Posted By: testdemo
JPMorgan net up as "Whale" fades, but key units tepid

Jamie Dimon answers a question at the U.S. Senate Banking, Housing and Urban Affairs Committee hearing in Washington By David Henry and Dan Wilchins NEW YORK (Reuters) - JPMorgan Chase & Co posted higher first-quarter profit on Friday as it spent less money on litigation, but most of its major businesses turned in tepid performances, and the bank's overall revenue declined. The results reflected the pressure the largest U.S. bank is under even as it recovers from the disastrous "London Whale" trading losses that cost more than $6 billion last year. JPMorgan's shares fell 1 percent to $48.80 in premarket trading. Profit in its consumer banking segment fell 12 percent to $2. ...



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