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JPMorgan posts 12 pct decline in ‘13 commodities revenues-filing

Posted on 21 February 2014

JPMorgan Chase & Co’s commodity revenues fell 12 percent last year, the bank said in a filing on Thursday, shedding new light on the unit as the bank prepares to sell its physical trading arm to Swiss-based trader Mercuria.
The drop in commodity revenues at JPMorgan is the second in two years, and follows tighter restrictions across Wall Street on banks trading with their own money and growing scrutiny of their role in the natural resources supply chain………………………………………..Full Article: Source


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