Mon, Feb 2, 2015
A A A
Welcome preal121
RSS

Commodities Briefing - Categorized | Financial, Market Moves more

Banks and commodities never mixed

Posted on 20 March 2014

J.P. Morgan Chase & Co.’s decision to sell its commodities trading unit ends a chapter of anything-goes banking that dominated the 2000s after the so-called financial modernization laws passed a little over a decade ago.
The bank on Wednesday said it agreed to sell the unit for $3.5 billion cash to Mercuria Energy Group Ltd., the Swiss trading giant. J.P. Morgan’s move follows similar sales or shuttering of commodities units by Deutsche Bank AG , Goldman Sachs Group Inc. and Morgan Stanley to name a few. Exiting what amounted to a more-than-a-decade experiment in the nation’s banking system wasn’t without costs………………………………………..Full Article: Source


 Article link

This post was written by:

VRS - who has written 39041 posts on Opalesque Commodities Briefing.


Contact the author

Comments are closed.

banner
banner
February 2015
S M T W T F S
« Jan    
1234567
891011121314
15161718192021
22232425262728