Spain’s benchmark borrowing costs climbed to a record yesterday, raising the specter of sovereign bailouts for the government in Madrid and then Italy that would stretch European Union finances to their limit.
Category: Business 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.
JPMorgan reveals shock $2bn trading loss on investments
JPMorgan Chase, the biggest US bank, has revealed a surprise trading loss of at least $2bn (£1.2bn) on complex investments made by its traders.
Central banks join forces to ease financial strains
Some of the world’s biggest central banks have announced a programme of co-ordinated action designed to support the global financial system.
Wal-Mart: What Went Wrong?
Wal-Mart reported its ninth-straight quarter of same-store sales losses for its U.S. unit. Overall profit was up 5.7%, carried by overseas gains, but the U.S. business continues to suffer.
Target Corp. (NYSE: TGT) the second-largest U.S. discount retailer, may have found a strategy to oust Wal-Mart Stores Inc. (NYSE: WMT) as the No. 1 discount-shopping source.