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Banking

WireTap 0900 14/05/12

A round-up of the key stories across the specialist financial media, including news that the entire London staff of JPMorgan’s chief investment office is at risk of dismissal


JPMorgan unit’s London staff may go as loss prompts exits

The entire London staff of JPMorgan’s chief investment office is at risk of dismissal as a $2 billion trading loss prompts the first executive departures as soon as this week, a person familiar with the situation says.

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A rare speed bump in commodities'' long run

Commodities fell to nearly two-year lows last week, measured by a widely used benchmark, prompting investors to ponder whether the massive rally that began in 1999 may be faltering.

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Euro officials begin to weigh Greek exit

Greece’s possible exit from the euro area moved to the centre of Europe’s debt-crisis debate, with officials beginning to weigh the fallout of a withdrawal even as authorities in Athens struggled to form a government.

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EU keeps tight rein on bank penalties

Lloyds and Royal Bank of Scotland should not count on securing softer bailout penalties, the EU’s top competition enforcer has warned, as he expressed confidence the banks would meet Brussels deadlines for forced sell-offs.

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Dreyfus to tap capital markets

Louis Dreyfus Commodities, one of the world’s biggest food trading houses, plans to tap the capital markets for the first time in its 160-year history, as it embarks on a $7 billion spending programme that will include a string of acquisitions.

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