|JPMorgan suspends share buybacks|
| JPMorgan Chase is suspending its share buybacks, chief executive Jamie Dimon said on Monday – the latest fallout from a shock $2bn trading loss in the bank’s chief investment office.|
The bank was given permission by the Federal Reserve in March to return more capital to shareholders after it successfully passed “stress tests” on its balance sheet.
Announcing the suspension of the buyback at a conference hosted by Deutsche Bank, Mr Dimon said “obviously we’re not going to make as much money”.
Monday, May 21, 2012
JPMorgan suspends share buybacks
Posted by Michele Kearney at 2:14 PM