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JP Morgan Chase, America's biggest bank, issued a surprise trading update after US markets had shut on Thursday, admitting it had incurred $2bn (£1.2bn) of trading losses in the past six weeks.
Jamie Dimon, chief executive of the bank which was praised for its handling of the 2008 banking crisis, cited "sloppiness" "bad judgment" and "many errors".
"Our bad." - JO
Guardian UK article
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