US authorities are probing whether banking giant JPMorgan Chase manipulated US energy markets, the Wall Street Journal reported. The newspaper, citing unnamed sources, on Monday said the Justice Department recently decided to take a closer look at the bank\'s energy practices as it was wrapping up a $410 million settlement linked to allegations it had manipulated power prices in California and the Midwest. The Journal said it was unclear whether the investigation is civil or criminal and noted that its sources warned the probe was still in its early stages. The newspaper quoted a JPMorgan spokesman as saying that \"we\'re working hard to remediate controls issues, strengthen business practices and address regulatory concerns.\" JPMorgan faces a series of legal woes. Just last week, the US charged a pair of former traders with fraud in connection with the 2012 $6.2 billion \"London whale\" trading losses.
GMT 11:47 2018 Tuesday ,23 January
Bahrain Press headlinesGMT 10:35 2018 Monday ,22 January
Bahrain Press headlinesGMT 12:43 2018 Friday ,19 January
Bahrain press headlinesGMT 13:14 2018 Thursday ,18 January
Bahrain Press headlinesGMT 12:34 2018 Tuesday ,16 January
Regional magazine seeks clothes/accessories/home items for Valentine's Day featuresGMT 11:57 2018 Tuesday ,16 January
Bahrain Press headlinesGMT 12:25 2018 Sunday ,14 January
Bahrain press headlinesGMT 11:57 2018 Sunday ,14 January
Bahrain Press headlinesMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor