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  (Joanna Wnuk/Getty Images/Hemera)

 

(Joanna Wnuk/Getty Images/Hemera)

Morning meeting: JP Morgan lowers the boom Add to ...

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JP Morgan lowers the boom The fallout from last week’s admission of JP Morgan Chase’s $2-billion trading loss continues this week with three executives being shown the door.

Also, the bank’s 'London Whale' trader -- who is responsible for the trades in question -- has been stripped of his trading responsibilities.

In light of the JP Morgan meltdown, The Big Picture wonders, what is a hedge?



“If you want to speculate, don’t call yourself a bank, call yourself a hedge fund” Toronto-Dominion Bank Chief Executive Officer Edmund Clark on why he can’t violate any Dimon principles on speculative trades.

Lines drawn for Canadian Pacific showdown A vicious months-long proxy fight over the future of Canadian Pacific Railway Ltd. culminates this week as the combatants converge on Calgary.

Bankruptcy for Ally’s ResCap Ally Financial is finally loosening itself of its mortgage division Residential Capital, which has been a weight on the company’s more profitable areas. The move may allow Ally to go public, and the U.S. government to rid itself of some of its 74 per cent stake.

Is Yahoo’s interim CEO a long-term solution? With former CEO Scott Thompson out of the hot seat after just four months, the company will rely on its head of global media Ross B. Levinsohn in the interim. But with Levinsohn’s deal-making expertise, connections and diverse experience this could be a permanent fix.

Shale writedown could be ahead for BHP Falling gas prices in the U.S. may force BHP Billiton to write down the book value of its shale assets. The company says it will put its focus on developing liquids in 2013 to combat lower gas prices.

Goodbye Greece? As a Greek exit from the euro zone looks increasingly likely and the euro weakening, officials and experts try to plan ahead.

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