The naira weakened against the United States dollar on the inter-bank market on Monday, as strong dollar demand for the local currency from fuel importers held down the local unit. The naira closed at the inter-bank market at N157.95 to the dollar, weaker than the N157.75 on Friday. Traders said […]

JPMorgan Chase & Co sacrificed investment chief Ina Drew on Monday in response to trading losses that could reach $3 billion or more and which have tainted the reputation of the bank’s high profile chief executive Jamie Dimon. The biggest bank in the United States by assets said Drew, its […]

Three top executives involved with a failed hedging strategy that cost JPMorgan Chase & Co at least $2 billion and tarnished its reputation are expected to leave the bank this week, sources close to the matter said on Sunday. The bank – the biggest in the United States by assets […]