Investment banking giant, JP Morgan Chase, revealed that second-quarter profits fell 52% as it suffered a £550 million ($1.1 billion) loss on mortgage-related write-downs. Net income at the third-largest US bank fell to $2 billion compared with $4.23 billion a year earlier. Revenue fell by 3% to $18.4 billion, above analysts expectations of $16.6 billion in [...]
JP Morgan Chase hit by write-downs
