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FBN’s Diane Macedo with reports from the New York Times that JPMorgan’s trading losses are far greater than expected, and may hit $9 billion.
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Good morning everyone I'm -- -- -- shares of JPMorgan Chase are getting hit this morning.
On a report that the company's losses from bad trades could total as much as nine billion dollars.
According to New York Times -- bank's internal projections put the red -- act that higher amount as it -- various volatile positions.
CEO Jamie Dimon and -- -- announced last month.
That the bank had lost two billion dollars in a bet on credit derivatives but he estimated.
That loss could double within the next few -- -- -- is expected to announce today that it splitting into two companies according to reports the company's board approved a plan last night.
That will separate the media conglomerates film and TV businesses which generate the welcome news -- profits.
From -- slower growing newspaper book publishing and education divisions.
Insiders say they are still many details worked out including the management structure for the publishing business.
The entire process is expected to take about a year and news -- board will have to approve a final detailed plan.
News Corp.
of course is the parent company of the Fox Business Network.
Here's a quick look at futures now they've been down across the board all morning Dow futures now down by 42 the S and -- down by three in the nasdaq's down by about six.
Imus in the morning continues right now on Fox Business giving you the power to -- And I got to.
