Reuters) - JP Morgan Chase & Co is exiting physical commodities
trading, the bank said in a surprise statement on Friday, as Wall
Street's role in the trading of raw materials comes under intense
political and regulatory pressure.
Wall Street's biggest bank said an "internal review" had concluded it
should pursue "strategic alternatives" for its physical commodities
operations, which includes assets like its Henry Bath metals warehousing
subsidiary and a vast global team trading everything from African crude
to Canadian natural gas.
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