Jpmorgan Profits Boost Confidence in Wall Street [Edition 2]

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AMERICA'S biggest bank JPMorgan Chase today reported better- thanexpected first-quarter profits, making it the third US bank to cheer Wall Street in a week.

Chief executive Jamie Dimon, who oversaw the government-backed, rescue takeovers of Bear Stearns and Washington Mutual last year, said: "We are confident that even a highly adverse economic scenario would not compromise our overall strength and stability.

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Jpmorgan Profits Boost Confidence in Wall Street [Edition 2]

We remain well-positioned to benefit when the economy recovers." As the US economy falls further into recession and unemployment...

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