Chase, JP Morgan signal hard times

Chase Manhattan and J P Morgan yesterday signalled hard times on Wall Street and the City of London, saying their earnings this…

Chase Manhattan and J P Morgan yesterday signalled hard times on Wall Street and the City of London, saying their earnings this quarter would disappoint because of slowing markets, rising expenses and investment losses.

There was no indication that the announcement meant Chase would not go ahead with its $29 billion (€32.72 billion) bid for J P Morgan, which will be voted on by shareholders on December 22nd.

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