JPMorgan May Drop Plans to Buy Sempra U.S. Unit on Obama Plan
Feb. 1 (Bloomberg) -- JPMorgan Chase & Co. may drop plans to acquire the North American operations of Sempra Commodities LLP after President Barack Obama said he would seek to curb banks’ proprietary trading activities, two people with knowledge of the matter said.JPMorgan will probably focus on buying the energy and metals trader’s European division instead, said the people, who declined to be identified as the talks are private. Talks between the two firms are continuing, the people added.Read more: http://www.bloomberg.com/apps/news?id=20601087&sid=ajog1GovbCQs&pos=3