NetEase is reportedly pulling funding for Yakuza creator's studio

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One area that Dimon has not yet tamed is J.P. Morgan’s wildly inconsistent trading operation. By its nature, proprietary trading–where firms bet their own capital on the direction of stock prices or interest rates–is risky. J.P. Morgan’s problem is that it both makes less money and suffers from far more volatility than rivals like Goldman Sachs and Morgan Stanley. And while J.P. Morgan’s investment bank is raking in fee income (its take tops all rivals but Citi), the division lives and dies on trading. In the fourth quarter of 2005, for example, when the proprietary traders lost several hundred million dollars betting that both oil prices and interest rates would jump, profits at the investment bank slumped 29% from the previous quarter.

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