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L’Espresso loses out in interest rate trade

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Gruppo Editoriale L’Espresso, the Rome-based media company that publishes the Italian broadsheet La Repubblica, has lost e15.87 million as the result of trades in interest rate derivatives. Risk understands that a substantial part of that loss was attributable to an exotic product sold to the company by JP Morgan Chase.

While neither company will comment on this specific transaction, both L

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