Company: Royal Bank Of Canada

TORONTO (Reuters) - Thousands of Canadian retailers already have equipment in place to let customers pay for purchases with a swipe of their mobile phones, putting the country in the lead in developing a system that could one day make cash obsolete.

LONDON (Reuters) - JPMorgan Chase & Co's $2 billion-plus trading loss stems from an embarrassment of riches, as like other banks that came out well from the financial crisis it has surplus money burning a hole in its pocket.

TORONTO (Reuters) - Thousands of Canadian retailers already have equipment in place to let customers pay for purchases with a swipe of their mobile phones, putting the country in the lead in developing a system that could one day make cash obsolete.

U.S. regulators are accusing one of Canada's largest banks of engaging in hundreds of millions of dollars in sham futures trades to reap tax benefits on its holdings of company stocks.

Moody's warned on Thursday it may cut the credit ratings of 17 global and 114 European financial institutions in another sign that the impact of the euro zone government debt crisis is spreading throughout the global financial system.

Three years after the financial crisis, the Grinch still hovers over Wall Street. In the precrisis era, big banks were renowned for their extravagant holiday parties. Goldman Sachs once rented out huge halls for its end-of-year galas, which featured appearances by performers such as Harry Connick Jr. and Bette Midler. NYT reports.