Source: JPMorgan Chase halting proprietary trading
BOSTON: JPMorgan Chase & Co. is shutting down its proprietary trading desks and eliminating around 80 jobs to comply with new restrictions on investment banks, a source familiar with the situation said on Tuesday.
Former PM Blair memoir excites booksellers, riles critics
LONDON: It’s a political memoir with celebrity trappings secrecy, security, a multimillion-dollar deal and, crucially, controversy.
US scientist accused of stealing trade secrets worth US$300mil
INDIANAPOLIS: A former Indiana scientist accused of illegally sending trade secrets worth US$300 million to China and Germany was ordered detained Tuesday on rare charges of economic espionage.
SEC says it lacked authority to charge Moody’s
WASHINGTON: The Securities and Exchange Commission has declined to seek fraud charges against Moody’s Investors Services over its ratings of risky investments that led to the financial crisis.
Aussie PM rules out farm tariffs to form Govt
CANBERRA, Australia: Prime Minister Julia Gillard ruled out introducing tariffs to protect Australian farmers as an olive branch to entice rural independent lawmakers to help her form a government.
US Govt says Gulf seafood safe
OAKLAND, California: Shawn Mattiuz, manager of the Hapuku Fish Shop in Market Hall, a collection of upscale food purveyors in Oakland’s bustling Rockridge district, has been watching the Gulf of Mexico seafood saga play out in the ice-cooled trays of his display cases.
Large US banks earn billions, small banks struggle
WASHINGTON: U.S. banks are making money again, although a split picture of the industry has emerged since the financial crisis.
Oil prices fall as US economy still looks shaky
NEW YORK: Some of the economic news was a little better on Tuesday, but it was not enough to keep oil prices from dropping again.
US stocks end worst Aug in 9 years, face traditionally worst Sept ahead(update)
Analyst: M’sian stock market technically positive amid global uncertainties
PETALING JAYA: With most companies having reported their second-quarter results, traders and investors would do well to be conservative given the looming threat of a double-dip in the worlds largest economies, analysts said.
There may be a price war to give out cheaper bank loans
KUALA LUMPUR: There may be a new round of price war among banks for consumer loans, with the new mortgage rate going down to as low as base lending rate (BLR) -2.3%. The current BLR rate is 6.3%. Some analysts said this comes as a surprise to the market after a mutual understanding was reached earlier to set a minimum rate of BLR-1.9%.
Is tax amnesty on the cards in M’sia?
MARC conducts review of Simes debt ratings
PETALING JAYA: The Malaysian Rating Corp Bhd (MARC) is conducting a review of its MARC-1ID /AAAID /Stable debt ratings on Sime Darby Bhd.
Aid for banks to address staff pinching
PETALING JAYA: Banks that suffered from staff poaching in the industry will be better compensated starting this year so that they can reinvest in training.
Mudajaya sheds light on Indian IPP
PETALING JAYA: Mudajaya Group Bhds explanations on various financial and ownership aspects of its Indian independent power producer (IPP) project may raise further questions from Bursa Malaysia, industry sources said.
Will Olympia consider another proposal?
WHAT next for Olympia Industries Bhd, whose proposed sale of Menara Olympia and a neighbouring car park to Jelita Timur Sdn Bhd has been aborted?
Senai Hi-tech park to focus on three areas
SENAI: Senai High Tech Park Sdn Bhd (SHTP), the operator of Senai Hi-Tech Park project, is focusing on three key areas as the driving factors to spearhead the development of the park.
Emphasis on developing biomass, biogas
PETALING JAYA: Biomass and biogas will be given more opportunity to develop as renewable energy (RE) resources during the first 10 years of the implementation of feed-in tariff (FiT) in Malaysia.
Selangor to solve water issue first
SHAH ALAM: The Selangor government will proceed with the Langat 2 water treatment plant project (Langat 2) after discussions on the restructuring of the states water industry with the private concessionaire and federal agencies are finalised.
Full-time effort needed to solve water issue
IT is commendable that the federal and state governments are making efforts to mend the situation with regard to the construction of the Langat 2 water treatment plant in Selangor.
Oilcorp losses up in Q2
PETALING JAYA: Financially-troubled Oilcorp Bhd incurred a net loss of RM12.2mil for the second quarter ended June 30 against a net loss of RM1.5mil in the same quarter last year.
Naim seeks bumiputra property partner in Sabah
KUCHING: Naim Holdings Bhd is actively seeking a bumiputra partner in Sabah where it plans to expand its property development and construction business.
|