JPMorgan Weighs Exiting China Venture as Banks Seek Control
JPMorgan Chase & Co. is in talks to sell its stake in a Chinese investment-banking joint venture, a sign that foreign banks are getting frustrated with partnerships they can’t control.The New York-based bank is in talks to sell its minority stake in JPMorgan First Capital Securities to its local partner, First Capital Securities Co., according to a statement from the Chinese firm on Thursday. No agreement has been reached, according to the statement.JPMorgan wants to find a new partner for a ve..>> view originalGlencore Sells Coal Rail Unit for $873 Million to Cut Debt
Glencore Plc, the world’s biggest commodity trader, sold its coal haulage unit in Australia to U.S. railroad operator Genesee & Wyoming Inc. for A$1.14 billion ($873 million) as part of a broader plan to almost halve its debt.The sale of the unit known as GRail forms a “significant part” of the debt-reduction program, the Baar, Switzerland-based trader and miner said in a statement Thursday. The sale price exceeds the company’s earlier target of A$1 billion for GRail, the third-biggest coal hau..>> view originalNestlé May Miss Its Long-Term Sales Target, Again
VEVEY, Switzerland—Nestlé SA said Thursday that sales rose slightly in the first nine months of the year to 65.5 billion Swiss francs ($66.2 billion), and signaled that it will miss its long-term sales target for a fourth-straight year. Vevey-based Nestlé, owner of Crunch candy bars, Puppy Chow pet food and Nespresso coffee, said organic sales—which strip out the effects of currency swings and acquisitions—rose 3.3% in the nine...>> view originalThree Denver hotels in top 5 of Condé Nast Traveler's best in the West
Three hotels in the heart of Denver lead the pack in the latest Top Hotels in The American West by Condé Nast Traveler. Hotel Teatro came in at #1, The Art, a hotel in downtown Denver adjacent to the Denver Art Museum, was at #2 and The Oxford Hotel at #4. Hotel Teatro sits in a landmark that dates back to 1911 with modern touches in the 110-room hotel located steps from many attractions and boasting to be “the city’s only boutique hotel.” The Art, which opened in June 2015, incorporates cont..>> view originalNissan CEO Ghosn to head troubled Mitsubishi Motors
FILE - In this May 12, 2016 file photo, Nissan Motor Co. President and CEO Carlos Ghosn, right, and Mitsubishi Motors Corp. Chairman and CEO Osamu Masuko walk in the venue of their joint press conference in Yokohama, near Tokyo. Ghosn, CEO of Japan's Nissan Motor, is due to hold a news conference amid reports he will become chairman of Mitsubishi Motors, presiding over efforts to turn the troubled automaker around. The Brazilian-born Frenchman, who already heads Nissan and Renault, was to mee..>> view originalCan This Woman Save Wells Fargo's Consumer Banking Business?
Mary Mack arguably has the hardest job in banking today. The head of retail banking at Wells Fargo & Co., Ms. Mack must change the sales culture at the scandal-scarred firm. To do so, she will have to figure out how to incentivize employees without spurring the kind of improper behavior that led to the bank’s $185 million fine, regulatory enforcement action and abrupt retirement of Chief Executive John Stumpf. In the wake...>> view originalTrump's 'bad hombres' echoes on both sides of the border
Republican presidential nominee Donald Trump discussed border security at the third and final presidential debate, Oct. 19, in Las Vegas. (The Washington Post) By Adam Kealoha Causey | AP October 20 at 1:04 AM PHOENIX — Donald Trump’s utterance of “bad hombres” during Wednesday night’s presidential debate echoed across both sides of the U.S.-Mexico border. Within minutes, the Republican nominee was getting a lashing about his mangling of English and Spanish. Trump — whose proposal for ..>> view originalYahoo, ACLU press US feds to disclose email snooping orders, surveillance laws
Yahoo Yahoo has asked the US Director of National Intelligence James Clapper to declassify a surveillance demand the company received which resulted in a special program being set up to monitor customer emails for certain keywords.The program, which operated in early 2015, forced Yahoo to build a tool which automatically scanned Yahoo Mail user messages for key words and phrases -- a general order from either t..>> view originaleBay Revenue Grows, Though Profit Declines
On Wednesday, eBay Inc. said revenue grew 5.6%, a third straight quarter of sales gains as a new initiative to transform the online retailer’s search results and image has begun to pay off. The San Jose, Calif.-based online sales platform on Wednesday reported $2.22 billion in revenue, compared with last year’s $2.1 billion. Net income of $413 million, or 36 cents a share, was lower than the $539 million, or 45 cents, the company...>> view originalHere's a round-up of all the women who have accused Donald Trump of inappropriate touching
It was in the last presidential debate between Donald Trump and Hillary Clinton and St. Louis on Oct. 9 that Trump uttered the words that seem to have shaped the campaign in the days since: “No, I have not.” Trump made the statement in response to a question from CNN anchor Anderson Cooper, who asked if he had ever engaged in the kind of behavior with women that he had described in an “Access Hollywood” video, in which Trump bragged about groping and kissing women without their permission. In ..>> view original
Thursday, October 20, 2016
JPMorgan Weighs Exiting China Venture as Banks Seek Control and other top stories.
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