Banking Industry

JPMorgan’s Stocks Business Takes $143 Million Loss Linked to 1 Client

JPMorgan Chase & Co. (JPM)  said Friday that its equities trading business booked a $143 million loss linked to a single client, which could be the scandal-plagued South African retailer Steinhoff International Holdings NV. America’s biggest bank posted stronger-than-expected fourth-quarter earnings of $1.76 a share but noted in its presentation that equity market revenue was essentially flat at $1.1 billion and that the division took a hit of $143 million “on a margin loan to a single client.” Bloomberg News reported…

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Business awards foundation hands out £15,000

A charity set up to boost enterprise amongst young people in Lancashire has confirmed it handed out more than £15,000 to bodies in the county at the end of last year. The BIBAs Foundation, which was established by the Be Inspired Business Awards, the BIBAs, has confirmed it is supporting seven initiatives in the county which aim to boost employability skills, help establish new businesses and provide opportunities for young people. It is the latest round of grants awarded by…

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Malaysia Coil Center Business Company Becomes Wholly-Owned Subsidiary

Sumitomo Corporation (Head Office: Chuo-ku, Tokyo; Representative Director, President and Chief Executive Officer: Kuniharu Nakamura) has increased its stake in Sumiputeh Steel Centre Sdn. Bhd. (Head Office: Selangor State, Malaysia; hereinafter, “Sumiputeh Steel Centre”) from 50% to 100% and made the company a wholly-owned subsidiary. Since being established in 1980 by Sumitomo Corporation in partnership with the Malaysian law firm Zain & Co. in order to satisfy the requirements imposed by restrictions on foreign investment in Malaysia at the time,…

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Cremation is killing the casket business

Death may be one of life’s two certainties — but profits from selling caskets are not. That’s the view of a New York hedge fund that on Thursday announced it was shorting a major casket manufacturer because it believes the increasing popularity of cremation will kill its profits. Matthews International, whose shares have dipped 32 percent over the past year, could see another 65 percent decline, according to Spruce Point Capital. Matthews, which rings up 40 percent of its revenue…

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Passing icebreaker shatters Sombra, Ont. ferry causeway, threatening family business – Windsor

The causeway leading to a boat that has ferried workers and pleasure seekers across the St. Clair River in Sombra, Ont. for 55 years was crushed by ice Thursday, threatening to kill a fifth-generation family business. The Bluewater Ferry was built by Morgan Dalgety’s grandfather decades ago, with the Canadian government supporting the enterprise by building a causeway leading to its dock back in 1962. ‘Your dock is collapsing’ On Thursday morning Dalgety got a call from the person who lives next to the place where that…

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GR business concerns for 2018: Workers, parking

GRAND RAPIDS, Mich. (WOOD) — Workers are putting the final touches on the Brix, Wolverine Building Group’s apartment complex off Michigan Street NE in Grand Rapids. The $53 million project is another example of the city’s building boom — a boom hampered by a lack of skilled workers. “Carpentry or steel or welding abilities,” Wolverine Building Group President Curt Mulder said, listing the jobs his company has difficulty filling. “We’ve really had to limit the work that we take on…

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Family business: INSEAD, TSW tie up for workshop on family business

MUMBAI: Leading business school INSEAD and TSW, the executive education wing of Times Professional Learning (TPL), have entered into an academic partnership for INSEAD’s first edition of Leading Indian Family Enterprises (LIFE), a three-day experiential business learning workshop to be conducted at INSEAD’s Asia campus in Singapore in March. This programme is based on INSEAD’s popular Family Enterprise Challenge (FAME) programme. “This programme is a revolutionary first step for Indian family businesses,” TPL president Anish Srikrishna said in a release.…

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Celtic boss Brendan Rodgers says there is still some work to be done this January

Celtic gaffer Brendan Rodgers is happy with his side’s business so far but admits there is still work to be done should the right deal arise. Celtic manager Brendan Rodgers believes there is still some work to be done on the transfer front this January window, despite getting some early business done. The Bhoys have added German centre-back Marvin Compper, 32, and wide man Lewis Morgan, 21, to their squad from RB Leipzig and St Mirren respectively, while Hoops youngster…

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Newport Restoration Foundation Names Thompson Executive Director

Email to a friend Permalink Thursday, January 11, 2018 GoLocalProv Business Team   The Newport Restoration Foundation (NRF) has named Mark Thompson as the new Executive Director. “The caliber of the staff at the Newport Restoration Foundation is among the finest of any nonprofit organization in the entire country. I am thrilled at the prospect of working alongside them. Newport is an incredible city and I’m looking forward to being a part of this vibrant community,” said Thompson. He will…

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Things to consider before starting a business

Friday 08 February 2013 So you’ve made the decision to start your own business. Congratulations! Before you get started there are a few important things you need to consider. Get your business off to a flying start with our top 5 planning tips, and help your business not only survive, but thrive. Tip #1 – Decide if you’re ready to start your own business Asking yourself if you’re ready may seem like an easy question, but there’s more to owning…

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Fiona Muldoon: Simple changes can deliver lasting diversity and business success

‘Gender diversity generates much debate and the case for greater gender balance on boards is well enough known’ (stock photo) Fiona Muldoon: Simple changes can deliver lasting diversity and business success Independent.ie In many respects, I am the exception more than the rule. I’m honoured to be one of only three female leaders of an ISE-listed company. And as a female CEO of a financial services firm, I experience first-hand how much diversity exists at Irish board tables. https://www.independent.ie/business/irish/fiona-muldoon-simple-changes-can-deliver-lasting-diversity-and-business-success-36476541.html https://www.independent.ie/business/article36476539.ece/7be86/AUTOCROP/h342/2018-01-11_bus_37595200_I1.JPG…

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Eyesore irritates business neighbors

OMAHA, Neb. (WOWT) — A pile of home restoration debris is not what business neighbors want customers to see as they come up North 84th off Maple. Neighbors say the industrial eyesore is bad for business. Six on Your Side contacted the city and Mike McKnight was there when an inspector showed up to have a look. “It doesn’t look good on the neighborhood, no sir,” a neighboring business owner told 6 News. It’s not a pretty picture for the…

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Small Business Bureau disbursed US$1.3M in loans for 2017- Fund Manager

The Small Business Bureau (SBB) disbursed loans to the value of US$1.3M during 2017 and was only required to pay out US$6,000 in bad loans to partner banks. “That is actually way less than the total fund we have, so, that speaks to the fact that we have done generally good loans,” Gillian Edwards, the Credit Guarantee Fund Manager posited on Tuesday during a radio interview, a release from the Department of Public Information (DPI) has said. Additionally, the SBB…

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Lenovo buys IBM’s server business at $2.3 billion

Lenovo Group Ltd, the world’s largest PC maker, agreed to buy IBM Corp’s low-end server business in a long-awaited deal valued at about $2.3 billion, the biggest-ever tech acquisition by a Chinese company.Lenovo will pay $2.07 billion in cash and the rest with stock Lenovo Group Ltd, the world’s largest PC maker, agreed to buy IBM Corp’s low-end server business in a long-awaited deal valued at about $2.3 billion, the biggest-ever tech acquisition by a Chinese company. Lenovo will pay…

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