JP Morgan Chase posts $5.6bn profit
US banking giant JP Morgan Chase has reported a $5.6bn (£3.5bn) profit for the three months to 30 September.
The quarterly results represent a marked improvement on a year earlier, when the bank made a $380m loss.
This was the result of setting aside billions of dollars to settle government charges relating to the sale of mortgage-related investment products in the run-up to the financial crisis.
JP Morgan is the first major US bank to report its third quarter results.
Other big US banks will post their results later this week.
'Performing well'
The JP Morgan results were due to be published at 08:30 local time (13:30 BST), but were posted early.
They showed total revenue for the quarter of $25.2bn, up 5% on a year earlier. Revenue at the investment banking business fell by $600m, with profits down by 34%.
Revenue at the asset management arm grew by $250m to $3bn, with profits up 20%.
"Our businesses continue to perform well," said chief executive Jamie Dimon.
"While challenges remain in the global economic recovery, the US economy is an exception, showing signs of steady improvement.
"Corporate America is in good shape, with strong balance sheets, and employment trends continue to be positive."
Source-BBC
Shillingford, Miller rescue Windies A
A defiant unbroken eighth-wicket stand of 92 between Shane Shillingford and Nikita Miller saved West Indies A from a possible innings defeat on the third day of their opening four-day 'Test' against Sri Lanka here yesterday.
Asked to follow on after being dismissed for 160 in their first innings, West Indies A plunged to 175 for seven in their second innings before Shillingford struck an unbeaten 56 and Miller, 37 not out, to rescue the Caribbean side.
Test batsman Kirk Edwards had earlier led the way with a top score of 76, while Jermaine Blackwood got 39 as Windies A finished the day on 267 for seven, only 14 runs ahead with today's final day remaining.
Resuming the penultimate day on 96 for seven in reply to Sri Lanka's first innings of 413, West Indies A managed to extend their first innings thanks to a half-century from Chadwick Walton.
Unbeaten on 10 overnight, the Jamaican wicketkeeper hit 50 from 90 balls with five fours and two sixes, adding a crucial 36 for the last wicket with Shannon Gabriel (five not out) after the tourists slipped to 124 for nine.
Leg-spinner Seekkuge Prasanna added the wicket of Walton to his overnight five-wicket haul to finish with six for 64, while seamer Shaminda Eranga picked up two for 54.
West Indies A were in early strife in their second innings, losing Test batsman Kraigg Brathwaite for two in the third over of the innings with the score also on two.
Edwards then anchored two key stands to see West Indies A out of trouble. He added 38 for the second wicket with Assad Fudadin (11) and then put on a further 77 for the third wicket with Blackwood.
The right-handed Edwards hit eight fours and two sixes in an innings lasting 117 balls, while Blackwood, also a current Test player, stroked five fours in his 50-ball knock.
Blackwood's dismissal, however, triggered a dramatic slide which saw five wickets tumble for just 58 runs.
Fast bowler Lahiru Gamage snapped up three for 49, while Prasanna caused trouble again with three for 114.
Tottering at 175 for seven and requiring a further 78 to make Sri Lanka A bat again, Windies A found heroes in Shillingford and Miller.
Shillingford, who boasts a Test half-century, hammered three fours and five sixes off 86 deliveries, while Miller was more measured, facing 76 balls and counting three fours and a six.
Source-CMC
Obama Urges More ‘Robust Commitments’ to Combat Ebola
President Barack Obama spoke with world leaders and was briefed by his public health and national security teams Monday on international and domestic efforts to confront the Ebola epidemic. U.S. public health officials are “rethinking” the way they address effective Ebola infection control following the first U.S. case of the deadly virus in Texas.
Speaking with U.N. Secretary-General Ban Ki-moon by phone, Obama agreed on the need for more “robust commitments and rapid delivery of assistance” to West Africa “to stop the epidemic at its source.” In a separate conversation with his French counterpart, Francois Hollande, Obama discussed coordinated actions to contain the epidemic, including treatment facilities in West Africa and passenger screening.
The president was also briefed on the response to the diagnosis of a second U.S. Ebola case, a nurse, in Dallas, Texas, including the investigation into the apparent breach of infection control protocols. Media reports have identified the patient as 26-year-old Nina Pham, who cared for Liberian Thomas Eric Duncan, who died last week at Texas Health Presbyterian Hospital after arriving in the U.S. in September. She is now in isolation and in stable condition.
At a news conference Monday, the director of the Centers for Disease Control, Tom Frieden, said this case changes some things, but not others.
"It doesn’t change the fact that we know how Ebola spreads. It doesn’t change the fact that it’s possible to take care of Ebola safely. But, it does change substantially how we approach it. We have to rethink the way we address Ebola infection control because even a single infection is unacceptable," said Frieden.
Frieden said none of the 48 people who had contact, or may have had contact, with Duncan have developed symptoms. He said only one person may have had contact with the nurse, and that person is being monitored.
The Associated Press reported about 70 staff members at Texas Health Presbyterian Hospital were involved in the care of Duncan, including the nurse. Frieden said they are being interviewed and monitored.
Courtesy of : Victor Beattie
Haitians banned from UN Ebola mission in Africa
After news appeared on social networks that the United Nations was recruiting volunteers to respond to the Ebola epidemic in West Africa, authorities in Haiti sprang into action.
A statement released last week, signed by the ministers of health, interior and defence, effectively banned Haitian volunteers from travelling to Ebola-stricken countries in Africa.
Citing other diseases that have devastated the impoverished country in recent years, the ministers prohibited any agency – including the UN Mission for Ebola Emergency Response (UNMEER) – from organising the recruitment of Haitian volunteers
The ministers appealed to “the common sense of every citizen to avoid other more dramatic situations than what we have experienced in the recent past.”
The October 2 statement was described as a “warning” by Minister of Defence Lener Renauld, who added: “It’s a question of public health and security to avoid any (Ebola) epidemic crisis happening in Haiti.”
This latest development follows a recommendation by the minister of health last month that all international agencies “suspend any rotation of members coming from countries where Ebola cases have been found.”
According to Health Minister Florence Duperval Guillaume, the announcement was made “to restore the confidence of our citizens.
“It may be much stronger than necessary, but think of those citizens who have been so traumatized, after the earthquake, after cholera, and after chikungunya. We cannot afford to take an additional trauma,” the minister said.
Cholera, which had not been documented in the French-speaking country for almost a century, hit Haiti in 2010, since when it has killed 8,500 people and infected more than 700,000. It may have been brought to Haiti by UN peacekeepers from Nepal, who were stationed there after the catastrophic earthquake.
The mosquito-borne virus chikungunya, which is currently sweeping the region, broke out in Haiti earlier this year and has since claimed tens of thousands of suspected cases.
Suarez scored his first Uruguay goals since the World Cup
Ex-Liverpool striker Luis Suarez scored his first Uruguay goals since the World Cup finals and his suspension for biting in a 3-0 friendly win over Oman.
Suarez, 27, is serving a nine-match international ban from competitive games after biting Italy's Giorgio Chiellini, but can play in friendlies.
The Uruguayan netted twice in nine second-half minutes before Jonathan Rodriguez added a third goal late on.
Suarez could make his Barcelona debut against Real Madrid on 26 October.
He had last scored for his country when he grabbed both goals in their 2-1 win over England in the World Cup in Brazil on 19 June.
Suarez helped Uruguay beat Italy 1-0 five days later but bit defender Chiellini's shoulder during the match and was later banned for four months from all football activity.
An appeal to the Court of Arbitration for Sport in August revised the terms of his ban, meaning he could play in friendly games for club and country.
However, he will not play for Uruguay in the 2015 Copa America tournament and will not be able to play a competitive Uruguay game until during their qualification campaign for the 2018 World Cup.
The striker, who moved to Barcelona from Liverpool for £75m in July, has now scored 43 goals for his country.
Nicki Minaj fails to snatch solo UK number one single
Nicki Minaj has failed to capture the first UK solo number one single in her own right as her song Anaconda was beaten into third place in the chart.
The US singer was routed by Meghan Trainor, who galvanised pole position with All About That Bass.
Bang Bang - Minaj's joint effort with Jessie J and Ariana Grande - was ahead of her solo record, remaining steady at number two.
George Ezra retained top spot in the album chart with his debut collection.
The singer-songwriter was ahead of Ed Sheeran, Sam Smith and Barbra Streisand in the rundown.
Smith's album The Lonely Hours clocks up its 20th week in the chart this week.
Irish musician Hozier scored the highest new entry at five with his self-titled collection.
A large number of other new entries peppered the chart, including Canadian star Caribou at eight, former Smiths guitarist Johnny Marr at nine, with electro-house duo Gorgon City rounding out the top 10.
Another Canadian, Bryan Adams, was just outside at 11 with his 11th studio album.
Elsewhere in the singles chart, Taylor Swift was at four with Shake It Off, which was the most-streamed track of the week.
US R&B star Jeremih went in at number five with Don't Tell 'Em.
A cover of Beach Boys classic God Only Knows - covered by 27 artists including Coldplay's Chris Martin and Sir Elton John - made number 20 after just four days on sale.
A lavish music video was unveiled to launch BBC Music this week, with proceeds of sales going to Children In Need.
Source-BBC
Oil prices see further declines
Global oil prices have fallen again amid worries about slow global growth and reports that key oil producers want to maintain current output levels.
Brent crude fell to a near four-year low of $87.74 a barrel earlier, before recovering some ground to $88.46.
US light crude oil was down $0.93 at $84.76, close to a two-year low.
Weak economic growth will cut demand for oil. In addition, Reuters reported that Saudi Arabia had indicated it could cope with lower prices.
The gloomy growth outlook weighed on stock markets at the start of trading on Monday, although shares then recovered and the UK's FTSE 100 index was 0.4% higher at 6,366.24. In New York, the Dow Jones opened 13 points higher at 16,556.75.
Last week, the International Monetary Fund shaved its forecast for global growth for this year from 3.4% to 3.3%.
It said overall global growth would be held back by weakness in Japan, Latin America and Europe, with any recovery in the advanced economies "weak and uneven".
Share values have been falling recently, with some analysts arguing they are catching up with economic reality.
Several times this year the UK's FTSE 100 index came close to topping its all time high of 6,930.2, last reached at the end of December 1999. However, since the start of September the FTSE 100 index has lost 10%.
Alastair McCaig, market analyst at City watchers IG, said: "Just over a month ago expectations that the FTSE could break above the 7,000 level were the norm, with the index trading less than 100 points away.
UN Chief Slams Israel Over E. Jerusalem Settlements
U.N. chief Ban Ki-moon is chastising Israel for allowing settlements to advance in east Jerusalem and calling on Israeli Prime Minister Benjamin Netanyahu for leadership to reach a peace agreement with the Palestinians.
Secretary-General Ban was in Jerusalem for talks with the Israeli leader. Their meeting came a day after countries from around the globe pledged $5.4 billion to help rebuild the war-torn Gaza Strip. Large portions of the Palestinian enclave were devastated during the 50-day war between Hamas militants and Israel in July and August.
The U.N. leader said he welcomed Israeli easing of restrictions in Gaza as part of a cease-fire agreement. But Ban said he is "very concerned" about Israel's announcement of plans for the construction of 2,500 homes in east Jerusalem, which Palestinians want as a capital of a future state.
The U.N. chief said the settlements are "in clear violation of international law" and urged Netanyahu to reverse its decision.
The Israeli leader called on Ban to prevent the Palestinians from taking unilateral measures at the United Nations that he said would "undermine" the chances of reaching a peace deal in bilateral negotiations.
ADDRESS TO THE NATION ON 1ST NATIONAL HERITAGE HOLIDAY
My fellow Turks and Caicos Islanders, I give God all the praise and glory. It is with tremendous pride that I as Premier and Minister of Tourism, Culture and Heritage extend congratulations to all residents of the Turks and Caicos Islands on this historic day, as we together recognize and celebrate the first National Heritage Day.
Today, history will truly be made as all persons of us and among us, will join together in a grand celebration of unity as we demonstrate how proud we are as a people and as a country. This October 2014 celebrates not only this historic 1st National Heritage Day, but observes the historic 1st National Heritage Month during which we celebrate our music, our dances, our cuisine, our folklore, our traditional maritime heritage and our historic industries of salt, seafood, sisal and cotton.
As you are already aware, festivals have commenced throughout our islands to commemorate those aspects of our culture that are unique to specific island settlements. From Grand Turk to Salt Cay, to South Caicos our people have embraced this revival of our culture with open arms, and I wish to congratulate the people of Grand Turk and Salt Cay on the past weekend and the people of South Caicos this weekend for the tremendous spirit and pride with which our heritage was displayed.
The passion and enthusiasm of these festivals have not only kindled a similar spirit of national pride in our youth who travelled to these islands to participate in these various activities, but have also warmed the hearts of my generation and our parents as well. I was particularly encouraged after watching performances by the primary school children of Salt Cay, the Iris Stubbs Primary Rip Saw Band in South Caicos and The Blue Hills Breezy Beach House Dancers, that our culture is still very much alive here in our islands. I along with my Government will commit to ensuring that the level of participation by our young children continues to grow, and in so doing ensure not only the preservation of our heritage for our own enjoyment but also enable the evolution of larger and more dynamic cultural festivals that will attract many a visitor to our shores.
It is therefore with great excitement that I look forward to the Sisal and Cotton festival in Middle and North Caicos this coming weekend and the Maritime Festival here in Providenciales on the final weekend. I invite you all to enjoy these as well and at the close of this month we, as Turks and Caicos Islanders, will have had a tremendous amount to be proud of, and for this I thank all who would have participated and contributed in one way or the other.
Today as we embrace our nation, our brothers and our sisters and the richness of our heritage, so too must we continue to embrace all citizens and ethnicities residing amongst us. As we acknowledge the presence of the many cultures which today make up the Turks and Caicos Islands, we welcome all with the caring compassion for which we are known. Americans, Canadians, Europeans, Jamaicans, Haitians, Dominicans and the many other nations within our islands, today I say to you all however, though you will celebrate your origins, I encourage you to join with us to celebrate the present, as this is your home. Join with us in our ways, and uphold our heritage, as the future is ours together.
So to all I say, today is our day! Today is our day! Today is the day when we shall put aside our differences, political, social, ethnic or racial to come together as one and on one accord as we celebrate all things Turks and Caicos.
Today is a proud day, today is a great day and the only day that will be greater in the history of these islands, will be that day when we celebrate together as a people and as an independent nation. We recognize and hail this historic day as yet another step along that great road to nationhood. However, let us first remember that we as a people must always embrace who we are, and our origins, no matter how humble, as these alone can determine where we are going. For if we are to reach that triumphant day of self-determination, then we must begin to embrace ourselves and to love ourselves, to love each other and to love everything that the Turks and Caicos Islands has to offer. It means that we must renew our kinship and once again strengthen family values by being our brother’s keeper, raising respectful children and caring genuinely for our elderly, as these core values will restore a sense of community. Let us take greater pride in our surroundings, as by these actions and with a true spirit of patriotism, we will demonstrate daily that we are Turks and Caicos Islanders, and we are proud of these beautiful by nature islands that we call home.
I am charging us all this day, to begin this journey with pride, let us wave our flags, join our hearts and join our hands, and as we salute the toil and sweat of our fore-fathers and our generations of long ago, let us shout with joy, in one accord and as one people, “we are proud to be Turks and Caicos Islanders.”
I congratulate you my fellow people and I celebrate you. May God bless us all and may He bless these beautiful by Nature Turks and Caicos Islands, now and always.
Prison officers focus on health
HER MAJESTY’S PRISON in Barbados the HM Dodds held its annual health and wellness day today.
About 400 prisons officer are currently employed at the institution and coordinator of the event Sophia Sandiford said that their interest this year was overwhelming.
Sandiford said that the job of a prison officer was arguably one of the most stressful and these types of events were essential.
“Health is very important. The job in itself is a very stressful job so we want to provide an avenue so persons can have their various tests done. They may not be able to get off work on time to get such stuff done so it is very important that we bring it to the staff, make it more accessible for them to participate in these activities,” she said.
Prison week began on Sunday with a church service and will culminate on Friday with a Sports Day at the penal institution. Source-SDB Media