October 13, 2013
JPMorgan Chase reports quarterly loss on legal costs
JPMorgan Chase has reported a loss in the third quarter after setting aside $9.2bn (£5.8bn) to cover legal bills. The bank lost $380m during the quarter, compared with a profit of $5.7bn in the same period last year. JPMorgan is currently in talks…
October 13, 2013
Royal Mail shares jump sharply on market debut
Royal Mail shares rose 38% to 455p in their first day of conditional dealings on the London Stock Exchange. The hugely oversubscribed sale was priced at 330p a share, valuing the 500-year-old firm at £3.3bn. At one point, the price hit 459.75p.…
October 13, 2013
Obama would sign short-term debt rise
US President Barack Obama is willing to sign a "clean" short-term increase to the US borrowing limit that is free from Republican budget and policy demands, his spokesman has said. Jay Carney's remarks came amid talks aimed at ending the twin…
October 6, 2013
US shutdown is starting to hit business, says Commerce Secretary
US Commerce Secretary Penny Pritzker has warned that business is starting to suffer from the federal shutdown. Her comments at the Asia-Pacific Economic Cooperation (Apec) came as leaders gathering for the summit voiced worries about the US…
October 6, 2013
Twitter wants to raise $1bn in its stock market debut
Social networking company Twitter has said it plans to raise $1bn (£619m) in its stock market debut in documents filed with US regulators. In the filing, revealed on Thursday, the seven-year-old company said that it now has 218 million monthly…
October 6, 2013
CAL, Fly Jamaica denied US rejects Fly Jamaica, CAL bids for direct Guyana-New York flights
The US Government has denied applications by Fly Jamaica and Caribbean Airlines Limited (CAL) to offer direct flights between Georgetown, Guyana and New York. "By this order we deny the requests of Fly Jamaica Airways Limited, a foreign air carrier…
October 6, 2013
Swiss regulator investigates banks over foreign exchange deals
Switzerland's financial regulator is investigating possible manipulation of foreign exchange rates at several Swiss financial institutions. The regulator, FINMA, said several banks, including some from outside Switzerland, could be implicated.…
October 6, 2013
2,000 local and foreign reps for 2014 competitiveness forum in T&T
Trinidad and Tobago will host about 2,000 foreign and local public and private sector representatives in Port of Spain when the country holds the Americas Competitiveness Forum (ACF) next year. Prime Minister Kamla Persad-Bissessar made the…
October 6, 2013
London seeks talks with Howai over THA budget allocation
Tobago House of Assembly (THA) Chief Secretary Orville London is seeking an urgent meeting with Finance Minister Larry Howai to “discuss financing options that must now be explored” in light of the $2.4 billion allocation provided to the THA in the…
October 2, 2013
US spy chief: Shutdown ‘damaging’
Senior US intelligence officials have warned the shutdown of the US government "seriously damages" spy agencies' ability to protect the US. Director of National Intelligence James Clapper told a Senate panel that an estimated 70% of intelligence…