JPMorgan Chase & Co executives have told Bear Stearns Cos employees they will integrate the firm’s prime brokerage and global trade processing businesses, the Wall Street Journal said on Wednesday, citing people familiar with the situation. The newspaper called the moves among the easiest decisions for JPMorgan, which is buying Bear in a transaction now
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Rio Tinto said it rejected BHP Billiton’s BHP.L $147 bln (73.4 bln pounds) takeover offer, aimed at assembling a super mining house, on value only, but warned that mining companies could run the risk of becoming too big. “We rejected BHP’s proposal strictly on the basis of value,” Rio Tinto chief executive Tom Albanese told
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Goldman Sachs forecasts global credit losses stemming from the current market turmoil will reach $1.2 trl, with Wall Street accounting for nearly 40% of the losses. U.S. leveraged institutions, which include banks, brokers-dealers, hedge funds and government-sponsored enterprises, will suffer roughly $460 bln in credit losses after loan loss provisions, Goldman Sachs economists wrote in
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Statement attributable to the Spokesperson for the Secretary-General on Cyprus The United Nations Secretary-General has congratulated the Greek Cypriot leader Demetris Christofias, and the Turkish Cypriot leader Mehmet Ali Talat, on the outcome of their meeting which was hosted by the Special Representative, Michael Møller, on Friday, March 21. In an announcement issued in New
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Dell Inc said on Tuesday the personal-computer industry was experiencing a shortage of laptop batteries partly because of a recent fire at a major supplier, but the company was working with other suppliers to limit any price increases. Dell, the world’s second-largest PC maker after Hewlett-Packard Co, also said prices of its separately sold batteries
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President Nicolas Sarkozy has questioned whether France and Britain could not work together to put pressure on the United States to strengthen the dollar. Sarkozy starts a 2-day state visit to Britain later on Wednesday and in an interview with the BBC, he said the two countries could combine forces in many areas. “For example,
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CSE declines 42% in 1Q’08  The massive decline in equity prices in the first quarter has wiped out EUR 8 bln in wealth from the Cyprus Stock Exchange. After starting the year with a total market capitalization of EUR 20.5 bln, the first quarter carnage saw the CSE Index losing 41.6% and in the
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‘Goodwill’ demands as high as EUR 850,000  Property prices in the capital’s once-busy high street are climbing again as people flock back to the only pedestrian stretch crowded with shops, restaurants and cafes in anticipation of that part of the dividing Green Line finally coming down after four years of talk about it. Presidential
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Redline Communications Group Inc., a leading Toronto-based provider of WiMAX and broadband wireless infrastructure products, announced that UUNET Kenya Ltd. has chosen Redline’s WiMAX Forum Certified RedMAX products for its national WiMAX network. UUNET Kenya will extend its “Beyond Broadband” network to serve corporate customers in Nairobi, Mombasa and Kisumu in 2008. UUNET Kenya initiated
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Somalia is again polio-free, the Global Polio Eradication Initiative (GPEI) announced in Geneva, calling it a ‘historic achievement’ in public health. Somalia has not reported a case since 25 March 2007, a major landmark in the intensified eradication effort launched last year to wipe out the disease in the remaining few strongholds. Against a backdrop of
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