JP Morgan more than doubles reported trading loss from $2bn to $4.4bn ‘London Whale’ trader is understood to have left bank’s London office, and compensation has been collected from bankers
The financial hit JP Morgan Chase incurred at the hands of the trader known as the “London Whale” was more than double that previously reported, with losses from the UK operation totalling $4.4bn, the bank admitted on Friday The bank also revealed it had clawed back two years of annual compensation from those involved as it released […]
Read More →Million Pound Startup prize aims to be X Factor for new businesses
More than a decade after the E-Millionaire Show, there’s another big chance to get funding for a startup idea – as long as you’re prepared to relocate to London East London’s Silicon Roundabout: the venue for a £1m business next year? Photograph: Frantzesco Kangaris A competition launched in London aims to create a cross between […]
Read More →Eurozone crisis live: Clashes in Madrid, after Spain announces €65bn austerity plan
Series: Eurozone crisis live Live• Photos from Madrid here and here • PM announces tax rises and public sector cuts • The key points • Miners gather to protest in Madrid • In Italy, Berlusconi plans a return….  Mariano Rajoy, the Spanish prime minister, is explaining the conditions that Spain must accept in exchange […]
Read More →Israeli-trained Colombian soldiers to protect UAE
The United Arab Emirates has reportedly recruited soldiers form the Colombian army’s special forces units to protect the sheikdom in case of heightened tension in the Persian Gulf or domestic unrest. European Phoenix — The oil-rich Arab country offers Colombian soldiers between USD 2,800 and USD 18,000 per year while officers are said to […]
Read More →Oil prices surge before Norway lockout
(AFP)NEW YORK — Oil prices surged Monday as Norway’s oil industry appeared headed for a labor lockout at 2200 GMT with little hint that a shutdown will be avoided in Western Europe’s largest oil and gas producer. After pension talks between the industry and unions failed over the weekend, the industry side raised hopes […]
Read More →Strange vortex discovered on Saturn moon Titan
June 27, 2012: This true color image captured by NASA’s Cassini spacecraft before a distant flyby of Saturn’s moon Titan shows a south polar vortex swirling in the moon’s atmosphere. (NASA/JPL-Caltech/Space Science Institute) Space.com:A NASA spacecraft has spied a vortex swirling in the atmosphere high above the south pole of the Saturn moon Titan, hinting that […]
Read More →Activists seek answers in Trinidad turtle tragedy
KINGSTON, Jamaica (AP) — A Trinidad and Tobago conservation group called Tuesday for a prompt investigation into how government work crews crushed leatherback turtle eggs and hatchlings on a remote beach that experts say is the globe’s densest nesting site for the endangered marine species. Witnesses in Trinidad’s tiny town of Grand Riviere said they saw […]
Read More →S. Korean president’s brother jailed in bribe case
SEOUL, South Korea (AP) — The South Korean president’s brother was arrested and taken to a detention center Wednesday after a court approved a warrant on bribery allegations, a major embarrassment to the ruling party in a presidential election year. The Seoul Central District Court issued the arrest warrant for Lee Sang-deuk, the elder brother of President Lee Myung-bak, […]
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