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JPMorgan Chase’s Plans to Eliminate 20 Investment-Banking Jobs
JPMorgan Chase & Co., the largest U.S bank by assets and market capitalization, plans to eliminate 20 investment-banking jobs in London due to declining market conditions.
According to reports, the staff cuts aren’t related to the $2 billion loss at the New York-based company’s chief investment office in London.
Jamie Dimon, JPMorgan chief executive, said last week the strategy that was responsible for the losses was “flawed, complex, poorly reviewed, poorly executed and poorly monitored.”
Sources told that the company, which has about 8,000 employees in the Lo...
Samsung Announced Galaxy S III in London
On May 3, Samsung Electronics, the world’s largest information technology company, unveiled the next generation Galaxy S III Smartphone in London. It is the successor to the Samsung Galaxy S II.
The new device has a 4.8-inch H-D Super Amoled screen, an 8-megapixel camera and up to 64 gigabytes of storage.
According to company, the S III device will be available in two colors: marble white and pebble blue.
The phone comes in 16 GB, 32 GB, and 64 GB variants, and an additional 50 GB of space is offered on the Dropbox service for purchasers of the device for two years.
Samsung said the device will be powered by the company’s own quad-core 1.4GHz Exynos 4...
MasterCard Profit Increased 25% in First Quarter
On Wednesday, MasterCard Inc, the world’s second-largest credit and debit card network, reported a 25 percent increase in first quarter profit as consumers spent more with their cards.
Master Card announced that its net income in the first quarter was $682 million, or $5.36 a share, compared with $562 million, or $4.29 a share in the same period last year.
Ajay Banga, MasterCard’s chief executive officer, said the number of transactions processed increased 29 percent to 7.7 billion, “the highest quarterly growth rate since our IPO, as well as positive volume growth in all regions as consumers continue to adopt electronic payments.”
“We are leveraging opportunities around ...
Fiat’s 1Q Profit Rose due to Chrysler’s Strong Sales
Fiat Group, announced on Thursday that it earnings rose in the first quarter thanks to “the significant contribution from Chrysler.”
Fiat lost $274 million in Europe, it was only regional loss. Fiat’s revenue dropped 5.4 percent due to declining European auto sale.
Despite revenue in Europe falling by 13.1 percent to 4.5 billion euros, Fiat said it was on track with its business plan and confirmed all of its targets for 2012.
Chrysler’s auto sales increased 33 percent to 523,000 vehicles in the quarter. Fiat said net profit totaled 379 million euro, up ...
U.S. Home Prices declined in February
According to a new report out Tuesday, home prices in 20 U.S. cities declined in February, pointing to stabilization in the housing market.
The S&P/Case-Shiller home price index showed that prices fell in February from January in 16 of the 20 cities it tracks.
According to index, home prices dropped 0.8% from January to February, and 3.5% from February 2011.
“Broadly-speaking, home prices continued to decline in the early months of the year,” said David M. Blitzer, chairman of the index committee at S&P Indices.
Fifteen of the 20 cities in the index showed a year-over- year decline, led by a 17 percent plunge in Atlanta, a record for the city. Phoenix showed the bi...
Apple Defends the New iPad in Australia
Apple Inc, the world’s most valuable company, said Thursday in an Australian federal court that Australia’s networks are mislabeled, not the latest iPad.
The latest generation tablet, which is compatible with 4G networks in the United States, does not work on Australian 4G networks.
The Australian Competition & Consumer Commission accused Apple last month of misleading customers with its new iPad, which claims the iPad is Wi-Fi + 4G, according to Australian sources.
According to AppleInsider, the third generation iPad uses the 700MHz and 2100MHz frequencies to connect with so-called 4G networks and can only use latter in Australia.
“There was at all material times information widel...
Mark Zuckerberg bought Instagram for $1 Billion
Last week, Facebook bought Instagram for $1 billion, agreeing to pay 30% in cash and 70% in stock.
Instagram is an app for iPhones and Android-based smartphones that allows users to take a photo and transform their photograph using 11 different filter effects, sharing them with other Instagram users and websites.
Facebook’s chief executive, Mark Zuckerberg, moved quickly on the deal, buying the photo-sharing app Instagram for $1 billion ever without consulting his board of directors, according to media sources.
27-year-old Zuckerberg has 28% of Facebook’s stock and controls 57% of Facebook’s its voting rights, allowing him to act independently if he wants. 28-year-old ...
World Bank Named Jim Yong Kim as its New President
On Monday, Jim Yong Kim, president of Dartmouth College and expert in public health, was chosen to be the new president of the World Bank.
52-year-old Kim, a surprise nominee of President Barack Obama, was selected Monday in a vote by the World Bank’s 25-member executive board. Kim will succeed the World Bank President Robert Zoellick, whose term ends on June 30.
Dr. Kim worked with international organizations, serving as a director of the Department of HIV/AIDS at the World Health Organization. Kim was one of the founders and former executive director of Pa...
More homes receiving foreclosure notices
The latest reports showed that more U.S. homes received first-time foreclosure notice last month.
According to RealtyTrac Inc., the number of homes receiving foreclosure notices increased 7 percent in March from the previous month.
Foreclosure filings in the first quarter were down 2% from the fourth quarter of 2011 and 16% from the same period last year. It was the lowest level in more than four years, according to RealtyTrac Inc.
“The low foreclosure numbers in the first quarter are not an indication that the massive reservoir of distressed properties built u...
Hybrid Owners Chose Another Vehicle When Returning To The Market
A new study released Monday by automotive industry research firm Polk suggests that that only 35 percent of hybrid owners bought another hybrid when they returned to market last year.
“Having a hybrid in the product lineup can certainly give a brand a competitive edge when it comes to attracting new customers,” said Brad Smith, director of Polk’s Loyalty Management Practice.
“The repurchase rates of hybrid vehicles are an indication that consumers are continuing to seek alternative solutions to high fuel prices.”
Hybrid vehicles represent only 2.4 percent of the new car market last year, down from a record high of 2.9 percent in 2008, according to the Polk study....
Other Featured Stories
- JPMorgan Chase’s Plans to Eliminate 20 Investment-Banking Jobs
- Samsung Announced Galaxy S III in London
- MasterCard Profit Increased 25% in First Quarter
- Fiat’s 1Q Profit Rose due to Chrysler’s Strong Sales
- U.S. Home Prices declined in February
- Apple Defends the New iPad in Australia
- Mark Zuckerberg bought Instagram for $1 Billion
- World Bank Named Jim Yong Kim as its New President
- More homes receiving foreclosure notices
- Hybrid Owners Chose Another Vehicle When Returning To The Market
Other News
Google’s Glasses Will Go on Sales Later This Year
Google unveiled on Wednesday its “Project Glasses”, a pair of augmented-reality glasses that allows you to navigate the Web through your field of vision.
“A group of us… started Project Glass to build this kind of technology, one that helps you explore and share your world, putting you back in the moment,” said a statement from Google X.
“We’re sharing this information now because we want to start a conversation and learn from your valuable input.”
In a video released yesterday, Google showed how it might work. The glasses will have the capability to offer users information about the weather, messages, chat and appointments, location right in their field ...
Osama bin Laden ran in Pakistan after the Sept .11 Attacks
The youngest wife of Osama bin Laden told to investigators that her husband, the former al Qaeda leader, ran inPakistanafter the September 11 attacks.
Bin Laden spent nine years in Pakistancities where he fathered four children with his youngest wife, 30-year-old Amal Ahmed Abdel-Fatah al-Sada.
Fatah and bin Laden’s two other wives were arrested after the U.S raid that found and killed the leader of al Qaeda in Abbottabad.
After the September 11 attacks, bin Laden’s family members scattered, with al-Sada and her daughter Safia traveled to Karac...
Marketing and Advertising Strategies
Marketing is an integral part of any business or service sector in today’s world. Marketing can help any organization to sell its products or to offer its services by considering the customers’ requirements.
A market research can be done by telephonic conversation, personal interview, feedback forms etc. in order to know the customer’s requirements. This can increase the sales of particulars products and increases the profit and market value of the organization.
Marketing can be done in various ways. The most common method is by advertising. Advertising the product in media, newspapers, magazines, hoardings, public transport etc helps the customer to know the...
New iPad Confronting with Heating and Poor Wi-Fi Reception Issue
Apple’s third generation iPad is available on sale for almost a week and is coming in 24 countries now.
Apple, one of the world’s biggest technology companies, announced that it sold three million of the new iPad as they went on sale last Friday.
The new iPad is the world’s most popular tablet due to its improvements. The new Apple tablet has a high retina resolution (2,048 x 1,536). It comes with a 5 megapixel iSight camera with advanced optics capable of recording 1080p video. The new tablet supports faster 4G LTE.
However, some users complained about the heating and poor Wi-Fi reception issue in the new Apple iPad.
Some users reported currently that the new tablet is uncomfortable to ...
US Federal Reserve Made a Profit of $77 Billion in 2001
The U.S. Federal Reserve, one of the most profitable bank in the world, earned $77,4 billion in 2011, according to financial statement issued on Tuesday.
The central bank earned a second-highest amount in its history last year, allowing to cover its expenses for 2011 and send $75,4 billion to the U.S. Treasury, according to sources.
In addition, the Federal Reserve made the biggest profit last year, compared with U.S. five largest banks, such as JP Morgan Chase, Bank of America, Citigroup, Wells Fargo and Goldman Sachs.
New Apple iPad Launched on Friday
The third generation iPad, the world’s most popular tablet due to its improvements, went on sale on Friday in US and nine other countries.
According to a research firm’s analyst, the components of the new iPad are more expensive than those of the iPad 2.
The new device includes a high resolution Retina display, increasing to 2,048 x 1,536, which is significantly better than the competition’s displays at the moment.
The current tablet comes with a 5 megapixel iSight camera with advanced optics capable of recording 1080p video.
The new iPad includes hardware for 4G LTE networking from carriers Verizon and AT&T. It can use faster 4G network in US and Canada.
Kim Kardashian Pays $40,000 a Month for New Mansion
31-year-old realty star Kim Kardashian moved out of her Beverly Hills mansion that has an enormous square foot property.
The star moved into a new luxury mansion in the same area. Kim is renting the new home for $40,000 a month, according to sources.
The property has four luxury bedrooms, six bathrooms and is surrounded by a breathtaking tropical landscaping and a stunning pool. It also offers amazing mountain views.
Kim Kardashian said that she decided to move after a man appeared at her house with luggage and refused to leave, indenting to stay with her.
According to realtors, the property was built in 2003 and has been on the market more than a year, listed for
Heidi Klum Speaks about Divorce from Seal
In a new interview with Elle magazine, Heidi Klum finally opened up about her separation from Seal, her husband of seven years.
The 38-year-old supermodel said that she feels like she is “in the eye of the tornado.”
“I feel like I’m in the eye of the tornado. It’s emotions inside of your body that are a tornado. And then the outside world doing all this craziness — with you wanting it or not wanting it — is another tornado. But as hard as it is, so is life. And sometimes I think a curve-ball just comes at you” Klum told the Elle magazine.
Heidi and Seal split after seven years of marriage with problems that they tried to keep private. The couple announced their separation for the first time in January, but until now Heidi Klum had...
Facebook was Unvailable due to “Technical Difficulties”
On Wednesday, Facebook was not available to access for a number of users in some countries in Europe, including Tunisia and South Africa.
The social network was down temporarily in Europe because of “technical difficulties”, according to company reports.
“Today we experienced technical difficulties causing the site to be unavailable for a number of users inEurope,” a Facebook spokesman said. “The issue has been resolved and everyone should now have access to Facebook. We apologize for any inconvenience.”
Users reported problems accessing their Facebook account in many countries like Iceland, France, Germany, UK, Italy, South...
Students return to Ohio’s Chardon High School
Students at Ohio’s Chardon High School returned to class today for the first time since Monday a 17 year-old male student killed three teens and wounded two others.
According to authorities, suspect T.J Lane was charged Thursday with three counts of aggravated murder, two counts of attempted aggravated murder and one count of felonious assault in juvenile court.
No motive was determined as to why the 17 year old boy fired 10 shots at a group of students sitting at a cafeteria table. Prosecutor David Joyce said that victims were selected randomly.
Frank Hall, a football coach and a study hall teacher, said he saved lives wh...
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Latest Headlines
- JPMorgan Chase’s Plans to Eliminate 20 Investment-Banking Jobs
- Samsung Announced Galaxy S III in London
- MasterCard Profit Increased 25% in First Quarter
- Fiat’s 1Q Profit Rose due to Chrysler’s Strong Sales
- U.S. Home Prices declined in February
- Apple Defends the New iPad in Australia
- Mark Zuckerberg bought Instagram for $1 Billion
- World Bank Named Jim Yong Kim as its New President
- More homes receiving foreclosure notices
- Hybrid Owners Chose Another Vehicle When Returning To The Market