Philip Chua Business Blog

Archive for September, 2009

JPMorgan Chase named Jes Staley the head of its investment bank, a move that could put Staley in a position to step in as the new CEO should the bank’s current chief, Jamie Dimon, leave.

U.S. chief executives are not ready to step up hiring or capital spending, though a majority expect sales to rise over the next six months, according to a Business Roundtable survey.

The economy shrank less than expected in the second quarter as businesses and consumers trimmed their spending at a slower pace, buttressing beliefs that the economy is now growing.

AP – The chief credit officer of Moody’s Investors Service told Congress Wednesday that a former analyst’s allegations of inflated ratings and conflicts of interest at the firm are groundless.

Reuters – The number of home foreclosures in process and delinquent mortgages rose during the second quarter, while home retention actions also increased, U.S. bank regulators said on Wednesday.

A surprise drop in a key regional economic indicator sent stocks reeling in early trading Wednesday, with the Dow Jones industrials tumbling more than 100 points.

Reuters – Business activity in the U.S. Midwest failed to return to growth in September as expected, and instead got slammed by a decline in production and new orders, a report showed on Wednesday.

Reuters – The U.S. economy contracted in the second quarter at a slower pace than previously thought, while a surprise slide in manufacturing activity in the country’s Midwest region in September pointed to a patchy recovery from recession.

Reuters – U.S. stocks fell sharply on Wednesday as an unexpected fall in business activity in the U.S. Midwest sparked worries about the pace of economic recovery.