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Archive for September, 2009

JPMorgan shuffles its senior ranks

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.




Survey: CEOs still not ready to hire, spend

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.




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Economy shrinks at slower pace in Q2

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.




Moody’s exec denies claims of inflated ratings (AP)

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.

U.S. Q2 home foreclosures, mortgage delinquencies up (Reuters)

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.

Stocks slide on drop in manufacturing

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.




U.S. Midwest business slips unexpectedly in Sept (Reuters)

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.

U.S. economy shrinks less in second quarter (Reuters)

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.

Wall Street drops on surprise fall in Chicago PMI data (Reuters)

Traders work on the floor of the New York Stock Exchange, July 15, 2009. REUTERS/Brendan McDermidReuters – 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.


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