Word: jpmorgan
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...There is a lot of positive development outside of the U.S.," says Stuart Schweitzer, managing director and global-markets strategist at JPMorgan Asset & Wealth Management. Add in the specter of towering deficits in the U.S. budget and current account, which could ultimately weaken the dollar, and the idea of diversifying overseas becomes even more attractive...
...annual fee of up to 1.25%, depending on its market value. If this fund outperforms its benchmark, Macquarie also pockets a juicy incentive fee of 15% of the profits. "It's a hedge-fund model being applied to infrastructure-asset management," says financial analyst Brian Johnson of JPMorgan Securities...
...Tatas, the Ambanis, the Godrejs--all began in Bombay. The city's stock exchanges account for 92% of the country's total share turnover, and the nation's central bank and hundreds of brokerages and investors have set up their Indian headquarters there, including such global powerhouses as HSBC, JPMorgan Chase and Bank of America. Bombay's port handles half of India's trade, and its southern business district is one of the centers of the global outsourcing boom. India's music industry and much of its media are based in Bombay, as is India's Hindi film industry, Bollywood...
...moral victory is won, says Steve Berman, a Seattle attorney representing some 21,000 employees who lost their pensions. "Now we hope to get them an economic victory." Banks like JPMorgan Chase and Citigroup, who financed Enron's schemes with stock and bond offerings, have already agreed to pay $7.3 billion in restitution to shareholders. They're getting nothing from Skilling and Lay, whom the feds are already dunning for more than $150 million. "There's little chance of recovery from them, but most will be satisfied that Skilling and Lay were convicted," says Robin Harrison of Houston...
...guilty counts - including conspiracy, securities and wire fraud. ?It was a moral victory. Now we hope to get them an economic victory,? said Steve Berman, one of the attorneys representing pensioners ruined by Enron?s demise. In addition to $7.2 billion wrung out of banks like JPMorgan Chase and Citigroup in securities fraud litigation, employees are still waiting to get $260 million for lost benefits...