Word: jpmorgan
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...political consequences of Calderón's boldest economic-reform move are yet to be revealed. Foreign investors cheered the decision. "This a very good signal," said Gabriel Casillas, head Mexico economist for JPMorgan Chase, in comments representative of the enthusiasm of foreign investors. "It indicates that Calderón could carry out other structural changes to modernize Mexico." Many electricity customers are also looking forward to changes after years of complaining of high bills and poor service. But Esparza has called on fellow unions to take to the streets to fight the measure, and the outcome of the battle...
...land and off its Persian Gulf coast. After BP and Reliance halted exports to Iran, Chinese state-owned oil companies filled the gap, supplying about one-third of Iran's gasoline imports as of last month, according to the Financial Times. Lawrence Eagles, head of commodities research at JPMorgan, told the paper last week that Iran was importing 30,000 bbl. to 40,000 bbl. a day from Chinese companies. And Malaysia's state-owned oil company Petronas delivered three shipments of gas to Iran last month, each containing about 93,000 bbl., according to Stratfor. (See a brief history...
...proposals have sparked grumbling among bankers, especially in Europe, because the requirements would crimp their profitability. JPMorgan this month estimated that, if key measures like increased capital requirements are implemented, the average return on equity of investment banks would drop by one-third. "It's out of the question to systematically increase layers of capital in the banks if there's no supplementary risk," says Ariane Obolensky, managing director of the French Banking Federation. But the tide is against such critics. As Stark of the ECB put it in a speech this month, "the simple statement that 'if banks...
...JPMorgan analyst Tien-Tsin Huang says lower interchange fees could also pose a risk. "You could cut it by 20 basis points, but my worry is that if you do that, as [security] innovation goes down, fraud goes up," he says...
...redouble its efforts to strengthen trade and diplomatic ties with its neighbors - not only to counteract China's growing influence in Asia, but also to grab a greater share of fast-growing Asian markets. "Japan can benefit from high Asian growth rates even with low domestic demand," says JPMorgan's Kanno. Closer relationships with Asian economies, including China, can be facilitated by participating in regional free-trade agreements; in particular, Japan could win more friends by opening up its agricultural sector to cheap food from overseas in exchange for greater access to Asian markets for its higher-margin goods...