Has JP Morgan Chase’s Goose Cooked?

Goldman Sachs had always been the best of the breed of Wall Street investment banks so much so that everybody wanted to be like it. In the aftermath of Lehman Brothers’ bankruptcy, Goldman also got clobbered. It fell from all time high of 250.70 reached on October 31, 2008 to an all time low of 47.41 on…

Countries With Highest Income Tax

Country Highest Income Tax Rate Average 2010 Income 10. Ireland 48% $50,400 9. Finland 49.2% $49,000 5. (Tied) U.K. 50% $52,320 5. (Tied) Japan 50% $53,200 5. (Tied) Belgium 50% $52.700 5. (Tied) Austria 50% $50,700 4. Netherland 52% $57,000 3. Denmark 55.4% $64,000 2. Sweden 56.6% $48,800 1. Aruba 58.95% N/A Source: CNBC

Around the Net in 10 Posts – Friday May 11, 2012

Here is what I am reading. JP Morgan chief reveals $2bn trading loss caused by ‘sloppiness’ (Guardian) India Takes Middle Road in Manila-Beijing Dispute (WSJ Blogs) After Weak Imports, Investors Say ‘China Down But Not Out’ (Forbes) Easy Useless Economics (The New York Times) Faber Sees ’87-Type Crash If U.S. Stocks Rise Without QE3 (Bloomberg)…

RBI Rupee Intervention: Quick Fix Only

  The RBI’s dramatic step had some effect – the rupee gained against the dollar in early trading – but economists said such stop-gap measures will only work as quick fixes, and without concerted efforts by Delhi toward fiscal consolidation and reform, the rupee is unlikely to recover to a more comfortable Rs50 against the…

China inflation eases to 3.4pc in April

“This confirms that inflation is trending down and that the policy focus will remain on promoting growth,” Zhang Zhiwei, China economist at Nomura in Hong Kong. Company & Finance News from Hong Kong & China | Hong Kong Business News | SCMP.com