News Jamie Dimon, JP Morgan's chairman and chief executive, apologised for initially dismissing the affair as

Wall Street Bank agrees to make payouts to four regulators in compensation for derivative losses in 2012 costing $6.2bn

Investing made easy the Charles Schwab way

It is mid-morning at the Park Avenue branch of Charles Schwab and the lunch-hour rush has yet to materialise. Two men - one in a dark suit, another in jeans and a jumper - are eyeing the numbers on an electronic zipper on the office's back wall while they wait for a turn at one of a pair of computer terminals. Another has moved to the trading phone booth to place an order.

US firm buys ShareLink

Charles Schwab Corporation, America's largest discount broker, yesterday made an agreed bid for ShareLink, the Birmingham-based share-dealing group. The merger could transform the way private investors in the UK buy stocks and shares.

Suit sinks Govett US merger hopes

Govett, the fund manager, pulled the plug yesterday on its planned merger with Duff and Phelps in the US, after worries over a lawsuit sent Govett's share price plummeting.

Japanese beneficiaries


Expansion bears fruit as Govett advances to $55m

Govett, the City fund manager, last year tasted the fruits of its expansion, reporting higher pre-tax profits despite difficult conditions in financial markets.

Russian brokers hit rouble trouble

Players on Russia's stock market said some commercial banks were refusing to make hard currency payments for equity purchases from brokerage houses, citing a controversial foreign exchange ruling.

Fears of job cuts at JP Morgan

JP Morgan, the American investment bank at the centre of rumours it may be seeking a merger with its UK rival SG Warburg, is launching a campaign to cut costs. Morgan yesterday refused to confirm or deny reports of plans to sack a tenth of its wo rkforce.

Another head rolls at Kidder as Jett supervisor is axed: Report crticises brokerage firm for lax oversight, poor judgement and missed opportunities

KIDDER PEABODY, the Wall Street brokerage, has fired yet another senior executive as a result of its internally commissioned investigation into a trading scandal on its fixed income desk. The findings were released yesterday. The head to roll was that of Melvin Mullin, in charge of fixed income derivatives and former supervisor of Joseph Jett.

Trading revenues dive at JP Morgan

TRADING revenues at JP Morgan, the first big US bank to report first- quarter earnings, fell sharply as a result of recent market upheavals, pushing net earnings down 20 per cent to dollars 345m ( pounds 235m).

WEW expansion

WEW Group, formerly Amber Day, plans to expand its What Everyone Wants discount chain into the Midlands and South, more than doubling the number of stores from 58 to 125 over four years. Last week, it completed a pounds 15.5m placing. It also has loan facilities of pounds 20m. Warburg Pincus, the US venture capital bank, lifted its stake from 12 per cent to 25 per cent.

Obituary: Roderick Anthony

Roderick Anthony Watson QC, lawyer, died Castletown, Isle of Man 11 July, aged 73. Appointed QC in 1967 and a Bencher in 1975, he later served as Chairman of the Isle of Man Financial Supervision Committee.

Lloyd's seeks to restrict meetings

A MOVE to stamp out allegedly time-wasting and unnecessary meetings within the troubled Lloyd's insurance market was initiated yesterday by the market's authorities.

Entering China

CHINA has for the first time cleared foreign brokerage houses to deal on the Shanghai securities exchange, and three British firms are likely to be the first in. Jardine Fleming, Standard Chartered and Baring Brothers will be allowed to deal in B shares - stocks aimed at foreign investors and settled in hard currency. 'The three foreign companies are expected to start business in the exchange within the month,' the official Xinhua news agency quoted a spokesman as saying.

View from Tokyo: Brokers will have to bite bullet

STOCKBROKING in Japan these days is about as lucrative as selling central heating in hell - and equally enjoyable. Just to prove the point, of the top 13 brokerages which announced their half-yearly results yesterday, all bar three reported losses. And even the top three which reported making a profit - Nomura, Daiwa and Nikko - registered 90 per cent declines from last year's figures.
The cartoon produced by Bruce MacKinnon for the Halifax Chronicle-Herald on Thursday, showing the bronze soldiers of the war memorial in Ottawa welcoming Corporal Cirillo into their midst
Funds raised from the sale of poppies help the members of the armed forces with financial difficulties
voicesLindsey German: The best way of protecting soldiers is to stop sending them into disastrous conflicts
Nigel Farage has backed DJ Mike Read's new Ukip song
voicesNigel Farage: Where is the Left’s outrage over the sexual abuse of girls in the North of England?
One bedroom terraced house for sale, Richmond Avenue, Islington, London N1. On with Winkworths for £275,000.
The Edge and his wife, Morleigh Steinberg, at the Academy Awards in 2014
peopleGuitarist faces protests over plan to build mansions in Malibu
peopleFox presenter gives her less than favourable view of women in politics
Mario Balotelli has been accused of 'threateningly' telling a woman to stop photographing his Ferrari
peoplePolice investigate claim footballer acted 'threateningly' towards a woman photographing his Ferrari
Life and Style
The Zinger Double Down King, which is a bun-less burger released in Korea
food + drinkKFC unveils breadless meat beast
Arts and Entertainment
A shared vision: Cerys Matthews has been familiarising herself with Dylan Thomas’s material, for a revealing radio programme
arts + entsA singer, her uncle and a special relationship with Dylan Thomas
Career Services

Day In a Page

Independent Travel
Vietnam & Cambodia
Pompeii, Capri & the Bay of Naples
India & Nepal
Berlin, Dresden, Meissen & Colditz
Prices correct as of 17 October 2014
Wilko Johnson, now the bad news: musician splits with manager after police investigate assault claims

Wilko Johnson, now the bad news

Former Dr Feelgood splits with manager after police investigate assault claims
Cerys Matthews reveals how her uncle taped 150 interviews for a biography of Dylan Thomas

Cerys Matthews on Dylan Thomas

The singer reveals how her uncle taped 150 interviews for a biography of the famous Welsh poet
How could three tourists have been battered within an inch of their lives by a burglar in a plush London hotel?

A crime that reveals London's dark heart

How could three tourists have been battered within an inch of their lives by a burglar in a plush London hotel?
Meet 'Porridge' and 'Vampire': Chinese state TV is offering advice for citizens picking a Western moniker

Lost in translation: Western monikers

Chinese state TV is offering advice for citizens picking a Western moniker. Simon Usborne, who met a 'Porridge' and a 'Vampire' while in China, can see the problem
Handy hacks that make life easier: New book reveals how to rid your inbox of spam, protect your passwords and amplify your iPhone

Handy hacks that make life easier

New book reveals how to rid your email inbox of spam, protect your passwords and amplify your iPhone with a loo-roll
KidZania lets children try their hands at being a firefighter, doctor or factory worker for the day

KidZania: It's a small world

The new 'educational entertainment experience' in London's Shepherd's Bush will allow children to try out the jobs that are usually undertaken by adults, including firefighter, doctor or factory worker
Renée Zellweger's real crime has been to age in an industry that prizes women's youth over humanity

'Renée Zellweger's real crime was to age'

The actress's altered appearance raised eyebrows at Elle's Women in Hollywood awards on Monday
From Cinderella to The Jungle Book, Disney plans live-action remakes of animated classics

Disney plans live-action remakes of animated classics

From Cinderella to The Jungle Book, Patrick Grafton-Green wonders if they can ever recapture the old magic
Thousands of teenagers to visit battlefields of the First World War in new Government scheme

Pupils to visit First World War battlefields

A new Government scheme aims to bring the the horrors of the conflict to life over the next five years
The 10 best smartphone accessories

Make the most of your mobile: 10 best smartphone accessories

Try these add-ons for everything from secret charging to making sure you never lose your keys again
Mario Balotelli substituted at half-time against Real Madrid: Was this shirt swapping the real reason?

Liverpool v Real Madrid

Mario Balotelli substituted at half-time. Was shirt swapping the real reason?
West Indies tour of India: Hurricane set to sweep Windies into the shadows

Hurricane set to sweep Windies into the shadows

Decision to pull out of India tour leaves the WICB fighting for its existence with an off-field storm building
Indiana serial killer? Man arrested for murdering teenage prostitute confesses to six other murders - and police fear there could be many more

A new American serial killer?

Police fear man arrested for murder of teen prostitute could be responsible for killing spree dating back 20 years
Sweetie, the fake 10-year-old girl designed to catch online predators, claims her first scalp

Sting to trap paedophiles may not carry weight in UK courts

Computer image of ‘Sweetie’ represented entrapment, experts say
Fukushima nuclear crisis: Evacuees still stuck in cramped emergency housing three years on - and may never return home

Return to Fukushima – a land they will never call home again

Evacuees still stuck in cramped emergency housing three years on from nuclear disaster