Minitrue: J.P. Morgan Hired Son of Commerce Minister
The following censorship instructions, issued to the media by government authorities, have been...
U.S. banks
China Banks Post Record Profits as Rivals Stumble
Bloomberg reports that China’s largest banks posted impressive profits while their European and American counterparts posted losses: Industrial & Commercial Bank of China (601398) Ltd. posted a 29 percent increase in...
Bank of America to Pay $7 Billion for China Construction Stake
Bloomberg reports on Bank of America’s decision to invest $7 billion into China Construction Bank: Bank of America, which is buying Merrill Lynch & Co., will boost the stake in China’s No. 2 bank to 19.13...
Morgan Stanley Posts Loss, Sells Stake to China – Reuters
Reuters reports on China’s recent bailout of U.S. investment bank Morgan Stanley: China has agreed to pump $5 billion into Morgan Stanley as the U.S. investment bank reported a stunning fourth-quarter loss fueled by $9.4 billion of losses in subprime mortgages and other assets. China’s investment, which could translate into as much as a 9.9 […]
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