Back on January 14, we noted that JPMorgan did something they haven’t done in 22 quarters: the bank increased its loan loss provisions.
The "reserve build of ~$100mm [is] driven by $60mm in Oil & Gas and $26mm in Metals & Mining within the commercial banking group,” the bank said.
Authored by Rob May, originally posted at Medium.com,
Submitted by Richard Ebeling via EpicTimes.com,
Eighty years go, on February 4, 1936, one of the most influential books of the last one hundred years was published, British economist, John Maynard Keynes’s The General Theory of Employment, Interest and Money. With it was born what has become known as Keynesian Economics.
An MoD report says that America’s top military leader ordered President Obama to avoid attending the funeral of US Supreme Court Justice Antonin Scalia last week following an admission that Scalia was murdered. U.S. General Joseph Dunford ordered the President to steer clear of the funeral following a conversation he had with Russian Colonel General Bondarev in which he was asked why Obama had attended a secret meeting with Scalia shortly before his death and why no autopsy had been conducted.
Russia have requested permission from the U.S. to fly a surveillance planed equipped with an electro-optical imaging sensor over America. American officials have objected to the request but may have to grant permission nonetheless due to the Open Skies Treaty that both Russia and US signed – an agreement that allows for unarmed observation flights over 34 member nations. Engadget.com reports: The treaty was originally designed to increase the military transparency of member nations.