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Dispatches: JP Morgan in China joint venture

JP Morgan Chase unveiled a Chinese securities joint venture Wednesday in the latest move by a global investment bank to tap the mainland’s lucrative capital markets. (Financial Times)

Jobs growth in Singapore will ease in the third quarter. But employers here – especially in the services sector – remain among the most optimistic worldwide. The latest survey by US-based employment services firm Manpower Inc found that 27 per cent of employers in Singapore expect to raise headcount in Q3. (Asia One)

China’s securities regulators Wednesday approved the Agricultural Bank of China’s initial public offering application as the lender finalized preparations for its dual listing in Shanghai and Hong Kong. (China.org.cn)

Tora Trading Services, a San Francisco-based financial services provider, plans to offer “dark pool” stock trades in Hong Kong by the end of this month. (The Standard)

Shinsei, the struggling Japanese bank in which private equity group JC Flowers has a 33 per cent stake, needs another decade to build a business model that can generate sustainable profits, according to the bank’s incoming president. (Financial Times)

An Australian hedge fund is suing Goldman Sachs Group for more than $US1 billion over an investment in a subprime mortgage-linked security that contributed to the fund’s demise in 2007. (Business Day)

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