By Chris Witkowsky NEW YORK, March 8 (Reuters-peHUB) - The auction of JP Morgan Chase's private equity business, One Equity Partners, in the market since at least November, has hit an impasse, according to three people with knowledge of the situation. A spokesperson for JP Morgan Chase declined to comment. The bank announced last July it was spinning off One Equity, its last remaining private equity operation, because the unit was not core. JP Morgan Chase was not under regulatory pressure to sell: One Equity would not be affected by the Dodd-Frank financial reform law, which restricts the ability of bank holding companies to own and operate private equity groups, sister news service Reuters reported last year.
That bet has helped equities shrug off bearish data and geopolitical uncertainties in Ukraine, taking the S&P 500 to a series of record highs. "We're hoping the payroll report means we're on a stronger footing going ahead and that we can get more robust growth going forward," said Michael Mullaney, chief investment officer of Fiduciary Trust Co in Boston.
By Alwyn Scott and Tim Hepher NEW YORK (Reuters) - Boeing Co said on Friday that "hairline cracks" had been discovered in the wings of about 40 787 Dreamliners that are in production, marking another setback for the company's newest jet. The cracks have not been found on planes that are in use by airlines and therefore pose no safety risk, Boeing said, adding the problem also will not alter Boeing's plans to deliver 110 787s this year. However, Boeing said the cracks, which also occurred on the larger 787-9 model currently undergoing flight tests, could delay by a few weeks the date when airlines can take delivery of their new planes. The disclosure raised questions about repair costs and a possible minor increase in the weight of the plane, but did not seem to spell major trouble for Boeing, industry experts said.
By Kevin Yao and Adam Rose BEIJING (Reuters) - China's exports unexpectedly tumbled in February, swinging the trade balance into deficit and adding to fears of a slowdown in the world's second-largest economy despite the Lunar New Year holidays being blamed for the slide. A resilient Chinese economy is good news for the world, particularly for major commodity exporters such as Australia.