On Thursday, Shares of JPMorgan Chase & Co. (NYSE:JPM), lost -2.32% to $62.65.
JPMorgan Chase & Co., joined with partners from PK Housing, Midtown Detroit, Inc., Capital Impact Partners, Invest Detroit and Detroit Economic Growth Corporation in announcing the grand opening of the latest community development project in Detroit financed by the firm’s five-year, $100 million commitment to the city’s economic recovery. Rainer Court, at 711 West Alexandrine Street, adds 36 units of working professional and university student housing in addition to 1,800 square feet of retail space in Detroit’s growing Midtown District.
“Detroit is coming back, and our investments are making a real impact on creating economic growth across the city and providing greater opportunity for more people,” said Jamie Dimon, Chairman and CEO of JPMorgan Chase. “Rainer Court is a great example of how the right kind of capital, partnerships and deep community expertise can produce quality housing for Detroit’s hardworking residents. From Midtown to the neighborhoods, we’re excited to see our investments continue to catalyze Detroit’s recovery.”
JPMorgan Chase & Co. (JPM) is a leading global financial services firm with assets of $2.4 trillion and operations worldwide. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset administration.
Shares of Molson Coors Brewing Company (NYSE:TAP), declined -0.46% to $82.60, during its last trading session, after the regulatory viability of the rumored Anheuser-Busch InBev (BUD) and SABMiller merger was questioned recently.
Molson Coors stock spiked as much as 20% in the previous session due to rumors that InBev and SABMiller were strongly considering a merger.
However, such a merger would be faced with stiff antitrust scrutiny with regulators asking for major concessions from InBev in the U.S. and China, according to The Wall Street Journal.
Together, InBev and SABMiller produce about a third of the worlds beer with global market shares of 20.8% and 9.7% respectively, according to The Journal.
Molson Coors Brewing Company manufactures and sells beer and other beverage products. The company sells its products under the Coors Light, Molson Canadian, Carling, Carling Black Label, Coors Altitude, Coors Banquet, Creemore Springs, the Granville Island, Keystone Light, Mad Jack, Molson Canadian 67, Molson Canadian Cider, Molson Dry, Molson Export, Pilsner, and the Rickards family brands in Canada; and brews or distributes under the Amstel Light, Heineken, Murphys, Newcastle Brown Ale, Strongbow cider, Desperados, Dos Equis, Moretti, Sol, Tecate, Miller Chill, and Miller Genuine Draft brands.
Shares of FirstEnergy Corp. (NYSE:FE), inclined 0.44% to $31.72, during its last trading session.
Crews from FirstEnergy Corp., Pennsylvania utilities are now using smart phones and laptop computers to more efficiently assess damage to the electrical system and assist expedite power restoration efforts in the wake of major storm events.
When severe weather causes power outages, Pennsylvania Power (Penn Power), West Penn Power, Metropolitan Edison (Met-Ed) and Pennsylvania Electric Company (Penelec) personnel make it a priority to identify and address safety issues, such as downed wires and other hazards, in addition to conducting an initial assessment of the damage to send back to dispatchers.
To assist expedite this process, FirstEnergy has developed two new apps that employees can use on mobile devices to automatically enter damage information into the companys outage administration system. In the past, this process relied on paper maps, hand written notes and phone calls between field responders and dispatch offices.
FirstEnergy Corp., through its auxiliaries, generates, transmits, and distributes electricity in the United States. The company operates through Regulated Distribution, Regulated Transmission, and Competitive Energy Services segments. It owns and operates fossil, coal-fired, nuclear, oil and natural gas, wind and solar power, and hydroelectric generating facilities. The company also provides energy-related products and services to wholesale and retail customers.
Finally, Shares of Sibanye Gold Limited (NYSE:SBGL), ended its last trade with -3.63% loss, and closed at $5.04.
Sibanye Gold Limited the biggest producer of South African bullion, agreed to invest in the Waterberg Coal Group to secure coal supplies and allow the company to generate its own electricity, according to Bloomberg.
Sibanye will buy a convertible note from Waterberg’s lenders for A$22.5 million ($16 million) and inject A$8.5 million of working capital into the mining project in South Africa’s Limpopo province, the company said Thursday in a statement. Sibanye has the right to build a 51 percent shareholding in the venture in the 18 months after the deal closes. Bloomberg Reports
Waterberg has the potential to be a medium- to long-term sustainable power solution for Sibanye, Chief Executive Officer Neal Froneman said in the statement. This will facilitate Sibanye securing a reliable energy supply while simultaneously having a greater control over energy costs.
Sibanye Gold Limited owns and operates underground and surface gold operations in South Africa. The company holds interests in the Driefontein Operations covering an area of about 8,561 hectares; the Kloof Operations covering an area of about 20,100 hectares; and the Cooke Operations located in the West Witwatersrand region, in addition to in the Beatrix Operations covering an area of about 16,821 hectares in the Free State province of South Africa.
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