Latest Business News: JP Morgan Disciplined Star Banker in 2009: Court Documents

Wochit 1:30 mins

Ian Hannam, one of London's most prominent bankers who is fighting to clear his name after a 2012 fine for market abuse, was disciplined by his bank four years ago over his working practices, according to court documents. Hannam's employer at the time JP Morgan Cazenove, a JP Morgan joint-venture, imposed "very significant and extensive restrictions" on Hannam after a disciplinary inquiry in 2009, documents released by Britain's financial regulator showed. For a while now, we've heard about BlackBerry and Windows Phone vendors betting big on expanding their presence in emerging markets by releasing cheaper devices aimed at consumers who are buying smartphones for the first time. But as Business Insider's Jay Yarow points out, there's major obstacle standing in these platforms' paths: No-name Android vendors that are pumping out a flood of cheap phones that sell in the $100 range. Yarow points to new research from?Needham analyst Charlie Wolf showing that no-name Android vendors now account for roughly a quarter of all Android devices, or more than the combined Android market share of HTC, LG, Sony and Motorola. Wolf says that most of these no-name companies are "located in China" New orders for factory goods rose for a second straight month in May, adding to tentative signs of stabilization in manufacturing after a recent slowdown.

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