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.
China's consumer prices rose at their slowest rate in 13 months in February as pork prices fell by their most in over a year, a sign that slowing growth rather than rising prices poses a bigger risk to the world's second-biggest economy. The consumer price index rose 2 percent in February from a year earlier, the National Bureau of Statistics said on Sunday, exactly in line with market expectations. And in an indication that China's wobbly economy is fighting substantial slack, producer prices fell for the 24th consecutive month by dropping 2 percent, slightly above forecasts for a 1.9 percent drop. The tepid price data could fuel investor worries about the health of China's economy, which drew new concerns this week after figures showed export growth slumped by nearly a fifth last month.
A wildcat strike at an IBM factory in southern China illustrates how tectonic shifts under way in the country's labor market are emboldening workers to take matters into their own hands, raising risks for multinationals. More than 1,000 workers walked off the job last week at the factory in Shenzhen, bordering Hong Kong, after managers on March 3 announced the terms of their transfer to new ownership under Chinese PC maker Lenovo Group Ltd. Lenovo agreed in January to pay $2.3 billion for International Business Machine's low-end server business. The strike, which continued into Sunday, fits a growing pattern of industrial activism that has emerged as China's economy has slowed.