Tag: told

The Week JPMorgan Told Employees To Return To Work, A Trader Tested Positive For Covid-19

Top-tier investment bank JPMorgan, led by well-respected CEO Jamie Dimon, required its traders, bankers, brokers and research analysts to return to its offices by Sept. 21, after being allowed to work from home for the last six months.  

The bank claims that it’s essential to have people return to its offices. Wall Street runs on access to information and intelligence. Working closely together builds a network that affords the opportunity to share ideas and strategies in real time. Traders, bankers, brokers, compliance, human resources and other personnel rely upon daily discussions and interactions to conduct their jobs. Young employees need mentors, guidance and direction. The synergy, according to JPMorgan, is diminished when its people are disconnected from one another.  

The same week the return-to-work command was made, JPMorgan sent home some of its traders after an employee in the equities trading trading division contracted Covid-19. In response to the

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Nigeria’s central bank told to stop giving forex for food imports

Adds details, context

ABUJA, Sept 10 (Reuters)Nigerian President Muhammadu Buhari on Thursday directed the central bank to stop issuing foreign exchange for food and fertiliser imports, according to a statement by his spokesman.

It follows a similar order the president issued last year that the nominally-independent bank only partly followed, with some food importers still receiving foreign exchange.

But Thursday’s directive will completely ban providing foreign currency for all imported food and fertiliser, the spokesman told Reuters. “Nobody importing food should be given money,” Buhari said.

Since his election in 2015, Buhari has sought to cut foreign imports, particularly agricultural products. Expanding Nigeria’s farm sector is a key pillar of his economic policy.

But the bans on imports like rice have seen prices surge, sparking widespread frustration.

Nigeria’s foreign reserves have been battered as the central bank spends billions of dollars on costly programmes such as propping

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