Apple’s (NASDAQ:AAPL) decision to use a special kind of aluminium on the back of the iPhone 5 has resulted in production difficulties as workers are driven by stringent quality control demanded by Foxconn aimed at reducing nicks and scratches on the smart phone. The problems have resulted in labor trouble, production delays and product shortages.
Mortgage REITs must contend with lower net interest margins as the Fed steps up its purchases of mortgage-backed securities. With margins under pressure dividends might come in for the chop, and shares of REITs such as Annaly Capital Management (NYSE:NLY), American Capital Agency (NASDAQ:AGNC) and Hatteras Financial Corp (NYSE:HTS) are witnessing investors selling.
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According to a report in Reuters, a US state court judge has ruled that JP Morgan (NYSE:JPM) pay more than $ 18 million to a trust that purchased a complex security on JPM’s advice. The security was found to be unsuitable for the trust while the transaction was alleged to be beneficial to the bank – a breach of its fiduciary duty to the trust.
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