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State Senator Joe Leibham to not seek recount for last week's election

SHEBOYGAN, WI (WHBL) - Joe Leibham will not seek a recount for last week's 6th House District Republican primary. The Sheboygan state senator lost the four man race to State Senator Glenn Grothman by 219 votes, which was close enough to ask for a recount that would have been paid for by local government units. In a statement made Friday afternoon, Leibham said he has contacted Grothman about his decision and wished him well in the November general election.  He adds he is happy of the ...

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JPMorgan to buy stake in Chinese trust firm: reports

(Reuters) - U.S. bank JPMorgan has agreed to buy a 19.9 percent stake in Chinese trust company Bridge Trust Co, according to media reports.

Bridge Trust is based in Zhengzhou and is majority owned by a state-controlled company China Power Investment Financial Co, the Journal said.

It did not mention the value of the acquisition.

The deal requires approval from the China Banking Regulatory Commission, which is expected in the second quarter, the paper said.

Foreign investment in China's trust companies is limited to 20 percent.

In a separate report, the Financial Times said JPMorgan plans to help Bridge Trust originate, structure and distribute products that will be sold to the firm's growing base of wealthy individuals.

JPMorgan declined to comment to Reuters on the media reports.

(Reporting by Sakthi Prasad; Editing by Kim Coghill)