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7:48 am
Fri July 13, 2012

JPMorgan: Trading Loss Grows To $4.4 Billion

Originally published on Thu August 30, 2012 2:23 pm

Transcript

RENEE MONTAGNE, HOST:

The largest bank in the U.S., JPMorgan Chase, this morning released its second quarter results. It's net income was $5 billion, but it turns out that loses in a failed hedging strategy involving a secretive trader were much higher than what the bank originally said the loss would be. In fact, JPMorgan lost $4.4 billion last quarter on those risky trades.

As NPR's Yuki Noguchi reports, that's not the full extent of the firm's damage.

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The Two-Way
7:44 am
Fri July 13, 2012

200 Feared Dead In Syria's Bloodiest Day So Far

Kofi Annan says he is "shocked and appalled" by reports of a mass killing in the Syrianvillage of Tremseh.
AP

Originally published on Fri July 13, 2012 8:29 am

The grim numbers vary and independent observers haven't yet been able to get to the scene. But there's word from Syria of what may be the single worst day of bloodshed so far in what's become a long line of such horrible events since protests against the regime of President Bashar Assad began in March 2011:

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Around the Nation
7:24 am
Fri July 13, 2012

Surfing Goats Amaze California Beachgoers

Originally published on Fri July 13, 2012 11:04 am

Transcript

RENEE MONTAGNE, HOST:

World
7:18 am
Fri July 13, 2012

Lebanese Tire Of Protesters Using Tires

Originally published on Fri July 13, 2012 11:04 am

Transcript

STEVE INSKEEP, HOST:

Good morning. I'm Steve Inskeep. People in Beirut are sick of political protests across the country. Protesters have been blocking highways with burning tires. So there was only one thing to do. Yesterday, they held a protest using tires against protests using tires. Instead of burning the tires in the street, they painted the tires many colors. The protesters held up signs reading: We are tired. And a police officer refused to ticket them, saying, their tires are pretty. It's MORNING EDITION. Transcript provided by NPR, Copyright NPR.

The Two-Way
7:17 am
Fri July 13, 2012

JPMorgan Earned $5B In Second Quarter Even After $4.4B Trading Loss

Originally published on Fri July 13, 2012 2:30 pm

Though it suffered an estimated $4.4 billion second-quarter loss related to its bungled trading in some very risky types of investments, JPMorgan Chase said this morning that it still did well enough in its other businesses that it had net income of $5 billion in those three months.

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Books
6:54 am
Fri July 13, 2012

Original Fiction In All The 'Shades' Of Fandom

courtesy of Vintage/Anchor Books

Originally published on Tue July 17, 2012 10:17 am

This Friday the 13th, fans of horror films and hobbits, science fiction and fantasy are descending upon the San Diego Convention Center. They're gathering for the annual explosion of pop culture fandom that is Comic-Con. One of the biggest phenomena in pop culture at the moment will be making an appearance, and it's not a man of steel or a boy slinging webs.

It's a 40-something woman who writes... wait for it... steamy romance.

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Business
5:09 am
Fri July 13, 2012

Geithner Pointed Out LIBOR Concerns In 2008

Originally published on Fri July 13, 2012 11:04 am

Transcript

(SOUNDBITE OF MUSIC)

STEVE INSKEEP, HOST:

NPR's business news starts with a warning about LIBOR.

It came years ago. We now know that Treasury Secretary Tim Geithner pointed out problems with the way that London's key interest rates were set. He did this in 2008, in the midst of the financial crisis at the time he was head of the New York Federal Reserve.

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Business
5:09 am
Fri July 13, 2012

JPMorgan To Reveal Earnings, Trading Losses

Originally published on Thu August 30, 2012 2:26 pm

Transcript

RENEE MONTAGNE, HOST:

And the biggest bank in the U.S., JPMorgan Chase, says it has lost $4.4 billion from its failed hedging strategy involving a secretive trader. That's more than twice the bank's earlier estimate. The company released its second-quarter earnings report this morning, and NPR's Jim Zarroli is with us now to talk about them. Jim, what is the company telling investors this morning about that money?

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Business
5:09 am
Fri July 13, 2012

Team USA Predicted To Take The Most Medals

Originally published on Fri July 13, 2012 11:04 am

Transcript

STEVE INSKEEP, HOST:

Some future news now. The Olympics begin two weeks from today in London, and we can already tell you the likely big winners. China will take the most gold medals, followed by the U.S. and host country, Great Britain. Team USA will win the most overall medals, followed by China and Russia.

RENEE MONTAGNE, HOST:

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Business
5:09 am
Fri July 13, 2012

Uzbekistan Sets Up Rival To Facebook

Originally published on Fri July 13, 2012 11:04 am

Transcript

STEVE INSKEEP, HOST:

And today's last word in business comes from the Central Asian country of Uzbekistan, which by the way, won six medals in the last Olympics. But today's last word is about another kind of competition, this one between social networking sites. And the word is: YouFace. That's the name of a new social networking site that aims to lure local Internet users away from Facebook, and, quote, "boost patriotism among young people in Uzbekistan."

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