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.
The president of a business organization in New Orleans says the group is focusing on changing the image the city presents to businesses that are thinking about relocating or expanding.
Rodrick Miller, president and CEO of the New Orleans Business Alliance, told a luncheon Wednesday that many people often associate New Orleans with Bourbon Street, jazz and its port. But Miller said they don't think about the new things coming to the city like the film industry and technology companies.
Sometimes friends become more than friends and Facebook just won't do. And if the friend in question are dogs, they may want to hear today's last word in business.
(SOUNDBITE OF SONG, "PUPPY LOVE")
PAUL ANKA: (Singing) And they called it puppy love, oh I...
RENEE MONTAGNE, HOST:
Brazil's dog population is second only to the U.S. Two entrepreneurs - a brother and sister team - are hoping to capitalize on that by building an eight-story hotel for pets. With one floor apparently is dedicated to mating.
Originally published on Wed July 11, 2012 10:31 pm
Supermarkets have spent decades catering to the needs and wants of baby boomers, and now the millennial generation is disappointed with what they're finding at traditional grocery stores, and are shopping elsewhere in greater numbers.
In fact, a new market research report called Trouble in Aisle 5 reports that millennials buy only 41 percent of their food at traditional grocery stores, compared to the boomers' 50 percent.