business

Business
6:48 am
Fri July 13, 2012

JPMorgan: Trading Loss Grows To $4.4 Billion

Originally published on Thu August 30, 2012 1:23 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
12:52 pm
Thu July 12, 2012

Yahoo! Confirms Data Breach; 400,000 Passwords At Risk

The Yahoo sign in Times Square in a 2006 file photo.
Don Emmert AFP/Getty Images

Originally published on Thu July 12, 2012 12:56 pm

Yahoo said today that hackers had stolen and posted a file that contained 400,000 usernames and passwords.

The New York Times reports that those credentials were used not only for Yahoo! services but to services such as Gmail, AOL, Hotmail, Comcast, MSN, SBC Global, Verizon, Bellsouth and Live.com.

The Times' Bits blog reports:

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Business Image
12:17 pm
Thu July 12, 2012

Business group seeks to update New Orleans' image

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.

Business
11:39 am
Thu July 12, 2012

Nicholls business dean named president of LCPA

The business dean at Nicholls State University is now the president of the Society of Louisiana Certified Public Accountants for 2012-2013.

Shawn Mauldin received the group's 2005 lifetime award for achievement in accounting information, and is a past president of its south central chapter. The LCPA has 6,300 members statewide.

Mauldin has bachelor's and master's degrees in business administration with an emphasis in accounting from Nicholls State and a doctorate in accounting from the University of Mississippi.

NPR Story
4:23 am
Thu July 12, 2012

The Last Word In Business

Originally published on Thu July 12, 2012 11:21 am

Transcript

STEVE INSKEEP, HOST:

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.

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Colonial Golf & Country Club
8:52 pm
Wed July 11, 2012

Colonial Golf & Country Club sale approved

A federal bankruptcy judge has approved the sale of Colonial Golf & Country Club's 88-acre property to businessman John Georges and real estate developer Wayne Ducote.

Judge Elizabeth Magner congratulated the parties assembled Wednesday after confirming the Harahan-based club's Chapter 11 reorganization plan.

The Times-Picayune reports the 87-year-old club closed in January and declared bankruptcy in February, a day before the property was to be sold at a state court-ordered auction.

The Salt
4:00 pm
Wed July 11, 2012

Wake Up Call To Grocery Stores: Young People Shop Around

The millennial generation doesn't shop at the grocery store the way their parents and grandparents do.
iStockphoto.com

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.

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The Two-Way
3:35 pm
Wed July 11, 2012

'Wall Street Journal': Seven Years After Burst Bubble, 'The Housing Bust Is Over'

A moving truck is shown at a house that was sold in Palo Alto, Calif. on Tuesday.
Paul Sakuma AP

The Wall Street Journal is calling it without any couching. The headline:

'The U.S. Housing Bust Is Over'

The lede:

"The housing market has turned—at last.

"The U.S. finally has moved beyond attention-grabbing predictions from housing 'experts' that housing is bottoming. The numbers are now convincing.

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The Two-Way
8:36 am
Wed July 11, 2012

JPMorgan Will Move To 'Claw Back' Millions From Execs Who Bungled Billions

Another kind of claws at work. Meanwhile, JPMorgan is going to see if legal steps will let it "clawback" some money paid to executives.
John MacDougall AFP/Getty Images

Originally published on Wed July 11, 2012 9:20 am

JPMorgan Chase CEO Jamie Dimon predicted this would happen: The bank "plans to reclaim millions of dollars in stock from executives at the center of the trading blunder that shocked Wall Street," The Wall Street Journal reports

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Economy
2:22 am
Wed July 11, 2012

Euro Currency Still Faring Well, For Now

Over the last 13 years, the euro has been worth on average $1.21, only a penny less than its current price of $1.22 per euro.
Michael Probst AP

Originally published on Wed July 11, 2012 11:42 am

The euro touched a two-year low against the dollar Tuesday, as concerns about the eurozone debt crisis continued.

Despite a recession across much of the eurozone and even predictions of the currency's demise, however, the euro has held up relatively well during this crisis.

Over the last 13 year, it has taken on average $1.21 to buy a euro. Now, even in this midst of this crisis, it's worth virtually the same ($1.22).

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