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NPR

JPMorgan CEO: $2 Billion Loss Was Indefensible

JPMorgan Chase CEO Jamie Dimon was on Capitol Hill Wednesday to answer questions about the surprise $2 billion trading loss the bank announced in May.
NPR

New Internet Suffixes Are The Web's Newest Frontier

The Internet Corporation for Assigned Names and Numbers — or ICANN — announced Wednesday which companies or entities have applied to administer top level domains like ".google" or potentially ".drink." Some say it has implications for consumers because it could increase potential for Internet fraud.
NPR

Obama Team: Household Net Worth Actually Rose During His Presidency

Using additional Federal Reserve data, White House officials on the president's National Economic Council argued that while household net worth fell before President Obama took office, it has risen since then and he bears some of the credit.
NPR

JPMorgan Execs Who Bungled Billions May Have To Return Bonuses, Stock

"It's likely that there will be clawbacks," CEO Jamie Dimon told Congress today, invoking a term that those executives certainly didn't want to hear.
NPR

Sharp Drop In Gas Prices Puts Brakes On Inflation

Wholesale prices fell 1 percent in May from April thanks to an 8.9 percent plunge in the price of gasoline.
NPR

JPMorgan Chase CEO To Testify On Trading Losses

Jamie Dimon will be on Capitol Hill on Wednesday testifying about massive trading losses at the nation's biggest bank. The CEO of JPMorgan Chase is expected to apologize for a hedging strategy that led to a multibillion-dollar loss. In prepared remarks, Dimon says despite those losses, the bank's overall balance sheet remains solid.
NPR

Study Of Bank-Robbing Shows It Isn't A Lucrative Job

A team of economists studied bank heists in the U.S. and U.K. to figure out whether bank robbery is a lucrative profession. The research, published in the journal Significance, found the average takeaway per robber is about $4,000 in the U.S. There's a much better return in the U.K., closer to $20,000.

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