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Resignations Begin At JPMorgan After $2 Billion Loss

JPMorgan Chase's chief investment officer resigned over the weekend and will retire. The bank made the announcement Monday morning, but didn't comment on other expected resignations. Last week JPMorgan surprised the markets with a $2 billion trading loss. That loss has revived interest in the Volcker Rule, which is supposed to reduce risk by prohibiting "proprietary trading."

Uneven Economy Evens The Field For Obama, Romney

Lately, key economic indicators seem to be moving sideways. The lack of clear improvement or real weakness has turned the presidential race into a seeming statistical tie.

Facebook's Zuckerberg Turns 28, With Billions Of Reasons To Celebrate

After Facebook's initial public offering at the end of the week, he's due to be worth about $18 billion. But is it time to ditch the T-shirts and hoodies?

Yahoo CEO's Ousting Is Victory For Hedge Fund Pushing Change At Company

Third Point, a hedge fund run by Daniel Loeb, has been arguing that Yahoo needs new leadership and may need a new direction. Now, its preferred candidate for the CEO's post is in that position on an interim basis.

Reports: JPMorgan's Losses Could Top $4 Billion; Three Execs To Resign

People familiar with the situation tell The Wall Street Journal that the bank's losses from a risky trading scheme will continue to mount in coming quarters. They also say, Bloomberg News reports, that JPMorgan may close the office responsible.

Unmanned Aircrafts May Revive Ohio City's Economy

The city of Wilmington, Ohio, was economically devastated three years ago after shipper DHL left town, taking with it thousands of jobs. Economic developers in Wilmington now think one way back is to embrace the unmanned vehicle industry. The FAA recently gave the Air Force permission to test UAVs at the largely vacant Wilmington Air Park.

South Dakota Tries To Avoid Oil Boom's Downside

The oil boom in western North Dakota has sparked a massive migration. Communities that struggled to keep people are now tripling in size as workers from all over seek their fortunes. In South Dakota, officials say there's oil in their state too. But before drillers head toward Mount Rushmore and the Black Hills, North Dakota's experience is being watched closely.

Budget Woes Could Close Philly's Problem Schools

Philadelphia's school district plans to close a quarter of its school buildings in coming years to eliminate a huge budget hole. But parents and activists don't trust the decision-makers. Many of them suspect the plan is a ruse to force charter schools and privatization on the district.