Planet Money
9:59 am
Fri May 11, 2012

JP Morgan's $2 Billion Loss, Explained

Chris McGrath Getty Images

Originally published on Fri May 11, 2012 11:17 am

What just happened?

JPMorgan Chase, the biggest bank in America, announced that it lost $2 billion on a massive trade placed out of its London office.

What was the trade?

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Shots - Health Blog
9:13 am
Fri May 11, 2012

FDA Gets Advice To Approve First Pill To Cut HIV Infections

Gilead Sciences' Truvada is a step closer to being approved as a way to prevent HIV infection.
Paul Sakuma AP

Originally published on Fri May 11, 2012 10:31 am

In what could mark a watershed in the fight against HIV/AIDS, a panel of experts recommended that the Food and Drug Administration give a green light to a pill that can cut the risk of infections.

The daily pill, Truvada, made by Gilead Sciences, combines two medicines that inhibit the reproduction of HIV. It's already approved as a treatment for HIV, but its use could soon expand to include protection of uninfected people.

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The Two-Way
8:18 am
Fri May 11, 2012

JPMorgan 'Rogue Trader' Losses Send Chills Through Markets

Originally published on Fri May 11, 2012 10:46 am

"It was a bad strategy. It was badly executed."

The words of JPMorgan Chase's CEO, Jamie Dimon, as he admitted late yesterday that the investment bank — or, more precisely, a single "rogue trader" working for the bank, had lost some $2 billion in the last six weeks in risky hedge-fund trades.

The news has sent chills through the markets. Shares of JPMorgan Chase, the largest U.S. bank, lost 7 percent in after-hours trading and British bank Barclays lost 2.9 percent, while more than 2 percent was shaved from Royal Bank of Scotland.

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Business
6:11 am
Fri May 11, 2012

Freddie Mac Names Retired JPMorgan Official CEO

Mortgage broker Freddie Mac named Donald Layton as its new chief executive officer. Layton worked for JPMorgan Chase for nearly 30 years before retiring in 2004.

Around the Nation
6:10 am
Fri May 11, 2012

Alaska Man To Make Uninhabited Island His Home

Charles Baird will be alone on the island for one year. He'll able to send short text messages, but won't be receiving any. By freeing himself from all media, he expects to have enough time to make a documentary about himself.

Around the Nation
5:56 am
Fri May 11, 2012

!8-Month-Old Girl Turns Up On No-Fly List

Originally published on Fri May 11, 2012 6:10 am

JetBlue Airways apologized after removing a passenger from her flight because she was on a no-fly list. The passenger looks innocent enough — maybe because she's 18 months old. Her mother told WPBF-TV in Florida that the idea her daughter is a threat was "absurd" and "made no sense."

Sports
4:34 am
Fri May 11, 2012

White Sox Groom Saladino For Big League Play

Originally published on Fri May 11, 2012 6:10 am

Transcript

DAVID GREENE, HOST:

This spring and summer, we're following two minor league baseball players. We're learning about the pressures on an athlete, the emotional highs and lows, and just what their lives are like. One of the players is a young man named Tyler Saladino. He's in the Chicago White Sox organization, and fans are excited about the future for this 22-year-old.

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Middle East
4:32 am
Fri May 11, 2012

Egyptians Captivated By Televised Presidential Debate

Originally published on Fri May 11, 2012 6:10 am

In Egypt's first presidential debate, only the top two candidates participated. Voters go to the polls later this month to choose among a field of 13 candidates. The winner is expected to be decided in a runoff next month.

Politics
4:14 am
Fri May 11, 2012

Rep. Michele Bachmann Gives Up Swiss Citizenship

Originally published on Fri May 11, 2012 6:10 am

Transcript

STEVE INSKEEP, HOST:

Here's an update on a member of Congress who became a multinational person. As we reported yesterday, former Republican presidential candidate Michele Bachmann is Swiss. She became a dual citizen of Switzerland and the U.S. through her husband, Marcus Bachmann, whose parents are Swiss and who recently claimed his Swiss citizenship.

Business
4:14 am
Fri May 11, 2012

Happy Renters Don't Budge From Homeownership Sidelines

Originally published on Fri May 11, 2012 6:10 am

U.S. homeownership rates have fallen to their lowest point since 1997, despite the homebuyer tax credit and enduring rock-bottom interest rates. Two years ago on Morning Edition, we profiled two couples who were renting with no regrets. Have they changed their tune?

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