The Two-Way
7:18 am
Fri May 11, 2012

JPMorgan 'Rogue Trader' Losses Send Chills Through Markets

Originally published on Fri May 11, 2012 9:46 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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Local News
6:45 am
Fri May 11, 2012

Task Force Calls for Prevention, White Supremacist Gangs Grow

New Mexico Gang Task Force official Tamera Marcantel says a meeting of community activists, social workers, tribal officials and police officers at Isleta Pueblo represents a gradual shift in the state's approach to combating gangs. Thursday's meeting, which was organized by the task force and a coalition of advocates, was designed to foster new ideas on gang prevention and ways to reform gang members.

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Entertainment
6:25 am
Fri May 11, 2012

UNM's Outreach Concert Series

Fri. 5/11 10a:  Students of Dr. Karl Hinterbichler, Professor of Music at the University of New Mexico, head out into the Albuquerque community this month for a series of concerts at unusual venues, including a homeless shelter and a juvenile detention center. 

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Business
5:11 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
5:10 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
4:58 am
Fri May 11, 2012

18-Month-Old Girl Turns Up On No-Fly List

Originally published on Fri May 11, 2012 5:10 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."

Around the Nation
3:27 am
Fri May 11, 2012

Arizona Sheriff Arpaio Plans To Fight DOJ Lawsuit

Originally published on Fri May 11, 2012 5:10 am

The Department of Justice has announced it is suing Maricopa County Sheriff Joe Arpaio because of civil rights violations. He became a controversial figure for his tough stance on immigrants. Arpaio says he will not surrender his office and will fight the suit.

Election 2012
3:14 am
Fri May 11, 2012

Romney Apologizes For High School Bullying Incident

Originally published on Fri May 11, 2012 5:10 am

Mitt Romney's presidential campaign is in damage control mode after an article in The Washington Post accused the candidate of bullying in high school. Romney says he does not remember the incidents. Several of his classmates independently recall him going after students who seemed different, vulnerable or effeminate.

Business
3:14 am
Fri May 11, 2012

Business News

Originally published on Fri May 11, 2012 5:17 am

Transcript

STEVE INSKEEP, HOST:

NPR's business news starts with Sony hitting a three-decade low.

(SOUNDBITE OF MUSIC)

INSKEEP: Sony shares fell to their lowest level since 1980 on Japan's Nikkei stock exchange today. That drop follows yesterday's report that the company suffered a net loss of $5.7 billion for the last fiscal year. The once dominant tech company has fallen behind other industry giants like Samsung and Apple, and has seen especially heavy losses in its TV division. Transcript provided by NPR, Copyright NPR.

Business
3:14 am
Fri May 11, 2012

The Last Word In Business

Originally published on Fri May 11, 2012 5:40 am

According to a survey by the National Retail Federation, mothers will be treated to a little more this holiday. All told, American consumers are expected to spend about $18.6 billion on the moms, stepmoms or grandmas in their lives.

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