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Regulator: JPMorgan had ‘inadequate’ risk controls

A top federal regulator says JPMorgan Chase had weak controls in place to contain risk in its investment division that suffered a $2 billion-plus trading loss. U.S. Comptroller of the Currency Thomas Curry is telling a Senate panel that the nation’s largest bank began reducing the amount of hedging it was doing to minimize potential… Continue Reading Regulator: JPMorgan had ‘inadequate’ risk controls

Even higher fares can’t help American Airlines

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Even higher fares couldn’t pull American Airlines out of its financial nosedive. American’s parent, AMR Corp., said Wednesday that it lost $162 million in the third quarter, as fuel spending jumped 40 percent, wiping out higher revenue from fare increases and passenger fees. It was AMR’s fourth straight losing quarter and 14th in the last… Continue Reading Even higher fares can’t help American Airlines

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Stocks slumped again Wednesday as worries about the U.S. economy deepen. The Dow Jones industrial average was down 101 points in afternoon trading, putting in on track for its ninth straight day of losses, the longest losing streak since February 1978. The S&P 500 index was headed for its eighth straight loss. Investors are becoming… Continue Reading Dow average is headed for its ninth straight loss

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