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Business
2:48 am
Fri May 18, 2012

Hewlett-Packard Set To Layoff 30,000 People

Originally published on Fri May 18, 2012 2:49 pm

Transcript

STEVE INSKEEP, HOST:

NPR's business news starts with layoffs at HP.

(SOUNDBITE OF MUSIC)

INSKEEP: Technology giant Hewlett-Packard is poised to eliminate as many as 30,000 jobs worldwide. These cuts, though, will reportedly spare China - the company's largest source of growth, as well as its research and development divisions.

NPR's Wendy Kaufman reports.

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Business
2:48 am
Fri May 18, 2012

Did Bank's Culture Lead To JPMorgan's Big Loss?

Originally published on Fri May 18, 2012 2:49 pm

Transcript

DAVID GREENE, HOST:

The head of JPMorgan Chase, Jamie Dimon, has gotten an invitation to testify in front of the Senate Banking Committee about his bank's recent trading loss of at least $2 billion.

STEVE INSKEEP, HOST:

Dimon is very much the public face of his firm. In a Wall Street culture where banks are defined as much by the executives who run them is by the assets they hold. So, what kind of culture led to the multibillion dollar losses at JPMorgan Chase?

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Business
2:48 am
Fri May 18, 2012

The Last Word In Business

Originally published on Fri May 18, 2012 2:49 pm

Transcript

STEVE INSKEEP, HOST:

And today's last word in business is: free flight - to somewhere less exotic than Nepal.

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Election 2012
2:48 am
Fri May 18, 2012

GOP Group Abandons Racially Tinged Attack Ad

Originally published on Fri May 18, 2012 2:49 pm

Mitt Romney is disavowing a plan by some wealthy Republicans to attack President Obama for ties to his controversial former pastor. Even the people behind that proposal said they are abandoning it after their idea was plastered on the front page of The New York Times.

The proposal centered on the Rev. Jeremiah Wright, who was a mentor to Obama before the two parted ways during the last presidential campaign.

Republicans unaffiliated with Romney were considering spending $10 million on a racially tinged advertising campaign tying Wright to the president.

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Planet Money
1:20 am
Fri May 18, 2012

The Long, Long, Long Road To New Rules For Banks

Originally published on Fri May 18, 2012 2:49 pm

Would that big, bad JPMorgan Chase trade have violated the Volcker Rule?

It's too soon to say, despite the fact that the rule is part of a two-year-old law.

The Volcker Rule bans deposit-taking banks from making speculative bets. But it allows banks to make investments to hedge risks.

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