JPMorgan Chase is licking its wounds after announcing that it lost at least $2 billion in a hedging strategy that went terribly wrong. The announcement late Thursday sent the bank's shares tumbling more than 9 percent on Friday.
Meanwhile, regulators on both sides of the Atlantic have begun looking into what happened. And there were calls Friday for tighter restrictions on the kind of trades the bank engaged in.
Boston Red Sox left fielder Cody Ross looks down during a seven-run third inning against the Baltimore Orioles at Fenway Park on May 5. The Red Sox trail their division, losing 11 of their last 12 home games.
Actor Steve McQueen, left, and racer Carroll Shelby stand by McQueen's Ford-Cobra roadster, June 28, 1963, in Los Angeles.
Credit Dick Stroebel / AP
Carroll Shelby was a race car driver; he was a racing team owner, a chili entrepreneur. He survived a liver transplant and a heart transplant. But perhaps the thing that most people will remember him for is his automotive creations, especially the Shelby Cobra.
A controversial organization that brings together conservative lawmakers and business lobbyists is meeting today in Charlotte, North Carolina. The American Legislative Exchange Council has been under attack. Liberals have been challenging its role in developing laws in many states. And they question its status as a tax exempt charity.
The conference is behind closed doors. But NPR's Peter Overby is there to cover it and he joins us now. Hi there, Peter.
A story about Mitt Romney's behavior in high school has his campaign in the defensive. The Washington Post has published a long story that details incidents of bullying by Romney when he was a senior at the Tony Cranbrook boys prep school in Michigan. Five former classmates spoke about an incident when Romney led a posse that targeted a student with long bleached-blond hair, tackled him, pinned him to the ground and hacked off his hair as he cried and screamed for help.
French President-elect Francois Hollande waves to supporters with his companion, Valerie Trierweiler, as he celebrates his election victory in Bastille Square in Paris, May 6. Hollande and Trierweiler will be the first unmarried couple to move into the French presidential palace.
The French are known for being more tolerant than Americans about their politicians' private lives. One former French president even fathered a child with a mistress while in office.
But every French leader in history has been married — until now.
Next week, after Socialist Francois Hollande is sworn into office, he and his longtime companion, journalist Valerie Trierweiler, will become the first unmarried couple to move into the Elysee presidential palace.
Greece's radical leftist party Syriza chief Alexis Tsipras (L) shakes hands with Socialists leader Evangelos Venizelos before their meeting at the Greek parliament in Athens on Friday. Venizelos admitted that he had failed in a last-ditch bid to form a government after Syriza key leftist party ruled out joining a pro-austerity coalition.
Credit Louisa Gouliamaki / AFP/Getty Images
Evangelos Venizelos was the third politician mandated by the Greek president to form a coalition government.
Today, reports the BBC, after meeting with the leaders of different parties, Venizelos emerged empty-handed.
"I am going to inform the president of the republic tomorrow and I hope that, during the meeting with Carolos Papoulias, each party will assume its responsibilities," Venizelos told the BBC.
Some two dozen Americans have given $1 million or more to superPACs in the 2012 presidential campaign. The vast majority of them have been Republicans, but one movie mogul has chipped in $2 million to help out the superPAC supporting President Obama.
Jeffrey Katzenberg, the head of DreamWorks Animation studios, was also the co-host of Obama's sellout event Thursday night at the home of actor George Clooney. Katzenberg told the crowd the event raised nearly $15 million, which would make it the most profitable presidential fundraiser ever.
Gay marriage gets an advocate in the White House, but only after Vice President Joe Biden has his say. President Obama's announcement comes a day after North Carolina voters overwhelmingly rejected the concept. And Dick Lugar's 36-year Senate career comes to an end in Indiana. Meanwhile, in the West Virginia primary, Obama defeats a jailed felon from Texas, 59 percent to 41 percent.
Listen to the latest political roundup with NPR's Ken Rudin and Ron Elving.