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Friday, April 11, 2014

Business Today: JPMorgan profit weaker than expected as trading revenue drops

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04/11/2014
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JPMorgan profit weaker than expected as trading revenue drops
(Reuters) - JPMorgan Chase & Co reported a far weaker-than-expected quarterly profit as revenue from securities trading fell in a climate of uncertainty about the strength of the economic recovery and the Federal Reserve's intentions on interest rates.
Producer prices post largest gain in nine months
WASHINGTON (Reuters) - U.S. producer prices recorded their largest increase in nine months in March as the cost of food and services rose, pointing to some pockets of inflation at the factory gate.
Wall Street to open lower after JP Morgan results
NEW YORK (Reuters) - U.S. stocks were set for a lower open on Friday after earnings from JP Morgan Chase, putting the S&P 500 on track to continue its selloff after suffering its biggest drop in two months.
Wells Fargo profit beats estimates, sets aside less for bad loans
(Reuters) - Wells Fargo & Co, the biggest U.S. mortgage lender, reported a better-than-expected 14 percent rise in first-quarter net profit as it set aside less money to cover bad loans.
Exclusive: Microsoft, Apple diverge on bankrolling big patent buyer
SAN FRANCISCO (Reuters) - Patent buyer Intellectual Ventures has persuaded Microsoft and Sony to invest in its latest acquisition fund while Apple and Intel, which invested with IV previously, declined to participate, according to people briefed on the fundraising.
Barclays settles second Libor-linked UK court case
LONDON (Reuters) - Barclays has settled its second lawsuit in a week that alleged the British bank had mis-sold products that were tied to Libor benchmark interest rates.
Safety advocates alarmed by fatal accidents in recalled GM cars
WASHINGTON (Reuters) - Safety advocates say two recent fatal accidents involving recalled General Motors Co cars provide evidence that the automaker should advise owners to take vehicles off the road until they are repaired.
Exclusive: SEC eyes test that may lead to shift away from 'dark pools'
WASHINGTON/NEW YORK (Reuters) - U.S. securities regulators are considering testing a proposed reform that could drive business to major stock exchanges and away from alternative trading venues such as "dark pools" that critics say may be hurting investors by reducing the quality of pricing.
Tesco's problems mount as profit set to fall again
LONDON (Reuters) - Tesco is expected to report a 6 percent fall in annual profit next week, a second straight decline which would pile the pressure on boss Phil Clarke who is struggling to turn around Britain's biggest retailer.
Watchdog FINRA probes banks' bond transactions: WSJ
(Reuters) - Wall Street watchdog FINRA is taking a broad look at the trading profits of banks and other middlemen in some bond transactions to examine whether some money managers are favored at the expense of other investors, the Wall Street Journal reported.
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