COMPANIES

JPMorgan Chase Exec Ina Drew Resigns, $2B Trading Debacle Claims Its First Scalp

JPMorgan Chase & Co CEO Dimon speaks at the Stanford Institute for Economic Policy Research at Stanford University in Palo Alto
First JPMorgan Chase & Co. lost an estimated $2 billion in derivatives trading, and now it has lost one of CEO Jamie Dimon's top lieutenants: Ina R. Drew, JPMorgan Chase's chief investment officer and a bank employee for three decades, will step down on Monday. Matt Zames will take over for Drew, Bloomberg News reported.

Ally Financial's Mortgage Unit Reported To File Bankruptcy

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Ally Financial Inc's Residential Capital unit is nearing a bankruptcy filing, sources familiar with the situation said on Sunday, in a move that could help the taxpayer-owned auto lender to shed its troubled mortgage business but also spur drawn-out legal fights.
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Ally Financial's Mortgage Unit Reported Near Bankruptcy

Ally Financial Inc's Residential Capital unit is nearing a bankruptcy filing, sources familiar with the situation said on Sunday, in a move that could help the taxpayer-owned auto lender shed its troubled mortgage business but also spur drawn-out legal fights.
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Adam Mayes and The Bain Sisters

What Happened To Alexandria Bain and Kyliyah Bain? Details Of The Heroic Rescue [VIDEO]

In the aftermath of the recovery of Alexandria Bain and Kyliyah Bain, authorities are now releasing information about the details that led them to the girls and their kidnapper, Adam Mayes. In a press conference held by the Mississippi Highway Patrol, Master Sgt. Steve Crawford explains how days of searching for the Bain sisters and Adam Mayes, who killed their mother and sister, led them to a red-brick church perched on a hill.
LinkedIn

Silver Lake Partners Expresses Interest In Monster Acquisition: Report

The LinkedIn Corp. (NYSE: LNKD), the business-related social-networking company, considered buying online job-listings provider Monster Worldwide Inc. (NYSE: MWW), but decided against the purchase, according to Reuters. Meanwhile, the private-equity firm Silver Lake Partners continues to have interest.
The Shelby 1000 seen in profile at the New York International Auto Show 2012.

Carroll Shelby's Death Mourned By Company And Friends

Legendary entrepreneur, American muscle-car manufacturer, and race-car driver Carroll Shelby died Friday at the age of 89, according to a statement by his company Carroll Shelby International Inc. (OTC: CSBI.PK). The cause of death was not disclosed.
U.S. Senator Bob Corker

Politicians, SEC, Fitch Draw Bead On JPMorgan

Fitch Ratings on Friday downgraded JPMorgan Chase & Co. (NYSE: JPM), which just revealed at least $2 billion in losses on questionable trading. The downgrade came on the same day that a U.S. senator called for a Congressional probe of the giant bank and the head of the Securities and Exchange Commission confirmed that her agents are eyeing the money center's hedging activity.
Screen shot of the Fisker car fire from AutoWeek.com.

Bad Karma: NHTSA Safety Probe Into Fisker Electric Car Fire Possible

Fisker Automotive has been struggling recently, and reports that one of its post-recall Fisker Karma cars lit up a suburban Houston garage like a match in a fireworks factory are not helping the image of the company, and unlike the grinning Aventador guy, it seems doubtful that the owner of the crisped Karma has anything to smile about since his $103,000 car set fire to his Acura NSX and Mercedes-Benz SUV as well.
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Asian Shares Fall On JPMorgan Shock, China Data Awaited

Asian shares retreated Friday, spooked by JPMorgan's $2 billion loss from a failed hedging strategy, with investors warily watching political turmoil in the euro zone as they await new Chinese data for clues on its growth outlook.
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Shock Of JPMorgan Loss Hits Stock Futures

Stock index futures fell sharply on Thursday evening as JPMorgan Chase & Co stunned investors with news that its chief investment office had incurred significant mark-to-market losses that it said could easily get worse.
Honda CR-V

Top 10 Mom Cars - Honda CRV Favorite For Moms In Cars

With Mother?s Day right around the corner, TrueCar.com released its list of the top 10 most popular cars for moms on Thursday, and the results of what moms in cars prefer aren?t exactly surprising. The data, which the car sales and pricing website collected over the course of 2011, shows that Honda and Nissan are the two companies with the greatest sway among mothers, with their CR-V and Altima models leading the way. Slightly unexpected, though, is that only one minivan, the Honda Ody...
Zuck

The Mark Zuckerberg Hoodie And 13 Other CEOs Who Casually Dress Down [PHOTOS]

It seems that everyone cannot stop talking about Mark Zuckerberg's roadshow to the Facebook IPO, where he angered Wall Street bankers by donning his standard uniform, a hoodie and jeans. But Zuckerberg isn?t the only CEO of a company who chooses to dress down than don a suit. Here are photos of 13 other CEOs who rid of suits.
A woman clad in burqa walks out of the Nejat drug rehabilitation centre, an organisation funded by the United Nations providing harm reduction and HIV/AIDS awareness, in Kabul

The Global Fund Gets $1.6 Billion Shot In Arm

The Global Fund, a leading financier in the struggle against AIDS, tuberculosis and malaria, expects to have an additional $1.6 billion to fund projects in 2012-2014, its new chief said on Wednesday, a turnaround from a funding freeze last year.

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