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.

SEC 'Probably' Drafting JPMorgan Subpoenas: Former Agent

U.S. Securities and Exchange Commission investigators are probably in the process of drafting subpoenas against JPMorgan Chase & Co. (NYSE: JPM), if they have not already filed them, regarding the bank's loss of $2 billion through proprietary trading, said ex-SEC New York Regional assistant director Joseph Dever.

Resume Embellishment? Yahoo?s CEO Not Alone

Rather than deal with business, directors of Yahoo (Nasdaq: YHOO), the No. 3 search engine, have been busy all week in the ?resume embellishment? scandal that forced one director to quit and put the CEO under a cloud.

Facebook IPO, 3 Months At SEC, Expected Soon

As a result, the San Francisco company?s IPO could raise the $5 billion as outlined in the latest amendment to its IPO filed with the U.S. Securities and Exchange Commission on April 23.

Wynn Resorts Gets Gov't OK For Macau Cotai Casino

Wynn Resorts, Limited (Nasdaq: WYNN) received approval to begin breaking ground at its 51-acre casino sight on Macau's Cotai strip, an approval that has been in limbo since March, the company said Wednesday.

Chesapeake To Replace McClendon As Chairman

Chesapeake Energy Corp will find an independent, non-executive chairman to replace Aubrey McClendon, who will retain his position as chief executive officer, the natural gas producer said on Tuesday.

Occupy Wall Street Faces Day Of Truth With May Day Protests

Tuesday is May Day, the international celebration of the workers' movement that for most countries means a day off with most businesses closed. In the United States, where Labor Day is in September, May 1 is a workday like any other. But it may well be a historic date, one way or the other, for the loosely-organized movement against social and economic inequality known as Occupy Wall Street.

SEC Launches Probe Of Chesapeake Energy-CEO Arrangement

The Securities and Exchange Commission launched a probe on Thursday of a program by Chesapeake Energy Corporation (NYSE: CHK) that let its founder and CEO get an ownership interest in any well drilled by the second-largest U.S. natural gas producer.

SEC Probes Movie Studios Over Dealings In China

U.S. regulators are investigating major U.S. movie studios' dealings with China as the entertainment companies try to get a greater foothold in one of the fastest-growing movie markets in the world.