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Business
6:11 am
Fri May 11, 2012

Freddie Mac Names Retired JPMorgan Official CEO

Mortgage broker Freddie Mac named Donald Layton as its new chief executive officer. Layton worked for JPMorgan Chase for nearly 30 years before retiring in 2004.

Around the Nation
6:03 am
Fri May 11, 2012

Alaska Man To Make Uninhabited Island His Home

Originally published on Fri May 11, 2012 6:10 am

Charles Baird will be alone on the island for one year. He'll able to send short text messages, but won't be receiving any. By freeing himself from all media, he expects to have enough time to make a documentary about himself.

Around the Nation
5:58 am
Fri May 11, 2012

18-Month-Old Girl Turns Up On No-Fly List

Originally published on Fri May 11, 2012 6:10 am

JetBlue Airways apologized after removing a passenger from her flight because she was on a no-fly list. The passenger looks innocent enough — maybe because she's 18 months old. Her mother told WPBF-TV in Florida that the idea her daughter is a threat was "absurd" and "made no sense."

Business
4:29 am
Fri May 11, 2012

JPMorgan Chase Loses $2 Billion In Risky Trades

Originally published on Fri May 11, 2012 6:10 am

Transcript

STEVE INSKEEP, HOST:

It's MORNING EDITION, from NPR News. I'm Steve Inskeep.

DAVID GREENE, HOST:

And I'm David Greene. Good morning.

JPMorgan Chase has acknowledged losing at least $2 billion over the last six weeks in an investment strategy that went awry. The losses are a big embarrassment to a bank that's usually seen as one of the best-managed on Wall Street. And the incident is already prompting new calls for tighter restrictions on bank trading.

NPR's Jim Zarroli reports.

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Business
4:14 am
Fri May 11, 2012

Business News

Originally published on Fri May 11, 2012 6:17 am

Transcript

STEVE INSKEEP, HOST:

NPR's business news starts with Sony hitting a three-decade low.

(SOUNDBITE OF MUSIC)

INSKEEP: Sony shares fell to their lowest level since 1980 on Japan's Nikkei stock exchange today. That drop follows yesterday's report that the company suffered a net loss of $5.7 billion for the last fiscal year. The once dominant tech company has fallen behind other industry giants like Samsung and Apple, and has seen especially heavy losses in its TV division. Transcript provided by NPR, Copyright NPR.

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