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The Two-Way
10:03 am
Fri May 11, 2012

Obama's Fundraiser At George Clooney's Home Nets Record $15 Million

A presidential SUV is seen outside of the house of actor George Clooney on Thursday in Los Angeles.
Mandel Ngan AFP/Getty Images

$15 million.

That's how much President Obama campaign will receive from a fund-raising event last night at George Clooney's home. The New York Times reports the A-list, Hollywood crowd paid $40,000 a person, helping to set "a record for a presidential election fund-raiser."

The Times adds:

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Planet Money
9:59 am
Fri May 11, 2012

JP Morgan's $2 Billion Loss, Explained

Chris McGrath Getty Images

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

What just happened?

JPMorgan Chase, the biggest bank in America, announced that it lost $2 billion on a massive trade placed out of its London office.

What was the trade?

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Shots - Health Blog
9:13 am
Fri May 11, 2012

FDA Gets Advice To Approve First Pill To Cut HIV Infections

Gilead Sciences' Truvada is a step closer to being approved as a way to prevent HIV infection.
Paul Sakuma AP

Originally published on Fri May 11, 2012 10:31 am

In what could mark a watershed in the fight against HIV/AIDS, a panel of experts recommended that the Food and Drug Administration give a green light to a pill that can cut the risk of infections.

The daily pill, Truvada, made by Gilead Sciences, combines two medicines that inhibit the reproduction of HIV. It's already approved as a treatment for HIV, but its use could soon expand to include protection of uninfected people.

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The Two-Way
8:18 am
Fri May 11, 2012

JPMorgan 'Rogue Trader' Losses Send Chills Through Markets

Originally published on Fri May 11, 2012 10:46 am

"It was a bad strategy. It was badly executed."

The words of JPMorgan Chase's CEO, Jamie Dimon, as he admitted late yesterday that the investment bank — or, more precisely, a single "rogue trader" working for the bank, had lost some $2 billion in the last six weeks in risky hedge-fund trades.

The news has sent chills through the markets. Shares of JPMorgan Chase, the largest U.S. bank, lost 7 percent in after-hours trading and British bank Barclays lost 2.9 percent, while more than 2 percent was shaved from Royal Bank of Scotland.

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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.

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