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From NPR news in Washington, I’m Lakshmi Singh.
The head of JP Morgan Chases is doing a lot of apologizing today, saying he and other bank executives have ‘a lot of egg on our face’. CEO
Jamie Dimon is under scrutiny by federal regulators and customers after he announced that the bank which managed to weather the 2008 financial crisis better than its peers had suffered a two billion dollar trading loss. And that figure could get bigger. In a conference call, Dimon said it was inexcusable.
"These were great mistakes, they were self-inflicted. We are accountable. And what happened violates our old standards and principles by how we want to operate the company. This is not how we want to run a business.”
The loss was the result of a failed hedging strategy that’s leading many critics to ask if Morgan Chases learnt anything at all from the banking practices that cause the economy to run aground(搁浅) just few years ago.
Well, Greece is stuck in a political impasse. The Socialists are the third party to announce they’ve been unable to build a coalition government. Without a deal new elections have to be held next month. Sunday’s vote failed to give any one party enough parliamentary seats to govern alone. It was widely described as a reflection of the people’s anger over the country’s decision to impose a strict cost cutting program to receive a massive bailout from its European and IMF lenders.
Syrian state media reporting that the Syrian military has foiled(挫败) a suicide bomb plot in the Northern city of Aleppo. Forces say they have killed the bomber. The report came a day after two suicide bombers attack the Syrian capital Damascus and killed at least 55 people.
Consumers’ confidence is at its highest level in more than four years in the US. NPR’s Asmaholid reports Thomson Reuters University of Michigan preliminary index for May unexpected declined to 77.8%.
The survey suggests consumers are more optimistic about the economy. Mark Vitner is a senior economist at Wells Fargo. He links that feeling to job growth and falling fuel costs.
"I think the dropping gasoline prices is really an unexpectable blessing for many consumers and really take it to heart.”
Perhaps because of that, extra income consumers are pocketing from cheaper gas prices. The survey shows they’re more willing to buy big ticket items, such as cars and computers. Vitner says that’s a good sign.
"In economy recoveries, that’s generally where the economy gets a lot its lift promises that the consumers begin to make up for purchases that were postponed, when times were less certain”
The data also suggests consumers expect inflation to slow down. Asmaholid, NPR news Washington.
US mixed with the Dow off 16 points at 12,839 in trading of two billion shares. Nasdaq is up 10 points at 2,943. And the S&P 500 down slightly at 1,357.
This is NPR news.
The trial of confessed Norwegian killer Anders Behring Breivik was interrupted today when one of his victims’ relatives threw a shoe at him. Teri Schultz reports the act got mixed reactions inside the court room.
Hayder Mustafa Qasim traveled from Baghdad to Oslo to be present at the trial of man accused of shooting his brother and 68 other people last summer in an anti-immigrant rampage. While autopsy(验尸) details were being read out in court, Qasim suddenly took off his shoe and threw it at Breivik, screaming ”you killer, go to hell.” The shoe hit one of the defense attorney and Qasim was removed from court and taken to the hospital to undergo an evaluation. He told Norway's Daily Aftenposten that Breivik ruined his families’ life by killing his brother. And that he is not sorry for his actions which reportedly made some of the spectators in the room clap and cheer and made others cry. For NPR news, I’m Teri Schultz.
Federal agents have searched the Connecticut home of reputed mobster(盗匪) who authorities believe has information about an unsolved art heist(强夺) As Tuck, member station WNPR reports authorities found something but it wasn’t art work.
For over twenty years authorities have been searching for paintings worth half a billion dollars including some by Rembrandt and Vermeer’s. They were stole from Boston's Isabella Stewart Gardner Museum in 1990. The FBI searched 75 year old Robert Gentile's Manchester, Connecticut property. They believe he has information about the heist. But what they did remove were boxes of evidences and two weapons from his property. Gentile’s lawyer says they won’t find any paintings. Last month, Gentile pled not guilty to federal weapons and prescription drug charges. For NPR news, I’m Tuck, in Hartford.
And I’m Lakshmi Singh, NPR news, in Washington.