Business
4:14 pm
Fri May 11, 2012

Big Losing Bet Tarnishes Wall Street Titan JPMorgan

JPMorgan Chase Chief Executive Officer Jamie Dimon cited "many errors, sloppiness and bad judgment" in announcing a $2 billion loss due to a hedging strategy.
Mario Tama Getty Images

Originally published on Fri May 11, 2012 5:52 pm

JPMorgan Chase is licking its wounds after announcing that it lost at least $2 billion in a hedging strategy that went terribly wrong. The announcement late Thursday sent the bank's shares tumbling more than 9 percent on Friday.

Meanwhile, regulators on both sides of the Atlantic have begun looking into what happened. And there were calls Friday for tighter restrictions on the kind of trades the bank engaged in.

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It's All Politics
3:42 pm
Fri May 11, 2012

On Citizenship Question, Bachmann Not So Neutral

Minnesota Republican Rep. Michele Bachmann and her husband, Marcus, recite the Pledge of Allegiance before announcing her candidacy for president last June in Waterloo, Iowa.
Steve Pope Getty Images

Originally published on Fri May 11, 2012 4:24 pm

Under assault from conservative blogs that are normally friendly to her — and facing some skepticism in Minnesota, where she's up for re-election — Rep. Michele Bachmann wants to give back her just-revealed Swiss citizenship.

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The Two-Way
3:36 pm
Fri May 11, 2012

Carroll Shelby, Race Driver And Designer Of The Shelby Cobra, Dies

Actor Steve McQueen, left, and racer Carroll Shelby stand by McQueen's Ford-Cobra roadster, June 28, 1963, in Los Angeles.
Dick Stroebel AP

Carroll Shelby was a race car driver; he was a racing team owner, a chili entrepreneur. He survived a liver transplant and a heart transplant. But perhaps the thing that most people will remember him for is his automotive creations, especially the Shelby Cobra.

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Europe
3:15 pm
Fri May 11, 2012

Who Needs Marriage? Not France's New President

French President-elect Francois Hollande waves to supporters with his companion, Valerie Trierweiler, as he celebrates his election victory in Bastille Square in Paris, May 6. Hollande and Trierweiler will be the first unmarried couple to move into the French presidential palace.
Francois Mori AP

Originally published on Sat May 12, 2012 1:42 am

The French are known for being more tolerant than Americans about their politicians' private lives. One former French president even fathered a child with a mistress while in office.

But every French leader in history has been married — until now.

Next week, after Socialist Francois Hollande is sworn into office, he and his longtime companion, journalist Valerie Trierweiler, will become the first unmarried couple to move into the Elysee presidential palace.

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The Two-Way
2:47 pm
Fri May 11, 2012

In Greece, Third Bid For Coalition Government Fails

Greece's radical leftist party Syriza chief Alexis Tsipras (L) shakes hands with Socialists leader Evangelos Venizelos before their meeting at the Greek parliament in Athens on Friday. Venizelos admitted that he had failed in a last-ditch bid to form a government after Syriza key leftist party ruled out joining a pro-austerity coalition.
Louisa Gouliamaki AFP/Getty Images

Originally published on Fri May 11, 2012 3:12 pm

Evangelos Venizelos was the third politician mandated by the Greek president to form a coalition government.

Today, reports the BBC, after meeting with the leaders of different parties, Venizelos emerged empty-handed.

"I am going to inform the president of the republic tomorrow and I hope that, during the meeting with Carolos Papoulias, each party will assume its responsibilities," Venizelos told the BBC.

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