And the biggest bank in the U.S., JPMorgan Chase, says it has lost $4.4 billion from its failed hedging strategy involving a secretive trader. That's more than twice the bank's earlier estimate. The company released its second-quarter earnings report this morning, and NPR's Jim Zarroli is with us now to talk about them. Jim, what is the company telling investors this morning about that money?
Some future news now. The Olympics begin two weeks from today in London, and we can already tell you the likely big winners. China will take the most gold medals, followed by the U.S. and host country, Great Britain. Team USA will win the most overall medals, followed by China and Russia.
And today's last word in business comes from the Central Asian country of Uzbekistan, which by the way, won six medals in the last Olympics. But today's last word is about another kind of competition, this one between social networking sites. And the word is: YouFace. That's the name of a new social networking site that aims to lure local Internet users away from Facebook, and, quote, "boost patriotism among young people in Uzbekistan."
Freddie Wood stands at the counter of the Wood & Swink general store in Evinston, Fla.
The Wood & Swink general store sits near the crossroads of two county roads. Wilma Sue Wood, who was Evinston's postmaster for 32 years, says the town's 150 or so residents visit to hear news: "Who's had a baby; who's died."
The store also sells produce from the Woods' farm.
Evinston's post office is on a U.S. Postal Service list of rural facilities facing cuts in their operating hours.
<p>"The post office and the store, I just love it," Wood says. He spends most of his afternoons sitting in a rocking chair in the middle of the store.</p><p></p>
Freddie Wood stands at the counter of the Wood & Swink general store in Evinston, Fla. The store, founded in the late 1800s, houses the oldest post office in Florida.
Freddie Wood and Wilma Sue Wood, the former postmaster in Evinston, Fla. Wilma Sue says people visit the post office to learn "who's had a baby; who's died."
This month, the U.S. Postal Service begins cutting back hours and services at rural post offices across the country. One store facing changes sits inside the Wood & Swink general store in the northern Florida town of Evinston. The store has been in Freddie Wood's family for more than 100 years. In that time, it's gone through only small changes.
Some of the most interesting discoveries in archaeology come from sifting through ancient garbage dumps. Scientists working in Oregon have found one that has yielded what they say are the oldest human remains in the Americas and a puzzle about the earliest American tools.
Early Americans used Oregon's Paisley Caves for, among other things, a toilet. Little did they know that scientists would be picking through what they left behind.
Half of San Bernardino County's 300,000 mortgages are underwater. In an attempt to ease the mortgage crisis, the Southern California county is considering taking control of some of those properties by eminent domain.
County and city officials in San Bernardino, Calif., are considering a controversial plan: using the power of eminent domain to take over "underwater" mortgages, where the value of the home is worth less than the original loan. Taking on those properties, officials say, would allow the homeowners to refinance those troubled loans.
Europe is struggling, thanks to a relentless debt crisis. Compounding its problems: It is not one country, but 17.
Many observers agree that to solve their problems, those countries have to start looking a lot more like one country. And there is a force in Europe trying to make that happen: the European Central Bank. The weapon it has that everyone else lacks? Money.
New questions about Mitt Romney's overseas investments have dogged the GOP presidential contender all week. Many arose from a report in the latest issue of Vanity Fair. It describes how the day before Romney was sworn in as governor of Massachusetts, he put a corporation he'd set up in Bermuda in a blind trust held by his wife, Ann. Romney insists he did nothing wrong.
We told readers not to "get excited" in our headline about PBS' History Detectives potentially misidentifying a guitar from Bob Dylan's first electric performance. Our commenters took our advice, but they certainly showed some ire that the guitar, famous or not, would not have been returned to the artist in the first place.
Arizona businessman Wil Cardon attends a luncheon in Scottsdale. Cardon faces six-term Rep. Jeff Flake in the Republican primary race for U.S. Senate.
Credit Andrea Hsu / NPR
Wes Harris, founder of the Original North Phoenix Tea Party, has been a registered Democrat, independent and now Republican. He says that while Tea Party activism had dropped off over the past two years, issues like health care and immigration are starting to draw people back.
Credit Andrea Hsu / NPR
A Tea Party activist rallies in support of Arizona's tough immigration law in Phoenix in April.
Maricopa County, Ariz., where 3 out of 5 Republicans in the state live, has become a hotbed of Tea Party activism.
That's where the head of the Original North Phoenix Tea Party lives. His name is Wesley Harris, and he used to manufacture precision rifle barrels. These days, his son runs the business, while Harris spends most of his time as a full-time Tea Party activist.
Al Arabiya is calling it another "massacre." Quoting the opposition, they report that "scores of dead bodies were scattered in houses and in farms in al-Tremsa, while more than 150 dead bodies have been piled up in the al-Tremsa mosque."
Jewish settlers in the West Bank throw stones during clashes with Palestinians near the city of Nablus on May 19. A new report says violence by settlers directed at West Bank Palestinians is up sharply over the past three years.
Farming is the mainstay of the Palestinian communities around the West Bank village of Yanoun. Animals graze the land, and Palestinians make their living by harvesting citrus fruits and olives.
Last Saturday, Palestinians say, a group of Jewish settlers killed some of the sheep belonging to the Bani Jabr family. Palestinians say its part of a regular pattern of harassment in the area by settlers.
"A fiasco with a great first half" is what I called Kenneth Lonergan's Margaret when it was dumped in one New York theater last fall, five years after it was shot, amid a legal battle between Lonergan and a producer.
Walk into any tech company or university math department, and you'll likely see a gender disparity: Fewer women than men seem to go into fields involving science, engineering, technology and mathematics.
This is TALK OF THE NATION. I'm Neal Conan in Washington. Shocking and callous disregard for victims, repeatedly concealed critical facts, failure to protect the children created a dangerous situation for unsuspecting boys lured and victimized repeatedly.
This product image released by Ralph Lauren shows U.S. Olympic athletes, from left, swimmer Ryan Lochte, decathlete Bryan Clay, rower Giuseppe Lanzone and soccer player Heather Mitts modeling the the official Team USA Opening Ceremony Parade Uniform.
A worker dismantles a mattress at a recycling facility in Oakland, Calif. The material will be used to make carpet products and proceeds will help support the St. Vincent de Paul Society of Lane County, a nonprofit that helps low-income families in Eugene, Ore.
Credit Pam Fessler / NPR
Terry McDonald, executive director of the St. Vincent de Paul Society of Lane County, is known to some as "the junkyard king" because he spends so much time trying to turn waste into cash.
The bad economy has hurt many nonprofits around the country, even as demands for their services have grown. That's certainly the case in Reading, Pa., which has been labeled the poorest city in America, with a poverty rate of more than 41 percent.
Now, one local nonprofit, Opportunity House, hopes to salvage some of its services by salvaging junk.
Ever since the peak of the financial crisis, we've been treated to the occasional spectacle that leaves the market and its hangers-on in a tizzy: unveiling the terms of new bailout programs, revealing bank stress-test results, and, not long ago, JPMorgan Chase's chief executive
Virginia Senate Republican Leader Thomas Norment, of James City, (left), and State Sen. Stephen Newman, of Lynchburg, listen to a Feb. debate on a bill requiring an ultrasound before an abortion. The bill was later amended to remove a requirement for transvaginal ultrasound.
President Obama may have disappointed the NAACP by appearing only via brief video message Thursday at the civil rights group's annual gathering — especially after Mitt Romney had personally taken the stage a day earlier.
But sending in Vice President Biden to stir things up, just 24 hours after Romney was booed while delivering a conservative message meant to resonate beyond the walls of the Houston convention center, seemed to work out just fine for Obama.
Thomas Monaghan (left), founder and chairman of Domino's Pizza, signs an agreement to sell a "significant portion" of his stake in the company to Mitt Romney's Bain Capital, in 1998. Romney, then Bain's CEO, maintains that he left the firm the following year.
Nike has announced that it has removed the name of former Penn State football coach Joe Paterno from its child care center in Oregon. Mark Parker, Nike's president and CEO, said he was "deeply saddened" by the results of the investigation.
Wells Fargo Bank agreed to pay at least $175 million Thursday to resolve allegations it discriminated against black and Latino home buyers, in what the Justice Department called the second largest settlement over fair lending violations.