Economic News

5/10/2012

JPMorgan Chase acknowledges $2B trading loss

Posted 4:38 PM 5/10/2012 by CBS Money Watch

JPMorgan Chase & Co. (JPM), the largest bank in the United States, said Thursday that it lost $2 billion in a trading portfolio designed to hedge against risks the company takes with its own money.

The company's stock plunged more than 5 percent in late electronic trading after the loss (More)

Gas prices: Down and headed lower

Oil rig workers make nearly $100,000 a year

5/9/2012

State must pay for birth control for minors in Healthy MT Kids program

Posted 9:46 PM 5/9/2012 by Marnee Banks (marnee@kxlh.com)

A District Court Judge in Helena says the state should pay for birth control for minors enrolled in the state's low-income health plan.

Judge Jim Reynolds says Montana's law prohibiting the state from paying for contraceptives under the Healthy Montana Kids plan is unconstitutional.

(More)...

5/6/2012

Survey: U.S. gas prices drop 7 cents

Posted 4:08 PM 5/6/2012 by CNN

The average price for a gallon of regular U.S. gasoline slipped almost 7 cents over the past two weeks, chasing a drop in crude oil prices, according to a nationwide survey published Sunday.

A gallon of regular now costs $3.85 on average, the Lundberg Survey found. In the past month, average (More)

5/4/2012

Hiring slows sharply with just 115K jobs added

Posted 7:25 AM 5/4/2012 by CNN

U.S. employers pulled back on hiring in April for the second straight month, a sobering reminder that the economy remains weak. The unemployment rate fell to 8.1 percent, but only because more people gave up looking for work.

The Labor Department said Friday that the economy added just 115,000 (More)