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Marketplace Morning Report for Friday, July 13, 2012

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Episode Description 
It's second-quarter earnings day for JP Morgan Chase. Profit number aside, many are focused on how big a trading loss the bank suffered from the so-called 'whale' in its London office. Europe's economic crisis is hammering the euro's value, but bad news for Europe is great for American travelers. And this weekend, Santa Fe, New Mexico, hosts the world's largest folk art market. Artisans from Afghanistan to Peru come to sell their crafts -- but they can also get business training to take them to the next level.

Do Americans accumulate too much stuff?

There are some recent findings out that Americans have, well, just too much stuff -- and that a huge number of garages in America can't even fit cars because they are so filled with junk.
Posted In: consumer behavior, middle class, homes, mid-day extra

Facebook as vigilante: Scanning for predators

A Reuters report investigating Facebook scanning policies has found out the social network may be going out of its way to partner with law enforcement in nabbing child predators. But what does this mean for user privacy?
Posted In: Facebook, legal, privacy

JPMorgan sorts out 'London Whale' consequences

JPMorgan Chase CEO Jamie Dimon spoke this morning about the company's solid quarterly earnings, but all the attention is on the massive $4.4 billion trading loss -- twice what they first thought -- and how the company will sort out the implications.
Posted In: JPMorgan, Jamie Dimon, London Whale

PODCAST: JPMorgan's whale, a hotel's crocodile tail

It's second-quarter earnings day for JPMorgan Chase. Profit number aside, many are focused on how big a trading loss the bank suffered from the so-called 'whale' in its London office. Europe's economic crisis is hammering the euro's value, but bad news for Europe is great for American travelers. And this weekend, Santa Fe, New Mexico, hosts the world's largest folk art market. Artisans from Afghanistan to Peru come to sell their crafts -- but they can also get business training to take them to the next level.

Airbus, Boeing take big orders at Farnborough Air Show

The biggest event of the year for airline makers like Airbus and Boeing is wrapping up outside of London. And at this year's Farnborough Air Show, the companies have announced orders worth more than $50 billion. Sounds like a good thing for the industry -- and the economy.
Posted In: airline industry, Airbus, Boeing

JPMorgan discloses $4.4 billion in trading losses

JPMorgan Chase has just released its quarterly earnings report, and the big number to report is: $4.4 billion. That's the new estimate for the size of JPMorgan's loss from risky trading bets.
Posted In: JPMorgan, trading, losses, Earnings

Italian debt rating downgraded two levels

In Europe today, the focus has shifted from Spain to Italy, in the ongoing EU debt crisis. Moody's credit rating agency has downgraded Italian debt to just two levels above junk status.
Posted In: italy, spain, Moody's, Europe debt crisis

Pew poll: 2% of Greeks have good opinion of their economy

In a poll of a thousand Greeks, 2 percent said the country has a good national economic situation.
Posted In: pew, Greece

Wells Fargo to cut ties with independent brokers

After the Justice Department announced a $175 million settlement with Wells Fargo for alleged discrimination against thousands of African American and Hispanic borrowers, the bank looks to cease operations with independent mortgage brokers, whom they blame for the prejudicial lending.
Posted In: Wells Fargo, doj, mortgage, investigation

China reports slower GDP growth at 7.6%

Economic growth numbers from China did not fail to live up to the hype. China's GDP growth slowed in the latest quarter to to 7.6 percent -- the slowest in three years.
Posted In: China, Gross Domestic Product (GDP)

Artists seek new business beginning at folk art market

In Santa Fe, New Mexico this weekend, artists from all around the globe are gathering for the world's largest folk art market. For artisans, the market is a chance to make money, but also receive retail business training and mentorship.
Posted In: art, nonprofits, Santa Fe

A 'Whale watch' as JPMorgan reports earnings

The highlight of JPMorgan Chase’s second quarter earnings report will be an update on the trading loss by the so-called London Whale.
Posted In: JPMorgan, London Whale

Apocalypse now -- the marketing strategy

From natural disasters to economic crises to a supposed Mayan prophecy of the end of the world in 2012, doomsday has galvanized some marketers.
Posted In: apocalypse, doomsday

Why Hollywood recycles its superheroes

Geoff Boucher of the L.A. Times' Hero Complex blog explains why moviegoers see the same superheroes in the theater over and over again.
Posted In: Entertainment, movies, comics

Weak euro lures American travelers

The euro crisis has weakened the currency -- and strengthened Europe's appeal to American tourists.
Posted In: Travel, Europe, euro

Music from this show

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Black & Blue (Album Version)
Miike Snow
Above The Clouds
Little People
Moog Jam
Soundspecies
Disco China
Goblin
Get 'Er Done feat MF Doom [Explicit]
Jake One