*The Mid-Day Update is a five-day-a-week podcast from the Marketplace Morning Report co-hosted by Bill Radke and Steve Chiotakis that wraps up the morning news in a fun little package. Listen here every day at 10 a.m. PT or download it to your iPod by subscribing to the Morning Report Podcast:

From the desk of Bill Radke:

JP Morgan Chase made $4.8 billion last quarter. You can stop worrying about them.

New unemployment benefit claims fall by 29,000. Great news, huh? Oh, that's right -- unemployment benefits ran out. Nothing to claim.

China's economy only grew by 10 percent last quarter. Slackers.

FDA advisory panel: GlaxoSmithKline's diabetes drug Avandia should stay on the market, despite the heart attack risk. It's been around for 10 years and that counts for a lot.

BP's cap fails again. Is it time to start feeling sorry for them?

A Beatles tribute band sues another Beatles tribute band for sounding too much like the first Beatles tribute band. This makes my brain itch.