JPMorgan Chase will have to pay more than $900 million in fines for the way it handled the London Whale trading scandal. Last year, the company revealed that its traders in London had lost $6 billion, and then concealed the losses from executives.
While large fines aren't unusual, it is unusual that federal regulators forced the bank to admit to wrongdoing. But this is exactly what happened. NPR's Sonari Glinton has more.
A close view of the packaging of Grand Theft Auto V at the midnight opening at the HMV music store in London on Tuesday. It made history with a record $800 million in sales on its first day. This version continues to generate controversy over its glorification of violence, drugs and its demeaning portraits of women.
Grand Theft Auto made video game history this week: The latest version of the game had a record $800 million in sales on its first day. As with past versions, the game is generating controversy over its glorification of violence and drugs and its demeaning portrayal of women.
But around 15 percent of its fans are women, who find much to like about the game, even if they do have some ambivalence about it.
There's big money in fantasy sports. Last year, alone, people paid $1.7 billion to play in fantasy leagues. With all that money sloshing around, a fantasy economy has sprung up, giving rise to real businesses. Here are four of them.
The Insurance Company
Henry Olszewski founded Fantasy Sports Insurance in 2008 — the year the financial system nearly collapsed. And, more importantly, the year New England Patriots quarterback Tom Brady suffered a serious hit to the knee.
The Republican-controlled House is set to vote Friday on a stopgap spending bill to keep the government open for business through the middle of December. And the White House has already said if it makes it to the president's desk, he'll veto it. That's because the bill also would defund the Affordable Care Act.
When Dan Miller was growing up, his family lived about a mile away from Wisconsin Rapids, Wisc. He had eight siblings and the family was poor. His father, Robert, supported them by working at Consolidated Papers Inc.