JPMORGAN CHASE has agreed to pay a $100 million penalty and admitted its traders acted "recklessly" in a series of London trades that ultimately cost the bank $6 billion. The settlement announced Wednesday by the Commodity Futures Trading Commission comes less than a month after JPMorgan agreed to pay $920 million and admit fault in a deal with the Securities and Exchange Commission and other U.S. and British regulators. The stunning trading losses that surfaced in April 2012 shook the financial world and damaged JPMorgan's reputation.
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Teens using facebook are now able to post items that can be seen by the public, making it easier to turn a teenager's post into an ad to be shown widely. The change reverses a long-standing policy that users ages 13 to 17 could not share comments and photos beyond friends of friends. Facebook said it made the change to let socially active teens reach a wider audience the way they can on blogs and rival services like Twitter.
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MICROSOFT is releasing its long-awaited Windows 8.1 upgrade as a free download starting today, addressing some of the gripes people have had with Windows 8, the dramatically different operating system that attempts to bridge the divide between tablets and PCs. The update adds some new finger- and gesture-friendly shortcuts for touch-based apps, while restoring some respect for the desktop mode that a billion PC users have become accustomed to.
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THIRD-QUARTER PROFITfor Mattel, a 16 percent gain from a year earlier and a bright sign for the largest U.S. toy company ahead of the all-important holiday season
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THE BOTTOM LINE: IBM's third-quarter net income rose 6 percent to $4.04 billion, as better profitability offset a 4 percent drop in revenue to $23.7 billion ...Advance Auto Parts to buy rival General Parts International for $2.04 billion in cash