Business and Finance news

JPMorgan Chase is expected to accept the resignation of one of the highest-ranking women on Wall Street after the bank lost $2 billion in a trading blunder, a person familiar with the matter said Sunday.
The bank will accept the resignation of Ina Drew, its chief investment officer, the person told The Associated Press, speaking on […]

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Less than a year after Arch Coal Inc. paid $3.5 billion for rival International Coal Group Inc., the Creve Coeur-based company is shopping some of its mines, Bloomberg News reported today.
The report, citing unnamed sources, said Arch Coal could raise $600 million or more by selling several mines that produce thermal coal, a fuel burned […]

Here’s a sign of just how far BlackBerry’s star has fallen: The maker of one popular app is pulling the plug, citing a "steady exodus" of users gravitating instead to Android and the iPhone.
Visual voicemail company YouMail is ending development on its BlackBerry app. YouMail CEO Alex Quilici said in a blog post […]

Asian stock markets sank Monday as Europe’s debt crisis threatened to intensify again while growth in China slowed.
Japan’s Nikkei slid 1.4 percent to 9,505.27, bruised by a higher yen and an announcement Thursday by electronics and video gaming giant Sony Corp. that it would slash 10,000 jobs.
South Korea’s Kospi was 0.9 percent lower at 1,991.56 […]

Egypt’s Islamist-dominated parliament has overwhelmingly voted in favor of ensuring that its own lawmakers will comprise the bulk of a panel that will write the country’s constitution.
Lawmakers Saturday voted on the criteria for the makeup of a 100-member panel drafting the document. The Islamists, who dominate the parliament, want a formidable presence on the panel […]

Claims for jobless benefits dropped last week to match a four-year low, and U.S. consumer confidence rose to the highest since 2008, signaling an improving labor market may boost household spending.
Applications for unemployment insurance payments fell by 14,000 to 351,000 in the period ended March 10, Labor Department figures showed today. The Bloomberg Consumer […]

Premier Wen Jiabao warned Wednesday that ruinous turmoil that engulfed China in the past could re-emerge unless the country tackles political reforms, and he rebuked a populist fellow leader over a scandal that brought infighting among officials into public view.
In a three-hour news conference, his sole such event of the year, Wen renewed a call […]

TORONTO

Fourteeen years after NBC News featured MidAmerica Airport in a “Fleecing of America” report, officials in St. Clair County are still trying to make their aviation investment pay off.
And for the first time, the Mascoutah airport appears to have interest from a private group that’s willing to make a big investment without further public funding.
Skeptics […]

In his first 100 days as European Central Bank President, Mario Draghi has taken unprecedented action to tackle the sovereign debt crisis. Greece may push him even further into unknown territory.
Draghi will today face questions on the ECB