Business News: JP Morgan To Pay $100M London Whale Fine

Business News: JP Morgan To Pay $100M London Whale Fine

(CBS) - In Business News, JP Morgan is expected to pay another $100 million dollar fine, for the trading incident now known as the London Whale episode. 

The company's total penalties top $1 billion dollars, and that's on top of the trading losses Morgan incurred, which is an estimated $6.2 billion dollars.

After an investigation into market manipulation, JP Morgan admits a group of London traders acted recklessly. 

(CBS) - You might notice a tighter squeeze next time you fly.

Airlines like Southwest and United are adding skinnier seats to their planes so they can squeeze out more profit, which adds about six more passengers a flight. 


(CBS) - A slam dunk for Dallas Mavericks owner Mark Cuban in a different kind of court.

A Dallas federal jury cleared the billionaire of insider trading.

The issue was whether Cuban sold his stake in an Internet company after learning confidential information.

Cuban says he was targeted by the SEC because of his fame. 


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