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The Securities and Exchange Commission has launched an investigation of JPMorgan Chase's operations in China, reportedly looking into whether the investment bank hired the children of high-ranking Chinese government officials in an effort to secure business.
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Five years after the start of the financial crisis, the U.S. banking industry continues to earn strong profits. On Tuesday, Goldman Sachs became the latest big bank to report better than expected earnings. But rising interest rates mean a riskier environment for banks.
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If you think that government and the financial industry are a bit too friendly in the U.S., try England. London's version of Wall Street is called the City. And in the City, the line between government and corporate interests gets even blurrier. Critics say it's time for change.
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Jeffrey Olson faced 13 years in jail for protesting against banks by writing on a sidewalk with chalk. But a San Diego jury of two men and 10 women found him not guilty of criminal vandalism.
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In San Diego, 40-year-old Jeffrey Olson is on trial for writing messages such as "No Thanks, Big Banks," on sidewalks. He was protesting the financial mess some banks got into and the federal bailout that followed. Should be be prosecuted for expressing himself in erasable ways that weren't obscene?
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Ecuador says the U.S. refuses to extradite two bankers who allegedly embezzled millions from a bailout. Officials keep referring to their request in relation to the Edward Snowden case.
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Authorities said Monsignor Nunzio Scarano was plotting to help friends smuggle the money by jet from Switzerland to Italy. Scarano is already under investigation for money laundering.
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Many people know how to buy things in cyberspace. But what about doing business in outer space? That's the question PayPal wants to answer. Citing the looming era of space tourism, the company is starting the Galactic project with the SETI Institute, to "make universal space payments a reality."
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The lending rate between Chinese banks spiked dramatically on Thursday, creating a credit crunch. Renee Montagne talks to NPR Shanghai correspondent Frank Langfitt about the turbulence in China's banking system, and how authorities in Beijing are responding.
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The Federal Reserve will continue its program of purchasing $85 billion in securities and will leave the target interest rate for federal funds untouched to support the U.S. economy, the U.S. central bank said in a policy update issued Wednesday afternoon.