The grim numbers vary and independent observers haven't yet been able to get to the scene. But there's word from Syria of what may be the single worst day of bloodshed so far in what's become a long line of such horrible events since protests against the regime of President Bashar Assad began in March 2011:
Though it suffered an estimated $4.4 billion second-quarter loss related to its bungled trading in some very risky types of investments, JPMorgan Chase said this morning that it still did well enough in its other businesses that it had net income of $5 billion in those three months.
This Friday the 13th, fans of horror films and hobbits, science fiction and fantasy are descending upon the San Diego Convention Center. They're gathering for the annual explosion of pop culture fandom that is Comic-Con. One of the biggest phenomena in pop culture at the moment will be making an appearance, and it's not a man of steel or a boy slinging webs.
It's a 40-something woman who writes... wait for it... steamy romance.
NPR's business news starts with a warning about LIBOR.
It came years ago. We now know that Treasury Secretary Tim Geithner pointed out problems with the way that London's key interest rates were set. He did this in 2008, in the midst of the financial crisis at the time he was head of the New York Federal Reserve.
And the biggest bank in the U.S., JPMorgan Chase, says it has lost $4.4 billion from its failed hedging strategy involving a secretive trader. That's more than twice the bank's earlier estimate. The company released its second-quarter earnings report this morning, and NPR's Jim Zarroli is with us now to talk about them. Jim, what is the company telling investors this morning about that money?
Some future news now. The Olympics begin two weeks from today in London, and we can already tell you the likely big winners. China will take the most gold medals, followed by the U.S. and host country, Great Britain. Team USA will win the most overall medals, followed by China and Russia.
And today's last word in business comes from the Central Asian country of Uzbekistan, which by the way, won six medals in the last Olympics. But today's last word is about another kind of competition, this one between social networking sites. And the word is: YouFace. That's the name of a new social networking site that aims to lure local Internet users away from Facebook, and, quote, "boost patriotism among young people in Uzbekistan."
This is MORNING EDITION from NPR News. I'm Renée Montagne.
STEVE INSKEEP, HOST:
And I'm Steve Inskeep. Good morning. China's economic growth has slowed down to a three-year low. That's according to new figures released today. The numbers matter to us because of the way the world economy is so interconnected. Americans import a lot from China, sure, but have also been working to boost exports to other nations, including China.
NPR's Louisa Lim joins us from Beijing to make sense of the latest news. Hi, Louisa.