Business & Technology

Transcript

RENEE MONTAGNE, HOST:

The largest bank in the U.S., JPMorgan Chase, this morning released its second quarter results. It's net income was $5 billion, but it turns out that loses in a failed hedging strategy involving a secretive trader were much higher than what the bank originally said the loss would be. In fact, JPMorgan lost $4.4 billion last quarter on those risky trades.

As NPR's Yuki Noguchi reports, that's not the full extent of the firm's damage.

Yahoo said today that hackers had stolen and posted a file that contained 400,000 usernames and passwords.

The New York Times reports that those credentials were used not only for Yahoo! services but to services such as Gmail, AOL, Hotmail, Comcast, MSN, SBC Global, Verizon, Bellsouth and Live.com.

The Times' Bits blog reports:

Mobile apps are aggressively placing unwanted ads on phones. Lookout, a mobile security firm in San Francisco, tested mobile apps and found some disturbing practices. Those include transmitting consumer phone numbers and email addresses and transmitting to third parties and placing ads on the mobile phone's desktop.