Finance & Economics | WPN World People News

JPMorgan Chase's chief investment officer Ina Drew has resigned after the banking corporation revealed losses of $2billion due to a trade involving derivatives that was intended to lower, or hedge, the bank's risk but which went terribly wrong.

World stocks fell sharply Monday as traders voiced new concerns about political uncertainty in Greece. Analysts say failure by the country's politicians to form a coalition government could lead to new elections.

The European Commission has just completed its spring economic forecast, which has suggested the eurozone should make a slow recovery from recession later this year.

The California governor, Jerry Brown, has announced the state's projected budget deficit has been blown out.

Panasonic Japan has announced a record US$9.67 billion annual loss.

US President Barack Obama Saturday pressed Congress to act on a "To-Do List" to create jobs and help restore economic security for the middle class.

Dip in energy and intermediate goods costs helped to drive down U.S. wholesale prices lower in April, indicating easing of inflationary pressures.