JPM reveals a significant loss in its CIO unit. In a conference call on Thursday night, CEO Jamie Dimon put mark-to-market losses at $2bn for the unit. Dimon has thus gone from calling the CIO's trades a "a complete tempest in a teapot" to referring to the losses "plays right into the hands of a whole bunch of pundits out there." Read more about the disclosure and the call here. Our Whale Watching series here and original post here. You cannot be Syriza! As a second round of elections in Greece becomes increasingly likely, the momentum is with the anti-bailout parties who threaten to reject the EU-IMF programme. Meanwhile, German politicians are issuing ever sterner warnings of the consequences of abandoning the reform process. Masa's post asks - are both sides bluffing? Breaking down five million US job losses. Construction and manufacturing account for most of the lingering declines. Cardiff's post takes a look at how this is related to the housing bubble of the late 90s through the middle of the last decade. The US labour market and the middling middle. It's a rare combination, of course, but these are the characteristics commonly found among people who have found jobs in the difficult US labour market since 2010. Masa's post looks at ten unexpected trends. Moody's warns global banks on capital. The ratings agency has criticised banks" tendency to try to avoid new capital requirement rules and take on debt will continue to put pressure on their creditworthiness. It placed 17 banks on review for a downgrade earlier this year, due to "vulnerabilities" in their capital markets businesses, the FT reports. Greek parties scramble to avert new election. The far left is expected to triumph if Greece goes to the polls again, yet the centrist parties are proving incapable of forming a coalition government, Reuters reports. China inflation eases in April. The rate slowed to 3.4 per cent from 3.6 per cent in March. The figure compares with the government's target of 4 per cent inflation for the year. The April rate is far lower than last year's peak of 6.5 per cent in July, reports the FT. India's industrial output falls. Production fell 3.5 per cent year on year in March, compared with a 4.1 per cent increase in February, driven by a sharp fall in manufacturing and capital goods, which slumped 21.2 per cent. Electrical machinery manufacturing dropped 43 per cent, while apparel production fell 55 per cent. It's the first contraction in five months, the FT reports. Facebook's purchase of Instagram may be delayed. A competition probe into the $1bn acquisition of the photo-sharing service is likely to prevent the deal closing before the second quarter, the target set by Facebook in its initial public offering documents. The investigation by The Federal Trade Commission could also further slow Facebook's mobile strategy, reports the FT. Risk appetite is once again in retreat. JPMorgan's surprise $2bn trading loss joins global growth worries and eurozone angst in an unpalatable mix for wary investors. The FTSE Eurofirst 300 was down 0.6 per cent on Friday morning, while US futures pointed to a 0.4 per cent retreat for the S&P 500, the FT reports. This entry was posted by Masa Serdarevic on Friday, May 11th, 2012 at 10:46 and is filed under Uncategorised.