j.p. morgan is not particularly expensive. more important point, even though implied volume tilts, the price of commodities here in the market and prices are low. one thing we were talking about, the puts have remained well bid. some of the downside puts there are people buying that downside protection. that's why they set up with favorable risk reward. >> what is the chart. >> it broke out with a gap. had to be news related. filled that gap, fell back to the pivot foin and was gone again. has the cover of course of other big banks agenting well. regional bank act well. swa schwab is agenting well. online sites, insurance stocks, aig, the group is in play and it's rate related. it looks good. >> do you think financials could be the next leadership in the market. >> they almost have to be. as the second biggest sector by weight. the most important sector they need to come to life for the market to finally get out of this range. >> if not jpm which individual stock would you have chosen. >> wells fargo would be a good play we ar

it investors take -- for the investor's take, a strategist at j.p. morgan. marcus, the results for preliminary agreement and it doesn't look like where anywhere near an agreement. never mind a final agreement. what are your thoughts. marcus: another self-imposed deadline has gone by. they want to some level. both have stressed the progress on the creditors side they talk about the process and perhaps translate that to satisfaction. they are still far apart. and on the greek side as well. a lot of optimism. they are close but at the same time red lines. market reforms. for the greek government -- jonathan: just to jump in a look at the data. nowhere near a deal. and it has a real impact, do you can dan do you expect it to continue? marcus benasson: absolutely. not just as long as the talks go on but the uncertainty. and also before the talk started. the greek economy starting to the track. probably back in recession now. the lack of funding and the liquidity squeeze on two sides. the lack of money on the government and they have to make the debt payments and

this: in fact, we just had at j.p. morgan morgan stanley and that was a big focus, not just money but compensation of packages. what are you incentivizing and that is a lot of what the debate was about. mark: where the boats close? -- where the boats close? jp -- at j.p. morgan it was close but stanley morgan it was not. 51% approved it at j.p. morgan. and said it was too close they will talk about how these packages are composed. alix: thank you so much. get women on that board next time. change it up. david: will do. alix: i say bye to you. i will be back. mark: alex will be back coming up at 3:00. sir howard stringer signed david letterman to cbs 22 years ago. ♪ [baseball crowd noise] ♪ ♪ [x1 chime] ♪ ♪ [crowd cheers] oh! i can't believe it! [cheering] hi, grandma! ♪ mark: welcome back to "bloomberg market day." i'm mark crumpton. the islamic state has rounding up and killing of enemies in ramadi. the militants seized the city two days ago. victims bodies are being thrown into the euphrates river. the united nations says 2

amy: as j.p. morgan chase, royal bank of scotland group, citigroup and barclays plead guilty to felony charges and to pay out billions will anyone go to jail? we will speak to rolling stone's matt taibbi. we will also talk about why baltimore blew up. as met a be says, it wasn't just the killing of freddie gray. he will take us inside the complex legal infrastructure that encourages and covers up police violence. all that and more, coming up. welcome to democracy now!, democracynow.org, the war and peace report. i'm amy goodman. the self-described islamic state has seized control of the ancient city of palmyra in central syria. palmyra is home to some of the world's most renowned historic structures and is classified as a world heritage site. there are fears it could see the same fate as other cities where isil has destroyed ancient cultural sites and artifacts. with palmyra's capture, isil now reportedly controls more than half of syrian territory. the seizing of palmyra in syria comes as the u.s. has l

the global head of asked income strategy at j.p. morgan private bank. coming up on bloomberg market day, we are going to talk to the ceo of noble energy and that $2 billion deal. he will talk to david silver coming up next. will talk to david stover coming up next. alix: welcome back to the bloomberg market day. it is that first deal involving a major u.s. company since oil noble collapsed area energy buying rosetta resources in a stock deal valued at $2.1 billion. on the phone for an exclusive interview is noble .nergy ceo david stover thank you for joining us on this merger monday. why now? why was right now and a 38% premium the right time and price? down --t all comes comes down to do you find the right opportunity and can you reach an agreement at that point in time? right now there was an to put us into two new unconventional plays in texas. it is two areas we have been looking at for a couple of years now and developing some understanding of that. it just happened you have the conversation that allowed you to pull this together and set it up so t

talk to us about the j.p. morganbillion in demand coming from the treasury market and why there is not enough supply. >> short-term rates are kind of moving away from the fed mandate. regardless of what the fed does. all of those people were putting their money into money market funds and potentially losing money if the rates get negative, with new regulations coming together and the search for safety around the world. there is just as good luck of cash being piled into the short-term bonds, these three-month bonds, and it's causing a real kind of supply demand imbalance he -- leading to yield going negative in the u.s. on the short-term that last week alone. the impact here, mike, for the stock market? we had a big route last week rippling through all the markets. michael: i don't think there'll be a long-term impact that much, though they tend to look at it more closely over the 10 to 30 year, and really looking if you file some of the claims that broadhave a value in the stock market, it usually is a relative basi

j.p. morgan out to a 15-year high. right leadership is taking the market higher. >> ari, what do you do with the russell? if you look at the index it's struggling here. with rates going higher. a lot of people say it will be in trouble. maybe you agree but how do you fit that into your overall mosaic? >> as we look at the russell 2,000. it had a major setback to support. i think that breakout in fact this is not the type of behavior you see with the russell turning off new absolute highs. we like both big and sainte-paul caps. this is a very big region. small caps, we're not seeing that right now. >> ari, back to the large caps. maybe you mentioned selling the safety. they're big components of the s&p 500. can it make a meaningful breakout above 2120 without these massive components? to me that's one of the reasons why we have been churning in this 100 point range. a lot of these names have a lot of head winds. >> what we seen are these relative rotation, one area takes a back seat. they actually are moving sideways an

-- analyst from j.p. morgan.onomic challenges ahead, coming up. ♪ alix: welcome back to "street smart" i'm alix steel. you have the treasury rout coming to a halt today, and back to the breaking news desk, we go to scarlet fu. scarlett: let's start with cbs the television network it likes to call it self the most-watched television network, but it also has the most elderly viewing network -- grouping as well. there was a boost of earnings per share, and revenue, the top line dropped 2% because of programming costs so yes, cbs is making all of these great programs on its network and showtime, but all of that cost a lot of money. they have to pay salaries as well as claire danes's salary. and there has been a steady decline throughout the day it is the second decline throughout the day, and if you look inside the bloomberg terminal, you can see the decline for shake shack. most of the trading action was concentrated in the first 90 minutes of the section and the last 45 minutes of the section and overall, let's hea

observers point out the 61% approval over at j.p. morganvery close to 50% and big banks do not want to get a failed vote. morgan stanley approved its ceo pay with about 89% voting in favor which is down from last year's 92%. meanwhile, shareholders rejected the makers executive pay plan in there tuesday annual meeting. according to a proxy filing, execs were to get about $25 billion in fiscal 2014. that was rejected last year. voted inareholders favor of the compensation packages. one possible difference between last year and this year, shares in the company have fallen about 16%. su keenan, bloomberg news. rishaad: here's a question for you -- what do kfc and a contest have in common? revenue. >> we will try to make a connection. lets kickoff with the euro. >> this is the semi final. greecestant from submitted a song that was appropriate to the current situation in the debt crisis right now. the title was called one last breath. some people saying come back and save me, what happened was not fair. all i have is one left breath. some people

citicorp, j.p. morgan chase, barclays, royal bank of scotland. ubs will plead guilty in an interest rigging scheme. attorney general loretta lynch says the damage was widespread. >> their actions inflated profits while harming consumers, investors and institutions around the globe. including, the bank's own customers who placed their faith in the market and relied on it to produce a competitive exchange rate. pimm: the justice department says currency traders called themselves the cartel and used online chat rooms to rig exchange rates. target posted first-quarter earnings that beat analyst estimates. target's chief executive is working to get shoppers into the stores with exclusive merchandise such as the lowly pulitzer -- the lilly pulitzer collection. shares of lows are following today. first-quarter profit missed estimates. es could fend off a home depot campaign offering online promotions. the spring quarter is the biggest sales period for both of these change. betty: a new study says driverless cars could have an effect on the auto industry

let's talk to the global market strategist at j.p. morgan chase. we will talk europe what is your sense at how quickly this euro question will dominate. how quickly will they push this through? they want this off the radar don't they? david: they have made it very clear that the legislation that permits a referendum is a core plank of their policy. they want to get that on the books. they want to get the referendum date set. guy: when? david: two years. i would say they will stick to the plan. you put the date in and go to brussels. the brits could leave. you hesitate when you say i want this i want that, to make the case to stay in the european union. anna: avon, thank you very much for joining us. -- david, thank you very much for joining us. guy: for more on the u.k. relationship with the eu, let's go to ian. ian, how is the rest of the union likely to see this? how the politicians in berlin and brussels react? ian: to be honest, i think they will have mixed feelings. you spoke earlier it brings uncertainty, to the eu it bring certainty. the ref

today, j.p. morganl reveal its new investment into trite, the second stage of the bank's five your plan to help the struggling city p are j.p. morgan has already put $34 million to work there for job creation and neighborhood renovation. detroit emerged five months ago from the nation's biggest municipal bankruptcy ever. a new sign the residential real estate market needs more time to gain momentum. u.s.dence amongst homebuilders fell in the month of may. the national association of home builders dropped to 54 this month from 56 in april or the decline reflects cooling sales and slower buying traffic. the median forecast and increase, and readings greater than 50 mean more respondents and report good market conditions. world's top-ranked making it look easy. rory mcilroy won the championship in charlotte, north carolina yesterday. he had fired a course record 51 on saturday to take the lead. he won the title two weeks ago and now has six top 10 finishes in his last eight starts. that is incredible. thos

compare that to j.p. morgan chase, which had a 5% increase. jamie dimon also at the conference and talking about everything from lazy shareholders to the bank successions plan. what is the story? reporter: even about the recent guilty pleas saying it could hurt business. here's the deal. succession plan, not sure how it came up, but he said he would like to be more years at the helm of the bank. he did talk about his successor and a plan. joking that if i and hit by a bus, it is not my preference, but there is a plan. that brings up the question, what would j.p. morgan chase the light without him? -- be like without him? consider myself a complete failure if the company did very badly. run,hose businesses well id executives really good at doing it. comments some colorful coming from dimon saying shareholders are lazy if they rely on proxy advisors. it is interesting he said that, because at the most recent meeting there was a lot of negative vote on the executive pay packages. the bank's board is now taking a closer look at how it pays top exe

let me thank them quickly, we have pg & e, j.p. morgan chase erns and young. let's thank them. [ applause ] and there are several other sponsors that are named on screen as well as on our boards around the room. we appreciate all of them. we also have a national partner. that is the city's foundation and cities for financial empowerment because they chose san francisco as a city that they are providing funding for work space opportunity for youth in san francisco and the department of youth and families. let's thank city's foundation. [ applause ] then one more special shot out, back in the 11th of april we had a resource fair where we brought 500 people and brought them opportunities for resume review and mock training and how to interview and how to make yourself the brand. it was a fantastic experience. one of the core sponsors and representative in the room that day was starbucks. starbucks brought over 80 volunteers into that space to support us. and then have the audacity to hire over 60 young people that day. let's give it up to matt green and starbucks

j.p. morgan chase is laying off thousands of employees.omberg has learned the bank will make the cuts over the next year. the wall street journal is reporting jpmorgan may cut more than 5000 workers by next year. the bank said that they would compare $4.8 billion in expenses from its consumer and banking division. in has never been a bigger deal in the tech industry. buying technologies brought calm for $37 billion in cash and stocks. go buying broadcom $437 billion. this deal is said to break up the investment. climate change is making storms more intense and damaging. the president receive the latest briefing at the national hurricane center in miami. predicted 6-11 storms the season with three developing and hurricanes. the season starts next week. those are your latest top stories. the st. louis president james bullard is urging central bankers to raise rates. he sat down with bloomberg radio's michael mckee and kathleen hays in an exclusive interview earlier today. bullard: when you look at the economy overall, five 84% unemployment,

j.p. morgan chase & co cut thousands more jobs over the next year. seeking to contain expenses. sources cited by the wall street journal say more than 5000 workers could be laid off by next year. since february, jpmorgan said it would cut almost $5 billion of expenses in its consumer and investment banking division. they eliminated about 6000 jobs in the last fiscal year. lost of forst woman your legal battle over control of her families $3.8 billion trust. the supreme court of new south wales named her eldest daughter beyond as trustee. 2011aunched the action in after changing the investing date of the fund. ofholds nearly a quarter hancock processing -- prospecting. some strategists, when we return on "first up." ♪ angie: an investigation is underway after live anthrax bores were sent from the u.s. to south korea. the center for disease control said the often lethal bacteria was also shipped to government and commercial labs at nine u.s. states. the pentagon confirms that the samples were shipped from you taught using a civilian delivery service. a spokesman said no one has sh

what is the probability that in today's environment, that j.p. morgan will be allowed to default?he answer is zero or less. alix: managing partner with at old black. what is your take listening to them talk about rates? guest: to be honest, richard fisher knows a lot more than i do. but he has been slightly offkilter for a long time. he has been hawkish. i think that would have been a mistake had we turned hawkish three or four years ago. i think we are in the sweet spot now. my guess is the fed wants to raise interest rates. taking do not the table as an exercise in abstract thinking is the wrong place for markets to be. there is a risk we had a jobless number coming up this week. there's a risk we had cpi data that is way ahead of where we are -- consensus is that .1% right now. these things can change. they are very temp right now and not priced in the markets. alix: good to get your perspective. we do have breaking news concerning computer sciences. computer sciences saying one company will serve commercial and government clients globally and one will serve public-sector clien

joining us now is phil from the global head of the income strategy at j.p. morgan private bake. hi. are you? about what were seeing in the market -- what's the catalyst and where does it go? phil: we are having a bit of a route involved markets, but the deal that was just broken about in terms of noble and rosetta points to another part of the market doing great, the u.s. high-yield market, which has actually held up well despite of the backup and treasuries over the last and is out almost 4% for the year. some parts doing worse and some parts doing better, but ironically it the risk bs -- risk free aspects of the treasury doing worse because the rates have gone up. the credit market in terms of the high-yield and emerging-market that are doing fine for investors. risk to, say,the agrees. what happens to a market in that cap circle? phil: our concern going forward be a repeat of 2013. with the tape -- taper tantrum pointthe raised rose to a high-heeled. u.s. which hasn't happened yet. the fact that it hasn't happened is one of the reasons i am of it or constructive with great settli

they include j.p. morgan chase citigroup, and barclays. the banks were accused of working together to manipulate rates on the foreign exchange market. alison: more than one million people could be impacted by a data breach at insurer care first blue cross blue shield. the company said the hackers gained access to information like names and birth dates. carefirst said they did not gain access to social security numbers or financial or medical information. the company is offering free credit monitoring and identity theft protection for two years. carefirst is the third major health insurer to disclose hacks this year. leon: d.c. makes the top of as list. it ranks as the country's most adulterous city. according to "the washington post," this comes from a website for married people looking to have affairs. more than 59,000 people registered with a d.c. get code -- zip code. they say most d.c. users are from capitol hill. alison: everyone living in those areas now looking at their partner. steve: tenleytown, go figure. [laughter] we are lookin

coming up more with j.p. morgannd stephen parker, we will talk , japanesepean stocks stocks, and the u.s. when we come back. ♪ alix: welcome back. i'm alix steel. federal regulators are turning up the heat on chrysler's u.s. unit. the national highway traffic safety administration is requesting more documents pertaining to how the automaker's handling the recall of millions of vehicles and also scheduling a rare public hearing. the -- the agency has been frustrated by the companies slow pace of recalls. just --the company as after just a few months as ceo. and now john cahill is entitled million9 -- what $19 parachute. ifill would get the payout he is fired without cause in two years or if he leaves because of a salary cut because of a reduction in his duties. stunned walls street by quitting last year and now he will go back to how he started, as an energy banker. mcgee has a track record that includes some of the energy industry's biggest deals ever. and he's one of the next ceos $41 billion sales of exxon mobil.

and it is not just major sponsors who find themselves in the spotlight, 12 local banks including j.p. morgan citigroup, and hsbc have been named in the indictment. for now, none of the banks cited in the investigation have been accused of any wrongdoing. host: let's move on. greece take center stage at some of the worlds most powerful finance officials are meeting in germany. the talks break together finance ministers and central bankers from the group of seven. there are fears of greece defaulting on its debts and this has dominated the statement. they want to secure more bailout funds from the eurozone. there are differing opinions on how close a deal really is. in germany, the head of the international monetary fund rejected greek claims that a deal is close. >> there has been some movements on several accounts. on pension reform on the civil service, but there's is still a lot of work to be done. >> this optimism that they are expressing is not just empty words. it is based on specific facts. based on all of the work we have done in this past week and the progress that has been made. pos

few break out this figure and j.p. morgan did said in 2013 said each household had 7.6 product and their target was going for great to head for eight and each penalty could be as high as $2,800 and the bank will vigorously defend itself against the allegations. for "nightly business report, in new york. >>> still ahead, it may still be six months away but could the outbreak of bird flu impact your thanksgiving f >>> it is the biggest outbreak of bird flu in u.s. history and today roiter is reporting that the government approved $330 million in mrj funds to contain the disease. the strain is wreaking havoc on poultry in the u.s. about rising prices and impact on all things thanksgiving. morgan brennan has more. >> it keeps getting worse. iowa and minnesota has announced more probable cases of bird flu bringing turkeys and chickens affected up to $25 million. this is the biggest outbreak in u.s. history, surfacing the early 1980s that claimed 17 million birds. the usda and cdc said it poses little risk to human health and has n

ubs, barclays, citigroup, j.p. morgan chase the royal bank of scotland, and bank of america. the charge -- rigging euro-dollar exchange rates and key interest rates. washington says the steep fines should send a signal to all banking and two shins. >> we are -- all banking institutions. >> were here to announce major action against financial institutions that for years participated in a brazen display of collusion and foreign-exchange rate market manipulation and will, as a result, pay a total of nearly $3 billion in lines and penalties. -- fines and penalties. >> the $3 billion in fines is just what they will have to pay to u.s. regulators. they will pay the same again in fines to authorities and the u.k. and switzerland. for the banks, the story does not in there. washington says individual traders may still ace criminal charges. >> european markets lost a bit of steam in midweek trading. our correspondent sent us this summary from the frankfurt stock exchange. heavier: after two days of intense endings and a jump of around 4%, it was quite difficult to keep the green numbe

still with us is john of j.p. morgan asset management. no jokes about the interview. what has changed? >> there are a lot of similarities. >> they were talking about greece and this goes back to the last 60 years or so. the parties had 95% of the vote and now have 65%. this is the end of the two-party system. they will be the largest and it comes to who will be the support. is easy to forget. is there a chance that we wake up? >> it turns out there was not much. >> you had us pegging the margin of error. you would be really factoring that are to and and what the markets are focusing on is seeing the end of a two-party system. will we work through? obviously not. take too long and the markets won't like it. they will probably hold that. >> the gdp is much higher and the unemployment is much lower. there is the interesting story. do i see it? >> there is concern over growth and it is used to that pre-the crisis. the latest quarter was edging back towards the equilibrium rate. that is encouraging and gdp is still not that much above the peak. it is only around 3% or 4% a

banks -- citicorp and j.p. morgan chase. at the holding company level.nd take thesece law seriously. angie: a real move toward accountability as well. the justice department may scrap be no prosecution deal. greg: this is another sign the justice department is responding to the perception they haven't gone very hard on global banks for past misbehavior. case, with ubs coming ubs cooperated and helped the this program but they struck a good deal a few years ago, a nonprosecution agreement. the justice department has been cycling -- signaling it might carry over these old agreements if these banks continue to misbehave. that continues to be the case. we are reporting the justice department will likely pair up that nonprosecution agreement. it is all about overall behavior and not just per incidents. morgan chase,j.p. if this happens, what did be a first for ubs banks -- would be a first for u.s. banks? a strange way, it might provide some benefits to the banks even of the top executives will not like the fact it will be a guilty glee at the holding company

. >>> j.p. morgan downgrades deere, a rare call citing a potential cash crunch for u.s. farmers. shares fell 3% to $89.13. >>> a market monetor is betting on the consumer and has stocks she said will rise 10% over the next year. she is margio patel from wells fargo funds management. good to have you with us. you are banking on the consumer but today's news on consumer sentiment was dower. why do you think the consumer is going to do something they haven't shown the preddelection to do and that is depart with their cash. >> well there is improve in the finances. and we have the unemployment numbers improving, here and there improvement in wages and will continue to benefit from energy prices being low and the dollar being low and that will keep the lid on imported goods and will continue to see the income grow and have the money to spend. >> what about the stock market itself. we came into the year with increased volatility and you think that is passed us and the volatility is lower, what kind of market do we have as we go into the second half of the year? >> i t it more of the sa

the fifth bank is ubs based in switzerland and the others are citi j.p. morgan and the royal bank of scotland. and bradley birkenfeld went from whistleblower and now a twist in the final chapter of the whistleblower series. >>> after serving 2.5 years in prison for his role as a swiss banker hiding millions of dollars for wealthy american clients, bradley birkenfeld moved into a small rental home in new hampshire with no immediate plans for the future. a month later he got some life changing news. >> my attorney informed me that the irs whistle blowing office was going to grant me a large award. >> for $104 million. >> yeah. well they had taken taxeds -- taxes off the top. >> you learned that. >> the taxes off the top. >> it was vindication. and it vindicated me against the department of justice. you don't think they were happy to write you that check. >> they were pissed and i'm pleased. >> but he is still angry. he's on a quest to force the justice department to explain why it was so aggressive in prosecuting him but letting nearly everyone else involved in th

ubs, barclays, citigroup, j.p. morgan chase the royal bank of scotland, and bank of america. the charge -- rigging euro-dollar exchange rates and key interest rates. washington says the steep fines should send a signal to all banking and two shins. >> we are -- all banking institutions. >> were here to announce major action against financial institutions that for years participated in a brazen display of collusion and foreign-exchange rate market manipulation and will, as a result, pay a total of nearly $3 billion in lines and penalties. -- fines and penalties. >> the $3 billion in fines is just what they will have to pay to u.s. regulators. they will pay the same again in fines to authorities and the u.k. and switzerland. for the banks, the story does not in there. washington says individual traders may still ace criminal charges. >> european markets lost a bit of steam in midweek trading. our correspondent sent us this summary from the frankfurt stock exchange. heavier: after two days of intense endings and a jump of around 4%, it was quite difficult to keep the green numbe

chief local strategy edgist at j.p. morgan funds. these numbers, head snapper or head fake? >> head fake i think. as steve said in his reports, there are a lot of variability in the first quarter numbers and special factors but the main thing is if you look at other data pending home sales, strongest level since 2006. and next week we get light vehicles which looks at 17 million units an so economy is coming back and yet again we're being faked out by one weak quarter when the economy is motoring ahead. >> and what does this mean for the second quarter quarter and growth for the rest of the year where do you have it tracking? >> well we think that growth will bounce back. i'm coming up with about 3% growth for the second quarter. a lot of that bouncing back from the special factors here. and then about 2% to 2.5% growth for the rest of the year. that doesn't sound like a lot but plenty for this economy to cope with. i think it will push the unemployment rate down toward 5% by the end of the year and really the federal res gets to get -- needs to get going here. >> obviously

we are expecting citigroup, j.p. morganhase and the royal bank of scotland to plead guilty and each pay about $1 billion in fines over allegations they manipulated currency markets according to people with knowledge of these settlement talks. ubs has just come out and said it faces no criminal charges, no fine from the doj on this fx probe. it has got conditional immunity from prosecution from this fx probe by the department of justice. the doj is to determine its libel fine for ubs. and ubs says there will be no final impact on the second quarter 2015 results. ubs is required to plead guilty on this legacy libel conduct. you will remember a number of years ago, we have had a number of banks fined for rigging the libel rate and collusion going on as there has been in the fx market. ubs will plead guilty on its legacy libel conduct and pay a $203 million fine. the bank is provision for these results and the payments of the board of governors will be $242342 million. a number of fines but it is immune to prosecution for this

. -- the us is the home head of ackley solutions for a shot j.p. morgan private bank.we have seeing, stoked by the action over the weekend. what do you think? reporter: i think -- guest: i think this is a good thing for the market at the moment. we continue to view economic news is good news for the market. and with these rate cuts we can not as good as they were expecting. rate cut is something we were expecting, probably later than today, expecting something for june. i believe it's going to be a good news for the market today. at the same time we see that the -- a premium of 30 percent-50%. and stokes savers who have been really funding ons debt to really ease up parcel for them. maybe they all go into the equity markets. go,t: they have started to quite significantly we see a lot of accounts being created, a lot of merging -- margin. is too far too fast. we can see a lot of volatility going forward. angie: what about institutional investors? 20 take a look at this, is it perhaps a little too risky and -- a lot of big firms are starting to take their money out. gues

. >> j.p. morganortedly cutting 5,000 jobs mostly from consumer banking as the company overhalls branches to focus less on human tellers. amazon is expanding the grocery business reports say adding more private label food items. last year amazon launched elements brand. >>> and jay-z and beyonce could be heading to a split. asking tidal for big advances in return for rights to stream songs. it could lose beyonce's music. it has 900,000 users but most are trial memberships. >>> just ahead, an nba star goes to prom. >>> plus, who's that bench pressing the weight equivalent of a motorcycle? sports is next. does your makeup remover take it all off? every kiss-proof cry-proof, stay-proof look? neutrogena® makeup remover does. it erases 99% of your most stubborn makeup with one towelette. need any more proof than that? neutrogena. so when my husband started getting better dental checkups than me i decided to go pro... with crest pro-health advanced. my mouth is getting healthier. my teeth are getting strong

jenkins said the people involved have once more brought our company and industry into disrepute and j.p. morgan chase ceo jamie dimon called it "a great disappointment." more than a dozen bank employees have been fired but the justice department has been criticized for not charging individuals in major financial cases including this one. prosecutors touted the fact the banks themselves were charged rather than subsidiaries. but scott, because of agreements made with regulators all of the banks will continue to operate normally despite their guilty pleas. >> pelley: more felonies on the rap sheet of wall street. jeff, thanks very much. there is a serious threat to the world's heritage tonight. i.s.i.s. has taken the famed syrian city of palmyra. the city mentioned in the old testament is the home of priceless ruins. the extremists of isis have destroyed monuments elsewhere, declaring them un-islamic. the fall of palmyra comes days after i.s.i.s. overran the strategic iraqi city of ramadi the capital of a province that more than a thousand americans died to secure during the u.s. occupation. toda