. >> jp morgan chase provides food stamp debit cards in 26 states and the district of columbia. the sphirm paid per customer and in the state of indiana jp morgan makes roughly $186,000 per month. >> jon: whoa in facts is genius. tins 200418 of the 24 states they handle have been contracted to pay the company over $560 million. it's a brilliant business mold. you make a ton of money selling subprime mortgages and and derive actives and when that business crash the economy and millions of homeowners thailand themselves underwater and foreclosed upon and have to go on food stamps they get a tieft of that too. think of them not as shorting homeowners think of them as going long on hunger. [laughter] i assume they put that money that they got into creating jobs for the few nonlazy americans left. >> to save money, jp morgan has been routing benefit card customer service call it's india where employees reportedly earn no more than $3.50 an hour. >> jon: don't hire americans it cuts into your food stamp business. you have to maintain your base. what i'm getting from fox is exploiting

francisco mayor ed lee and jeff is here and coworker i didn't and mark farrell and london breeding and jp morgan moscone and convincing and kevin shelly and regularly allergy. cohesive craig shur and fire chief joan as well as all of you very special people. we welcome you carmen count iv u chiu is on my list and thank you for not allowing me to use your titles today. unfortunately, i have to inform you that bar andrew young was unable to leave his people home in atlanta, georgia because of the snowstorm it was two threatening for him to travel so ambassador young who was a constant champion of dr. martin luther king was emotional about missing this occasion. he hoped for an opportunity to talk about the sfakz of the movement and it's connection to the process shown p.i. by this sermon, however, mr. kings personal attorney one of his political advisory and for historical reasons he was a draft speech writer and one who helped him write the iconic i have a dream speech. he's a professor at the every time of the san francisco and a schooler at the martin luther king jr. at the university. d

jp and paul are with me.. >> thank you. >> looking good. >> how has it been, jp? july start with you. >> it's been a long road, lot of ups and downs, but every day it gets better. so i just keep looking forward. >> you, jp, lost your lower right leg. >> yeah, i lost it below the knee, yep. >> you had severe burns, shrapnel injuries. tell me a little about your recovery? >> it's been long, and we have had setbacks. we have had a lot of surgeries, but everybody that's, you know, guided us where we're going, they told us how it would be and how it was going to go. they were pretty spot on. >> and paul, we're looking at the reunion that was taped of you guys in the hospital. you were separated in the chaos. you lost your left leg. what was that like or what is it, i should say, like writing about this and looking at the video even today? >> actually, i lost my right leg, also, but no, my left leg. the reunion, first time i saw him was very tough to see my brother like that. it was awesome to see him, like the bes

a top aide to jaime dimon will leave jp morgan. michael cavanagh, the co-ceo of jp- morgan's investment bank division is leaving for a top spot at the carlyle group. rumor has it cavanagh had been considered a possible successor to ceo jamie dimon. reuters reports over the past 2 years, the bank has had turnover in 7 out of 9 key positions. a federal court is rejecting an appeal by rajat gupta. gupta wanted his infamous insider trading conviction overturned by the court. but the court rejected his bid for a new trial. gupta is a former goldman sachs director and was sentenced to 2 years in prison for leaking the goldman's boardroom secrets to his hedge fund operator friend raj rajaratnam. investors had little reaction to walmart admitting its dependency on government benefits. in its annual report to the sec-- the company listed factors that could hurt sales numbers. among the factors: changes in the amount of payments made under the supplemental nutrition assistance plan and other public assistance plans..." the international busi

>> at any time, jp could be deported.to be a long weekend, and chicago's first responders are on high alert. >> historically, fourth of july, as soon as the sun goes down, it should be pretty busy. you never know what's going to happen. ♪ >> amid all the fireworks, four people got killed. police are on the move looking for the triggermen. >> he's hiding in there, go in the basement. >> what kind of gun is it? >> it was a black gun. the last words i heard him say, man, i'll take your life and mine. >> how many shots did we hear? >> how many shots? >> late friday night, a young man on his front porch has to run for his life when men spill out of a car and start shooting. >> 24-year-old male, one gunshot wound. >> jeremiah millsap is shot and badly wounded and rushed to the trauma unit where dr. dennis is on duty. >> we're going to help you out, all right. tell us what happened. >> i don't know. >> does he have another hole? >> yes. >> he's got two holes. all right, we're here for you, buddy. keep talking to us, okay? >> ope

jp morgan stock traded near a 14 year high thursday. in our ipo watch this morning...shares of a cloud- based financial services software company-- are sky high. q-2 stock soared 15% yestesrday in its debut on the new york stock exchange..the ticker symbol is q-two burn treatment maker mediwound is off to a healthy start. shares rose 23% thursday, trading under ticker:mdwd. while drug maker ah-key-bia therapeutics shot up 57% in its ipo.the ticker is akba. the health care sector is leading the way with ipos. the supreme court of arkansas threw out fraud charges against johnson and johnson. j and j was accused of fraudulent marketing over its anti- psychotic drug risperdal. arkansas claimed the drugmaker did not propertly expose medical risks to arkansas medicaid patients.while j and j's attorney said there was no fraud or improper reimbursements for medicaid patients who took the drug. a startling 3.5 million cars recalled for various issues, wound up for sale online last year. carfax.com, cross-checked listings for cars on major websit

jp morgan chase is selling its commodities unit for 3 and a half billion dollars. the buyer is the fast- growing swiss energy and commodity group mercuria. jp morgan is believed to have decided to sell it because of rising regulatory and political pressure and so it can concentrate on its core business - lending money. the new york attorney general has put high-frequency trading in the news.eric schneiderman says regulators have to look at what he called the 'unfair trade advantages' some traders have...by getting information & executing trades milliseconds ahead of the pack. he is going after exchanges, including the new york stock exchange and the nasdaq, that allow high-frequency traders to put their computer servers inside the exchanges' data centers.defenders of the practice say it saves big and small investors money and hassle.. and enhances liquidity. meanwhile, strong words for wall streeters from benjamin lawsky. the head of the new york department of financial services said we should shame bankers and traders by publically exposing them, fining them and p

edgar's.bring in jp i want to talk about microsoft. satya nadella will be making his first big media presentation to unveil microsoft for apple. the question is, is he too late on this? the tablets have been out. people felt comfortable using them. they really need microsoft office and excel on their tablets? >> it would be better for microsoft if they have been there earlier, but at the same time, we are coming through days one with the tablets, which is a online,, check things this idea that we will move to the tablet moore is an actual business divisive people use it much more frequently, that is the time in office these to be there can be accessible. >> what stuns me about this, what took so long for microsoft to get on an apple platform. what is the why there? >> this has been microsoft's strategy, use the monopoly power. monopoly power in one apart of their markets to basically help growth in other parts. if we restrict microsoft office to only being on the windows mobile platform, this will help sales of windows mobile, which is

shares of jp morgan fell slightly nonetheless to $60.93.ker of rayban and oaklee sunglasses is teaming up with google. they signed a deal to design and manufacture glasses with the google glass technology. say that five times fast. that sent shares of the eyewear company up more than 4% to 56.20. the canadian government reportedly blocked blackberry's attempt to sell itself to the chinese computer giant lenovo last year this according to reports. the smartphonemaker was told that a chinese or russian investment would be met with stiff domestic opposition. so blackberry abandoned the sale. shares of blackberry were off a fraction today to $9.36. >>> the activist defendanter dan loeb of third point sues sotheby's to remove its shareholder plan. he claims their poison pill which put a cap on how much his firm can own limits his efforts to shake up the company's board. sotheby says the poison pill protects existing shareholders. shares of sotheby's up slightly to $43.07. >>> tesla, pandora, yelp have seen their share prices stall. does this mea

>> the figures you cited, refugees, it's a crushing burden on jord jp, lebanon, and heavy on turkey.urkey is better able to support it than the others. sting, it's a pressure on them. and, you know, experience with refugees is when they are out of it, they are out of a country for as much as two years, they tend to not want to go back. what is going to happen is not going to be 2.5 million don't want to go back, but a substantial number. >> we talk about pressure on the neighbouring countries, what does that look like. there's concerns that there'll be divisions within the refugees and locals, and hostilities as well. correct. >> yes. >> especially lebanon. >> they are competing, if they are trying to get some work, to get some money. they'll be competing with lebanese workers. sure, with the best of intentions, the host country is going to start feeling resentment towards the refugee population. >> how do you see it playing out. do you think the war will continue nor another three years, is the tide turning in another direction. >> i wish i could say i see the end. i could not see t

so, now you're thinking about this after that jp morgan washington bridge closures for two lanes i'morried about my commute today (laughter) the chances of jerry shutting down the entire bay bridge and biking it back to where he came from thank you, very much (laughter) that is what he thinks he is so why is that hard. i'm just delighted you came to help celebrate and this occasion. i must tell you that i'm overwhelmed but all of you. i think i would have to pause for a moment and ask every person who's here that served with me in the california legislation or the assembly during those tumultuousus thirty years if you'll rise and let people see who you are. obviously, we can't introduce all of you, please rise and let people see who you are my mother minnie. many years ago (clapping) passed on she would have been a one hundred and 5 here today, the 11th of february. at one time when she was evidenced some degree of illness we decided to have a reunion every february 11th to let her know how much we loved and respected her. we had no idea thechs faking it it took those 11 years or mor

francisco mayor ed lee and jeff is here and coworker i didn't and mark farrell and london breeding and jpnd kevin shelly and regularly allergy. cohesive craig shur and fire chief joan as well as all of you very special people. we welcome you carmen count iv u chiu is on my list and thank you for not allowing me to use your titles today. unfortunately, i have to inform you that bar andrew young was unable to leave his people home in

these two men were afraid to speak on camera, but said it takes a lifetime for a kooub jp, who arms an -- cubans who earn $20 a month, to pay for a car. >> it's enormously disrespectful. our sol ris are not enough to cover personal needs. we have done the numbers. >> driving a small car like this on the streets of savannah is no big deal. >> for most, it's an unattainable dream. >> it is the latest in a series of reforms to spark growth and get cubans off the state payroll. with prices so high, cars will sit unsold. despite the freedoms, cubans will be getting around as they have done for decades, with a lot of patience. >> as for the press, the cuban government says the profits from selling new cars will fuel funds for public transportation. >> as we take a break, a reminder to stay with al jazeera america for continuing coverage of the jet. the australian prime minister said two pieces of debris have been spotted in the southern indian ocean 2, 500km from perth. more news at the top of the hour, and more news at al jazeera america. i'm thomas drayton, thanks for watching. >> a possib

they are taught the core jp, and the separation of men and women. >> this class is for the older girlshat will study islamic philosophy. at the top of the class behind me is a large wooden box. that is where the teacher sits. because he's male and can't be present. >> so the girls have never seen their male teachers. even in the most conservative countries. the student stress they are not against subjects like science, saying many studied in college. this girl is 18, and wants to be here. with intelligence i want to say i wanted to come and study the holy book, to live by the book. >> some worry the school is a security threat. places in neighbouring pakistan are accused of teaching extremism. >> the head teacher says they do not teach violence, but admire the taliban. >> we don't have a problem. the problems were not from the taliban, but those in the regime that gave a bad name. the taliban wants to bring in an islamic regime. the westerners want me and you, not muslims. the taliban banned schools teaching any subject, including religion. teachers believe they'll find a solution. par

he's global market strategist at jp morgan funds. >>> still ahead, when stocks sale off, what does warren buffet do? answer and his take on everything from the economy to stock market straight ahead. >>> americans made more money in january despite the hash weather, we spent even for of it. personal income rose 3/10s of 1% but spending was up by 4/10ths while spending in december which included the heart of the holiday shopping period was revised lower. factory activity rebounded from an eight-month low as new orders bounced back. >>> warren buffet, the nation's best known investor famously said investors should be fearful when others are greedy when others are fearful. how does the or kill see the market right now, especially with tensions in ukraine making many investors fearful? becky quick speaks with him on that and first, the u.s. economy. >> we've had this moderate but consistent growth now for four and a half years and every now and then we get excited about a speeding up, and every now and then we worry about a double dip. we haven't gotten wildly optimistic and pessimistic but o

speaking from russia and in rub jp, viktor yanukovych -- russian, viktor yanukovych says his governmentas not been overthrown. >> a lot has happened in russia on friday during diplomatic rounds. for moscow we heard from the foreign ministry expressing concern about the escalation of violence in the ukraine. they have concerns about the ruling party, the government in kiev, saying that they are extremists, and nationalists. that is something that was echoed during a press conference in the southern city where the ousted ukrainian president viktor yanukovych had this to say about those who are now in power. >> i repeat it over again - i am a legitimately elected pratt of ukraine, and was elected at free and democratic elections, and i remain the legitimate president of ukraine. >> russia put out a press release from the foreign ministry saying they have mobilized some mobile units, but that is perfectly legitimate under the agreement between ukraine and treaties signed in the past, and the seaport, and should there be a crisis or threat to security that russia is able to mobilise its forc

. >> michael, the department chair at column by jp university's school of public health. >> general motorsn the news for three recalls, in addition to the 1.6 million cars recalled for faulty ignition switches much the death that sparked investigations by prosecutors and lawmakers and public outrage because the company knew about the problem for more than a decade before announcing the recall. food today's recall is luxe cars, distance - it relates to the airbag. no issues have been related, but it affects the buick enclave and the ak ardia. well, the winter thaw is here. factory outputs surged 0.8 of a per cent in january. factories are a major comment of industrial production, mines, power plants, electrical utilities. industrial production gained 0.6. the positive swing in the data reinforces the notion that the bad winter weather hurt economic output. the trend now seems to be reversing. a generation ago you didn't tell anyone you lived at home with mum and dad. times have changed. >> it's not a stigma, because we are all doing it. it makes sense. our parents no none of us can afford t

blowing the whistle on jp morgan proved profitable for a former employee. a whistleblower is receiving 63 million dollars for insider information about bad behavior in jpmorgan's mortgage division during the housing crisis. in february---jpmorgan agreed to pay a 614 million dollar settlement for mortgage lending fraud. the man's lawyer says he hopes the fee sends a message to wall street. the majority of taxpayers are getting a boost in returns this year. the average refund is up 3% ,topping 3 thousand dollars. however, usa today reports the boost is due to a rising amount of low income, or underemployed americans claiming "earned income credit" on their taxes. other trends: filers are turning taxes in earlier...and electronically. coming up -- on first business a no-holds barred look at wwe in chart talk...and we'll move from the wrestling ring to the trading floor for stories of success from a female champion. but straight ahead, more on that surprising jobs number...right after this break! a surprise risethe government reports for the month of february.

the fundamentals for the larger companies remain solid and jp morgan says growth porospects remain above the market. >> joining us now jeff, senior biotech analyst at sanford c. burnstein. the sell off as reported was triggered by the words of one congressman about one company. is this an over reaction, this sell off, justified? >> certainly there is a lot relying on the letter on friday and potential risks to the biotech pricing model. we really don't think there is much to be read into the letter and the ability of congress to dictate prices to pharmaceutical companies, doesn't exist in the current legislation. we're terribly concerned about that, however, it does signal confidence in the group and how the stocks are traded is certainly instructive for those of us who are close to a remarkable rally in the group over the last two years. >> so it's down, oh, single digit in percent terms over the last couple days, jeffrey, but where do you think it ends? is there more decline to go here? >> yes, we had, give or take, five to ten percent correction. the largest caps, the worst performers

let's talk about jp morning. this company had their annual inventory last week. it caught my attention today, it banged up against that previous high, within penny, 5980. when you look at that chart, it pulled back in. the stock had a monster week, 60% off the lows of monday. so here you are, you have this thing. i actually think if you think about how the european banks traded. they closed at 2% on the low of the day. listen, j.p. morgan does not have a lot of exposure over eastern europe and russia. it's more about the broader contacts, volatility is not pricing anything here in the u.s. stocks. i want to look at stress tests in the next two weeks and j.p. morgue isn't going to look at their q 1 qui we know is going to look bad. if the outpushing is murky, i think you have an opportunity to make bearish bets. >> so are you a bears. what is yours? >> this is a term, it's a rocky term. i think of a poor technical setup and cheap options. i look at the april 11th weekly puts. that's the morning that they report their earnings. you could buy the april 11th weekly p

jp morgan's chief strategist thomas lee-- reportedly has exited the firm. seaworld shares were sinking in after hour trading. the theme park reported a drop in attendance. while ulta shares beautify..after topping earnings estimates. senators reach a deal on unemployment benefits. the bi-partison measure extends benefits by 5 months and makes payments retroactive. michael gurka of chicago-based spectrum asset management joins us this morning. happy friday michael. >>thank you. >>it looks like we're headed for a losing week. but sometimes pullbacks are positive for marketscorrect? >>history shows usat least in the last couple of yearsevery one of these 200 plus days lower in the dow or 20 or more in the s&p have been pure opportunity. but i think the market clearly has a little bit of a different flavor to it from yesterday's trading and more important technically for the week, it looks as though it's gonna start settling in on some bearish territory which actually could get a lot worse. >>the euro is showing strength. what is that telling you? >>it's a litt

. >> reporter: jp morgan analysts say both nike and adidas should see a sales boom from the upcoming world cup in what's been an uncertain global economic environment or as parker calls it macroeconomic volatility. -escalate a more competitive one with under armour getting in on high profile sponsorships. >>> still ahead, what are your chances that your employer will offer health benefits a decade from now? we'll take that one apart next. -escalate . >>> the latest now on the crisis in ukraine in the white house press room today, president obama set a referendum by voters in ukraine's crimea region to become part of russia scheduled to take place on march 16th would violate international law and ukraine's constitution. >> any discussion about the future of ukraine must include the legitimate government of ukraine. in 2014, we are well beyond the days when borders can be redrawn over the heads of democratic leaders. >> meantime, the house of representatives overwhelmingly passed a bill that would fast track loan guarantees for ukraine. that measure now heads to the senate for approval

you have companies like intel microsoft johnson & johnson, exxon mobile jp morgan. they remain attractive on an absolute basis. relative to other things, for example treasuries in some part of the fixed income market some areas of real estate like london houses, u.s. stocks the big quality companies are easily the most attractive thing to me. sometimes when it gets this easy you wonder what could be wrong with it. good news is there's numbers. >> you saw today fitch ratings lifteded its negative outlook on the u.s. economy. we've had some good reports on the u.s. economy this week. that is one of the reasons that you feel better about investing here rather than in nonu.s. holdings? >> absolutely, susie. you and i spoke earlier today about the interesting juxtaposition of the u.s. having its improved fitch outlook and russia being downgraded. these are simply facts. facts are stubborn things. the u.s. looks pretty good. we're probably getting right now this week a few indicators that the spring could be surprises to the up side with the economy. and one of the reason

jp morgan chase exposure nearly $5 billion. >>> radio shack has no stores in russia. the struggling retailer is having a hard enough time attracting shoppers right here in the u.s. after a terrible fourth quarter which included the holiday season, shares of radio shack tumbled 17% today, forcing the company to announce some major changes. courtney reagan has more on the massive number of store closings to come and whether radio shack can even survive. >> reporter: for decades, radio shack has been the answer for folks in an electronics pinch, needing that cable or connector. but some believe radio shack may be entering the beginning of the end of its lifetime as the neighborhood electronics solution. today the retailer announced a big drop in holiday sales, a larger loss than a year ago, and said it will be closing 1100 underperforming locations. that's 20% of its existing stores. >> the 80s quacalled. they want their store back. >> they had a well-received super bowl commercial poking fun at its stale store appearance and brand, though it seems consumerers were more

the federal reserve approved the capital plan at jp morgan chase. the bank is nowing buying back $6.5 billion shares while raising its stock dividen to .40 cents per share. goldman sachs and bank of america passed the test after reducing requests for buybacks and dividends. mt gox is working with police to search for it's missing money. the japan based bitcoin exchange is working with tokyo police to recover more than 450 million dollars wiped out from investors' accounts last month. mt. gox says in a statement: it "continues to make efforts to clarify facts as quickly as possible and to recover from damages." the company filed for bankruptcy protection february 28th. a rough winter for american's is turning into an even tougher time for farmers. snowy, frigid winter weather could make it difficult to plant corn and soybean crops. bernie rayno of accuweather has the farmer's forecast for us this morning.. bernie? unfortunately, the weather as we go forward is not going to be much differnet that what we've seen this past winter. that is the core of t