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Not that bad
Like most other American banks, JPMorgan has been affected by the European debt crisis. Bank of America
Bad News for News Corp.
More problems seem to have arisen for News Corp.
Many carriers are facing expensive compensations after Research In Motion's
Though it may not be the carriers' fault, it has come at a hefty price for them. RIM said today that though there is improved service, the problem has not been completely fixed. For RIM, the cost comes as a hit to its reputation as it struggles to compete with newer and better smartphones. Read more at Bloomberg.
In a widespread economic downturn, China's lower-than-expected trade surplus was one more sign all markets have been loosening. The International Monetary Fund warned that Asia could see strong side effects if European and American troubles continue. The surplus narrowed down to $14.5 billion in September, the second consecutive decrease. However, U.S. lawmakers continue to say China has kept the yuan unfairly low against the dollar, and are pressuring the country to increase its currency as the Senate passed a currency bill. Chinese lawmakers responded by saying a higher yuan is already hurting its exports. The bill would impose tariffs on some goods if the Treasury Department determines China is undervaluing its currency to its advantage. Chinese authorities have let the yuan have a gradual increase since mid-2010 as its economy begins to slow down. Read more at The New York Times.
So there you have it, the top financial stories for this afternoon. If you are interested in getting all the news and commentary on these stocks, sign up to My Watchlist here; it's free!
Michelle Zayed doesn't own any stocks mentioned. The Motley Fool owns shares of Citigroup, Bank of America, Telefonica, and JPMorgan Chase. Motley Fool newsletter services have recommended buying shares of Vodafone Group. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.