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$JPM 2Q15 PR: Provision for credit losses was $935MM, up 35%, despite lower net charge-offs, due to lower reserve releases compared with prior year. In the current quarter, consumer reserve releases of $324MM were largely offset by an increase in reserves across the wholesale businesses of $252MM driven by select downgrades, including Oil & Gas.
$GOOG’s Waymo accuses Uber of stealing its intellectual property. Startup Otto, which was recently acquired by Uber, also named in the lawsuit. Stage set for another dramatic legal battle!
We all knew $VALE CEO Murilo Ferreira was going out soon, but now I hear he has no idea who will succeed him!
$JCP, another traditional retailer that just shocked us with its biggest number of store closures.