Jpm Q2 woe

JPMorgan Chase may report a $4.2 billion second-quarter trading loss in its chief investment office, an estimate from International Strategy & Investment said.

UK not OK

Egan-Jones Ratings yesterday cut the UK’s sovereign rating to AA- from AA, noting that the county’s situation is worse than it looks.

Phil’s win

A bankruptcy judge approved a request by Phil Falcone’s LightSquared to restrict trading in its stock in order to preserve its estimated $1.5 billion in net operating losses. These losses can be deployed for tax benefits, but a change in ownership can disrupt a company’s ability to use them.

Disconnected

Verizon Communications is offering buyouts to 1,700 workers, mainly call-center employees and technicians, as it continues to shrink its wireline business.

iKing

According to a survey by ABI Research, the Apple iPad extended its lead in the global market for tablet computers at the start of 2012. Samsung grabbed the No. 2 spot with 6 percent of the market, overtaking Amazon.