And the biggest bank in the U.S., JPMorgan Chase, says it has lost $4.4 billion from its failed hedging strategy involving a secretive trader. That's more than twice the bank's earlier estimate. The company released its second-quarter earnings report this morning, and NPR's Jim Zarroli is with us now to talk about them. Jim, what is the company telling investors this morning about that money?
Some future news now. The Olympics begin two weeks from today in London, and we can already tell you the likely big winners. China will take the most gold medals, followed by the U.S. and host country, Great Britain. Team USA will win the most overall medals, followed by China and Russia.
And today's last word in business comes from the Central Asian country of Uzbekistan, which by the way, won six medals in the last Olympics. But today's last word is about another kind of competition, this one between social networking sites. And the word is: YouFace. That's the name of a new social networking site that aims to lure local Internet users away from Facebook, and, quote, "boost patriotism among young people in Uzbekistan."
Freddie Wood stands at the counter of the Wood & Swink general store in Evinston, Fla.
The Wood & Swink general store sits near the crossroads of two county roads. Wilma Sue Wood, who was Evinston's postmaster for 32 years, says the town's 150 or so residents visit to hear news: "Who's had a baby; who's died."
The store also sells produce from the Woods' farm.
Evinston's post office is on a U.S. Postal Service list of rural facilities facing cuts in their operating hours.
"The post office and the store, I just love it," Wood says. He spends most of his afternoons sitting in a rocking chair in the middle of the store.
Freddie Wood stands at the counter of the Wood & Swink general store in Evinston, Fla. The store, founded in the late 1800s, houses the oldest post office in Florida.
Freddie Wood and Wilma Sue Wood, the former postmaster in Evinston, Fla. Wilma Sue says people visit the post office to learn "who's had a baby; who's died."
This month, the U.S. Postal Service begins cutting back hours and services at rural post offices across the country. One store facing changes sits inside the Wood & Swink general store in the northern Florida town of Evinston. The store has been in Freddie Wood's family for more than 100 years. In that time, it's gone through only small changes.