JAMIE DIMON SURRENDERS TITLE AS CHAIRMAN OF JPMORGAN CHASE
new york Jamie Dimon has relinquished his chairmanship of JPMorgan Chase’s main operating bank, according to public records and people familiar with the situation.
He shed the title July 1, one of these people said. In a document made public Thursday, Dimon is listed as chairman emeritus of J.P. Morgan Chase, the deposit-taking subsidiary that operates branches in 23 U.S. states as well as several other countries.
The new chairman of the subsidiary is former Johnson & Johnson chairman and chief executiveWilliamWeldon.
Low-cost uberX soft-launched.
About three weeks after Lyft’s ridesharing service hit town, Uber announced Friday that its low-cost offering, called uberX, has softlaunched in Denver.
UberX drivers use their own vehicles, and the minimum fare is $6. Uber’s Black service features rides from limousine companies, with a minimum fare of $15.
Venture funding raises $184 million in third quarter.
Thirty-nine Colorado companies raised $184 million in the third quarter, according to a report released Thursday by Built in Colorado.
Denver-based Ping Identity scored the largest round with $44 million.
Musk defends Tesla car.
TeslaMotors chief executive Elon Musk said extraordinary circumstances caused a battery-pack fire in aModel S involved in an accident Tuesday but that the car performed as itwas designed.
A curved piece of metal that appeared to fall off a semi-truck flew up into the metal plate protecting the battery pack in theModel S electric car and punched a 3-inch-wide hole through the quarter-inch metal plate, he wrote in a blog post on Tesla’s website Friday.
“The geometry of the object caused a powerful lever action as it went under the car, punching upward and impaling theModel S with a peak force on the order of 25 tons,” he wrote.
Hobbit trilogy production exceeds $500 million
wellington, new zealand » Making the movie trilogy “The Hobbit” has cost more than half a billion dollars so far, double the amount spent on the three movies in the “Lord of the Rings” series.
That figure includes the major 266 days of filming with actors that was completed last year, although it doesn’t include an additional two months or so of shoots done this year. There will likely also be additional post-production costs as the next two movies are completed.
Through March 31, production had cost $561 million at current exchange rates, according to financial documents filed Friday in New Zealand, where the movies are being made.
Hobby Lobby adds Hanukkah items B »
oklahoma city Arts-and -crafts chain Hobby Lobby will carry Jewish merchandise in some stores after a New Jersey blogger complained about a lack of Hanukkah items, the company’s president said Friday.
Steve Green told The Associated Press that the Oklahoma City-based chain is looking at carrying items this holiday season in stores near areas with large Jewish populations. He could not yet say what the items will be.