Latest Information:
The Two-Way
6:25 am
Thu September 15, 2011

Swiss Bank UBS Says Rogue Trader Caused $2 Billion Loss

Oli Scarff Getty Images

"Unauthorized trading" by one of its traders has led to a loss "in the range of $2 billion," Swiss banking giant UBS announced this morning.

He reportedly worked in the bank's London equities division, Larry Miller reports for NPR, and was arrested by authorities there early today "on suspicion of using his position to commit fraud."

According to UBS, none of its clients were affected by the loss.

Read more

NPR correspondent Chris Arnold is based in Boston. His reports are heard regularly on NPR's award-winning newsmagazines Morning Edition, All Things Considered and Weekend Edition. He joined NPR in 1996, and was based in San Francisco before moving to Boston in 2001.

Tom Bowman is a NPR National Desk reporter covering the Pentagon.

In his current role, Bowman has traveled to Iraq and Afghanistan often for month-long visits and embedded with U.S. Marines and soldiers.

Before coming to NPR in April 2006, Bowman spent nine years as a Pentagon reporter at The Baltimore Sun. Altogether he was at The Sun for nearly two decades, covering the Maryland Statehouse, the U.S. Congress, the U.S. Naval Academy, and the National Security Agency (NSA). His coverage of racial and gender discrimination at NSA led to a Pentagon investigation in 1994.

World
2:26 am
Thu September 15, 2011

China Tells Others To Put Financial House In Order

Chinese Premier Wen Jiabao delivers an opening speech Wednesday at the World Economic Forum's Annual Meeting of the New Champions in Dalian, in northeast China. Wen said developed countries must "first put their own house in order" before they can expect China to help other struggling economies.
Andy Wong AP

Originally published on Wed September 14, 2011 11:01 pm

As gloom mounts over Europe's debt crisis, some are looking to China to play a leading role in stabilizing the shaky world economy.

But China made clear its reluctance to take on the role of the global economic savior as it hosted the World Economic Forum's Annual Meeting of the New Champions.

Polite applause greeted Premier Wen Jiabao as he stepped onto the stage Wednesday in the northeastern Chinese city Dalian, but his words depressed markets in Europe, a sign of the shift in the center of financial gravity.

Read more
Asia
11:01 pm
Wed September 14, 2011

For Afghan Female Pilot, A Long, Turbulent Journey

Col. Latifa Nabizada, the only female pilot in Afghanistan, flies her helicopter to some of the most dangerous parts of the country. Her 5-year-old daughter Malalai is often with her in the cockpit.
Jonathan Levinson for NPR

Col. Latifa Nabizada, the only female pilot in the history of Afghan aviation, travels to some of the most remote and dangerous corners of her country with a devoted partner next to her in the cockpit – her 5-year-old daughter Malalai.

They walk hand-in-hand as they head into the hangar at Kabul's Military Airport, and then board a chopper. They have flown together on more than 300 missions over the past few years, and Col. Nabizada acknowledges the risks of having her daughter on board.

But she says she has no choice. The air force has no child care facility.

Read more
Economy
11:01 pm
Wed September 14, 2011

Mortgage Savings: Leaders Seek Refinancing Options

In his jobs speech last week, President Obama also took time to say he wants to help more Americans save money on their mortgages.

"To help responsible homeowners, we're going to work with federal housing agencies to help more people refinance their mortgages at interest rates that are now near 4 percent," he said to applause from lawmakers on both sides of the aisle.

Read more
National Security
11:01 pm
Wed September 14, 2011

For A Marine Hero, A Medal Of Honor

Marine Dakota Meyer poses during his deployment in Kunar province, Afghanistan. President Obama is awarding him the Medal of Honor on Thursday, making him the first living Marine to receive the honor since the Vietnam War.
Anonymous AP

Shortly after dawn on a September morning in 2009, American and Afghan troops set out on patrol along a rocky mile-long stretch in eastern Afghanistan. They were heading to a small village for a routine meeting with tribal elders.

Suddenly, everything went wrong.

Cpl. Dakota Meyer and Staff Sgt. Juan Rodriguez-Chavez, who had stayed behind with the vehicles, heard small arms fire in the distance and knew instantly it was an ambush. Rodriguez-Chavez then heard an officer yelling for help on the radio.

Read more
Around the Nation
11:01 pm
Wed September 14, 2011

For Joplin's Children, Tornado's Effects Persist

A child's room is seen in a destroyed home after the tornado passed through Joplin on May 26. The city's residents are still coping with losses from the storm, which damaged or destroyed an estimated 8,000 structures.
Mario Tama Getty Images

The tornado that hit Joplin, Mo., in May destroyed a third of the town and killed 162 people. While the storm lasted just minutes, the psychological damage continues, and the community is mobilizing to cope with continuing trauma. The city's children are dealing with both the unsettling effects of the tornado and what the loss, disruption and heartache is doing to their parents.

Read more
Economy
11:01 pm
Wed September 14, 2011

Making It In The U.S.: More Than Just Hard Work

Dametra Williams (right) says she thinks her daughter, Yvonne, 18, (left) is going into the world with the head start she never had.
Pam Fessler NPR

First of a two-part report.

Here's a startling figure: The typical white family has 20 times the wealth of the median black family. That's the largest gap in 25 years. The recession widened the racial wealth gap, but experts say it's also due to deeply ingrained differences in things such as inheritance, home ownership, taxes and even expectations.

Read more
The Two-Way
5:50 pm
Wed September 14, 2011

Sheriff: White House Gatecrasher, Michaele Salahi, Not Kidnapped

You'd be excused if you didn't lose sleep over the news that made its way across the blogosphere overnight: Tareq Salahi, who is better known as the husband in the duo who snuck into a White House state dinner last year, called the cops and the media to say his wife Michaele was kidnapped.

Read more

Pages