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By Antony Currie
The JPMorgan boss reckons the CIO trading debacle is behind him. Explanations and fixes from Dimon and his deputies are solid. But it’s still unclear if they’ll pay a price. And newly revealed bad risk data and mismarked trades mean JPMorgan still has a lot of trust to win back.

Replacing P&G; boss may be Bill Ackman's best hope

By Robert Cyran
The uppity investor’s latest target is the Pampers-to-Crest giant. But traditional activist tactics like a breakup won’t work at the $178 bln company. New leadership might help get P&G; back on track. Maybe Ackman could even recruit vaunted former CEO A.G. Lafley to help.

Beware “blame China” earnings phenomenon

By John Foley
Investors have punished Burberry, Cummins and AMD for disappointing China growth. When it comes to handbags and excavators, China really does set the pace. But investors need to be alert this earnings season: a slowdown in the world’s growth engine gives everyone an excuse.

Global warming adds to food inflation risk

By Ian Campbell
Corn prices spike after the hottest U.S. six months ever. Russian wheat is also afflicted. Does global warming threaten a food price shock? For now, the risk is mitigated by a big commodity price retreat from 2011’s speculative bubble. But in the long term, the threat is serious.

Fender stock buyers will gently weep

By Jeffrey Goldfarb
The iconic maker of guitars favored by Clapton and Hendrix is riffing on an IPO valuation of 20 times earnings. But Fender has questionable global expansion plans, depends on a big shaky customer and generates only pick-thin margins. There’s too much to make investors fret.

Valentino makes Permira look not shabby nor chic

By Neil Unmack
Permira’s top-of-the-market acquisition of Hugo Boss and Valentino in 2007 looked like extravagant folly. Five years on, the buyout firm has sold Valentino to the Qatar royal family for a punchy price. That leaves its fashion binge looking respectable, if not glamorous.

Wells Fargo's mortgage strength is U.S. weakness

By Agnes Crane
The San Francisco-based bank accounts for a third of the country’s new home loans and is the largest servicer, too. That’s great for Wells’ bottom line. But such a dominant market share, if sustained, could be bad news for consumers and taxpayers. Rivals need to up their game.
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