Carl Levin

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• JPMorgan Bet Against Itself in 'Whale' Trade

  

  There is a new twist in the London Whale trading scandal that cost JPMorgan Chase $6.2 billion in trading losses last year. Some of the firm's own traders bet against the very derivatives positions placed by its chief investment office, said three people familiar with the matter.

• US Senate crusader seeks allies in war against corporate tax loopholes

  WASHINGTON, Jan 29- Senator Carl Levin for years tried to close U.S. corporate tax loopholes but failed to persuade many fellow Democrats. His panel, which has oversight over government operations, has no power to enact tax law, and neither tax-writers nor Senate leadership have taken up his cause.

• EXCLUSIVE-JPMorgan bet against itself in 'Whale' trade

  NEW YORK, Jan 29- There is a new twist in the London Whale trading scandal that cost JPMorgan Chase $6.2 billion in trading losses last year. The people familiar with the situation did not comment on the dollar value of the opposing trades placed by JPMorgan Chase& Co's investment bank traders, which was much smaller than the total positions put on by the CIO.

• Tom Harkin of Iowa Won’t Seek Re-election to Senate

  

  Senator Tom Harkin, the Democrat from Iowa who championed landmark legislation banning discrimination against people with disabilities, said Saturday that he would retire and not seek re-election next year.

• Senate Leaders in Deal to (Sort of) Muzzle Filibusters

  

  The Senate's senior Democrat and Republican reached a tentative agreement to impose modest limits on the filibuster, the delaying tactic that minority parties have long used to kill legislation and was immortalized in the film "Mr. Smith Goes to Washington."

• FACTBOX-Proposed new Iran sanctions in U.S. defense bill

  Dec 19- A final version of new U.S. economic sanctions against Iran would give the Obama administration more time to implement measures aimed at its energy, shipping and port sectors, but otherwise was little changed from an initial draft released last month.

• Bill authorizing 2013 U.S. defense spending edges toward completion

  *Pentagon would have base budget of $527.5 billion. WASHINGTON, Dec 18- U.S. lawmakers merged the competing House and Senate versions of the annual defense policy bill on Tuesday, approving a measure that authorizes $633.3 billion in defense spending for 2013, expands U.S. sanctions on Iran and strikes restrictions on biofuel use.

• U.S. 'cliff' talks boost big business hopes for tax change

  WASHINGTON, Dec 18- U.S.-based global companies may get a boost in their effort to revamp corporate taxation if the White House and Republican lawmakers can negotiate a deal to avoid the year-end "fiscal cliff."

• UPDATE 2-JPMorgan copper ETF, first in US, gets green light

  Dec 17- U.S. regulators have finally approved JPMorgan Chase& Co's controversial plan to launch a copper exchange-traded fund backed by actual stockpiles of the metal, dealing a blow to end users who fear the product will wreak havoc on prices.

• UPDATE 1-U.S. SEC approves JPMorgan's plan for copper ETF

  Dec 17- The U.S. Securities and Exchange Commission has approved JPMorgan Chase& Co's controversial plan to launch an exchange-traded fund physically backed by copper, it said on Monday. Senator Carl Levin, a Democrat from Michigan, also voiced his opposition to the plan.

• HSBC - How Simple Became Complicated, and costly

  LONDON, Dec 12- HSBC takes its name from its roots as the Hongkong and Shanghai Banking Corporation, but there has long been a joke inside and outside the firm that the name stands for "How Simple Became Complicated".

• U.S. Chamber calls for trade officials to review Volcker rule

  Dec 11- The U.S. Chamber of Commerce is asking federal officials to consider whether a proposed proprietary trading ban undermines U.S. trade policy, part of an ongoing effort by industry groups to push back against the so-called Volcker rule.

• Michigan protests unlikely to stop 'right-to-work' laws

  *Michigan more important to unions than Wisconsin. LANSING, Mich., Dec 10- Republicans are likely to approve contentious "right-to-work" measures in the union stronghold of Michigan on Tuesday despite thousands of people converging on the state capital to protest proposed laws they say would lower wages and hurt workers.

• UPDATE 2-Turkey to keep buying Iran's gas despite sanctions

  *Turkey takes 90 pct of Iran's natural gas exports. ISTANBUL, Dec 3- Turkey will continue to buy natural gas from Iran despite the prospect of tighter U.S. sanctions, Turkish Prime Minister Tayyip Erdogan said, indicating the measures are not likely to have much impact on the countries' gold-for-gas trade.

• UPDATE 3-US Senate approves new sanctions for Iran energy, shipping

  *Aims to close Turkey- Iran' gold for gas' loophole. WASHINGTON, Nov 30- The U.S. Senate resoundingly approved on Friday expanded sanctions on global trade with Iran's energy and shipping sectors, its latest effort to ratchet up economic pressure on Tehran over its nuclear program.

• UPDATE 1-US Senate approves new sanctions for Iran energy, shipping

  *Aims to close Turkey- Iran' gold for gas' loophole. WASHINGTON, Nov 30- The U.S. Senate on Friday resoundingly approved new sanctions on trade with Iran's energy, port, shipping and ship-building sectors, its latest effort to ratchet up economic pressure on Tehran over its nuclear program.

• UPDATE 2-US Senate approves new sanctions for Iran energy, shipping

  *Aims to close Turkey- Iran' gold for gas' loophole. WASHINGTON, Nov 30- The U.S. Senate on Friday resoundingly approved new sanctions on trade with Iran's energy, port, shipping and ship-building sectors, its latest effort to ratchet up economic pressure on Tehran over its nuclear program.

• Two U.S. senators push regulators to finish Volcker rule

  WASHINGTON, Oct 25- Two influential U.S. senators on Thursday urged regulators to resolve any differences and finish writing a controversial ban on proprietary trading known as the Volcker rule.

• Sen. Levin calls for SEC to revisit JOBS Act rule

  Democratic Senator Carl Levin said in a comment letter to the SEC dated Friday the rule needed to do more to shield investors from deceptive advertising, inappropriate or unfair sales tactics, and investment fraud. The rule, proposed by the SEC in August and mandated by the JOBS Act, was signed into law by President Barack Obama in April.