NPR News

$15 million.

That's how much President Obama campaign will receive from a fund-raising event last night at George Clooney's home. The New York Times reports the A-list, Hollywood crowd paid $40,000 a person, helping to set "a record for a presidential election fund-raiser."

The Times adds:

What just happened?

JPMorgan Chase, the biggest bank in America, announced that it lost $2 billion on a massive trade placed out of its London office.

What was the trade?

In what could mark a watershed in the fight against HIV/AIDS, a panel of experts recommended that the Food and Drug Administration give a green light to a pill that can cut the risk of infections.

The daily pill, Truvada, made by Gilead Sciences, combines two medicines that inhibit the reproduction of HIV. It's already approved as a treatment for HIV, but its use could soon expand to include protection of uninfected people.

"It was a bad strategy. It was badly executed."

The words of JPMorgan Chase's CEO, Jamie Dimon, as he admitted late yesterday that the investment bank — or, more precisely, a single "rogue trader" working for the bank, had lost some $2 billion in the last six weeks in risky hedge-fund trades.

The news has sent chills through the markets. Shares of JPMorgan Chase, the largest U.S. bank, lost 7 percent in after-hours trading and British bank Barclays lost 2.9 percent, while more than 2 percent was shaved from Royal Bank of Scotland.

Mortgage broker Freddie Mac named Donald Layton as its new chief executive officer. Layton worked for JPMorgan Chase for nearly 30 years before retiring in 2004.

Charles Baird will be alone on the island for one year. He'll able to send short text messages, but won't be receiving any. By freeing himself from all media, he expects to have enough time to make a documentary about himself.

JetBlue Airways apologized after removing a passenger from her flight because she was on a no-fly list. The passenger looks innocent enough — maybe because she's 18 months old. Her mother told WPBF-TV in Florida that the idea her daughter is a threat was "absurd" and "made no sense."

California is set to impose the nation's first statewide ban on foie gras this summer. Nearly eight years have passed since the bill enacting the ban was signed.

J.P. Morgan Chase reported $2 billion in losses over the last six weeks, and said there may be more to come. In a news conference shortly after the market closed Thursday, CEO Jamie Dimon said the losses stemmed from a credit default swap that was "poorly executed and poorly monitored."