Bitcoin, the virtual money that exists only in digital form, is spawning a real-world hardware boom. The currency, used to buy and sell everything from electronics to illegal drugs on the Web, has surged to about $135, more than 10 times its value a year ago.
U.S. stocks rose, sending the Standard & Poor’s 500 Index toward a five-year high, as China’s exports beat estimates and European Central Bank President Mario Draghi sees an economic rebound later in 2013.
Wall Street banks’ equities-trading units aren’t getting much relief from the strongest stock rally since 2009, as sinking volume and already thin margins threaten to make their annual performance the worst in six years.
The three directors who oversee risk at JPMorgan Chase & Co. include a museum head who sat on American International Group Inc.’s governance committee in 2008, the grandson of a billionaire and the chief executive officer of a company that makes flight controls and work boots.