JPMorgan Chase chief executive Jamie Dimon said that he has been diagnosed with throat cancer but that the ailment is curable and he plans to remain actively involved in the business and continue to run the largest U.S. bank.
In a memo to the bank’s employees and shareholders Tuesday, Dimon said the cancer was caught at an early stage and is confined to the original site and the adjacent lymph nodes on the right side of his neck.
Dimon, 58, said he plans to remain on the job and be actively involved in key decisions while undergoing radiation and chemotherapy treatment.
The eight-week treatment will begin soon at Memorial Sloan Kettering Hospital in New York.
“I feel very good now and will let all of you know if my health situation changes,” Dimon said.
A chemical explosion Tuesday at a General Motors metal-stamping plant in Indiana killed a contractor and injured several people, authorities said.
The blast killed James L. Gibson, 48, Grant County Coroner Stephen Dorsey said.
Marion General Hospital was treating five other people with non-life-threatening injuries, hospital spokeswoman Ann Vermilion told the Marion Chronicle-Tribune.
“The situation is contained. Everybody has been evacuated,” GM spokeswoman Stephanie Jentgen said in an interview.
The explosion involved a chlorine dioxide tank, and the chemical continued spilling out after the explosion, Marion Fire Chief Paul David said.
A hazardous-materials crew contained the spill, and firefighters were rinsing off the
skin of everyone who may have come into contact with the chemical.
— Associated Press
● U.S. auto sales grew at a slower pace in June. GM, Toyota, Hyundai and Nissan all saw increases over June 2013. Sales at Honda were flat, while sales at Ford and Volkswagen were down. The car-buying Web site TrueCar expected U.S. sales to rise 1 percent over last June to 1.4 million cars and trucks. That was lower than May, when sales were helped by the Memorial Day holiday, which got June off to a slow start.
● HSBC Holdings agreed to pay $10 million to settle U.S. government charges that it defrauded taxpayers by submitting inflated bills to process residential foreclosures. The civil settlement is the first to result from an investigation by U.S. Attorney Preet Bharara in Manhattan into whether mortgage servicers overcharged the government on foreclosures on federally backed home loans.
● The Dow Jones industrial average closed in on 17,000 points for the first time. The Dow rose 129.47 points, or 0.8 percent, to end at 16,956.07 on Tuesday. It came within two points of 17,000. The Standard & Poor’s 500-stock index rose 13.09, or 0.7 percent, to 1,973.32. The Nasdaq gained 50.47, or 1.1 percent, to 4,458.65.
● Graco Children’s Products is recalling 1.9 million infant car seats, bowing to demands from U.S. safety regulators. The recall comes after a five-month spat between Graco and the National Highway Traffic Safety Administration. Earlier this year, the company recalled 4.2 million toddler seats because the harness buckles can get stuck. But it resisted the agency’s demand to recall the infant seats. Infant-seat models covered by the recall include the SnugRide, SnugRide Classic Connect, SnugRide 30, SnugRide 35, SnugRide Click Connect 40, and Aprica A30.
● Twitter named Anthony Noto as chief financial officer, putting the former Goldman Sachs executive, who led the messaging service’s successful November IPO, in charge of finances. The previous CFO, Mike Gupta, was named senior vice president of strategic investments.
— From news services
● 8:15 a.m.: ADP employment report.
● 10 a.m.: Factory orders for May.