This is what’s in the news for Thursday May 17, 2012. The Wall Street Journal reports following the losses at J.P. Morgan Chase (NYSE:JPM), the White House is seeking to ensure a tough interpretation of a regulation designed to prevent banks from making bets with their own money. The Wall Street Journal also reports Verizon Wireless (NYSE:VZ) will move to end unlimited data plans, and will no longer allow customers to keep those plans when they upgrade to its 4G LTE high-speed mobile network. Reuters reports investors who want Facebook (FB) shares may have lost the opportunity as several firms including TD Ameritrade (NYSE:AMTD), Fidelity’s brokerage arm, Morgan Stanley (NYSE:MS), E*Trade Financial (NASDAQ:ETFC) and Wells Fargo (NYSE:WFC) Advisors stopped accepting orders Tuesday evening. Reuters also reports Sprint Nextel (NYSE:S) thinks U.S. regulators are open to major telecom deals despite opposition to the AT&T (NYSE:T) deal, but Sprint will try to avoid doing a large deal until 2014, says CEO Dan Hesse. Finally, Bloomberg also reports gold demand in China may jump about 30% this year as rising incomes increase consumption, helping the country pass India as the world’s largest bullion market on an annual basis, according to the World Gold Council.
