JPMorgan announced that profits fell 52% due to write-downs, slightly less than the Street expected. [Bloomberg]
Merrill Lynch has scrapped the idea of relocating its headquarters to an office tower in the new World Trade Center. [NYT]
Continental reported a second-quarter loss amid surging fuel costs. [WSJ]
Microsoft and Yahoo aren't terribly eager to take AOL off Time Warner's hands. [NYT]
Larry Fink-led BlackRock said its profits rose 23% over the same quarter last year and confirmed Merrill will retain its 49% stake in the company. [DealBook]
Henry Kravis will be thrilled: Union protestors are expected outside the offices of KKR today. [Dealbreaker]
