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By KEN SWEET

NEW YORK (AP) — For nearly three years, JPMorgan Chase has picking up the legal tab of Charlie Javice and Olivier Amar, the two convicted fraudsters who sold their financial aid startup Frank to the bank.

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But the two have racked up an astronomical, nine-figure legal bill that far exceeds any reasonable amount the two may have needed for their defense, the bank said in a court filing late Friday. Chase shouldn’t have to pay and its agreement as part of the startup purchase to shoulder the costs should end, the bank argued.

According to the filing, Javice’s team of lawyers across five law firms have billed JPMorgan approximately $60.1 million in legal fees and expenses, while Amar’s lawyers have billed the bank roughly $55.2 million in fees. read more

By DEE-ANN DURBIN and CHRIS RUGABER, AP Business Writers

It’s getting more expensive for Americans to get their caffeine fix.

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The average U.S. price of a pound of ground coffee hit $9.14 in September, a 3% increase from the August average of $8.87 and 41% higher than in September 2024, according to U.S. government figures. Coffee prices have been increasing sharply since the start of this year.

Consumer prices for food purchased for home use and away from home were 3% in September compared to the same month a year earlier, the U.S. Labor Department reported Friday. The consumer price index, which measures a broader sample of all coffee products, including instant coffee, showed U.S. coffee prices up 19% from September 2024 and flat compared to August. read more

By CHRISTOPHER RUGABER, AP Economics Writer

WASHINGTON (AP) — The government shutdown now in its fourth week likely means there won’t be an inflation report next month for the first time in more than seven decades, the White House said Friday, leaving Wall Street and the Federal Reserve without crucial information about consumer prices.

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“Because surveyors cannot deploy to the field, the White House has learned there will likely NOT be an inflation release next month for the first time in history,” the Trump administration said in an email. read more

By JOSH FUNK, AP Transportation Writer

The ongoing government shutdown continues to disrupt flights at times and put pressure on air traffic controllers who are working without pay.

Flights were delayed Thursday at New York’s LaGuardia Airport, New Jersey’s Newark airport and Washington’s Reagan National Airport because of air traffic controller shortages. The number of flight delays for any reason nationwide spiked to 6,158 Thursday after hovering around 4,000 a day earlier in the week, according to FlightAware.com. On Friday afternoon, the Houston airport was also reporting average delays of about half an hour because of staffing issues, and the Federal Aviation Administration warned that problems were possible at airports in the New York area, Dallas and Phoenix.

Many Federal Aviation Administration facilities are so critically short on controllers that just a few absences can cause disruptions, and Transportation Secretary Sean Duffy has said that more air traffic controllers have been calling in sick since the shutdown began. Early on in the shutdown, there were a number of disruptions at airports across the country, but for the past couple of weeks, there haven’t been as many problems. read more

By SAM McNEIL, Associated Press

BRUSSELS (AP) — The European Union on Friday said Meta and TitTok had breached their transparency obligations after an investigation that could result in billions of dollars in fines.

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  JPMorgan Chase wants out of paying $115M legal tab for convicted fraudsters

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The inquiry found both companies had violated the Digital Services Act, the EU’s trailblazing digital rule book that imposes a set of strict requirements designed to keep internet users safe online, including making it easier to report counterfeit or unsafe goods or flag harmful or illegal content like hate speech, as well as a ban on ads targeted at children. read more