Company News: Facebook, JPMorgan Chase, Wal-Mart

Facebook unveiled a search tool for its social network of more than 1 billion users, creating a rival feature to those available on Google, LinkedIn, and Yelp. Facebook’s Graph Search lets users look for people, photos, interests, and places that have been shared on the network. It’s being rolled out in test mode to a limited number of members. Queries, such as “Friends in New York who like Jay-Z,” will return answers shaped by the content and preferences specified by the searcher’s community on the social network. When Facebook cannot deliver a clear answer to a user’s query, it will return results from Microsoft’s Bing search engine.

After an eight-month review of the $6.2 billion in losses caused by U.K. trader Bruno Iksil, nicknamed the London Whale because of his big derivatives bets, the board of JPMorgan Chase will cut Chief Executive Officer Jamie Dimon’s pay in half. Dimon’s compensation for 2012 is still $11.5 million, compared with $23 million a year earlier. “Mr. Dimon bears ultimate responsibility for the failures that led to the losses … and has accepted responsibility,” the company said on Jan. 16.