FINANCE
• Chase CEO Jamie Dimon has some big plans at Davos this year: "Number one on my list is world peace." [MarketBeat/WSJ, DealBook/NYT]
• Looks like Steve Schwarzman is green only with greed — his newest moneymaking scheme hinges on building huge coal plants in pristine locales in the American West. [Fortune]
• Société Générale, the second biggest bank in France, found that one of its "plain vanilla" traders had taken "massive fraudulent directional positions…far beyond his limited authority" that would ultimately end up costing the bank $7 billion. It is, according to the Times, "an exceptional fraud." Seriously! Quelle balls! [NYT]

MEDIA
• "If you want to know what Rupert Murdoch really thinks you should read the editorials in the Sun and the New York Post," Andrew Neil, former editor of Rupert Murdoch's London–based Sunday Times, told Britain's Post-Gazette. "There's no major political position the Sun will take…without Rupert Murdoch's major input." Another source says Murdoch is now so preoccupied with the Journal he's gotten "bored with Britain." [Law Blog/WSJ]
• One former Cadwalader associate complains after the firm's big layoffs: “I thought it was a little bit insulting that these law firms come out with these announcements about increasing salaries and paying special bonuses.… I didn’t expect the layoffs to happen because I thought to myself, ‘They wouldn’t play with the big boys if they couldn’t do it.’” [NYO]

FASHION
• It's a makeup shake-up! L'Oréal's buying YSL Beauté for $1.68 billion. [WWD]
• Narciso Rodriguez has pulled the menswear looks from his upcoming collection. [Fashion Week Daily]
• Lauren Conrad's having her own fashion show. Yes, really. Unlike The Hills, this is not made up. [Fashionista]