Often updated major headlines and interesting news for the world of business, financial markets, and other global economic & financial news.
A report released on March 7 by the Labor Department showed that job cuts continued in February for the second straight month.
Housing statistics for the state of California were released by the California Association of Realtors (CAR).
Bear Stearns announced an extra 800 cut in its mortgage employees. The overall number of redundancies has risen to 1,400 – 10% of previous year’s head count.
Despite the rumours yesterday that Deutsche Bank was going to report a massive loss, the bank came out this morning with a surprisingly good set of numbers.
The world’s biggest automaker blames rising costs for the 4th quarter’s loss. How many more to come?
Credit Suisse Group, Switzerland’s second biggest bank, announced that fourth quarter profit fell as much as 72%.
Alliance & Leicester stock was down another 5% today. It has fallen a total of 16% in just one week’s time!
Societe Generale, France’s second largest bank by market value, uncovers a 4.9 billion euros ($7.1 billion) trading fraud.
Interesting piece of news… a Merrill Lynch trader, surely after taking a deep breath, thought if-not-now-then-when and sent out a mass email screaming out…the obvious!
Citigroup will reduced workforce by 17,000 to 24,000 employees, and it will take writedown of up to $24 billion, CNBC says.
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