Huge Lay-Offs Plague Western Banks ? Are Middle East Banks Next?
Although they?ve largely avoided enormous layoffs, there?s no reason for Middle Eastern banks to rest on their laurels, says The Islamic Globe.
Wall Street closes worst week since '08 with wild day
Stocks closed out their worst week in more than two years on Friday in a volatile session that saw the major indexes whip back and forth before the S&P 500 ended down less than a point.
Wall Street retreats again in wildly volatile day
Stocks slipped back into the red late on Friday after fluctuating between big gains and losses in a wildly volatile session with trading volume in equities and options on track to set another record.
Wall Street Rebounds After Sell-Off, Berlusconi Budget Announcement
U.S. stocks rose in volatile trade on Friday as investors saw a buying opportunity following the sharp sell-off that took the S&P 500 down 10 percent over the last 10 sessions.
Sell-off wipes $2.5 trillion off world stocks this week
More than $2.5 trillion have been wiped off the value of world stocks this week on mounting concerns the global economy is heading toward another recession and Italy and Spain are being engulfed by the euro zone sovereign debt crisis.
Wall St flat as data fails to ease economic fears
U.S. stocks seesawed, trading little changed on Friday as a better-than-expected payrolls report did little to alleviate fears of a double-dip recession.
Barclays to Cut At Least 1,400 Jobs As Profits Plunge By One-Third
he British-based bank may slash at least 1,400 more jobs in 2011, after already having eliminated another 1,400 positions this year
Layoffs in Global Banking Industry Response to Tough New Conditions
Banks around the world are likely to keep slashing jobs in order to compete better in what is a cut-throat global business.
Deal reached to end debt crisis
President Barack Obama said on Sunday that Democrat and Republican leaders had reached an agreement to reduce the U.S. deficit and avoid default, but it was not clear if the spending cuts were deep enough to stave off a credit rating downgrade. The White House said the compromise would cut about $2.5 trillion from the deficit over the next 10 years but the reductions would not happen so quickly that they would drag on the fragile U.S. economy.
Credit Suisse Cuts 2,000 Jobs as Poor Trading Hurts Results
Swiss bank Credit Suisse is cutting about 2,000 jobs after a second quarter hit by weak trading activity and the strong Swiss franc.
HSBC May Slash 10,000 Jobs: Report
Gulliver had warned that Europe?s largest bank ?clearly [has] a cost problem."
Credit Suisse cuts 2,000 jobs as poor trading hurts results
Swiss bank Credit Suisse is cutting about 2,000 jobs after weak trading activity and the strong Swiss franc hit second-quarter results.
HSBC may cut more than 10,000 jobs: report
Banking group HSBC Holdings Plc may cut more than 10,000 jobs as part of its plan to slash costs by up to $3.5 billion a year, Sky News reported Thursday.
Japan Mulling FX Intervention
Japanese authorities know there is not much they can do to turn a broad weak-dollar tide so will judge any intervention a success if it keeps speculative action from driving up the yen too far and too fast.
Analysis: Pricing hit unlikely to deter Netflix growth
Netflix Inc's star darkened briefly this week after a rare stumble on pricing incensed investors and triggered an unusually dim growth projection.
Futures Down as Debt Stalemate Curbs Risk Appetite
Stocks were slightly lower on Wednesday as concerns over a possible debt default by the United States continued to weigh on investor sentiment.
Analysis: Pricing hit unlikely to deter Netflix growth
Netflix Inc's star darkened briefly this week after a rare stumble on pricing incensed investors and triggered an unusually dim growth projection.
Wall Street raises targets, but Netflix shares dive
Shares of top video rental company Netflix Inc fell more than 9 percent on Tuesday, a day after the Wall Street darling shocked investors by projecting a pause in its normally explosive subscriber growth.
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Supervalu profit tops Street view, shares jump
Supervalu Inc's (SVU.N) quarterly profit topped Wall Streets expectations despite sagging sales as the third-biggest U.S. supermarket chain trimmed expenses in a drive to catch up to rivals.
Wall Street Raises Targets, But Netflix Shares Dive
Shares of top video rental company Netflix Inc fell more than 9 percent on Tuesday, a day after the Wall Street darling shocked investors by projecting a pause in its normally explosive subscriber growth.
Swiss Banks Planning Mass Layoffs to Cut Costs
Swiss banking giant Credit Suisse may slash up to 2,000 jobs to reduce costs, according to a Swiss newspaper.
Credit Suisse May Cut Up to 2,000 Jobs: Report
Credit Suisse will likely announce cost savings measures including a cut of 1,500-2,000 jobs, a Swiss paper reported on Tuesday, without naming any sources.
China's Sinohydro plans more than $2.5 bln Shanghai IPO
China's Sinohydro Group Ltd, the builder of the Three Gorges dam, plans to raise more than $2.5 billion in what could be mainland China's biggest initial public offering this year.
Japan repeats warning on yen rise as calls for action grow
Japanese Finance Minister Yoshihiko Noda kept up his warning to markets against pushing up the yen too much, saying that he was aware of demands from the business sector for authorities to act against yen rises that hurt the export-reliant economy.
Express Scripts to Buy Medco Health For $29B, Shares Up
Express Scripts, Inc. (NASDAQ:ESRX) said it agreed to buy Medco Health Solutions, Inc. (NYSE:MHS) for $29.1 billion cash and stock deal that would see Express Scripts becoming the largest pharmacy-benefits manager in the U.S.
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