Goldman Sachs Group Inc. misled clients and Congress about the firm's bets on securities tied to the housing market, the chairman of the U.S. Senate panel that investigated the causes of the financial crisis said.
NEW YORK (Dow Jones)--Bank of America Corp. (BAC) is eliminating 1,500 jobs in its mortgage origination business and shifting another 350 jobs from creating new home loans to handling troubled existing loans, a spokesman confirmed Thursday.
Lloyds Banking Group has announced 325 back-office job cuts within its Wholesale and Group Operations divisions. The bank, which is 41 percent owned by the tax payer, said the reduction in staff is part of its ongoing integration programme with HBOS, which it acquired in late 2008.
U.S. graduate business schools are losing their iron grip on the thriving market for international M.B.A. students. At the 25 U.S. graduate-business programs that award the largest numbers of degrees to international students, applications for the 2011 fall semester declined 4%, according to a survey released Tuesday by the Council of Graduate Schools,...
The cuts are a reversal from February, when 84,600 jobs were added. The unemployment rate falls slightly to 12%. Economists say some of the job losses were probably tied to rising gas prices and the quake and tsunami in Japan.
The Fed "prints money out of thin air" and this activity inflates the money supply, thus causing the hidden tax of "inflation" and a destruction of the dollar's purchasing power. It is thus the Federal Reserve System that is the CAUSE OF THE CURRENT GREAT RECESSION, THE 2008 FINANCIAL MELTDOWN, THE LINGERING UNEMPLOYMENT and THE MULTI-TRILLION DOLLARS...
Private Equity International magazine's proprietary fifth-annual ranking of the largest 300 private equity firms in the world. Below are the top 50 firms from the 2011 PEI 300, which ranks private equity firms around the world by size, using Private Equity International's unique, apples-to-apples methodology.
"It was the best of times, it was the worst of times…" The famous opening to Charles Dickens' "A Tale of Two Cities" would have been an apt headline for this year's Fortune 500. Apple is the shopping star on the list that no others can dare to compete.
J.P. Morgan remained in the top spot in global investment-banking revenue for the first half of the year, according to data-provider Dealogic's preliminary count of the first two quarters. The nation's second biggest by assets raked in $3.33 billion in revenue from activities...