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.
Wal-Mart Stores Inc., the world’s largest retailer, said Chief Executive Officer Michael Duke received compensation valued at $18.7 million last year, less than a year earlier, as U.S. store sales dropped.
BP's 86-day Deepwater Horizon gusher sent nearly 200 million gallons of oil, tens of millions of gallons of natural gas and 1.8 million gallons of poorly studied chemical dispersants into the northern Gulf of Mexico.
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.
Since 2000, the pharmaceutical industry has cut 297,650 jobs, according to consulting firm Challenger, Gray & Christmas. For reference, that is about as many people as currently work at the three largest drug makers — Pfizer, Merck, and GlaxoSmithKline — combined.
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.