After adding thousands bankers in the past two years, financial firms again appear to be on the verge of cutting that many positions and then some. Consultants and Wall Street recruiters say banks could eliminate nearly 21,000 jobs from their securities divisions in...
Finance
Scientists plan $1b Ghost Town
A scientific ghost town in the heart of southeastern New Mexico oil and gas country will hum with the latest next-generation technology -- but no people. A $1 billion city without residents will be developed in Lea County near Hobbs, officials said Tuesday, to help...
B of A’s Mortgage Reduction Insanity
Bank of America has started sending letters to thousands of homeowners in the United States, offering to forgive a portion of the principal balance on their mortgages by an average of $150,000 each. The reduction for qualifying homeowners could amount to monthly...
China Enters U.S. Banking Market
The United States on Wednesday opened its banking market to ICBC, China's biggest bank, for the first time clearing a takeover of a US bank by a Chinese state-controlled company. Just days after high-level US-China economic talks in Beijing, the Federal Reserve...