Bank of New York Mellon Corp plans to cut about 1,500 jobs, or 3 percent of its workforce, to stem rising expenses.
The battle for the world's most valuable company has heated up between Apple and Exxon Mobile, as Apple took over the crown during Wednesday trading.
The Consumer Reports Index, which tracks the financial optimism of Americans, plunged more than five points to 43.4 this month, the lowest in two years.
The U.S. budget deficit was $1 trillion before he took the oath of office, he inherited a nation in deep recession, with a banking crisis, two wars, and now there's a credit downgrade stemming from decades of debt incurred before he was on the scene, but make no mistake about it, President Barack Obama has to create a lot of jobs for his presidency to succeed.
President Barack Obama and the Democratic Party have nine months, or until about June 2012, to demonstrate to the American people that their policies can create 150,000 to 200,000 new jobs per month -- the amount needed to substantially lower employment and create ample opportunities for all.
U.S. stocks slumped on Friday as the all-important July jobs data failed to cheer investors.
Traders appear to be focusing on the European debt crisis, which is reaching emergency levels.
Slight improvement in jobs report is not enough, GOP hopefuls say.
Amidst union stalemates and subsidy negotiations, Congress passed a temporary bi-partisan reauthorization bill on Thursday that would allow the Federal Aviation Administration to collect taxes and return thousands of employees back to work after the shutdown.
Hiring increased slightly in July and the unemployment rate dropped to 9.1 percent, calming jitters after the worst day on Wall Street in almost three years. The Dow fell nearly 513 points Thursday, its biggest decline since Oct. 22, 2008.
16.6 percent of Americans between the ages of 18 to 24 are unemployed
Stocks tumbled across the globe on Thursday amid growing worries about the U.S. economy and Europe's mounting debt problems, reviving fears of another deep recession.
The U.S. economy unexpectedly added 117,000 jobs in July and the unemployment rate dipped to 9.1 percent, the U.S. Labor Department announced Thursday. Equally significant, the private sector added 154,000 jobs. The report was a pleasant surprise, but the nation is still in a deep hole job-wise -- short about 14 million jobs.
Markets remained jittery Friday even as Dow futures rose ahead of a jobs report that was slightly better than expected.
Overseas stocks are plunging following the devastating sell-off in the U.S. Thursday, ahead of a crucial July jobs report out of Washington.
A gauge of online labor demand in the United States grew in July compared to a year earlier, but dipped on a monthly basis as the need for employees slowed in the summer months, a private research group said on Friday.
The number of Americans claiming new unemployment benefits was steady last week and heavy discounting lifted sales at retailers in July, hopeful signs for the sputtering economy.
The Tea Party-swayed Republican Party won the U.S. debt deal crisis: federal spending was cut substantially. But amid a weak economy, did the coalition cut spending too soon?
Nokia Siemens Networks has begun cutting 1,500 jobs from the 6,900 staff it acquired with its $1.2 billion acquisition of Motorola's telecoms network unit in April, a spokesman said on Thursday.
The U.S. sell-off follows even greater declines in Europe.
Forget all the speculations about iPhone 5, the latest from the rumor mill is Apple could launch its HDTV modeled after Bose VideoWave in March 2012.
President Barack Obama will take a three-day campaign-style bus tour through the American Midwest this month, as he tries to refocus attention on jobs seen as vital to his chances of winning re-election in 2012.
