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Moody's Warns of Cut to Big Bank Ratings

Moody's Investors Service, the credit rating agency of Moody's Corp , warned on Thursday that it is likely to make further cuts in credit ratings of many European banks and global investment banks.

Wall Street Shed 2,000 Jobs in December

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Wall Street axed 2,000 workers in December as poor profits led companies to slice expenses, the biggest reduction since last summer when the industry released its summer interns, James Brown, a labor market analyst with the New York Department of Labor, said on Thursday.
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Fourth Man Involved in NYC Bomb Plot

According to federal authorities and a revised indictment, a New York City man is accused of planning one of the most devious terror plots since Sept. 11.
South Carolina Candidates

South Carolina Primary: 5 Things to Look For

The South Carolina primary is on Saturday, and only four candidates -- Newt Gingrich, Mitt Romney, Ron Paul and Rick Santorum -- remain. Here are five things to look for when the results come in.
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Hovensa: Why Gas Prices Will Spike

A major Virgin Islands-based oil refinery partly owned by Hess announced on Wednesday that it was closing, news that has sent gas prices to seasonal highs.
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U.S. Economy Improves but Obstacles Remain

The number of Americans filing for new jobless benefits dropped to a near four-year low last week and factory activity in the mid-Atlantic expanded moderately, suggesting the economy carried some momentum into the new year.
Drake

Sundance 2012 Goes Big: Drake, Wiz Khalifa, Chris Rock and Spike Lee to Show

Throughout the festival, from Jan. 19 to Jan. 26, big names will grace the auditoriums of Park City, Utah, where the festival will take place. The music acts will include Drake, Wiz Khalifa, Jason Mraz, Cobra Starship, LMFAO and Afrojack. The Sundance Channel will host an after-party special featuring performances by Estelle and DJ Jesse Marco, after artist talks with Mary.J Blige and Mos-Def about the documentary Invisible War.
A man walks into the Morgan Stanley offices in New York

Morgan Stanley Beats Expectations With Cost Cuts

A pricey settlement over bond insurance pushed Morgan Stanley into the red in the fourth quarter, but the Wall Street bank still posted better-than-expected results, due to a focus on cost cuts and relatively strong performance in equities trading.
iBooks 2 App

Apple Debuts Interactive iBooks 2, Tools for Textbooks

Apple unveiled their latest attempt at shaking up what it sees as an industry in need of some technological innovation Jan. 19 when it announced iBooks 2, a do-it-yourself publishing kit for digital textbooks. It's meant to turn Apple's iPad into a learning tool and allow schools to begin building their own kinds of content including text, images and video.
american express

American Express Earnings Preview: Upside Surprise in 4Q?

American Express Company (NYSE: AXP), the biggest credit-card issuer by purchases, is expected to beat Wall Street's consensus profit estimates, with earnings gains driven by stronger consumer spending and a diversified business model. This is sharp change from prior quarters when the company grew profits by dipping deeper into the company's reserve funds that were set aside to cushion against future losses.

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