JPMorgan Chase & Co. said Monday it will cut a total of 9,200 jobs at Washington Mutual, which it acquired Sept. 25 after Washington Mutual became the nation's largest bank to fail amid the ongoing credit crisis. Read More
Recently in Business Category
Business
Congress was decidedly unimpressed by the three domestic auto makers' plea for a bailout last week and responded by asking them to do the impossible: conjure up plans by Dec. 2 detailing how a bailout would revive them.
Read More
Congress was decidedly unimpressed by the three domestic auto makers' plea for a bailout last week and responded by asking them to do the impossible: conjure up plans by Dec. 2 detailing how a bailout would revive them.
National
Right now, the US Treasury and the Federal Reserve are like plumbers determined to get water flowing again through a system of clogged pipes. Each time they think they've got things working, another faucet stops up, and they have to drag out new and bigger tools to address the latest aspect of the ongoing US financial crisis.
Read More
Right now, the US Treasury and the Federal Reserve are like plumbers determined to get water flowing again through a system of clogged pipes. Each time they think they've got things working, another faucet stops up, and they have to drag out new and bigger tools to address the latest aspect of the ongoing US financial crisis.
Business
Wal-Mart Stores Inc., the world's largest retailer, unexpectedly
announced Friday that its chief executive will retire in February and
be replaced by the head of its international division.
Read More
Wal-Mart Stores Inc., the world's largest retailer, unexpectedly
announced Friday that its chief executive will retire in February and
be replaced by the head of its international division.
Finances
The government has abandoned the original centerpiece of its $700 billion rescue effort for the financial system and will not use the money to purchase troubled bank assets.
Read More
The government has abandoned the original centerpiece of its $700 billion rescue effort for the financial system and will not use the money to purchase troubled bank assets.
Business
Circuit City Stores Inc, the No. 2 U.S. consumer electronics retailer,
filed for bankruptcy on Monday just weeks before the start of the
holiday shopping season, becoming the largest retailer to file for
Chapter 11 since Kmart in 2002.
Read More
Circuit City Stores Inc, the No. 2 U.S. consumer electronics retailer,
filed for bankruptcy on Monday just weeks before the start of the
holiday shopping season, becoming the largest retailer to file for
Chapter 11 since Kmart in 2002.
Finances
Walter Buczynski was a top executive at a Maryland mortgage lender before he killed his wife and jumped off a bridge last January. Read More
Books
American political history is marked by four great transformative periods, says American religious historian Mark Noll in his new book, God and Race in American Politics: A Short History (Princeton University Press). And in three of the four periods, "potent combinations of race and religion were the engines that drove political change." Read More
Business
Wall Street capped another difficult week with steep losses Friday, sending the major indexes to their lowest levels in more than five years as markets around the world skidded lower on the belief that a punishing economic recession is at hand. Read More
Business
The employment carnage in the ever-shrinking U.S. auto industry continued Thursday as Chrysler LLC announced it would get rid of 1,825 factory jobs and General Motors Corp. trimmed some benefits and said it would make further white-collar cuts. Read More
The employment carnage in the ever-shrinking U.S. auto industry continued Thursday as Chrysler LLC announced it would get rid of 1,825 factory jobs and General Motors Corp. trimmed some benefits and said it would make further white-collar cuts. Read More
National
Alan Greenspan, the former Federal Reserve chairman, said on Thursday the credit crisis had exceeded anything he had imagined and admitted he was wrong to think that banks would protect themselves from financial market chaos. Read More
Alan Greenspan, the former Federal Reserve chairman, said on Thursday the credit crisis had exceeded anything he had imagined and admitted he was wrong to think that banks would protect themselves from financial market chaos. Read More
Business
The stock market's bottom faced, and passed, its first major test Thursday, giving investors hope that the recent weeks' sickening price drops are over.
Read More
Business
The Supreme Court on Monday refused to consider a murder case in which a jury foreman read passages of the Bible to hold-out jurors who subsequently voted to impose the death penalty. Read More
Finances
The now-bankrupt investment bank Lehman Brothers arranged millions in bonuses for fired executives as it pleaded for a federal lifeline, lawmakers learned Monday, as Congress began investigating what went so wrong on Wall Street to prompt a $700 billion government bailout. Read More
Finances
Brother Nikanor, a Nasdaq broker turned monk, advises former colleagues to put a jar with soil on their desks to remind them where we are all heading and what matters in life. Read More
Brother Nikanor, a Nasdaq broker turned monk, advises former colleagues to put a jar with soil on their desks to remind them where we are all heading and what matters in life. Read More
Business
The historic carnage on Wall Street reverberated across Europe on Tuesday, with stocks volatile after U.S. lawmakers rejected a US$700 billion bank rescue plan. Asian stocks fell. Read More
Business
Key supporters of a Wall Street bailout package prodded lawmakers to approve the plan hours ahead of a difficult House vote on Monday, with President Bush saying it is needed to "keep the crisis in our financial system from spreading throughout our economy." Read More
Key supporters of a Wall Street bailout package prodded lawmakers to approve the plan hours ahead of a difficult House vote on Monday, with President Bush saying it is needed to "keep the crisis in our financial system from spreading throughout our economy." Read More
World
The City was in shock last night after the apparent suicide of a millionaire financier haunted by the pressures of dealing with the credit crunch. Read More
The City was in shock last night after the apparent suicide of a millionaire financier haunted by the pressures of dealing with the credit crunch. Read More
Business
Congressional negotiators expect to announce a historic agreement today for a massive $700 billion bailout plan that lawmakers and the White House hope will calm jittery financial markets and ease the national credit crisis. Read More
Christian
One of the oldest and farthest reaching stories in Christian media appears to be nearing its last chapter. Read More
National
Washington Mutual is known for its no-thrills, no-fees, unconventional
banking with a hip, neighborly feel. Its nickname? WaMu. Its tag line?
Whoo hoo!
Read More
Washington Mutual is known for its no-thrills, no-fees, unconventional
banking with a hip, neighborly feel. Its nickname? WaMu. Its tag line?
Whoo hoo!
Business
As the debate over a $700 billion bank bailout rages on in Washington, one of the nation's largest banks -- Washington Mutual Inc. -- has collapsed under the weight of its enormous bad bets on the mortgage market. Read More
As the debate over a $700 billion bank bailout rages on in Washington, one of the nation's largest banks -- Washington Mutual Inc. -- has collapsed under the weight of its enormous bad bets on the mortgage market. Read More
Business
No one said it would be easy. Congressional negotiators go back at it again Friday to try to seek a deal on a plan to rescue the financial industry, after the White House's $700 billion rescue plan appeared to fall apart late Thursday. Read More
No one said it would be easy. Congressional negotiators go back at it again Friday to try to seek a deal on a plan to rescue the financial industry, after the White House's $700 billion rescue plan appeared to fall apart late Thursday. Read More
Business
With a Wall Street bailout looming that will almost certainly limit CEO pay, some of the poster boys of the financial crisis have already fled the scene, taking millions of dollars in severance packages with them. Read More
Business
Was it Morgan riding to the rescue, 101 years later? The latest stunning turn in the financial crisis -- the buyout of failed Washington Mutual, the nation's largest thrift, by investment bank JPMorgan Chase & Co. -- had a historic ring. Read More
Was it Morgan riding to the rescue, 101 years later? The latest stunning turn in the financial crisis -- the buyout of failed Washington Mutual, the nation's largest thrift, by investment bank JPMorgan Chase & Co. -- had a historic ring. Read More
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