EBay Inc.’s PayPal is cutting as many as 400 jobs, or about 3 percent of the workforce, an effort by President David Marcus to reorganize the payment processor and trim costs, a person with knowledge of the plans said.
Jamie Dimon, the CEO of JPMorgan Chase, is known as much for his swagger as for his banking savvy. Friday, when his bank reported triumphant results for the third quarter, was no exception.
A second month of sharp gains in gasoline costs drove wholesale prices higher in September. But outside of the surge in energy, prices were well contained.
Shares of chipmaker Advanced Micro Devices Inc. hit a multi-year low Friday after it warned that sales in the latest quarter were well below its forecast.
Stocks fell, giving the Standard & Poor’s 500 Index its biggest weekly drop in four months, as a slump in European and financial shares overshadowed an unexpected jump in consumer confidence.
The impending jump in capital gains taxes has prompted a flood of nervous calls to financial advisers in recent months.
Federal officials have approved a plan that sets aside public lands across the West for big solar power plants, cementing a new government approach to renewable energy development after years of delays and false starts.
Manhattan apartment rents surged in September, coming within 2.1 percent of the peak, as improving employment boosted competition among tenants.
Slumping stocks of real estate investment trusts (REIT) that buy mortgage debt signal the companies are paying a price for growing 10 times larger since 2004, according to Stifel Nicolaus & Co.
Oct. 12 (Bloomberg) -- Oil fell after the International Energy Agency reduced its forecast for global demand, saying slower economic growth may limit fuel consumption.
In a spirited debate that laid out stark choices, Joe Biden and Paul Ryan teed up pointed arguments on the economy, social policy and America's place in the world that President Barack Obama and GOP rival Mitt Romney now will drive forward into the campaign's final stretch.
Fierce and focused, Vice President Joe Biden and Republican Paul Ryan gave voters the kind of substantive showdown that was everything the presidential debate was not. Abandoning his boss' caution, Biden uncorked a combative repair job.
Oct. 12 (Bloomberg) -- Oil headed for its first weekly gain in a month in New York as OPEC production fell to the lowest level in eight months and increasing Middle East tensions prompted concern that supplies may be further disrupted.
Oct. 12 (Bloomberg) -- JPMorgan Chase & Co., the biggest U.S. bank by assets, reported record third-quarter profit that beat analysts’ estimates as mortgage revenue soared 72 percent.
Upbeat earnings from JP Morgan Chase & Co. and a strong U.S. consumer confidence survey helped shore up markets Friday, though investors remained cautious after buying up stocks aggressively the previous day.
A late spending splurge by outside political groups helped Republicans take over the House two years ago. The floodgates are opening again, but this time Democrats say they're better prepared.
Shares of Workday rocketed higher Friday in their first day of trading on the New York Stock Exchange.
Oct. 12 (Bloomberg) -- Earnings pessimism among U.S. chief executive officers is climbing to levels last seen when the Standard & Poor’s 500 Index was mired in bear markets.
Oct. 12 (Bloomberg) -- Samsung Electronics Co., the world’s largest mobile-phone maker, won its bid to continue selling its newest Galaxy Nexus smartphone in the U.S. while it battles patent-infringement claims filed by Apple Inc.
The stock fell mainly because analysts are concerned about Wells' ability make money on interest from loans that it originates. In a call with executives, most analysts focused on Wells' shrinking net interest margin -- the difference between interest it collects on loans and interest it must pay to depositors and other lenders. Wells' net interest margin fell to 3.66 percent from 3.84 percent a year earlier.
Shares of Sears Holdings Corp.'s spinoff of its Hometown and Outlet Stores are declining on its debut trading day.
Oct. 12 (Bloomberg) -- Morgan Stanley executives warned a partner in the Rhinebridge structured investment vehicle that mortgages underlying the SIV could cause it to fail, according to e-mails cited by investors who were sold $100 million of the fund’s notes just days after the warning.
A group of retailers and trade groups has launched a last-ditch effort to stop a settlement worth at least $6 billion that Visa Inc., MasterCard Inc. and major banks have agreed to pay retailers for alleged fee fixing.
Oct. 12 (Bloomberg) -- Dish Network Corp. was ordered by a New York judge to turn over documents to AMC Networks Inc. as a trial continues over AMC’s claim that Dish wrongfully terminated their high-definition television programming contract.
The United States has now spent $1 trillion more than it's taken in for four straight years.
Cyprus' president appealed to trade unions on Friday to rally behind tough austerity measures that the government wants to negotiate with potential creditors in return for a multi-billion euro bailout loan to prop up the country's ailing banks and economy.
After returning to the governor's office, Jerry Brown criticized a political culture he said lacked a common purpose and warned of a “war of all against all” unless the sniping camps learned to compromise and fix California's persistent budget problems.
Oct. 12 (Bloomberg) -- The euro climbed for a second day against the dollar and yen amid speculation Spain is moving closer to requesting a sovereign bailout and unlocking European Central Bank bond purchases.
Ecolab, the cleaning, food safety and pest-control services company, is buying the specialty chemical company Champion Technologies in a cash-and-stock deal valued at about $2.2 billion.
The space shuttle Endeavour is making its final journey to a Los Angeles museum.
Oct. 12 (Bloomberg) -- Gold swung between gains and losses in New York as the dollar weakened and amid speculation some investors will sell the metal after a price rally.
Oct. 12 (Bloomberg) -- Treasuries pared declines before a government report forecast to show that the pace of increases in wholesale prices slowed from the prior month, reinforcing the notion that inflation will remain subdued.
JPMorgan Chase, the country's biggest bank by assets, reported a record quarterly profit Friday.
The utility behind Japan's nuclear disaster acknowledged for the first time Friday that it could have avoided the crisis.
Oct. 12 (Bloomberg) -- Wholesale prices in the U.S. rose more than forecast in September, reflecting a jump in fuel costs that failed to trickle down to other goods.
Oct. 12 (Bloomberg) -- Confidence among U.S. consumers unexpectedly jumped in October to the highest level since before the recession began five years ago, raising the odds that retailers will see sales improve.
Oct. 12 (Bloomberg) -- Wells Fargo & Co., the most valuable U.S. bank and largest mortgage lender, said third-quarter profit increased 22 percent as the cheapest interest rates in history spurred refinancing.
Total U.S. money market mutual fund assets fell $1.38 billion to $2.562 trillion for the week that ended Wednesday, according to the Investment Company Institute.
Oct. 12 (Bloomberg) -- Apple Inc. may unveil a smaller version of the iPad at an event on Oct. 23, according to a person familiar with the matter who asked not to be named because the plans aren’t public.
China's newly named Nobel laureate for literature expressed hope Friday that an imprisoned Chinese winner of the Nobel Peace Prize will be freed, putting a dent in the ruling Communist Party's attempts to use his historic win to burnish its credentials.
Anti-regime activists say jihadist fighters linked to al-Qaida fought with rebels to capture a Syrian military air defense base near Aleppo.
Greece's finance minister will meet again with international debt inspectors Friday as they struggle to agree on the details of (euro) 13 .5 billion ($17.5 billion) in austerity measures for the next two years, a package essential for Greece to receive the next installment of its vital bailout funds.
Russia's foreign minister says the Syrian plane that was forced to land in Turkey was legally carrying Russian radar parts for Syria.
American Airlines says it will modify seats on 49 more planes to prevent rows of seats from coming loose during flight.