Sep 20, 2012 Bank of America is accelerating plans to cut costs by laying off workers. According to the Wall Street Journal, the bank has set a target of cutting 16,000 jobs by the end of this year -- about 6 percent of the bank's workforce.
Aug 30, 2012 Citigroup pays up for past deeds. Earlier this week, we learned the SEC is investigating Ally Financial for its own mortgage practices around that time.
Aug 30, 2012 Four years after the financial crisis, it's like the chickens of 2007 and 2008 are finally coming home to roost.
Aug 29, 2012 As part of our coverage of "The Real Economy" -- what matters most to voters this election year -- we've invited a guy named Mike Sleaford into the studio to give us his thoughts on the election and the economy.
Aug 15, 2012 Shares in the office supply store Staples are down 15 percent this morning after the company said its sales dropped 5.5 percent last quarter. Meanwhile, the discount retailer Target said it made a $700 million profit last quarter
Jul 31, 2012 Pfizer seems to be weathering the loss of its patent for Lipitor just fine. The drug company says its second quarter profit jumped 25 percent. That's despite lower revenue, and competition from generics for its cholesterol-fighting blockbuster.
Jul 31, 2012 The British oil company BP is reporting a sharp drop in profits. The company made just $238 million last quarter, compared with more than $5 billion a year ago.
Jul 30, 2012 Last week we spent plenty of breath on Sandy Weill, the former head of Citigroup. Back in the '90s, he fought for his and other banks to grow huge and complex. Then last week Weill goes on TV and says: "It's time to break up the big banks."
Stacey Vanek Smith
Jul 27, 2012 The Commerce Department announced Gross Domestic Product ticked up 1.5 percent in the second quarter. That's down from a growth rate of 2 percent in the first part of the year.