The banking giant’s $2 billion loss has many lawmakers and economists wondering what happened to the 2010 financial overhaul, which was supposed to prevent risky hedging. Many are also looking back further — to a Depression-era law, repealed in 1999, that separated commercial and investment bank activities.
President Obama and other leaders of wealthy nations underscored an increasing consensus for the need to combine growth measures with relentless budget cutbacks if their countries are to work their way out of their debt troubles.
The two-day strategic networking event is set to examine water conservation solutions in the oil and gas industry.
Investors snapped up Facebook shares on a much hyped and tumultuous first day of trading. Mark Zuckerberg got it all started by ringing the opening bell for Nasdaq. Then a glitch delayed trading by half an hour. The IPO put Facebook’s market value at over $100 billion — more than McDonald’s or Amazon.
New French President Francois Hollande visited President Obama at this White House on Friday afternoon. The two leaders will also travel to Camp David for the G-8 economic summit.
A TED Talk challenging conventional wisdom that rich entrepreneurs are the number one job creators is now available for public viewing, after TED organizers originally kept the video private because it was too “explicitly partisan.”
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JPMorgan Chase says it lost billions of dollars trading “synthetic derivatives.” Do these complex Wall Street transactions ever do anything to help average people? To answer that question, we consider the case of an imaginary company, Chickens LLC, that is looking to grow.
Greece keeps cutting its budget to help pay debts and avoid default but then its economy keeps contracting, making the problem worse. The new French President Francois Hollande wants to find a way to stimulate Europe’s economy.
Hewlett-Packard reportedly has decided on a restructuring that will eliminate 30,000 jobs worldwide. The company isn’t expected to say anything publically until next week when it announces quarterly earnings.
The company may cut about 8 percent of its workforce as part of a restructuring.
