Citigroup is shedding approximately 53,000 more employees in the coming quarters as the banking giant struggles to steady itself after suffering massive losses from deteriorating debt. ...more

November 18, 2008

Economy Jolts Into Decline; Bad Recession Seen WASHINGTON (AP) - The government reported Thursday that the economy shrank in the summer, sending the strongest signal yet that a recession may have already begun. ...more

November 2, 2008

On the surface, U.S. companies' second-quarter earnings were fairly respectable when you strip away the financial sector - profits for Standard & Poor's 500 members rose about 10 percent from a year earlier after falling sharply the two previous quarters. ...more

August 6, 2008

GMAC Financial Services said on Wednesday it would cut about 3,000 jobs, or 25 percent of the work force at its Residential Capital LLC mortgage operation. ...more

October 18, 2007