American Express to Cut About 4000 Jobs in Cost Drive
New York American Express said it will eliminate roughly 4,000 positions as part of another 800 million dollars in costs for the remainder of the year. The layoffs affect about six percent of the global workforce with notices going out this month and in coming weeks.
MENTIONED IN THIS ARTICLE
New York
American Express
Joanna Lambert
Lambert
U.S
Kenneth I. Chenault
California
Florida
Homebuilders Grow Optimistic on Housing Outlook
The National Association of Home Builders reports rising builder confidence for May, signaling possible end to a three year housing downturn. Improved affordability in early year data accompanies easing home prices and lower interest rates, with NAHB president Jerry Howard noting hopeful signs ahead.
MENTIONED IN THIS ARTICLE
Los Angeles
Jerry Howard
The
National Association of Home Builders
Stocks rise on housing and banks recovery hopes
U.S. stocks rebounded with the Dow up 235 points as housing and bank optimism returns. Lowe’s strong first quarter results and positive bank outlooks spurred gains, while the S&P 500 and Nasdaq rose about 3 percent and bond yields edged higher.
MENTIONED IN THIS ARTICLE
New York
Lowe’s Cos
U.S
Standard & Poor
James Cox
Harris Financial Group
Icici Bank Ltd
India
Dillard’s Inc
Nasdaq Pacific Ethanol Inc
Duessel
Wall Street
Lowe’s
Nader urges hearings on Chrysler GM dealer closures
Ralph Nader calls Congress to investigate dealership terminations and factory cuts at Chrysler LLC and General Motors Corp. He urges congressional oversight of restructuring led by the Obama era autos task force as up to 800 Chrysler and 1,100 GM dealerships face nonrenewal.
MENTIONED IN THIS ARTICLE
New York
Ralph Nader
Congress
Chrysler
Autos Task Force
Barack Obama
Cross Harbor wins Yellowstone Club deal in bankruptcy recovery
Cross Harbor Capital Partners gains ownership of the Yellowstone Club in Butte Montana after a court approved agreement. The Boston firm will pay 115 million dollars with 35 million cash and 80 million as a promissory note to Credit Suisse. Credit Suisse fraud claims tied to a 375 million loan are dismissed.
MENTIONED IN THIS ARTICLE
Butte, Mont
Montana
Ralph Kirscher
Cross Harbor Capital Partners
Credit Suisse
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Stock Exchange
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SPOR
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Evo
Dow Jones
Pimco TotRetis
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Amencan
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Dodge & Cox Stock
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Dodge & Cox IntiStk FY
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