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FBN's Gasparino: Citi (C) Might Not Be the Only Bank Mulling More Job Cuts...
December 5, 2012 1:19 PM ESTFox Business Network reporter Charles Gasparino says Citi (NYSE: C) might not be the only one making job cuts in the financial sector.
According to his Twitter account: "MS, GS contemplating new workforce cut... More
Apple (AAPL) Slammed as Clearing Firms Raise Margin Requirements
December 5, 2012 9:59 AM ESTShares of Apple Inc. (NASDAQ: AAPL) are weaker on word clearing firms are raising the margin requirement for clients.
StreetInsider.com confirmed that COR Clearing raised its margin requirement specifically on Apple from 30% to 60% Wednesday, citing a "high concentration."
Shares of Apple are down $17, or 2.95%, to $558.85.... More
Citigroup (C) to Reduce Workforce by 11,000, Take $1B Charge in New Repositioning
December 5, 2012 9:03 AM ESTCitigroup (NYSE: C) announced a series of repositioning actions that will further reduce expenses and improve efficiency across the company while maintaining Citis unique capabilities to serve clients, especially in the emerging markets. These actions will result in increased business efficiency, streamlined operations and an optimized consumer footprint across geographies.
Michael Corbat, Citis Chief Executive Officer, said, These actions are logical next steps in Citi's transformation. While we are committed to-- and our strategy continues to leverage-- our unparalleled global network and footprint, we have identified areas and products where our scale... More
U.S. Adds Jobs at Slower Pace in November Due to Sandy, ADP Shows
December 5, 2012 8:30 AM ESTThe U.S. added 118,000 private sector jobs in November, according to the ADP National Employment Report. This was just below economics expectations of a gain of 125,000 and down versus last month's gain of 157,000 jobs.... More
