Daniel Rohr News Today

silicon valley bank collapsed on friday, and the government of the state of new york shut down signature bank last night, claiming signature was on the verge of collapse. the federal government has since taken over that bank. president biden rushed out to the cameras this morning before the markets could open to try to calm the american people. he insisted theres no need for the public to worry, that their money is safe and the economy will not suffer. >> america can have confidence th...

And the need to slim down is not unique to citi; its industry wide. A financial industry runs into huge problems. It happened in the 30s, and it happened in the last five years. When you go through these periods, you go through a lot of change. That industry is now trying to figure out what is the right size of the industry. Reporter still, economists say citis action today is not the start of a new wave of mass layoffs across corporate america. The nations job market may not be robust, but its ...

In Corporate America . Tom im tom hudson. President obama tries to win over top business leaders, warning republicans are holding the Global Economy hostage over the fiscal cliff. Susie and apple shares get of the most widely owned stocks sees heavy trading. Tom that and more tonight on n. B. R. Susie big job cuts today at one of the nations biggest banks. Citigroup announced its slashing 4 of its staff; that works out to 11,000 jobs worldwide. The cuts will save the bank more than 1 billion a y...

Cutting staff. And the need to slim down is not unique to citi; its industry wide. A financial industry runs into huge problems. It happened in the 30s, and it happened in the last five years. When you go through these periods, you go through a lot of change. That industry is now trying to figure out what is the right size of the industry. Reporter still, economists say citis action today is not the start of a new ve aofls crfe america. The nations job market may not be robust, but its not froze...

Than 1 billion a year in expenses. But they wont be cheap, resulting in a billiondollar charge against fourthquarter earnings. Is this gloomy news from citi the beginning of other companies doing the same . Suzanne pratt reports. Reporter 11,000 jobs are a lot of layoffs, even for a bank as huge as citi. And there could be more. Thats because the monster firm is still struggling to recover from the Great Recession even though it has fired a lot of other workers in the last few years. The thing i...

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