Cracking Finance
Your only stop for Business, Finance, Jobs and Insurance news.
Employers looking to hire next year
After last few disastrous months, things might finally get better in future. According to a new poll, it seems like employers will initiate hiring next year. Approximately, 14.5 million U.S. workers are unemployed currently.
Fifty percent of the employers from the poll said that they will hire employees for full-time position …
Twitter down due to Denial of Service (Dos) attacks
If you are a Twitter addict, you may have noticed that Twitter was down today (Thursday) morning. The reason for downtime was a DoS (Denial of Service) attack.
A DoS attack consists of sending more amount of traffic to a website or server than it can handle. Usually, such attacks are …
CIT Group avoids bankruptcy
A deal was struck between the directors of CIT Group and its important bondholders to avoid bankruptcy. CIT Group is a major lender to small businesses. Presently, CIT is in tremendous amount of debt and hopefully, this deal will provide them with some time to manage their business model.
CIT Group …
GE announces 1,200 new jobs in Michigan
Nowadays when jobs are being cut in every single sector, GE will be creating new jobs. GE’s CEO and chairman announced yesterday that GE will be creating 1,200 more jobs in Michigan. GE is building a center for manufacturing technology. Worth $100-million.
Michiganders can start applying for jobs next week. According …
American Airlines cuts 1,600 jobs
On Friday morning, a spokesman from American Airlines Inc revealed that 1600 jobs will soon be cut.
American Airlines, which is a part of Fort Worth, will cut 1,200 flight attendant positions, 300 airport services positions, 50 cargo service positions and 50 others. Cuts for flight attendant positions will mainly be …
Fannie Mae lose money, asks for aid
On Friday, another bad news came for the financial market when Fannie Mae reported a first quarter loss of around 23.2 billion dollars. The mortgage finance company also revealed that it has asked the Treasury department for 19 billion dollars. The mortgage giant has already asked 15.2 billion dollars last …
I.M.F estimates loses from crisis to be $4.1 trillion
According to a recent estimation by IMF (International Monetary Fund), the banks and financial institutions face losses going up to 4.1 trillion dollars due to the current economic crisis. This information was released by IMF in its global financial stability report on Tuesday. According to the fund, the institutions will …
Goldman Sachs reports profit in the first quarter
Amidst all the financial trouble going on, a ray of hope came this Monday when Goldman Sachs declared a first-quarter profit of $1.66 billion. This profit is 13% higher than the quarter a year ago. Another announcement made by the firm, was that it has decided to raise &5 billion …
Microsoft and Yahoo talking about ad partnership
Last year, Yahoo and Microsoft held several negotiations which ended without any result. But it looks like that a new series of discussions have started once again. According to an anonymous person, Ms. Bartz, Yahoo’s chief executive, and Steven A. Ballmer, Microsoft’s chief executive, met last week.
Both Yahoo and Microsoft …
FedEx reduces operating costs through layoffs
1000 Employees have been laid off by FedEx Corp. in order to meet job cuts. The announcement was made by the package delivery company after a drop of 75% in the earnings. On Friday, the company informed that out of the laid off workers, half of them will be employed …
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