Swiss banking giant UBS said Thursday that one of its traders lost an estimated $2 billion through unauthorized transactions, which could result in a loss for its entire third quarter.Police in London's financial district said they have arrested a 31-year-old man in connection with the massive loss.
Amazon and California have reached a deal on sales taxes. The online retailing giant, which doesn't collect sales taxes in the state has agreed to start collecting them a year from now.Amazon has long enjoyed a huge advantage by not collecting the tax — like brick-and-mortar stores do.
President Obama on Thursday will outline for Congress his new jobs-creation plan amid the grimmest employment picture in decades, with private sector hiring at a virtual standstill and state and local governments cutting jobs by the thousands to plug budget shortfalls.The president is expected to ou
The long Labor Day weekend is a time for backyard barbecues, catching up with friends and family, and for some, a game of Wiffle Ball.Over the years, the Wiffle Ball has wound its way into the fabric of America.
The northwest corner of Diversey and Pulaski is a parking lot today. But at one time it was the site of a lovely Chicago landmark.In 1935 the Olson Rug Company was expanding its Diversey Avenue plant. Company president Walter E.
When you think about Green Energy and its jobs, Albany, N.Y., probably wouldn't be the first city that pops into your head. But according to a report, the upstate New York region has the highest concentration of green jobs in the country.
Warren Buffett came to the rescue of Bank of America, the giant financial services company that faces a range of legal and financial problems. Buffett said Thursday he would invest $5 billion in the company and could buy more shares down the road.