Plus, the banks cutting their loss reserves most aggressively are the biggest ones, that is, the too-big-to-fail set.
Citigroup (NYSE:C), audited by KPMG for the last forty-one years, posted a profit for its third consecutive quarter after cutting its loan loss reserves.
There were cost cutting, loan-loss reserve releases, investment-banking fees and trading and a wave of refinancing.
Other budget-cutting measures include the the loss of 224 jobs, volunteers to run five libraries, and charges for some previously free services.
But even that level of cost cutting has been slower than the loss of income.
Last month it had warned that it would make a loss related to the cutting of 6, 000-7, 000 posts by 2016, a plan that was announced in January.
At the same time the company revealed a quarterly loss, despite ongoing cost-cutting efforts.
David Cameron has said the government needs to go "further and faster" on cutting the deficit, following the UK's loss of its AAA credit rating.
It is actually a little easier for C corporations, which generally do not have to worry about at-risk and the passive activity loss rules, but the Third Circuit is cutting Pitnery Bowes off before they even get there.
FORBES: Pitney Bowes Passes Go From Boardwalk But Lands On Income Tax
"Cutting down on drinking can have a big effect on weight loss or maintaining a healthy weight, " said Ms Mendoza.
General Motors is cutting 12, 000 jobs in a bid to turn around its loss making European division which has been undermining the group's profits.
Air France-KLM's CEO said the airline group will succeed in cutting costs and return to profitable growth, despite posting a big loss last year and facing further discussions with labor unions.
Cost-cutting more than offset increased spending to update some models and a substantial currency loss from euro-denominated sales.
As a result, the firm has taken measures to try to turn around the fortunes of the unit, including cancelling services on loss-making routes and streamlining some of its maintenance operations and cutting jobs.
The BBC is already cutting its workforce and output after Cameron's government imposed deep spending cuts and any loss of public trust could prove an issue in future discussions over funding and the licence fee.
That the company turned from last quarter's loss to a profit despite reduced revenues shows that Thorsten Heins' drastic cost-cutting measures and restructuring of the entire company are working.
Clinton and Obama frequently address issues that hit home for unions -- wages, protection of the right to form unions, health insurance, cutting taxes for the middle class and reworking trade agreements that some union members blame for job loss.
Cutting the DOE program would "kill all clean energy projects with pending DOE loan guarantee applications, causing the loss of tens of thousands of jobs and many other benefits, " the Solar Energy Industries Association said in a statement.
Despite his loss in the Democratic primary, the Connecticut senator ran as an independent on a platform that unapologetically rejected cutting-and-running from Iraq.
应用推荐