Profits

Report: Ford Plans Job Cuts to Boost Profits

Darryl Hood,
Posted:

by Darryl Hood

The Wall Street Journal reports that Ford Motor Co. is planning substantial job cuts in order to boost profits and raise its stock price. The newspaper says the cuts would target salaried employees and would reduce Ford’s global headcount by an equivalent of 10 percent. Ford didn’t confirm the report Monday night. In a statement, the company said it’s focused…

US Banks’ Profits Up 7.7 Percent in Q4; Lending Grows

Darryl Hood,
Posted:

by Darryl Hood

U.S. banks’ earnings in the final quarter of 2016 rose 7.7 percent from a year earlier, as lending continued to grow and banks set aside less for losses on loans for the first time since late 2015. The data issued Tuesday by the Federal Deposit Insurance Corp. showed strength in the industry more than eight years after the financial crisis…