- Blackberry to cut 40% of their staff. One word: ouch!
- Wells Fargo to cut 1,800 more jobs:
Add these recent announcements to previous announcements in the past six months, and one understands better why the Fed did not begin tapering.... the biggest U.S. mortgage lender, is eliminating about 1,800 more jobs in its home-loan production business as rising mortgage rates curtail borrowers’ demand for refinancing.The reductions are in addition to 3,000 earlier this quarter, Tom Goyda, a spokesman for the San Francisco-based bank, said in an interview yesterday. Those included 2,300 announced Aug. 21 and smaller cuts prior to that, Goyda said.
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Leave it to Debbie Downer to find a "fracking" story in the Boulder floods:
Contaminated water spilling from flooded oil and gas drilling sites in Colorado is refocusing attention on the environmental risks surrounding America's fracking boom.
Floods that have devastated north-central Colorado, killing eight people and displacing thousands, have also dislodged storage tanks that hold drilling wastewater left over from the production process known as hydraulic fracturing, or fracking.
While the impact of leaks is yet to be assessed, environmental groups, which oppose fracking, are expressing concerns about the risk of adding drilling fluids to other toxins potentially loosed by the floods.
Fertilizer and pesticides running from vast tracts of farmland may pose a bigger threat.Glad to see Debbie Downer keeps up on these things. At least Reuters is honest enough to mention the bigger threat. I'm surprised Debbie didn't delete that paragraph.
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