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Skyscrapers have ‘unhealthy’ link to financial crises

The construction of enormous skyscrapers has an “unhealthy” link with looming financial crises and investors should therefore keep a close eye on China and India, Barclays Capital said on Wednesday. China is currently the biggest builder of skyscrapers, while booming India is constructing the second largest tower in the world, the investment bank said in its latest…

BofA plans 30,000 job cuts; investors underwhelmed

(Reuters) – Bank of America Corp said it is cutting 30,000 jobs in the coming years as it looks to slash annual expenses by $5 billion, but investors were disappointed in the scant new detail the bank provided about its plans. The bank’s chief executive,Brian Moynihan, said Bank of America…

US consumer confidence hits three year high

WASHINGTON — US consumer confidence hit a three year high in February as Americans became more optimistic that their finances would soon improve, according to a widely-watched indicator. “Consumers are more positive about the economy and their income prospects, but feel somewhat mixed about employment conditions,” said Lynn Franco, director…

Core inflation fastest in more than a year

WASHINGTON (Reuters) – U.S. core consumer prices rose at the fastest pace in more than a year in January, indicating a long period of slowing inflation had run its course. The Labor Department said on Thursday its core Consumer Price Index, which excludes food and energy costs, increased 0.2 percent…

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