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Postal Service losses tripled to $16 billion
The US Postal Service tripled its losses in 2012, bleeding $15.9 billion as the state-owned enterprise faces tough competition and what it calls onerous and unfair retirement funding requirements. The US mail said its losses rocketed in the year to September 30 from a $5.1 billion loss last year, with…
JPMorgan losses could hit $9 billion
The losses from JPMorgan’s botched derivatives trade may reach $9 billion, nearly five times the amount announced in May, the New York Times reported Thursday. The Times quoted an unnamed source as saying a report generated in April showed that in a worst-case scenario the losses from the trade could…
Sony and Sharp warn of massive losses
Sony and Sharp, two of Japan’s best-known electronics giants, on Tuesday warned of record losses in the billions of dollars as they struggle to survive amid fierce global competition. Sony, the Tokyo-based maker of PlayStation consoles and Bravia televisions, blamed a tax charge for its expected full-year loss of 520 billion…
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Commentary
On Memorial Day, it’s time to make sure our veterans suffering from burn pit diseases get the care they need
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