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Citibank Teaches Us How To Destroy A $244 Billion Banking Institution

Only two short years ago, Citibank was worth $244 billion. Now, after its stock lost half of its value in just the past week, the bank is estimated to be worth $20.5 billion. What happened? The New...

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Tax Cat Buzzkill: Super Bowl Betting Wins Are Taxable

Did you participate in an office gambling pool or place a few bets with your friends? Well, bad news, big winner: those bets were illegal and your winnings are taxable. Tax researcher CCH cites...

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Sprint Loses Another 1.1 Million Customers

Wondering why Sprint CEO Dan Hesse has time to wander around NYC telling people about Sprint products? Well, it’s apparently come to that. Sprint has lost another 1.1 million customers. The truly sad...

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The nation’s banks lost a staggering $32.1 billion in the final three months of 2008, according to the FDIC. [AP]

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Bank Of America Posts $1 Billion Loss In Third Quarter

Do you hate Bank of America? Well take today’s earnings report and wallow around in it like Ann-Margret in beans, becuse the bank has posted a loss of $1 billion before dividends to preferred...

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"Rogue Trader" Gets 3 Years, $6.7B Fine

The “rogue trader” who cost his former employer, French bank Société Générale, $7.1 billion through a series of high-stakes bets that leveraged fictitious transactions outside his trading limit was...

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BP Spilled $5 Billion In Losses Last Year

Profit-machine BP took a $4.9 billion loss last year, thanks to an oil spill you may have heard about. The setback snapped the oil giant’s 18-year streak of turning profits, but the loss isn’t so bad...

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Bank Of America Loses $9.1 Billion In Quarter, Thanks To Investors Settlement

Bank of America had a rough second quarter, winding up $9.1 billion in the red, mostly caused by the $8.5 billion settlement it had to pay out to 22 investment groups over mucked up securities. The...

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Tesla Reportedly Loses More Than $4,000 On Each Car It Sells

The base price for a new Tesla Model S with all-wheel-drive will run you about $70,000. While that price tag isn’t for the faint of heart, its doesn’t quite represent how much the electric vehicle...

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Why GM Is Okay Losing Money On The Electric Chevy Bolt

When it comes to electric vehicles, consumers have to be willing to spend a pretty penny in order to reduce their emissions. But it’s not just car owners that are shelling out for more environmentally...

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