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Postal Service on verge of financial collapse, postmaster general tells Senate hearing
WASHINGTON — The U.S. Postal Service is on the verge of financial collapse and should eliminate Saturday delivery, close thousands of local post offices, restructure its health plan and lay off 120,000 workers to survive, according to Postmaster General Patrick Donahoe.
Latest data breach strikes at financial security
NEW YORK — Citigroup's disclosure that the names, account numbers and email addresses of 200,000 of its credit card customers were stolen strikes at the core of modern-day financial life — the ways people buy groceries and pay the power bill.
Investments place value of Facebook at $50 billion
NEW YORK (AP) — An injection of cash that values Facebook at $50 billion will help it delay going public for at least another year, giving the company breathing room to focus on long-term ambition rather than short-term profit.