Thfire.com Everyday news that matters The U.S. Postal Service continues to sink, on Thursday it reported a quarterly loss of $3.2 billion. The funny part is they are blaming the Congress for blocking the agency’s cost-cutting efforts to offset declining mail volume and mounting costs for future retiree health benefits. From January to March, losses were $1 billion more than during the same period last ... Read More »
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Bank of America reports $1.2bn loss
Bank of America has reported a second straight quarterly loss, driven by a $2bn (£1.25bn) writedown of its mortgage business. The bank announced a net loss of $1.2bn in the last three months of 2010, compared with a $5.2bn loss a year ago. However, last year’s results included a $4bn charge related to the government’s Troubled Asset Relief Program (Tarp). ... Read More »