State Street

State Street to Cut 1,400 Jobs

State Street Corp. (STT) plans to cut 1,400 jobs and reduce real estate costs as near zero interest rates eat into profit. The job cuts represent about 5% of the bank%u2019s workforce, Bloomberg News said. The measures should save the company as much as $625 million a year by the end of 2014.

Dow Reclaims 10,000, Powered by Financial Stocks

The major averages rallied sharply Wednesday with the blue-chip Dow closing up 274 points, fueled by a rosier earnings forecast from money manager State Street Corp. and anticipation of strong monthly retail sales reports on Thursday.

ETFs in 2010: Hot. Don't Get Burned

Providers of exchange-traded funds and notes had a strong 2009 and the new year is shaping up to bring more of the same. But what's good for ETF companies isn't necessarily good for investors.