Fewer jobs, bigger paychecks on Wall Street
Jobs on Wall Street are drying up, but the paychecks are getting bigger. A report from the New York state comptroller says that while there are fewer finance jobs, cash bonuses for Wall Street workers are expected to rise 8 percent, to $20 billion, for 2012.
Associated Press
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Home as the primary workplace
Only 2.5 percent of U.S. workers consider home to be their primary place of work, but that number is growing. One consulting and research firm analyzed census data and found that the percentage of employees who worked exclusively from home grew 66 percent from 2005 to 2010.
The Wall Street Journal
Revenue up in the music industry
Is the music business making a comeback? The International Federation of the Phonographic Industry said the industry last year recorded its first revenue increase since 1999—climbing 0.3 percent to $16.5 billion in global sales. At its peak, the industry raked in $38 billion for music sales worldwide.
The New York Times
The success of community college graduates
Nearly 30 percent of American community college graduates now outearn their counterparts who hold bachelor’s degrees from four-year universities.
CNNMoney.com
Millennials mind their debt
A new study shows that young adults are reducing their debt levels more quickly than older generations. Between 2007 and 2010, Millennials cut their overall debt levels by 29 percent. The share of younger households with debt of any kind has also fallen to a record low of 78 percent. But one reason young adults have less debt is because they have fewer assets—like mortgages.
Time.com
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The bottom line
feature Americans prefer bonds; The high cost of patent lawsuits; The price of gas in California; India's stock market takes a beating; The IMF issues a warning
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The bottom line
feature China's wealthy lawmakers; Google's move into TV; Fastenal tops Apple and Microsoft; Sheldon Adelson's big bets; Housing prices in Detroit move up
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The bottom line
feature Sales of digital music surpass album sales; The business savvy of immigrants; The Kate Middleton Effect; China's luxury car market; A poor market for architecture majors
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The bottom line
feature JPMorgan Chase surpasses BofA; Are the protestors right?; A weak market for music; Italy's debt; Residence visas for wealthy foreigners
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The bottom line
feature AIG repays last of $85 billion loan; Fewer Americans own homes; Credit-card interest rates peak; Consumers hoard the incandescent; Lenders return to commerical property
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The bottom line
feature Default rate on corporate debt falls; Business travel is up; Gold reaches a record high; Hunting industry reaps billions; Average credit card debt drops