The latest business news around the world. Written by Market Business News's very own editorial team to deliver reliable, up to date, and honest news.

Will Merrill Lynch cease to exist?

After acquiring Merrill Lynch and Co. four years ago, Bank of America Corp. says it is considering closing it down. Bank of America says it aims to keep the brand name Merrill Lynch going, but plans to close down the entity by the end of…

Raising a child in the US costs $241,080

Have you ever wondered what the cost of raising a child is? According to a new report by the US Department of Agriculture, a child born in 2012 will cost about $241,080 to raise up to his/her 17th birthday. If you adjust the figure for…

Optimism about U.S. economic recovery

There is encouraging optimism about U.S. economic recovery and opportunities for businesses among Chief Financial Officers (CFOs) in the U.S., according to the latest survey conducted by Baruch College’s Zicklin School of Business and…

Gold demand up 53% in second quarter 2013

Demand for gold rose 53% in the second quarter of 2013, driven by strong growth in India and China, says the latest World Gold Council Gold Demand Trends report. The authors of the report explain that recent falls in the price of gold have…

Rupee hits new low against the dollar

The rupee fell to 62.03 per dollar, a new record low. Foreign investors have been taking their money out of Indian debt and shares amid concerns over its economy. The rupee fall occurred despite attempts to prop up the currency. The Reserve…

Consumer prices up 0.2% in July, USA

Consumer prices rose moderately in July, according to the Bureau of Labor Statistics (BLS), mainly because medical care services, cars and food saw minimal increases. However, earnings have not managed to keep pace with inflation. The July…

Cisco plans to lay off 4,000 employees

Cisco Systems Inc. has stated that it is planning to lay off five percent of its employees, translating into 4,000 people losing their jobs. Cisco made the decision to cut back its workforce after the company released disappointing revenue…