Oil prices fell on Friday

Oil prices fell on Friday (Saturday morning GMT) along with the stock market, because of rising concerns about the health of Europe and the U.S. economy amid debt problems on both sides of the Atlantic. New York's main contract, light sweet crude or West Texas Intermediate (WTI) for October delivery, fell 1.81 dollars to close at 87.24 dollars a barrel. In London, Brent North Sea crude oil for October delivery fell 1.78 dollars to settle at 112.77 dollars a barrel on the Intercontinental Exchange.

Bank of America is Considering Cutting Up to 40,000 Workers

U.S. financial giants, Bank of America is considering cutting up to 40,000 workers as part of a round of belt tightening is anticipated to be warm, the Wall Street Journal reported Friday.

Journal citing unnamed sources, who said the company had discussed cutting 30,000 to 45,000 jobs, but he said, that figure could still change and that the decision will be made over a period of several years.

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