New York City's fiscal picture is brighter than it has been in a long time, according to a new report that projects fewer job losses, higher revenues and "a dizzying U-turn" of profits on Wall Street after two years of unprecedented losses. The report released Thursday ...

NEW YORK (Reuters) - Wall Street securities firms will emerge from the current recession in a down-sized mode, with few of the jobs cut replaced by 2013, even as the industry returns to profitability next year, a New York City fiscal monitor said in a gloomy report released on Wednesday. The city faces a decline in tax revenues of $2.5 ...