Economic Crisis, New York | featured news

Gov. David A. Paterson cited the state’s financial problems in announcing a decision that reverses an earlier pledge.

Wall Street paid out $20.3 billion in bonuses in 2009, up 17 percent from a year earlier, New York State's comptroller said, as the financial industry recovered fitfully from a near meltdown.

Despite a bad economy, the city is set to have the fewest number of homicides in a 12-month period since 1962.

Mayor Bloomberg's bare-bones budget for next year slashes the city work force by 23,000 but won't hit homeowners with higher taxes, officials revealed Thursday.