TD Bank to move 40 jobs in New England to New Jersey

TD Bank is transferring about 40 jobs from northern New England to New Jersey, a spokeswoman said.

Jennifer Morneau told the Bennington (Vt.) Banner that jobs in Brattleboro, Vt., Concord, N.H., and Portland, Maine, are being relocated to Cherry Hill, N.J., as the bank downsizes its TD Wealth operations in northern New England.

The TD Wealth division focuses on long-term investment and wealth management strategies.

Morneau said the transition will be completed by February.

Doubts from Germany cast pall, send U.S. stocks down

A week ago, markets were soaring on hopes that a fix for Europe’s debt crisis was near. On Monday, stocks had their worst drop in two weeks after German leaders cast doubt on how fast that process would be.

It was the worst day for U.S. stock indexes since Oct. 3, when each hit a low for the year. The Dow Jones industrial average dropped 247.49 points, or 2.1 percent, to close at 11,397. Alcoa Inc. led the Dow lower with a 6.6 percent decline.

The Standard & Poor’s 500 lost 23.72, or 1.9 percent, to 1,200.86. All 10 industry groups in the S&P 500 were lower. Banks fell the most, 3.3 percent.

A batch of weak corporate earnings reports also pulled stocks lower. Gannett Co. Inc. plunged 8 percent, the most of any stock in the Standard & Poor’s 500 index, after the newspaper publisher reported a drop in advertising. Wells Fargo sank 8.4 percent after posting results that fell short of analysts’ expectations.

The Nasdaq composite index fell 52.93, or 2 percent, to 2,614.92.

Apple’s new iPhone having a crisp, 4-million unit rollout

Apple Inc. on Monday said it sold more than 4 million units of the new iPhone model in three days — or twice as fast as the previous model did when it launched last year.

Apple and its phone company partners started selling the iPhone 4S on Friday in the U.S. and six other countries.

When Apple launched the iPhone 4 last year, it sold 1.7 million in the first three days.