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The outlook for the coming two years was also cut.
Some legislative experts say projected deficits over the coming two years could top $8 billion.
But in the business plan for the coming two years, the loss would still be there.
The bank is to cut its dividend payout to shareholders by more than 50% for the coming two years.
The US Army plans to cut 40,000 soldiers over the coming two years, according to documents seen by USA Today.
EvaluatePharma, a consultancy, estimates that 13% of global pharmaceutical sales are at risk from generic competition in the coming two years.
The half-chance saloonStandard & Poor's downgraded Venezuela and put the chances of a sovereign default in the coming two years at 50%.
The Texas Legislature has yet to finalize a budget for the coming two years, but the proposals under consideration would slash the grant program.
The measures are designed to reduce the deficit by an additional 1.5 percentage points of gross domestic product over the coming two years.
The provision protects certain oral drugs, including Amgen's Sensipar, from Medicare price controls, costing the federal government perhaps as much as $500 million in the coming two years.
Greece's planned fiscal consolidation over the coming two years would already be an unprecedented adjustment over such a short period, said Mr. Kounis, at Fortis.
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