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Ousted founder of Men's Wearhouse fights back
George Zimmer, the ousted founder and executive chairman of Men's Wearhouse, says Wednesday he was dismissed after he and the company's board disagreed about how it should look. In a statement released to CNBC following his termination, Zimmer says he expressed concerns to the board over the company's direction and ...
Obama warns EU over high youth unemployment
President Barack Obama raised the prospect Wednesday that Europe might need to adjust its economic policies to tackle high youth unemployment and make sure that some countries don't "lose a generation." Obama warned during his visit to Berlin that, while he was confident the euro area's leaders will resolve their ...
Swiss lawmakers reject deal on banking secrecy
Switzerland's lower house of parliament has for the second time rejected a government proposal on relaxing Swiss banking secrecy laws, a move that would have helped the country's banks avoid facing U.S. criminal charges for shielding tax cheats. Switzerland's National Council, by a vote of 123-63 with four abstentions, Wednesday ...
Dolce and Gabbana convicted of tax evasion
A Milan court on Wednesday convicted the designers Domenico Dolce and Stefano Gabbana of tax evasion. They were found guilty of failing to declare 200 million euros ($268 million) through a Luxembourg company to authorities and given a one year and eight months suspended jail sentence. They were ordered to ...
Stocks drift lower as investors wait for the Fed
Stocks are drifting lower on Wall Street as investors hold back ahead of a policy announcement from the Federal Reserve. The Dow Jones industrial average was down 10 points, or 0.1 percent, at 15,307 at midday Eastern Daylight Time Wednesday. The Standard & Poor's 500 index was down two points, ...
Airbus clocks 59 orders for new A350 wide-body jet
Airbus raked in orders Wednesday for its new A350, announcing 59 sales of the wide-body jet that flew for the first time last week. Singapore Airlines ordered 30 A350-900s, with an option to buy another 20 of the 900s or the larger 1000 model. The airline had already ordered 20 ...
Israel to export 40 percent of its natural gas
Israel has decided to export 40 percent of the natural gas it expects to produce from offshore wells, keeping a larger amount for local use than expected. The figure, announced by Prime Minister Benjamin Netanyahu on Wednesday, is lower than the 53 percent recommended by an inter-ministerial committee last year. ...
Obama Renews Call for Nuclear Reductions
President Barack Obama is calling for a one-third reduction of the world's nuclear stockpiles. Speaking at Berlin's iconic Brandenburg Gate, he says he intends to seek negotiated cuts with Russia to move beyond a Cold War nuclear posture. ...
Study: Wiser medication use could cut health costs
If doctors and patients used prescription drugs more wisely, they could save the U.S. health care system at least $213 billion a year, by reducing medication overuse, underuse and other flaws in care that cause complications and longer, more-expensive treatments, researchers conclude. The new findings by the IMS Institute for ...
Stocks edge lower as investors wait for the Fed
Stocks are edging lower in early trading on Wall Street as investors hold back ahead of a policy announcement from the Federal Reserve. The Dow Jones industrial average was down 17 points, or 0.1 percent, at 15,301 in the first few minutes of trading Wednesday. The Standard & Poor's 500 ...
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