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Commerzbank confirms cutting 5,200 jobs by 2016

Germany's second-largest bank has finalized an agreement to cut 5,200 jobs over the next three years. Struggling Commerzbank AG on Wednesday said some 1,800 positions will be cut in its retail banking division, with the remainder spread across multiple departments. It says the management and the workers' council reached agreement ...

U.S. President Barack Obama gestures during a news conference with German Chancellor Angela Merkel at the German Chancellery on Wednesday, June 19, 2013, in Berlin. Obama will renew his call to reduce the world's nuclear stockpiles, including a proposed one-third reduction in U.S. and Russian arsenals, a senior administration official said. (AP Photo/Evan Vucci)

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 ...

In this Wednesday, May 22, 2013 photo, Federal Reserve Chairman Ben Bernanke testifies on Capitol Hill in Washington. The Federal Reserve ends a policy meeting Wednesday, June 19, 2013. Investors have been nervously speculating that the Fed will soon scale back its economic stimulus and send interest rates up and stock prices down. (AP Photo/Manuel Balce Ceneta)

Investors look for answers on economy from Fed

Worry and speculation have consumed investors since Chairman Ben Bernanke spoke to Congress last month about the Federal Reserve's drive to keep long-term interest rates at record lows. On Wednesday, many hope the Fed will settle the confusion. Will the Fed scale back its $85 billion-a-month in bond purchases within ...

A guide to the Federal Reserve's events Wednesday

Worry and speculation have consumed investors since Chairman Ben Bernanke spoke to Congress last month about the Federal Reserve's drive to keep long-term interest rates at record lows. On Wednesday, many hope the Fed will settle the confusion. Will the Fed scale back its $85 billion-a-month in bond purchases within ...

House Judiciary Committee members Rep. Trey Gowdy, R-S.C., sponsor of the Strengthen and Fortify Enforcement Act, left, talks with Rep. Luis Gutierrez, D-Ill., on Capitol Hill in Washington, Tuesday, June 18, 2013, prior to the start of the committee's hearing to discuss the Strengthen and Fortify Enforcement Act. The committee in the Republican-led House is preparing to cast its first votes on immigration this year, on a tough enforcement-focused measure that Democrats and immigrant groups are protesting loudly. (AP Photo/Carolyn Kaster)

CBO: Senate Immigration bill would help economy

Sweeping immigration legislation moving toward a vote in the Senate would boost the economy and reduce federal deficits, the Congressional Budget Office said Tuesday, at the same time it would bestow legal status on an estimated 8 million immigrants living in the United States unlawfully. In an assessment that drew ...

DeKalb CEO accused of trying to extort vendors

A grand jury indictment on Tuesday accuses DeKalb County CEO Burrell Ellis of threatening to withhold county business from companies that didn't contribute to his campaign. The 15-count indictment accuses Ellis of trying to extort campaign contributions from companies and their employees. The indictment also alleges that Ellis instructed the ...

Wisconsin lawmakers approve venture capital bill

State lawmakers on Tuesday approved legislation that would invest millions of dollars in public and private money in Wisconsin startups despite criticism that the investment targets only limited industries. The bipartisan legislation, sponsored by Sen. Alberta Darling, R-River Hills, would create a program that invests $25 million from the state ...

Here's what to watch for Wednesday from the Fed

What the world hopes to hear Wednesday from the Federal Reserve can be summed up in one word: clarity. Chairman Ben Bernanke will be pressed to settle the wave of confusion and speculation that's consumed investors since he spoke to Congress last month about the Fed's drive to keep long-term ...

Iowa health insurer to seek smaller rate hikes

Months after customers blasted the company for years of skyrocketing rates, Iowa's dominant health insurer said Tuesday it will limit premium increases in 2014 to less than six percent for individual and small business policyholders. Wellmark Blue Cross and Blue Shield said in a statement it would not raise premiums ...

Report: Commerzbank to lay off 5,000 employees

German news agency dpa is reporting that the country's second-largest bank is set to lay off about one tenth of its workforce. Dpa reported Tuesday the Frankfurt-based Commerzbank AG's management and employee representatives agreed to slash about 5,000 positions. Details will be worked out only in the coming days, company ...

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