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Labor
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 ...
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 ...
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 ...
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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