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Chastened banks cut tens of thousands of jobs Apr 25, 2013 12:00 AM
Layoffs in the depths of the financial crisis were to be expected. But four years later, and at a time when many banks are reporting higher or even record earnings, the cuts are unsettling to an entire industry.
Recession doesn’t change students’ econ savvy Apr 24, 2013 12:00 AM
"It is astonishing that high school seniors do not know more about how economics affects their wallets, their country and the world at a pivotal time in their lives, whether they choose to enter the workforce or pursue higher education," said David Driscoll, chair of the National Assessment Governing Board, which runs the federal tests.
White House says it’s open to fix on FAA furloughs Apr 24, 2013 12:00 AM
Under pressure, the White House signaled Wednesday it might accept legislation eliminating Federal Aviation Administration furloughs blamed for lengthy flight delays for airline passengers, while leaving the rest of $85 billion in across-the-board spending cuts in place.
Boeing sees early-May restart of 787 deliveries Apr 24, 2013 12:00 AM
Boeing said on Wednesday that deliveries of the 787 should resume in early May. Most of the 50 planes that have been delivered to airlines will be fixed by the middle of the month, Chairman and CEO Jim McNerney said.
Wealthy investors worried about Illinois economy Apr 22, 2013 12:00 AM
The Chicago area's wealthiest investors are much more nervous about their state's economy than counterparts elsewhere in the nation, according to a poll released Monday that reinforces concerns some companies may relocate if Illinois' financial situation doesn't improve. The poll by Morgan Stanley Wealth Management comes on the same day Texas Gov. Rick Perry visited Chicago to try to lure businesses from the state with the promise of lower income taxes and a stronger economy.
Smart Spending: Think inside the box — for samples Apr 21, 2013 12:00 AM
Once, businesses would hand out free samples in malls or throw them in with other purchases. Now, several businesses have sprouted up devoted to sending out a box of samples to customers once a month — and actually getting them to pay for it. While wine- or steak- of-the-month clubs have been around forever, the box of mystery treats is a relatively new form of subscription sales. It has caught on fast.
Are you a savvy manager of your IRA? Apr 21, 2013 12:00 AM
When it comes to retirement planning, most of the focus is placed on 401(k)s. The reality is that individual retirement accounts represent the largest share of America's savings. At the end of last year, IRAs had $5.4 trillion in assets compared with $5.1 trillion in 401(k)s and other defined contribution plans. Some 40 percent of U.S. households own at least one type of IRA, which offer tax incentives to save for retirement.
Authorities deal Russian mob a losing hand Apr 20, 2013 12:00 AM
Prosecutors say in recent years gambling operations laundered at least $100 million in illegal gambling proceeds through hundreds of bank accounts and shell companies in Cyprus and the United States.
Pepsi-Mondelez stakes raise merger speculation Apr 20, 2013 12:00 AM
Nelson Peltz’s Trian Fund Management LP disclosed stakes in PepsiCo Inc. and Mondelez International Inc., increasing speculation that he’ll push for a merger of the food makers.
Bid for FBI building sets off regional competition Apr 20, 2013 12:00 AM
The contenders include Maryland’s Prince George’s County, already home to federal agencies specializing in intelligence research and cybersecurity. Northern Virginia proponents boast of the area’s high-quality schools and proximity to the CIA headquarters and other existing FBI facilities, including its training academy, in the area. The District of Columbia is also offering a waterfront site near highways, public transit and a major league baseball stadium.
Review: 4 services to keep tax records organized Apr 20, 2013 12:00 AM
If you're like me, you waited until the final days of the tax season to file your returns. And if you're like me, you're thinking there ought to be ways to keep your finances organized throughout the year to avoid the mad scramble as April 15 approaches. As I procrastinated on doing my taxes, I researched several Web services that can help make tax season smoother next year.
World finance officials seek ways to boost growth Apr 19, 2013 12:00 AM
World finance leaders are searching for ways to promote better economic growth and stronger job creation while avoiding a dangerous slide into a global currency war. Finance ministers from the Group of 20 nations were expected to wrap up their discussions with the release Friday of a joint communique. The group, which includes Treasury Secretary Jacob Lew and Federal Reserve Chairman Ben Bernanke, began its discussions Thursday night.
USA Today founder Neuharth dies Apr 19, 2013 12:00 AM
During Al Neuharth’s more than 15 years at the helm of Gannett, the company became the nation’s largest newspaper company and the company’s annual revenues increased from $200 million to more than $3 billion. He became president and CEO of the company in 1973 and chairman in 1979. He retired in 1989.
Stocks recover slightly, ending tough week Apr 19, 2013 12:00 AM
Microsoft gained 3 percent to $29.77, leading the Dow Jones industrial average higher. The software giant reported earnings late Thursday that beat analysts’ forecasts and showed solid results from its Office, software tools and Xbox divisions. Google’s stock climbed 3 percent to $799.87. The leader in Internet search boosted prices for ads distributed to smartphones and tablet computers.
Airlines, pilots sue government to stop furloughs Apr 19, 2013 12:00 AM
Two airline trade associations and the Air Line Pilots Association said they have filed a lawsuit asking the U.S. Court of Appeals in Washington to stop the air traffic controller furloughs, which are scheduled to kick in on Sunday. However, the earliest the court is likely to schedule a hearing is sometime next week, after the furloughs have begun, said Nick Calio, head of Airlines for America, which represents major carriers.
U.S. finalizing arms sales to Israel, Arab nations Apr 19, 2013 12:00 AM
The Defense Department is working out final details of $10 billion in sales of warplanes, transport aircraft and advanced missiles to Israel and two Arab nations amid concerns about the growing threat from Iran and its disputed nuclear weapons program, Pentagon and congressional officials said Friday.
FAA to approve resumption of Boeing 787 flightsApr 19, 2013 12:00 AM
Boeing intends to work on the retrofits over the weekend, and flights could resume within days to a week, according to sources.
Poll Vault: How are you spending your tax refund? Apr 19, 2013 12:00 AM
Are you receiving or have you received an income tax refund this year? More than last year? What are you spending it on?
BMO Private Bank names leaders in Hinsdale, Naperville Apr 18, 2013 12:00 AM
BMO Private Bank has appointed Peter O'Connor managing director of BMO Private Bank in Hinsdale and Nate Wasson managing director of BMO Private Bank in Naperville.
Dish’s Ergen says Sprint debt manageable Apr 16, 2013 12:00 AM
Dish Network's combative chairman, Charlie Ergen, on Tuesday defended his $25.5 billion bid for Sprint Nextel, saying the debt load the deal would create for the combined company will be manageable.