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The reason for low wages in Britain that no one mentions

The reason for low wages in Britain that no one mentions

HAVING returned earlier this year from a stint in the Washington office, your correspondent has been struck by one of the big differences between American and British economic discourse. In both countries since the crisis, real wage growth has been pretty measly. There are many reasons for this, which are detailed here and here. One […]

October 29, 2015 | By | Reply More
Time Warner Cable profit tops Street as subscriber additions rise

Time Warner Cable profit tops Street as subscriber additions rise

REUTERS: Time Warner Cable Inc on Thursday posted a better-than-expected adjusted profit in the third quarter as it added more high-speed data customers. The company, which is being bought by Charter Communications Inc, added 232,000 high-speed data subscribers in the third quarter compared with 172,000 additions in the second quarter. Wunderlich Securities analysts were expecting […]

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Deutsche Bank cutting 15,000 jobs as new CEO sets out strategy plan

Deutsche Bank cutting 15,000 jobs as new CEO sets out strategy plan

FRANKFURT: Deutsche Bank is slashing 15,000 jobs and shedding assets in which some 20,000 staff are employed, as new Chief Executive John Cryan starts to implement a deep overhaul aiming to improve returns at Germany’s biggest bank. Cryan said the bank will sacrifice its 2015 and 2016 dividends as it seeks to bolster its finances […]

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Samsung profit rises on record earnings from semiconductors

Samsung profit rises on record earnings from semiconductors

SEOUL, South Korea: Samsung Electronics Co. reported its first earnings growth in more than a year on Thursday as a record profit from computer chips masked a decline in its smartphone business. But the company predicted that its fourth quarter profit would decline as the boost that its chip business is getting from a strong […]

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Ringgit closes lower against US Dollar

Ringgit closes lower against US Dollar

KUALA LUMPUR: The ringgit ended lower against the US dollar Thursday as the greenback firmed on the back of renewed expectation of a US interest hike in December this year, a dealer said. At 5 pm, the local unit was quoted at 4.2960/2910 against the US dollar from yesterday’s 4.2670/2770. The dealer said the US […]

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Sony returns to profit after marathon restructuring effort

Sony returns to profit after marathon restructuring effort

TOKYO: Sony Corp. returned to profit last quarter in a sign its marathon restructuring effort is beginning to produce results. The Tokyo-based electronics and entertainment conglomerate on Thursday reported a 33.6 billion yen (US$278 million) profit for the fiscal second quarter, compared with a loss of 136 billion a year earlier. Sales dropped 0.5 percent […]

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Deutsche Bank to cut workforce by 15,000

Deutsche Bank to cut workforce by 15,000

FRANKFURT: Deutsche Bank said it was reducing its workforce by 15,000 as new Chief Executive John Cryan seeks to improve returns at Germany’s biggest bank. The lender said it would axe 9,000 full-time jobs and 6,000 external contractor positions. Separately, it plans to dispose of assets with a 4-billion-euro (US$4.37 billion) cost base and 20,000 […]

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FOMC statement from Oct. 27-28 meeting

FOMC statement from Oct. 27-28 meeting

WASHINGTON: Following is the full text of the statement released by the Federal Reserve’s Federal Open Market Committee on Wednesday following a two-day meeting: Information received since the Federal Open Market Committee met in September suggests that economic activity has been expanding at a moderate pace. Household spending and business fixed investment have been increasing […]

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Pfizer in merger talks with Botox-maker Allergan: WSJ

Pfizer in merger talks with Botox-maker Allergan: WSJ

REUTERS: Pharmaceutical giant Pfizer Inc recently approached Botox-maker Allergan Plc to discuss what could be the biggest takeover deal this year, the Wall Street Journal said on Wednesday, citing people familiar with the matter. The healthcare sector has seen an unprecedented wave of deals since early 2014, from large drugmakers buying up smaller rivals, to […]

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Committee approves bill to stop NLRB attack on small businesses

Committee approves bill to stop NLRB attack on small businesses

Washington, Oct 29:  The House Education and the Workforce Committee, chaired by Rep. John Kline, yesterday approved H.R. 3459, the Protecting Local Business Opportunity Act. The legislation will protect small businesses and the workers they employ by rolling back the National Labor Relations Board’s (NLRB) recent decision redefining what it means to be an employer. […]

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