News Desk Archives - Page 353 of 401

Getting the Sack, Again: Looming Layoffs at These 10 Banks

The financial crisis of 2008 may be well behind us – as most economies rise up and past the slump. But in the past four months, banks have started another round of redundancies as they reevaluate employees to trim underperformers, shift advisory services online – and move away from non-core businesses.

Mergers have also caused people to lose their jobs – although in some cases, layoffs are compensated by recruitment in other areas of operation.

Are these layoffs necessary? Share your opinion with EconomyWatch below.

At a Glance: 2011 Indian Union Budget

Finance Minister Pranab Muhkerjee announced India’s 2011 Union Budget yesterday. So what does India’s 2011 Union Budget mean for India Inc?

At a glance:

.77 percent tax surcharge cut in corporate tax for domestic firms. Not a major reduction, but a welcome relief. In addition, minimum alternate tax has been raised marginally to off-set the surcharge cut.

Watershed Moment for Public-Sector Unions

In the half century since Wisconsin became the first state to give its public workers the right to bargain collectively,

government employee unions have mushroomed in size and power — so much so that they now account for more than half of the US’s admittedly paltry union membership.

But the legislative push by Wisconsin’s new governor, Scott Walker, a Republican, to slash the collective bargaining rights of his state’s public employees

Ikea’s Success Story

Why do millions of costumers endure the frustration and hassle of assembling their own flat pack furniture?

Because Ikea’s products are stylish – and they’re affordable to everyone.

Mikael Ohlsson, who took over as chief executive of IKEA Group in September 2009 says “We hate waste”.

Last year his designers found a way to pack the popular three-seater “Ektorp” sofa compactly, doubling the amount of sofa they could cram into a given space. Shaving $135 from the price tag.

Brazil’s Hot Alternative Investments

Private equity firms and hedge fund managers are finding this year’s investments in Brazil. Brazil’s exchange is now the fourth-largest in the world by market value. Hedge funds trading liquid instruments, and private-equity firms cashing out their investments via IPOs are seeing big bonuses in Brazil.

BM&FBOVESPA, Brazil’s main stockmarket summed up Brazil’s booming investments earlier this month.

Food Price Hike Drives 44 Million People into Poverty

Rising food prices have driven an estimated 44 million people into poverty in developing countries since last June

as food costs continue to rise to near 2008 levels, according to World Bank Group numbers.

“Global food prices are rising to dangerous levels and threaten tens of millions of poor people around the world,” said World Bank Group President Robret B. Zoellick.

Bad US-Shiite Relations Snarl Bahrain Situation

We’ve noted before that the Sunni elite / Shiite majority population factor in Bahrain has echoes all over the “Oil Gulf” region.

And part of the growing problem the US already has — and will have in the future — in dealing with the MENA People Power movements

is indicated by its deeply problematic relations with that majority Shiite population in Bahrain —

US Housing Prices Fell Again in December

Home real estate prices slid again in December, pushing a leading price index

within a whisper of its lowest level since the housing crash began, data released Tuesday showed.

Standard & Poor’s/Case-Shiller Home Price Index of 20 large metropolitan areas fell 1 percent in December from November,

although the drop shrank to 0.4 percent when the data was adjusted for seasonal variations.

The only city in the index that posted a monthly gain on an unadjusted basis was Washington.

Violence in Libya

Thousands of government supporters gathered last night at Martyrs’ Place in the centre of the capital Tripoli following a televised speech by leader Col Muammar al-Gadhafi in which he condemned ongoing anti-government demonstrations across the country –

Gadhafi called on supporters of his regime to attack street protesters and threatened major security operations in the north-eastern cities of Derna (Derna province) and Bayda (Al Jabal al Akhdar province).

Islam’s Public Role Now Open Topic in Tunisia

Five weeks after protesters forced out the country’s dictator, President Zine el-Abidine Ben Ali,

Tunisians are locked in a fierce and noisy debate about how far, or even whether, Islamism should be infused into the new government.

About 98 percent of the population of 10 million is Muslim,

but Tunisia’s liberal social policies and Western lifestyle shatter stereotypes of the Arab world: