BERLIN— A union representing Lufthansa's pilots is threatening a new round of strikes in a long-running dispute over wages and early retirement benefits. The Vereinigung Cockpit union says in a statement it may order pilots to strike "starting immediately" because negotiations have failed to achieve their goals.» Read More
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Earlier this week, in a CNBC exclusive interview, Wilbur Ross, CEO of WL Ross & Co. noted that in the current tumultuous financial environment, private equity firms and buyout specialists may reap a rather depressing benefit--the ability to scoop up distressed banks at rock-bottom prices.
While it's soon to say how workers will fare at Lehman Brothers and Merrill Lynch, corporate layoffs are likely to top a million for the first time in years. Given the long arm of the credit crunch and the slowing economy, few of us seem protected from layoffs, you might want to prepare for the worse. Here's some tips.
British bank Barclays said it could acquire some of Lehman Brothers' businesses while economists discuss the future of the financial sector. Following are today's top videos:
The Federal Reserve, meeting during an unprecendented crisis on Wall Street, decided to leave interest rates unchanged but expressed concern about the crisis escalating.
Given the considerable crossover between the banks—especially in investment banking groups such as fixed income, equities and leveraged finance—and the $7 billion in cost savings that BofA has already identified, there will certainly be several thousand job cuts announced at both firms in the next few months.
The Federal Reserve left rates unchanged on Tuesday, giving little relief for Wall Street one day after the Dow's 500 drop. What follows are video highlights of the experts' reactions.
Financial markets are widely expecting the Federal Reserve to cut interest rates today, but they may not get their wish.
Financial markets are widely expecting the Federal Reserve to cut interest rates today, but they may not get their wish. Take our Poll:
Don't expect the central bank to cut interest rates on Tuesday at its regularly scheduled FMOC meeting following the Lehman Brothers-Merrill Lynch-AIG developments, even though that's the action it took in March when Bear Stearns was on the ropes.
Lehman Brothers’ bankruptcy means most of its 25,000 remaining employees will soon be out of job without a substantial severance package, leaving them with little breathing room with which to search for a new job.
Viscusi’s book delivers a sucker punch to the gut – one that wakes you up and knocks you silly with real strategies to protect your job and your family’s financial future. He writes that this is no time for crybabies so quit your boo-hooing about merit and fairness and start improving your chemistry with the boss right now!
Alitalia's biggest unions clinched an initial deal with the airline's potential buyers on Monday that raised hopes it could avoid collapse, but pilots balked and flights risked being grounded for a lack of cash to buy fuel.
Attention Wall Street: Add the precipitous slowdown in consumer spending to the list of worries and reasons to think a recession is underway or imminent.
The Fed may start considering another interest rate cut at the end of this year or early 2009, which was widely considered out of the question a week ago.
You’ve been making boatloads of money trading derivatives for a bulge bracket investment bank in New York. You’re happy with your job, and your employer is happy with you (because you’ve making them boatloads of money).
Government data is expected to show that the number of newly laid-off people filing jobless benefit claims dipped slightly last week but remains at elevated levels due to the sluggish economy.
Lehman Brothers reported a record $3.93 billion quarterly loss, while top economists debated over the GSE takeover of Fannie Mae and Freddie Mac. Following are today's top videos:
Deaths among those working the nation's oil and gas fields have risen at an alarming rate, The Associated Press has found.
The blogging CEO is not a new creature in the internet landscape – some members of the blogging CEO club have diligently posted since the days of the dot-com bust.