6 August, 2015 by The TZ Newswire Staff Comments Off on Hollande and Tsipras want Greek bailout agreed in late August
Hollande and Tsipras want Greek bailout agreed in late August
ATHENS/ISMAILIA, Egypt (Reuters) – A new bailout for Athens should be agreed by late August, Greek Prime Minister Alexis Tsipras and French President Francois Hollande said on Thursday. Greece is in negotiations with the European Union and International Monetary Fund for as much as 86 billion euros ($94 billion) in fresh loans to stave off financial ruin and economic collapse. Hollande said by the end of the month.
6 August, 2015 by The TZ Newswire Staff Comments Off on U.S. companies may be hiring but lid on wages, investment hits productivity
U.S. companies may be hiring but lid on wages, investment hits productivity
As the Federal Reserve puzzles over what is holding back U.S. wages and productivity six years into the economic recovery, a pasta sauce company in New Jersey may offer some answers. Chelten House Products makes private-label sauces and dressings for high-end grocers such as Whole Foods, Trader Joe’s and Kroger, and has doubled its workforce to 300 over the past five years to keep up with a booming organic food market. Chelten CEO Steve Dabrow says factory work is becoming a harder sell with unemployment down at a seven-year low of 5.3 percent.
6 August, 2015 by The TZ Newswire Staff Comments Off on Blackstone teams up with Hellman & Friedman for Worldpay bid: sources
Blackstone teams up with Hellman & Friedman for Worldpay bid: sources
U.S. private equity firm Blackstone (BX.N) has joined forces with buyout fund Hellman & Friedman to bid for British payments processing company Worldpay, two sources familiar with the matter said on Thursday. Worldpay’s private equity owners, Advent and Bain, are preparing the company for a London stock market listing which is likely to propel the firm into the FTSE 100 (.FTSE). Last month, they appointed Barclays’ deputy chairman Michael Rake as Worldpay’s new chairman, replacing John Allan.
6 August, 2015 by The TZ Newswire Staff Comments Off on Fed’s forecasts for jobless rate look out of step with history
Fed’s forecasts for jobless rate look out of step with history
Most Federal Reserve policymakers expect the U.S. jobless rate will stop plunging and stabilize right around its long-term normal level, a risky forecast given that this apparently hasn’t happened in at least a half century. Across decades of economic records as the economy healed after recessions, the rate dipped well below what analysts consider normal, the so-called “natural rate” of unemployment. Fed policymakers are betting history will unfold differently this time.
6 August, 2015 by The TZ Newswire Staff Comments Off on McDonald’s cuts 225 corporate jobs in July amid restructuring
McDonald’s cuts 225 corporate jobs in July amid restructuring
McDonald’s Corp (MCD.N) said on Thursday it laid off in July 135 employees at its U.S. headquarters and 90 corporate employees posted overseas as part of a major restructuring at the fast-food chain, which has been fighting to reverse a long sales slump. McDonald’s Chief Executive Steve Easterbrook in May announced plans cut $300 million in costs by the end of 2017 as part of a corporate reset that includes simplifying and streamlining operations to make the company more nimble in an intensely competitive market.
6 August, 2015 by The TZ Newswire Staff Comments Off on U.S. hospitals urge DOJ antitrust probe of Anthem-Cigna deal
U.S. hospitals urge DOJ antitrust probe of Anthem-Cigna deal
U.S. hospitals urged antitrust regulators this week to consider whether health insurer Anthem Inc’s (ANTM.N) planned acquisition of rival Cigna Corp (CI.N) would boost healthcare costs. In a letter to the Department of Justice, the hospital industry’s largest lobbying group said combining the No. 1 and No. 5 health insurers threatens to reduce competition in 817 geographic markets serving 45 million consumers.
6 August, 2015 by The TZ Newswire Staff Comments Off on Elliott sells stock as Samsung-Cheil deal clears hurdle
Elliott sells stock as Samsung-Cheil deal clears hurdle
The merger of two Samsung affiliates cleared a major hurdle, with buyback requests falling short of the amount that could have scuppered the $8B deal.