Goldman queried on compensation practices
Goldman Sachs Group Inc. said on Wednesday the government has queried its compensation practices and the use of credit derivatives. Goldman in July reported robust net earnings of $3.4 billion for the second quarter, soon after repaying a $10 billion bailout received from the U.S. Treasury's Troubled Asset Relief Program.
U.S. private sector job loss rate falls in July
The number of private sector jobs lost in July fell 5.7 percent. Automatic Data Processing, a payroll-processing firm, said private-sector employers cut 371,000 jobs in July. It was the smallest monthly total since last October. Economists surveyed by Briefing.com had forecast a loss of 350,000 jobs for July. Despite the lower loss rate, more job losses are still on the cards indicating that the labor market remains troubled.
400 Yahoo workers to be hired by Microsoft
Microsoft has agreed to hire at least 400 Yahoo employees as part of the companies' new plan to share revenue on Internet search advertising, a a Securities and Exchange Commission filing said on Tuesday. In the filing Microsoft said it would also hire 150 of Yahoo's staff to assist with the transition.