JOBS

Jobs growth skidded to a near-halt in December and the unemployment rate hit a two-year high, according to a government report on Friday that raised recession fears and chances of more interest-rate cuts. unemployment rate hit a two-year high, according to a government report on Friday that raised recession fears and chances of more interest-rate cuts.

National City Corp, one of the 10 largest U.S. banks, on Wednesday said it will cut its common stock dividend 49 percent and eliminate 900 jobs as it stops offering mortgages through brokers, and it plans to raise more capital to cope with weakened credit markets. The Cleveland-based company cut the quarterly dividend to 21 cents per share from 41 cents. Chief Executive Peter Raskind said the cut ...

Bristol-Myers Squibb Co, as part of an expected major restructuring, on Wednesday said by 2010 it would cut its work force 10 percent and slash the number of its manufacturing plants by more than half, to generate an additional $1.5 billion in savings. The company is also planning to sell its medical imaging business and reviewing strategic alternatives for its wound healing unit. Sales would bring the company cash to boost its core pharmaceuticals business.

Private employers added 189,000 jobs in November, a report by a private employment service said on Wednesday, much higher than market expectations and the biggest monthly increase in a year.

The largest tax preparer in the U.S said on Tuesday that it will shut down its troubled mortgage lending arm and cut 620 jobs as the units sale to Cerberus Capital Management LP has fallen through.

Home improvement retailer Home Depot Inc is closing three call centers that aid its home services business, cutting about 950 jobs, a spokesman said on Tuesday.

Dow Chemical Co will shut a number of plants and eliminate about 1,000 jobs to cut costs and direct capital toward businesses with better growth prospects, the largest U.S. chemical maker said on Tuesday.

Bear Stearns Cos Inc (BSC.N) is cutting 650 jobs or 4 percent of its global workforce as the investment bank seeks to lower costs after losing bets on risky subprime mortgages. Of those cuts, around 20 will be in London, both in the front and back office, a source familiar with the situation said on Wednesday. The bank employs about 1,500 in London.

As consumers flooded to Apple Inc's retails stores this holiday weekend, the firm's widescreen media player garnered the most interest of all the electronic devices, however the buzz did not translate into strong sales for iPhone's cousin.

Steve Jobs has been named the most powerful person in business for 2007, according to a new list compiled by Fortune Magazine

Employers added about twice as many new employees last month than expected, while factory orders edged up, according to government reports on Friday that implied the economy was strong enough to avoid recession. The Labor Department said 166,000 non-farm jobs were added in October, enough to support consumer incomes and spending in the approaching holiday shopping season.

Bank of America Corp on Wednesday said it planned to eliminate 3,000 jobs, and shook up its corporate and investment bank after a dismal quarter at that unit led to a 32 percent drop in overall profit.The second-largest U.S. bank said a majority of the cuts will be in corporate and investment banking, and the rest elsewhere. The cuts amount to 1.5 percent of the bank's 198,000-person workforce.

The U.S. factory sector and the job market showed surprising weakness in data released on Thursday, raising concerns the Federal Reserve may need to deliver more interest rate cuts to shore up the economy.

U.S. employers added 110,000 jobs in September and August's job losses were revised into a gain in a Labor Department report on Friday that lifted some worry about a recession in the near term.

Treasury debt prices plunged on Friday after a much stronger reading on the labor market suggested the Federal Reserve might not need to cut interest rates later this month.

U.S. employers added 110,000 new jobs in September and hiring in the two previous months was revised up strongly, the government said on Friday in a report showing a more resilient labor market than previously thought. The surprisingly robust report on monthly hiring outside the farm sector sent bond prices higher and stock futures soaring.

As the economy winds through housing troubles and turmoil in credit markets, the picture emerging from data measuring the health of the job market is clouded.Firms are showing a reluctance to lay off workers at the same time they are apprehensive about hiring new ones, creating a puzzling picture, economists say. Usually, low layoffs coincide with robust hiring.

As the U.S. economy winds through housing troubles and turmoil in credit markets, the picture emerging from data measuring the health of the job market is clouded. Firms are showing a reluctance to lay off workers at the same time they are apprehensive about hiring new ones, creating a puzzling picture, economists say. Usually, low layoffs coincide with robust hiring.

Sales of new homes plunged in August and prices posted their biggest year-on-year drop in nearly 37 years, the U.S. Commerce Department said on Thursday, underlining the depth of problems facing the housing sector.

A drop in July payrolls may lead to aggressive interest-rate cutting.

EarthLink Inc said on Tuesday it will cut about 900 jobs, or nearly half its staff, as part of a restructuring to reduce costs at the Internet service provider.