Fifty thousand General Motors retirees face destruction of benefits: The bankruptcy of General Motors, and the organization of a “new” auto company in its place, is being carried out at the expense of tens of thousands of active and retired auto workers, along with dealerships, other small businesses, and entire communities.
French workers win redundancy fight: The 53 staff at JLG Industries in Tonneins will receive $42,000 for being made redundant after placing gas canisters in front of the plant and threatening to detonate them.
Regulators shut banks in Calif., Ga. and SD: Regulators on Friday shut two banks in California and two smaller banks in Georgia and South Dakota, boosting to 57 the number of federally insured banks to fail this year.
American Express halts UK pension payments: The company has effectively cut the pay of its 6,000 UK staff by stopping payments to its stakeholder pension scheme
Unemployment tops 10 percent in 16 states in June : The national unemployment rate is 9.5 percent, a 26-year high, and is expected to hit 10 percent by year-end.
Legal immunity set for swine flu vaccine makers: Vaccine makers and federal officials will be immune from lawsuits that result from any new swine flu vaccine, under a document signed by Secretary of Health and Human Services Kathleen Sebelius, government health officials said Friday.
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