Post office near default? Losses mount to $5.1B
The U.S. Postal Service said Tuesday it has lost $5.1 billion in the past year, pushing it closer to imminent default on a multibillion-dollar payment and to future bankruptcy as the weak economy and increased Internet use drive down mail volume.
Paid-leave benefits lagging for working moms in U.S.
Nearly half of working women who give birth are forgoing paychecks to care for their newborns as employers become selective about granting paid leave. Lower-educated mothers are nearly four times more likely than college graduates to be denied paid maternity benefits, the widest the gap has been over the past 50 years.
SPIN METER: GOP flips on job creation for defense
The same Republicans who insist that federal spending doesn’t create jobs and should be cut in the face of staggering deficits are leading the charge against smaller military budgets because about a million defense jobs would be lost.
Employers add 80K jobs, rate dips to 9 pct.
The jobs crisis may be easing slightly on the strength of a fourth straight month of modest hiring and a dip in the unemployment rate.
- ‘Kudzu bug’ threatens soybean crop
- Applications for unemployment aid barely changed
Panetta faces lawmakers on defense cuts
Defense Secretary Leon Panetta is urging Congress to work with him on deficit-reduction-driven cuts in military spending and warning that some lawmakers’ favored programs could be on the chopping block.
Chrysler, United Auto Workers agree on contract
Chrysler Group LLC and the United Auto Workers say that they reached a tentative deal on a new four-year contract early Wednesday that creates 2,100 new jobs.
Lawmakers, White House regroup on jobs
Congress and the White House face the choice of continued fighting or a shift toward bipartisan bargaining after the Senate voted to kill President Barack Obama’s $447 billion jobs plan.
Senate Republicans likely to kill Obama jobs bill
President Barack Obama’s jobs bill, facing a critical test in the Senate, it appears likely to die at the hands of Republicans opposed to stimulus spending and a tax surcharge on millionaires.
- More Business Headlines
- Post office near default? Losses mount to $5.1B