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Entries by Lila Shapiro from 08/2011

Debt Ceiling Deal A Major Setback For American Labor Market

Posted 08.01.2011 | Business

For American workers -- both those employed and those looking for work -- the deal reached over the weekend to stave off an American default could spe...

Layoffs Surge As Recovery Shows Little Sign Of Momentum

Posted 08.03.2011 | Business

The early days of the recession were characterized by massive layoffs across industries, and while economists caution that the labor market isn't ther...

U.S. Adds 117,000 Jobs In July As Jobless Rate Falls, Beating Expectations

Posted 08.05.2011 | Business

NEW YORK -- A day after the Dow Jones Industrial Average had its worst drop since the financial crisis, fresh data showed a slightly less pessimistic ...

Verizon Labor Strike: Defense Of Middle Class Jobs, Workers Claim

Posted 08.07.2011 | Business

NEW YORK -- Outside Verizon corporate headquarters in downtown Manhattan, a group of more than 40 union employees gathered wearing red shirts and plac...

Union Turf War Distracts From Decline Of Organized Labor In U.S.

Posted 08.12.2011 | Business

While millions of Americans work jobs with stagnating wages, poor job security and no union representation, two labor unions are waging a turf war ove...

Wal-Mart Profits Rise, But U.S. Sales Still Slump

Posted 08.16.2011 | Business

NEW YORK — Wal-Mart Stores Inc. posted a second-quarter profit increase of 5.7 percent on Tuesday and raised its outlook for the year as its res...

Harbinger Group The Next Berkshire Hathaway?

Posted 08.16.2011 | Business

In a four-page letter, Christopher P. Mittleman, the chief investment officer at a small New York money manager, likens the embattled hedge fund billi...

Allstate Sues Goldman Sachs Over Toxic Investments

Posted 08.16.2011 | Business

Allstate Corp. is suing Goldman Sachs Group Inc. claiming the broker fraudulently sold it more than $123 million in mortgage-backed securities in 2006...

Rising Stock Prices Push Oil Near $88 A Barrel

Posted 08.17.2011 | Business

NEW YORK — Oil rose Wednesday as traders focused on an unexpectedly large drop in gasoline supplies and a weaker dollar. Benchmark West Texas I...

Wells Fargo To Try $3 Monthly Debit Card Fees This Fall

Posted 08.17.2011 | Business

NEW YORK -- Wells Fargo plans to test a $3 monthly fee for its debit cards starting this fall. The San Francisco-based bank said the fee will be appl...

Stocks Keep Falling As Traders Worry About Looming Recession

Posted 08.20.2011 | Business

NEW YORK -- A growing belief that the U.S. economy may be headed toward recession gave the stock market its fourth straight week of losses. The anxie...

Farm Aid Shrinks As U.S. Debt Deal Means No Bailout

Posted 08.20.2011 | Business

Extreme weather that is reducing yields of corn, wheat, cotton and soybeans is also taking a toll on smaller crops, leaving pockets of losses in a far...

Boomers Will Be Pumping Billions Into Anti-Aging Industry

Posted 08.20.2011 | Business

NEW YORK -- Baby boomers heading into what used to be called retirement age are providing a 70 million-member strong market for legions of companies, ...

UAW Divided As Workers Seek Payback In Contract Negotiations

Posted 08.25.2011 | Business

LORDSTOWN, Ohio -- On a recent rainy morning, community leaders gathered under umbrellas in front of the local General Motors plant to commemorate a r...

Hurricane Irene 2011: New Yorkers Stock Up On Supplies

Posted 08.26.2011 | Business

NEW YORK -- At a Home Depot in midtown Manhattan, the shelves of flashlights, torches, lanterns and night lights were empty. The battery supply was dw...

Burning Man To Become Nonprofit

Posted 08.28.2011 | Business

TENS of thousands of volunteers are gathering to build a city in a Nevada desert that is notorious for triple-digit temperatures, high winds and blind...

Hurricane Irene: Banks Scramble To Add Cash As Storm Approaches

Posted 08.28.2011 | Business

Cash is king in a hurricane, but getting it is another question entirely. Banks across New York City are making provisions so people will be able to ...

Energy-Efficient Homes Seem To Sell Faster, Fetch Higher Prices

Posted 08.28.2011 | Business

Home energy efficiency and sustainability have been major policy priorities for the Obama administration, but lurking in the background are two consis...

Gloom Settles On Central Bankers

Posted 08.28.2011 | Business

JACKSON HOLE, Wyo.--After years fighting crises and pumping money into the financial system, the world's central bankers are coming to grips with the ...

Youth Unemployment Crisis Has Longterm Implications For Teens, The Economy

Posted 08.29.2011 | Business

As we look forward to this Friday's August unemployment snapshot from the Department of Labor, one part of the picture is already in focus: this was t...