Hewlett-Packard says it’s cutting up to 16,000 jobs. That’s on top of tens of thousands of layoffs already announced. These deeper jobs cuts signal that a company once famous for breakthroughs in the lab, hasn’t yet figured out how to reinvent itself.
H-P is a dominant player in making PC’s. But that’s a collapsing market, devastated by competition from tablets and smartphones. H-P also sells servers, but that area too is changing, with cloud computing currently fashionable.
CEO Meg Whitman took charge of the troubled company in 2011. She’s under pressure to show more results from her turnaround plan.
U.S. and European Union officials wrap-up the latest round of talks today as they negotiate a free trade deal called the Transatlantic Trade and Investment Partnership.
Boosters like Fran Burwell with the Atlantic Council see an economic upside for the U.S. economy.
“Every state gains in terms of its exports to the EU. There will be about 740,000 new jobs created in the United States over 10 years,” says Burwell.
Environmental activists like Michelle Chan with Friends of the Earth see a potential downside.
Chan says, “This transatlantic trade deal will really focus on deregulation. With the idea being that environmental and public health protections themselves can be construed as barriers to trade.”
The WTO has rejected Canada's appeal of a ban keeping pelts and other products from the country's seal hunt from being imported into Europe. The ban was brought on moral grounds, the EU says.
Activists say that after the attack, warplanes dropped leaflets with a message to rebels: "You have 10 hours to surrender: either leave your arms and return to the bosom of the nation, or go to hell."
After meeting with leaders of the ousted government Friday, the army detained former prime minister Yingluck Shinawatra. The junta has installed several rules aimed at keeping public order.
Also: Amazon has removed the "Buy" buttons from a number of Hachette titles; Hassan Blasim's short story collection The Iraqi Christ has won the Independent Foreign Fiction Prize.
Conflicts arise when Israeli settlement or security construction cuts into land, often owned by local churches, where Palestinians live or work. Local Christians hope Francis will push their cause.
Today's babies are part of the first generation with their entire lives documented on social media. Researchers are finding lessons in the streams of their photos.
Bill Haslam signed into law a measure that allows the state to opt for the electric chair if lethal injection drugs are unavailable.
Georgia GOP Sen. Johnny Isakson says if the judicial nomination of Michael Boggs gets derailed, it won't unravel the deal he worked out with the White House on federal bench nominees.
Donald Thompson told an audience at the company's annual meeting that McDonald's has a legacy of providing opportunities to employees.
Donovan, 32, is the team's all-time leader in scoring and assists. Twenty-three players were named to the roster for the tournament, which starts next month in Brazil.
Fifty senators signed a letter to NFL Commissioner Roger Goodell pushing for a name change for Washington's professional football team, a sign the issue isn't going away.
Diabetes increases a person's risk of cardiovascular disease, but for women that risk is 40 percent higher, a study finds. Just why that's happening is a mystery.
Health officials say online restaurant reviews can turn up unreported foodborne illness outbreaks. In New York City, Yelp reviews led officials to three restaurants with food handling problems.
Last-minute lobbying by the Obama administration overcame opposition to the nomination of David Barron, author of a controversial legal memo regarding drone policy.
Texas is leading the way in U.S. population growth. The Census Bureau said Thursday that seven of the top 15 fastest-growing cites are in Texas. They’re clustered around big oil and gas boomtowns like Dallas and Houston, or tech hubs like Austin.
Sometimes population equals prosperity.
“They go hand in hand,” says Luis Bettencourt, who studies cities at the Santa Fe Institute. “You add a person, and you get more money per capita.”
Income growth in the booming suburbs of Austin is high because of the types of jobs there. But Bettencourt says there are caveats. This past decade wrecked all the economic models; the housing bubble was making people move.
“There was cheap housing available, and the actual construction of that housing created jobs,” says Robert Puentes, a senior fellow at the Brookings Institution’s Metropolitan Policy Program, which monitors cities' economic growth. But some economists say even without the housing bubble, the theory that growth begets growth is off. Consider Las Vegas. People are moving there for jobs.
“Naturally if there’s a lot of hiring you would expect people to migrate in," says Paul Gottlieb, an economist at Rutgers. "But the jobs have not necessarily been very high paying.”
Gottlieb says, sure you have new people and new jobs, but they don’t have fat wallets. They don’t bring growth and prosperity. Gottlieb says, in some big, northeastern cities, income is rising much faster than population.
Two pearls of wisdom from big time corporate CEOs in the news:
Pearl number one comes from Chip Bergh. He runs Levi Strauss and Company, famous of course for its blue jeans. Mr. Bergh says that it's OK to not wash your denim garments.
He's trying to save the world. Levi's has been upfront about wanting to cut back on the water used in the making of its jeans. Bergh and Levi says you can freeze 'em, instead. Which will kill the bacteria... and the smell.
Pearl number two comes from Fiat CEO Sergio Marchionne. He's a tad upset about American rules forcing car makers to build a certain quota of battery powered electric vehicles. Speaking about the Fiat 500e, Marchionne says, "I hope you don't buy it, because every time I sell one it costs me $14,000."
So, okay. I won't.
Officers are wearing video cameras to record interactions with the public. The city's troubled police department is trying to prove a commitment to transparency, as it tries to end federal monitoring.