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J&J board picks CEO to replace retiring chairman

Submitted by Fox First at Ten on November 30th

NEW BRUNSWICK, N.J. (AP) - Johnson & Johnson Chairman Bill Weldon will step down from that post in late December and the world's biggest maker of health products has picked new CEO Alex Gorsky to replace him. The New Brunswick, N.J., company had named Gorsky, 52, as CEO earlier this year,

US futures flat; consumer spending dips

Submitted by Fox First at Ten on November 30th

NEW YORK (AP) - U.S. stock futures are relatively flat after a government report showing that consumers cut back on spending last month with no growth in personal income. Dow Jones industrial futures are up 7 points to 13,028. The broader S&P futures have added 0.30 points to 1,416. Nasdaq

Sandy slowed US consumer spending and pay in Oct.

Submitted by Fox First at Ten on November 30th

By By MARTIN CRUTSINGERAP Economics Writer WASHINGTON (AP) - Americans cut back on spending last month while their income remained flat. The weakness in part reflected disruptions from Superstorm Sandy that could slow economic growth for the rest of the year. The Commerce Department said Friday

Italian government moves to keep steel plant open

Submitted by Fox First at Ten on November 30th

By By COLLEEN BARRYAssociated Press MILAN (AP) - The Italian government on Friday approved emergency measures to prevent the closure of Europe's largest steel mill, which has been engulfed in a health and environmental scandal, provided that the operators invest at least €3 billion (€3.9

A glance at eurozone unemployment rates

Submitted by Fox First at Ten on November 30th

By By The Associated Press Unemployment for the 17 European Union countries that use the euro rose to a record high of 11.7 percent in October September. Here is a breakdown of unemployment across Europe and the eurozone.

Light bulb maker Osram cutting 4,700 jobs

Submitted by Fox First at Ten on November 30th

BERLIN (AP) - German industrial conglomerate Siemens AG's light bulb unit, Osram, says it is cutting 4,700 additional jobs in its drive to save costs and phase out older technologies. Company spokesman Stefan Schmidt told The Associated Press on Friday the cuts come on top of others previously

Eurozone unemployment hits another record high

Submitted by Fox First at Ten on November 30th

By By PAN PYLASAssociated Press LONDON (AP) - Another month, another record unemployment rate for the economy of the 17 European Union countries that use the euro. Figures released Friday by Eurostat, the EU's statistics office, showed that the recession in the eurozone pushed unemployment

German retail sales drop strongly in October

Submitted by Fox First at Ten on November 30th

BERLIN (AP) - Retail sales in Germany have dropped further than expected in October, raising fears that domestic spending might not offset the country's declining exports to other European nations. The Federal Statistical Office reported Friday that retail sales declined 2.8 percent in October

Bangladesh workers protest; families of dead plead

Submitted by Fox First at Ten on November 30th

By By JULHAS ALAMAssociated Press DHAKA, Bangladesh (AP) - Hundreds of garment workers protested Friday outside a Bangladeshi factory where 112 people were killed by a fire, demanding compensation for their lost salaries, while relatives of those who did not survive gathered nearby, hoping

German Parliament approves Greek debt deal

Submitted by Fox First at Ten on November 30th

By By GEIR MOULSONAssociated Press BERLIN (AP) - German lawmakers overwhelmingly backed a deal aimed at trimming Greece's debt load and keeping the country financially afloat but the country's finance minister insisted it would be irresponsible to raise hopes of more radical debt