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More to U.S. oil than North Dakota, EIA says
PARIS, July 27 (UPI) -- French telecommunications giant Alcatel-Lucent said it would cut 5,000 jobs as a cost saving measure.
The firm said the loss of 5,000 employees out of 72,500 it employs worldwide is part of a restructuring plan intended to save $1.5 billion by the end of 2013, Radio France International reported Friday.
The layoffs, plus job cuts announced at Air France and at pharmaceutical firm Sanofi, are a setback for the government of President Francois Hollande, which has promised to increase employment, the report said.
Automaker Peugeot-Citroen recently announced it would cut 8,000 jobs.
Unemployment is close to 10 percent in France, with nearly 3 million members of the workforce unemployed.
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MOSCOW, May 24 (UPI) --
Russia's decision to suspend its use of an Azerbaijani oil pipeline isn't the result of political tensions, Foreign Minister Sergei Lavrov says.
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MANILA, May 24 (UPI) --
The Philippines is determined to spend $1.8 billion on military upgrades -- mostly naval -- to protect the country against "bullies" in its territorial waters.
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Properties repossessed by lenders in the first quarter took an average of 477 days to complete the foreclosure process, up from 414 days in the previous...
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Nobody likes spending cuts but the champion of that attitude is clearly President Barack Obama, who seems to have a very clear pain-avoidance agenda.
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