Citigroup Inc. is increasing base salaries for many of its employees — reportedly by as much as 50 percent for some workers — as it restructures its compensation program amid new restrictions on bonus payments.
With signs the economy is improving but still fragile, Federal Reserve policymakers are considering whether some programs intended to drive down rates on mortgages and other consumer debt should be slowed down.
Drugstore operator Rite Aid Corp. said Wednesday it narrowed its fiscal first-quarter loss by closing stores and trimming costs, but it expects a greater deficit for the year because of refinancing expenses.
Social-networking site MySpace said Tuesday it plans to cut 300 jobs, or two-thirds of its overseas work force, in an effort to rein in costs and focus on countries where it has many users and better business opportunities.
A Washington Metro train slammed into the rear of another during the evening rush hour on Monday, killing at least six people and injuring at least 76 others in the worst disaster in the 33-year history of Washington's rapid transit system.
While progress is being made in a hurricane-ravaged Haiti, the country remains in need of assistance, including temporary relief from deportation for thousands of undocumented Haitians living in the United States, a South Florida's congressional delegation said Monday after a daylong visit to the Caribbean nation.