Originally published on Wed December 5, 2012 8:14 pm
Suffer from insomnia? The droning rhythm of a Chinese Communist official reading a work report out loud will likely do the trick.
It certainly does for many party members: Just 10 minutes into any party meeting, look down the serried ranks of the attendees, and you'll spot the dozers and snoozers, napping away, heads lolling lazily toward their neighbors.
Originally published on Wed December 5, 2012 1:48 pm
Saying it needs to "further reduce expenses and improve efficiency across the company," Citigroup announced today that it is eliminating about 11,000 jobs — 4 percent of its global workforce.
The banking giant also said it is expects to take "pre-tax charges of approximately $1 billion in the fourth quarter of 2012 and approximately $100 million of related charges in the first half of 2013."