Yellen Says the Economy is Improving; Barclay's Cuts 12,000 Jobs
The Dow rallies for its first four-day winning streak of 2014. Janet Yellen, the chair of the Federal Reserve announced that she believes that the economy is improving at a moderate pace. But she did downplay the recent slowdowns in job growth saying that it may be to early to jump to any conclusions. Britain's second-largest bank, Barclays, announced that they will be cutting 12,000 jobs and around half of the job cuts will occur in Britain. Despite announcing job losses the bank said that it increased bonus payments by 10% in 2013. Despite CVS's (CVS) recent announcement that the will no longer sell tobacco products in their stores they are standing by the sales forecast for 2014 even though tobacco products brought in nearly $2 billion in revenue last year.
Word on the Street
- Why raising the minimum wage would be good for America.
- Former Apple (AAPL) designer dishes on what it is like to work there.
- Whole Foods (WFM) partnering with Square to shorten lines.
- CVS (CVS) stands by 2014 sales forecast.
- House votes to restore pension increases for military retirees.
- Rackspace Hosting (RAX) stock declines after earnings, CEO retires.
Published on Feb 11, 2014By InvestorGuide Staff