Yellen says job market hampered

JACKSON HOLE Wyo. - U.S. labor markets remain hampered by the effects of the Great Recession, and the Federal Reserve should move cautiously in determining when interest rates should rise, Fed Chair Janet Yellen said on Friday in a defense of her policy approach. | Video

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U.S. labor market less flexible than in 1990, economists warn

JACKSON HOLE Wyo. - The U.S. labor market has become steadily less dynamic since 1990, with workers seemingly locked into particular jobs and a more sluggish process of job creation and destruction in the private sector, according to research to be presented to global central bankers on Friday.

7:06am EDT

Valeant, Ackman to submit Allergan special meeting request-CNBC

- Valeant Pharmaceuticals International Inc and Pershing Square Capital Management will submit a request on Friday to Allergan Inc for a special shareholders meeting, sources told CNBC television.

10:05am EDT

GM reviewing timing of Russia plant expansion

MOSCOW - General Motors Co said on Friday it was reviewing the timing of the expansion of its Russian plant near St Petersburg because of a slump in the auto market.

10:53am EDT

Russia keeps up pressure on McDonald's with new sanitary inspections

MOSCOW - Russian authorities extended their scrutiny of McDonald's to several regions on Friday, carrying out inspections at a number of restaurants run by the U.S. fast-food chain, amid a standoff with the West over Ukraine.

9:29am EDT

Germany clears $6.9 billion RWE unit sale to Russian investor

FRANKFURT/BERLIN - Germany's economy ministry approved the sale of utility RWE's oil and gas unit DEA to a Russian investor despite tensions between Russia and the West over the Ukraine crisis.


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