NPR's business news begins with more job cuts at Bank of America.
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INSKEEP: The Wall Street Journal reports that the nation's second-largest bank is planning about 2,000 layoffs at its investment banking, commercial banking and wealth management units. These cuts are notable because they include high-earning employees in operations that account for most of Bank of America's profits since the financial crisis.
In a new report, the employment firm Challenger, Gray and Christmas predicts more jobs for teenagers this summer. While the jobs picture is improving, CEO John Challenger says teen hiring is still several years away from returning to pre-recession levels.
Wal-Mart faces many questions after The New York Times reported that the company's expansion in Mexico involved systematic bribery. It is not, however, the first corporation to face this problem.
DAVID GREENE, HOST:
Years ago, Siemens - the giant German manufacturing firm - faced an even bigger scandal. Siemens is a little like General Electric. It seems to make everything everywhere, from security equipment to locomotives.
South Sudan is the country that voted to break away from Sudan. They've been jostling for control of border zones, including oil fields. And just as the two sides were sitting down to negotiate, fighting broke out.
The average caregiver is 49 years old. Cheryl Matheis, senior vice president for policy at AARP, tells Steve Inskeep when a worker has to leave their job to care for a relative, they lose on average $325,000 in lifetime income — from lost wages, Social Security and pensions.