Bloomberg (06/19/14) Lorraine Woellert
The number of people applying for unemployment benefits in the week ended June 14 fell by 6,000 to 312,000, according to the U.S. Department of Labor. The 50 economists surveyed by Bloomberg had forecast claims of 313,000. The four-week moving average of new claims dropped by 3,750 to 311,750.
Buyers of a business generally expect sellers to be responsible for certain liabilities relating to when the seller owned its business—a concept mergers and acquisitions professionals refer to as indemnification. Indemnification is one of the most heavily negotiated, and potentially most significant, provisions of a purchase agreement, and understanding the terminology common to such agreements is essential when negotiating a deal. Attorney Paul Pincus of Ortoli Rosenstadt LLP explains what sellers are liable for, how a seller’s liability may be limited, and how buyers may seek to fund potential indemnity claims.
New York Times (06/19/14) Binyamin Appelbaum
The U.S. Federal Reserve said on June 18 that it would reduce monthly bond purchases by $10 billion in July to $35 billion as planned, with purchases to end this fall. Noting that economic activity has rebounded in recent months, the central bank also said it would probably begin increasing its benchmark interest rate in 2015.
The Fed reported improvements in labor markets, household spending, and business investment. However, Fed Chairwoman Janet Yellen said recovery would continue to be affected by damage from the recession and expressed concern that some unemployed people would be permanently excluded from the job market.
The Conference Board (06/19/2014)
The U.S. Conference Board Leading Economic Index for May rose 0.5% to 101.7, the fourth consecutive monthly increase. There was a 0.3% increase in April and a 1.0% increase in March. The economy may be moving toward a more robust expansion, and the biggest challenge going forward will be maintaining such growth. The Conference Board’s Coincident Economic Index went up 0.3% in May to 109.0, and the Lagging Economic Index rose 0.4% to 123.8.
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Staffing World 2014, the largest, most comprehensive convention and expo in the staffing, recruiting, and workforce solutions industry, takes place Oct. 13–15 at the Gaylord National Resort and Convention Center in metro Washington, DC.
You’ll hear from keynote speaker Bill Strickland, founder of the Manchester Bidwell Corp., which manages a community center for job training and the arts in the economically depressed Pittsburgh neighborhood where Strickland grew up. His inspiring stories and people-building strategies could change the way you do business.
Get more information about Strickland and the other business leaders scheduled to be at the convention at staffingworld.net.
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