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AMR files for Bankruptcy!

American Airlines and its parent company AMR Corp filed for bankruptcy on Tuesday after failing to win a labor deal with pilots and suffering from mounting fuel costs. AMR had been the only major U.S. carrier to avoid bankruptcy in the past decade. Its rivals used bankruptcy to restructure their labor agreements and cut costs. That left AMR, the third-largest ... Read More »

Indian IT companies are the worst Paymaster reveals new study

Indian IT companies are the world’s worst paymasters with their mid-to-senior level staff getting an average salary of $36,120 (about Rs 18.5 lakh) per annum – less than one-fourth of the IT pay package at globally top-paying Swiss companies, reveals a study titled ‘World wide IT Salary 2011′. The study, conducted by global recruitment service provider MyHiringClub.com, found that India ... Read More »

JPMorgan to pay $3.62 million fine

A U.S. regulator ordered JPMorgan Chase & Co to pay $3.62 million in fines and reimbursement for recommending investments linked to junk bonds to unsophisticated customers who might not have been able to take on the risks. The Financial Industry Regulatory Authority said brokers at Chase Investment Services Corp recommended that customers with little investing experience and “conservative” risk tolerance ... Read More »