Siemens to Slash 4,000 Jobs

Debate rages over fundamental shift

(NEWSER) - Countries across the globe are divided—and it's only a matter of time. Some, including Britain and China, want to retain a special "leap second" occasionally added to the calendar to keep atomic clocks in line with the Earth's rotation. The US, France, Germany, and others, however, want to ditch the second . The matter is up for debate in Geneva today, the BBC reports, and barring an agreement among 200 countries, it could go to a vote. But "this is not a technical issue, it is more a diplomatic one," says an official with the International Telecommunication Union. More»

This essential question needs to be answered, but it's complex

(NEWSER) - We toss around the phrase all the time, but how do we define what makes a “good job” good? It’s a key question—and a complex one—as we look to the future of our economy, writes Michael Lind in Salon . Among the factors:

• Unions: We often call manufacturing jobs “good” ones, but that wasn’t the case until they were unionized. Service-sector jobs, meanwhile, are often seen as "bad" jobs, but they might see huge benefits from unionization.

Soaring unemployment an 'unacceptable outcome,' says Ben Bernanke

(NEWSER) - Ben Bernanke offered a full-throated defense of the Fed’s recent actions in a speech in Frankfurt today, saying the $600 billion quantitative easing plan was essential to reducing joblessness. “On its current economic trajectory, the United States runs the risk of seeing millions of workers unemployed or underemployed for years,” he said. “As a society, we should find that outcome unacceptable.” Keeping the US economy chugging, he argued, is vital for the global economy. More»

Germany blasts US currency policy ahead of summit

(NEWSER) - Days ahead of a G20 summit, President Obama has weighed in on an international debate over currency, as the US seeks to cull huge German and Chinese trade surpluses, the Wall Street Journal reports. At a New Delhi press conference, Obama seemed supportive of the Fed’s decision to buy $600 billion in Treasury bonds. “The Fed's mandate, my mandate, is to grow our economy,” he said. “That's good for the world as a whole.” More»

Rebound to spur calls for currency revaluation

(NEWSER) - China's exports rose 17.7% in December, ending a 13-month drop in trade and stealing the title of 'world's largest exporter' from Germany. The year-on-year surge is seen as a sign that China's hard-hit manufacturers have made it through the financial storm. But it's not all good news for China, as the rebound is sure to reopen the debate over the country's currency. More»