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BNP Paribas pleads guilty to violating U.S. sanctions against Sudan, Iran and Cuba

BNP ParibasLots of forms of financial skulduggery can be described as "sophisticated," but not all of them are. A classification might be:

If you do some complicated stuff in such a way that you'd have a plausible case that you're following the rules, even if the authorities knew about all your complicated stuff, then that's a "sophisticated" way to evade the rules.
If you just, like, use Wite-Out to conceal the bad stuff that you're doing, then it's something else, even if you use a lot of Wite-Out and in complicated ways.

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Chicago lays off 1,150 teachers and school staff as enrolment dwindles

Rahm EmanuelNearly 1,200 Chicago teachers and staff are being laid off due to declining enrollment in one of the nation's largest districts, Chicago Public Schools (CPS) officials said last week.

CPS officials said 1,150 employees received pink slips, and among them 550 were teachers. The other 600 staffers included teacher assistants, clerks and part-time security guards.

Chicago Teachers Union (CTU) president Karen Lewis slammed the city's mayor, former White House chief of staff Rahm Emanuel, and its board of education, calling the decision "yet another brutal attack on public education in Chicago".

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Paulson, Bloomberg Agree Global Warming Is Risky Business

harry paulsonThe U.S. economy faces losses that may run into the hundreds of billions of dollars this century as the changing climate erodes coasts and threatens agriculture, according to a report today by a bipartisan group of political and financial leaders.

The report from the Risky Business Project urges businesses and industrial companies to curb carbon emissions in an effort to slow global warming. The initiative was spearheaded by former U.S. Treasury Secretary Henry Paulson, former New York Mayor Michael Bloomberg and billionaire investor Tom Steyer.

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Goldman, Bain to pay $121 million in LBO collusion settlement

Goldman, Bain to pay $121mGoldman Sachs Group Inc (GS.N) will pay $67 million and Bain Capital Partners LLC will pay $54 million to settle their portions of a lawsuit accusing several big private equity firms of conspiring not to outbid each other in takeovers.

The preliminary settlement with former shareholders of companies acquired in leveraged buyouts from 2003 to 2007 was disclosed in papers filed on Wednesday in Boston federal court, and requires approval by U.S. District Judge William Young.

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Homeless college students and the fight to escape poverty through education

Homeless college students in USA month before his 18th birthday, Jeffrey Williams found himself homeless. The condition did not come out of blue, as Williams, who was adopted at the age of four, was warned about the fact by his adoptive parents, who said they would not support him after he graduated high school.

"They kind of told me, growing up, that this would happen, but I didn't think that this was actually going to happen,” says Williams. It was the summer of 2008 and Williams, a varsity football player who had just graduated high school, had two months to go before starting college – and a spot on the football team – at Wayne State University in Detroit, Michigan.

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Walmart moms protest 'poverty' wages

Walmart moms protest shareholdersA group of Walmart workers will present demands for better pay and benefits to management at the company’s annual shareholder meeting in Bentonville, Arkansas on Friday, the activist group OUR Walmart said in a statement.

The move comes after a week of rallies across the country by labor activists, union representatives, and workers in cities including Chicago, Dayton, Ohio and Baton Rouge, La.

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McDonald's CEO: 'We Will Support' A Minimum Wage Hike

Don ThompsonMcDonald's might finally have figured out that paying its low-wage workers more would actually be a good thing for McDonald's.

McDonald's CEO Don Thompson recently suggested his company would support a bill, proposed by President Barack Obama, raising the federal minimum wage to $10.10 an hour from $7.25. Such a wage hike likely wouldn't satisfy his workers, some of whom recently stormed the company's Oak Brook, Ill., headquarters demanding $15 an hour. But it would be a noticeable shift in attitude for the world's biggest restaurant chain, which has so far been neutral as the debate about higher wages has roiled around it.

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