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FinMin announces austerity steps
Amid the economy growing the slowest in nine years during 2011-12, the government on Thursday announced various austerity measures to cut expenditure and instil confidence among investors. The finance ministry has asked all government ministries and departments to help cut non-Plan expenditure by 10 per cent. It also barred these from holding conferences in five-star hotels, buying new vehicles and

Windstream to cut up to 400 management jobs
Phone and Internet provider Windstream Corp. says it will cut up to 400 management positions as it restructures the company.

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Ore. county releasing inmates amid budget cuts
A cash-strapped county in Oregon's timber region is releasing inmates it can't afford to keep behind bars after residents rejected a property tax hike to close a $12 million budget gap.

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Olympus to cut 2,500 jobs, sell equity stake - media

Japan's Olympus Corp, hit by a $1.7 billion fraud scandal, plans to shed 2,500 workers and sell an equity stake to either Sony Corp or Panasonic Corp in a bid to bolster its finances, local

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UBS cuts Tata Motors target price after earnings

UBS cut its 12-month price target for Tata Motors to 270 rupees from 320 rupees, maintaining its "sell" rating after the auto maker's weaker-than-expected operating earnings. UBS believes volume

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Olympus to cut 2,500 jobs in turnaround bid - Nikkei

Japan's Olympus Corp plans to cut 2,500 jobs, or roughly 7 percent of its workforce, the Nikkei business daily said, as the medical equipment maker restructures its business to strengthen its

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