Bank of America has announced that it is planning to cut anywhere between 30,000 and 35,000 jobs over the next three years. This comes after the completion of its takeover of the company Merril Lynch.
The job reductions could affect around 11% of the combined workforce of both companies, which amounts to about 308,000 people. The cuts are aimed at saving US$7 billion of annual costs.
Meles Zenawi, the Prime Minister of Ethiopia, has told the parliament that African Union (AU) peacekeepers stationed in the east African country of Somalia want to leave the country by the end of the year.
They have requested that Ethiopian troops that are planning to leave the country at the end of the year to help them withdraw from Somalia's capital of Mogadishu. There are some 3,200 troops from Uganda and Burundi covering sites in that city.
The withdrawal of the armed forces, however, could leave the area vulnerable to an insugent assault.
The aeroplane manufacturer Boeing has announced that there will be another delay in the launch of its 787 "Dreamliner" aircraft. The postponement has been blamed on production problems and strikes by machinists.
The aeroplane's first flight has been put off until the second quarter of 2009, and will not start shipping until a year later. This is the 787's fourth delay, and the aircraft is already two years behind schedule.
Boeing suggests that its financial outlook for 2009 will affected by the postponement.
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