The United States Post Office is facing possible insolvency if Congress fails to intervene to shore up the troubled institution. It faces a $5.5 billion shortage, and will have to cut services, raise rates, and/or lay off workers. The last option would violate its contract with the postal workers’ union, and would require congressional action.
In other news, Qatar injected €500 million into two major Greek banks, allowing them to merge. With their outlay, the investors acquired a 17% interest in the newly-formed bank.
To see the headlines and the articles, open the full news post.
Thanks to C. Cantoni, Derius, Insubria, Kitman, Nilk, RRW, T, Vlad Tepes, and all the other tipsters who sent these in.
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