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Macy's to cut 2,500 jobs in reorganization

US department store giant Macy's said Wednesday it will eliminate 2,500 jobs as a cost-cutting move, equivalent to about 1.4 percent of its workforce. The move is part of an initiative to "sustain profitable sales growth in the years ahead," Macy's said in a statement after the close of the market. "We have identified some specific areas where we can improve our efficiency without compromising our effectiveness in serving the evolving needs of our customers," said Macy's chief executive Terry Lundgren.

Plane from Canada slides off runway at JFK airport; flight operations suspended because of ice

NEW YORK, N.Y. - Authorities say a plane from Toronto landed safely at Kennedy International Airport in New York City before sliding into snow as it turned onto a taxiway. Federal Aviation Administration spokeswoman Kathleen Bergen says it occurred at 8 a.m. Sunday after Delta Connection 4100 landed. She says the CRJ2 aircraft was turning off the runway onto a taxiway when it slid into the snow. No injuries were immediately reported. The airport has suspended operations for domestic and international flights because of icy runways, but the airport will remain open.

Citi to move NYC headquarters to lower Manhattan: report

(Reuters) - Citigroup Inc <C.N> will relocate its global headquarters to lower Manhattan as part of a $1 billion lease and renovation deal, Crain's New York Business reported on Thursday. According to Crain's, the bank would move from 399 Park Avenue in New York City, where it has been based for decades, to Greenwich Street, where Citigroup signed a more than $1 billion deal to renew its lease plus gut and renovate a twin-building complex that it already occupies at 388 and 390 Greenwich Street.

American Air, Cantor Fitzgerald settle 9/11 suit for $135 million

By Joseph Ax NEW YORK (Reuters) - American Airlines Group Inc and its insurers have agreed to pay $135 million to Cantor Fitzgerald to settle the financial services company's lawsuit over business and property losses suffered in the September 11 attacks on the World Trade Center, in which 658 of its employees were killed.

Cantor Fitzgerald, American Airlines settle 9/11 lawsuit

By Jonathan Stempel NEW YORK (Reuters) - Cantor Fitzgerald has agreed to settle a lawsuit against American Airlines Group Inc and its insurers over business and property losses stemming from the September 11, 2001, attacks on the World Trade Center, in which the Wall Street company lost 658 employees. The settlement in principle averts a trial that had been slated to begin next month, and was disclosed by lawyers for both companies at a hearing on Thursday in the U.S. District Court in Manhattan. Terms were not disclosed.

Initial public offerings scheduled to debut next week

NEW YORK, N.Y. - The following is a list of initial public offerings planned for the coming week. Sources include Renaissance Capital, Greenwich, CT (www.renaissancecapital.com) and SEC filings. Week of December 9: Aramark Holdings Corp. - Philadelphia, 36.3 million shares, priced $20 to $23, managed by Goldman Sachs, J.P. Morgan, and Credit Suisse. Proposed NYSE symbol ARMK. Business: Provides food, facilities and uniform services to a variety of commercial clients.

High-rise developers win court protection in 9/11 WTC case

By Jonathan Stempel NEW YORK (Reuters) - A federal appeals court in New York has given developers and builders of high-rises and other buildings added protection from lawsuits over property losses linked to terrorism, in a case stemming from the September 11, 2001 attacks.

High-rise developers win court protection in 9/11 WTC case

By Jonathan Stempel NEW YORK (Reuters) - A federal appeals court in New York has given developers and builders of high-rises and other buildings added protection from lawsuits over property losses linked to terrorism, in a case stemming from the September 11, 2001 attacks.

At least four dead, 63 injured in New York train derailment

NEW YORK, Dec. 1 (Xinhua) -- At least four people were killed and 63 others were injured when a passenger train derailed in New York City borough of Bronx early Sunday, according to local media reports. The Official Fire Department City of New York (FDNY) has confirmed that at least four people were killed and 11 more are in critical condition. Additionally, six people have serious but non-life-threatening injuries, and another 46 people suffered minor injuries.

New York train derails, five cars on side: Fire Dept

A passenger train bound for New York's Grand Central Station derailed in the Bronx Sunday with five cars falling onto their side, the city's Fire Department said on Twitter. The accident occurred near Palisade Avenue near the Spuyten Duyvil railroad station, next to the Hudson River, the tweet said, without giving other details. bur/adm/mfp
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