Business briefs [Telegraph-Herald (Dubuque, IA)]
(Telegraph-Herald (Dubuque, IA) Via Acquire Media NewsEdge) Obama to nominate Fed's
Janet Yellen to replace Bernanke
WASHINGTON - President Barack Obama will nominate Federal Reserve vice chair Janet Yellen to succeed Ben Bernanke as chairman of the nation's central bank, the White House said Tuesday. Yellen would be the first woman to head the powerful Fed, taking over at a pivotal time for the economy and the banking industry.
Bernanke's term ends Jan. 31.
Government forecasts most heating bills to rise this winter
Chillier weather and slightly higher fuel prices might make this winter more expensive for U.S. residents. The government forecast Tuesday that most households will pay more for heat this winter.
Heating oil users will catch a slight break, but still pay near- record prices to keep warm. Prices for natural gas, electricity and propane should be higher, the primary reason that more than 90 percent of homes will incur higher heating expenses.
Alcatel-Lucent to cut 10,000 jobs
PARIS - Telecommunications equipment maker Alcatel-Lucent SA said Tuesday that it plans to cut 10,000 jobs worldwide over the next two years, the latest cost-cutting drive from the loss-making company.
The job cuts are part of a restructuring plan to make the French- American company more competitive.
The Associated Press
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