1. POSTAL SERVICE TO STOP DELIVERING LETTERS ON SATURDAY
The U.S. Postal Service on Wednesday announced that it would stop delivering letters on Saturday, the debt-embattled agency's most drastic step yet to reduce costs. The Postal Service's financial problems largely stem from costly retiree payments, as well as a general decline in mail volume as people increasingly rely on the internet to communicate. The move, which may face resistance from Congress, could affect businesses across the country that expect to receive mail on Saturdays. [Associated Press]
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2. RBS PLEADS GUILTY TO RATE-RIGGING
The Royal Bank of Scotland pled guilty to participation in a rate-rigging scheme, and agreed to pay a fine of $612 million to British and U.S. authorities. RBS was part of a cabal of multinational banks that allegedly manipulated the Libor, a global interest rate benchmark used to determine trillions of dollars worth of financial transactions a day. [New York Times]
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3. STOCKS FALL ON EURO CONCERNS
U.S. stock markets fell on Wednesday morning, over concerns that political turmoil in Spain and Italy could plunge Europe back into a debt crisis. However, stocks made up for the early losses after Disney, a bellwether company, reported better-than-expected earnings. [Wall Street Journal]
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4. HOME DEPOT TO ADD 10,000 JOBS IN SPRING
Home Depot announced that it would add 10,000 jobs in time for the spring season, a strong sign that the U.S. housing market is poised for a comeback after years of moribund activity. In total, Home Depot says it plans to hire 80,000 full-time and part-time workers for what is customarily its most lucrative season of the year, as homeowners begin working on home improvement projects. [New York Daily News]
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5. DREAMLINER INVESTIGATION RESULTS 'WEEKS AWAY'
The National Transportation Safety Board announced that the results of an investigation into Boeing's 787 Dreamliner were "weeks away," dashing airlines' hopes of quickly getting the troubled aircraft back in the air. The Dreamliner was grounded by countries around the world after a string of mishaps involving its cutting-edge, lithium-ion battery. [Reuters]