Bloomberg The UK’s painful pay squeeze in the aftermath of the financial crisis helped save 800,000 jobs, according to new research. A report published by the Resolution Foundation showed that real average earnings in the UK fell by about 7 percent between 2009 and 2014, the equivalent of a 1 billion-pound ($1.3 billion) weekly wage loss. Still, that pain saved ...

Bloomberg European Commission President Jean-Claude Juncker called on Italy to redouble its fiscal efforts to avoid deviating from the goals agreed to with Brussels, saying the government in Rome has already enjoyed concessions on spending. The commission “has to look out for the observation of the rules, and in the case of Italy we have introduced lines of flexibility in ...

Bloomberg Verizon Communications Inc. is offering buyout packages to as many as 44,000 management employees as part of a cost-cutting drive, potentially eliminating more than a fourth of its workforce. The offer, which excludes executives in sales or crucial company roles, is part of a four-year, $10 billion cost-reduction program that Chairman Lowell McAdam put in place last year. A ...