Guess who's coming to America?

NEW YORK (CNNMoney)

Based on customer data from UniGroup Relocation, the international arm of the United Van Lines, 15% more people moved into the U.S. than left the country. That's up from 7% in 2012.

We're coming to America!

These 10 countries are sending the most people to the U.S.

United Kingdom
Germany
China
Australia
France
India
Singapore
Canada
Switzerland
Japan

Source: UniGroup Relocation

"It's a reflection of the strength of the economic recovery in the United States," said Richard McClure, UniGroup's CEO.

The number one place new residents are coming from: the United Kingdom. Up next: Germany, China, Australia and France.

The U.S. economy has rebounded faster than most of the Eurozone, spurring an inflow of workers from that region, explained Michael Stoll, economist and chair of the Department of Public Policy at UCLA. In addition, more U.S. companies are looking farther afield for highly skilled workers, he said.

Related: More people are moving to Oregon

UniGroup's customers tend to be people who are hired for well-paid jobs. "The traffic is almost entirely corporate management," said UniGroup spokeswoman Melissa Sullivan. "People don't relocate internationally unless it's for a job."

There are some exceptions, however. The company moved quite a few elderly Chinese to America last year, McClure said. Most of them were parents of Chinese businessmen working in the U.S., he said.

Last year was the first time in four years that more people from China moved to the U.S. than the other way around. Part of that was due to the slight cooling of the Chinese economy. Another factor, is that American firms operating in China are increasingly switching to local workers so there's less need to move American employees into the country, said McClure.

Related: How far will my salary go in another city?

"As U.S. investments in China have matured, there's has been a movement toward homegrown talent," he said.

The total number of international moves Unigroup did fell during the Great Recession. Yet, since the recovery, the total number of moves has risen.

"You see more companies needing a presence overseas to access the increasingly global economy," said Sullivan.

First Published: January 19, 2014: 2:45 PM ET

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Staples' mini post offices draw union ire

NEW YORK (CNNMoney)

Workers are concerned the experimental locations -- staffed by Staples (SPLS, Fortune 500) employees, not Postal Service employees -- will lead to the closure of traditional post offices and the loss of jobs with good wages and benefits.

"The Staples-USPS deal has to be looked at in the context of a drive towards privatizing the U.S. Postal Service," said Mark Dimondstein, president of the American Postal Workers Union. His group is a network of local unions that represents over 220,000 current and retired mail workers.

"We are willing to support this program as long as it's staffed with United States Postal Service employees," he said.

Staples declined to comment on the unions' concerns and said it doesn't discuss agreements with vendors, but said the pilot program is intended to offer "added convenience for our customers."

"Staples continually tests new products and services to better meet the needs of our customers," said spokeswoman Carrie McElwee.

Related: Price of stamps to go up more than expected

And Postal Service spokeswoman Darleen Reid-MeMeo rejected the idea that the Staples program was "an attempt to replace stand alone Post Offices."

The post office, whose financial struggles are well-known, is adapting, Reid-MeMeo said. The Staples pilot is the next step of a program that already has over 65,000 retail partners -- including grocery stores and pharmacies that sell stamps and village stores that sell flat-rate boxes in rural areas.

Sarah Ryan, a faculty member at The Evergreen State College in Washington, said she thinks the Staples partnership does little to help traditionally underserved postal customers.

"The interesting thing is this won't do anything to help people who are in rural or lower income neighborhoods," Ryan said. She has studied privatization and the Postal Service and is a former retail clerk at a Seattle post office and held elected positions in the local postal union.

Related: Can package delivery save the Postal Service?

"This is the first time since the Sears deal that there's an effort to move the retail into a national, corporate chain," she said.

In the 1980s, the Postal Service and Sears (SHLD, Fortune 500) struck an arrangement similar to the one at Staples today. Postal unions protested and the program was eventually canceled.

This time around, Dimondstein said, the union president, said workers want guarantees their jobs will be protected and not outsourced to Staples.

"We do not have any problem with the people of this country getting expanded access to postal service," said Dimondstein. "We are willing to support this program as long as it's staffed with United States Postal Service employees."

The Postal Service counters are currently available at just over 80 Staples stores in and around San Francisco, San Diego, Atlanta, Pittsburgh and Worcester, Massachusetts, said Reid-MeMeo, the USPS spokeswoman. She said the postal service is "always looking to expand access to postal products and services in locations where our customers frequent."

-- CNN's AnneClaire Stapleton contributed to this report

First Published: January 19, 2014: 9:04 PM ET

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China's 7.7% GDP growth beats official target

China's economy grew by 7.7% over the previous year in 2013.

HONG KONG (CNNMoney)

Gross domestic product grew by 7.7% in 2013 over the previous year, according to China's National Bureau of Statistics, a performance that matched the median estimate of a CNNMoney survey. Full-year expansion was supported by 7.7% growth in the final quarter of the year, beating the survey forecast of 7.6% by a whisker.

While last year's growth topped the government's official target of 7.5%, China's economy is stagnating after recording revised 7.7% GDP growth in 2012 and 9.3% in 2011. Looking ahead for 2014, GDP growth is expected to slow to 7.4%.

China's benchmark index, the Shanghai Composite, slipped 0.2% after the announcement. Hong Kong's Hang Seng index dipped 0.3%.

Related story: China's growth expected to beat official target

The pace of China's GDP growth is the most comprehensive gauge of the country's economic health -- an important number to monitor as the government works to bring about stability after decades of runaway expansion. As part of efforts to find more sustainable growth, the government introduced last year a wide range of reforms that tackle everything from fiscal policy to family planning standards.

Economists think the reforms are necessary for China, but putting the plan into action won't be easy and gains may not be reflected in the economy for years.

Related story: Inside China's $2.2 trillion budget

How changes are implemented, and the order in which reforms are introduced, will determine whether or not there is any impact on the economy, said Wang Tao of UBS.

An emphasis should be placed on reforming state-owned enterprises and fiscal policy first, she said. If done successfully, Wang said the reforms could keep China's annual economic growth at 6% to 7% over the next decade.

Other experts are less optimistic. Nomura economists said some of the government's plans still remain vague, and more significant reforms are needed to reduce dependence on state-backed businesses.

Related story: China lifts IPO ban and relaxes rules

Economists surveyed by CNNMoney said that China's economy continues to face a number of threats, with credit growth and local government debt topping the list. Reining in credit could lead to an unexpected liquidity squeeze, while expansion could also spell disaster.

"With the rapid development of interbank and other 'shadow' credit activities in recent years, the task of managing liquidity and credit conditions has become increasingly difficult," said UBS's Wang.

First Published: January 19, 2014: 9:48 PM ET

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Obama and NSA: So what is metadata anyway?

NEW YORK (CNNMoney)

OK. But what's the metadata he's talking about?

It's information wireless carriers collect about where, when and to whom customers make phone calls. It doesn't include any recordings of the actual phone call itself.

The metadata can contain phone numbers, the time and duration of calls and the location of the caller and the recipient.

But it also goes beyond that: It can include which cellular towers were used to transmit the call and what kind of phone was being used.

When bundled together, those metadata can potentially reveal a whole lot about a caller.

For example, knowing that a person was calling someone frequently in the early hours of the morning could indicate that they have a close relationship. Knowing that the call rapidly switched cell towers could indicate that the caller was driving during a call.

Currently, the government collects and stores most of those records.

Obama isn't proposing that the NSA stop collecting metadata entirely. But the scope will be more limited. Fewer calls will be cataloged, and the government will have to get a judge's approval to tap the records.

Eventually, Obama said the government will stop gathering and keeping metadata, but there is no plan yet to replace the existing system.

First Published: January 17, 2014: 3:57 PM ET

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Jos. A. Bank rejects new Men's Wearhouse bid

Jos. A. Bank called the Men's Wearhouse bid "inadequate and opportunistic."

NEW YORK (CNNMoney)

Jos. A. Bank's message to shareholders Friday? You're not going to like the way it looks.

Men's Wearhouse's $1.6 billion hostile bid offered Jos. A. Bank (JOSB) stockholders $57.50 a share, a modest premium from Friday's closing price of $56.49.

"The Offer significantly undervalues Jos. A. Bank, and its future prospects," Jos. A. Bank (JOSB) said Friday. "Men's Wearhouse's true motives are unclear and its commitment to the Offer is not credible."

The firm added that it "is continuing to consider strategic alternatives, including acquisitions, which will maximize stockholder value."

The announcement marks the latest development in the months-long takeover battle between the two menswear merchants.

Jos. A. Bank made an offer to buy Men's Wearhouse last year for $2.4 billion. Men's Wearhouse rejected that bid and countered with an unsolicited bid of $55 a share for Jos. A. Bank -- a proposal that was also rejected.

Related: Time Warner Cable rejects merger plan

"Given that the Jos. A. Bank Board has publicly acknowledged the compelling strategic logic of this transaction, we think Jos. A. Bank shareholders should question why their Board is refusing to negotiate with us to reach an agreement that will deliver to them significant value," Men's Wearhouse said Friday.

Earlier this month, Jos. A. Bank announced a shareholders' rights plan, commonly known as a poison pill defense, to block hostile bids by granting additional shares should any buyer acquire 10% of its shares.

It's been a tumultuous few months for Men's Wearhouse, which is under pressure from its largest shareholder, Eminence Capital, to secure a deal.

Last June, the retailer announced the firing of George Zimmer, its chairman, founder and long-time pitchman.

First Published: January 17, 2014: 7:01 PM ET

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Intel to cut over 5,000 jobs

NEW YORK (CNNMoney)

The company says the cuts are in response to "evolving market trends."

Intel (INTC, Fortune 500) said it will trim about 5% of its 107,600 global workforce by the end of 2014 -- 5,380 jobs.

"This is not a layoff," said Intel Spokesman Chris Kraeuter. "It's not a giant, one time action. This is a target employment rate for the end of the year."

Kraeuter said the cuts will come as a result of people retiring, redeployments, or people leaving voluntarily.

"We're making decisions on how to design our resources to better meet the needs of our business," said Kraeuter.

The news comes after the company announced lackluster earnings and guidance Thursday. Investors are anxious for the chipmaker to become less dependent on the slow growing personal computer market and more engaged in mobile technology.

For the year, Intel shares are up about 18%, while the broader electronic technology sector is up over 30%.

First Published: January 17, 2014: 6:00 PM ET

10.20 | 0 komentar | Read More

Obama and NSA: So what is metadata anyway?

NEW YORK (CNNMoney)

OK. But what's the metadata he's talking about?

It's information wireless carriers collect about where, when and to whom customers make phone calls. It doesn't include any recordings of the actual phone call itself.

The metadata can contain phone numbers, the time and duration of calls and the location of the caller and the recipient.

But it also goes beyond that: It can include which cellular towers were used to transmit the call and what kind of phone was being used.

When bundled together, those metadata can potentially reveal a whole lot about a caller.

For example, knowing that a person was calling someone frequently in the early hours of the morning could indicate that they have a close relationship. Knowing that the call rapidly switched cell towers could indicate that the caller was driving during a call.

Currently, the government collects and stores most of those records.

Obama isn't proposing that the NSA stop collecting metadata entirely. But the scope will be more limited. Fewer calls will be cataloged, and the government will have to get a judge's approval to tap the records.

Eventually, Obama said the government will stop gathering and keeping metadata, but there is no plan yet to replace the existing system.

First Published: January 17, 2014: 3:57 PM ET

10.20 | 0 komentar | Read More

Jos. A. Bank rejects new Men's Wearhouse bid

Jos. A. Bank called the Men's Wearhouse bid "inadequate and opportunistic."

NEW YORK (CNNMoney)

Jos. A. Bank's message to shareholders Friday? You're not going to like the way it looks.

Men's Wearhouse's $1.6 billion hostile bid offered Jos. A. Bank (JOSB) stockholders $57.50 a share, a modest premium from Friday's closing price of $56.49.

"The Offer significantly undervalues Jos. A. Bank, and its future prospects," Jos. A. Bank (JOSB) said Friday. "Men's Wearhouse's true motives are unclear and its commitment to the Offer is not credible."

The firm added that it "is continuing to consider strategic alternatives, including acquisitions, which will maximize stockholder value."

The announcement marks the latest development in the months-long takeover battle between the two menswear merchants.

Jos. A. Bank made an offer to buy Men's Wearhouse last year for $2.4 billion. Men's Wearhouse rejected that bid and countered with an unsolicited bid of $55 a share for Jos. A. Bank -- a proposal that was also rejected.

Related: Time Warner Cable rejects merger plan

"Given that the Jos. A. Bank Board has publicly acknowledged the compelling strategic logic of this transaction, we think Jos. A. Bank shareholders should question why their Board is refusing to negotiate with us to reach an agreement that will deliver to them significant value," Men's Wearhouse said Friday.

Earlier this month, Jos. A. Bank announced a shareholders' rights plan, commonly known as a poison pill defense, to block hostile bids by granting additional shares should any buyer acquire 10% of its shares.

It's been a tumultuous few months for Men's Wearhouse, which is under pressure from its largest shareholder, Eminence Capital, to secure a deal.

Last June, the retailer announced the firing of George Zimmer, its chairman, founder and long-time pitchman.

First Published: January 17, 2014: 7:01 PM ET

10.20 | 0 komentar | Read More

Intel to cut over 5,000 jobs

NEW YORK (CNNMoney)

The company says the cuts are in response to "evolving market trends."

Intel (INTC, Fortune 500) said it will trim about 5% of its 107,600 global workforce by the end of 2014 -- 5,380 jobs.

"This is not a layoff," said Intel Spokesman Chris Kraeuter. "It's not a giant, one time action. This is a target employment rate for the end of the year."

Kraeuter said the cuts will come as a result of people retiring, redeployments, or people leaving voluntarily.

"We're making decisions on how to design our resources to better meet the needs of our business," said Kraeuter.

The news comes after the company announced lackluster earnings and guidance Thursday. Investors are anxious for the chipmaker to become less dependent on the slow growing personal computer market and more engaged in mobile technology.

For the year, Intel shares are up about 18%, while the broader electronic technology sector is up over 30%.

First Published: January 17, 2014: 6:00 PM ET

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Yale, Harvard, other colleges to court more low-income students

Harvard and other top colleges announced new efforts to court low-income students on Thursday.

NEW YORK (CNNMoney)

At a White House summit on college costs Thursday, President Obama announced that 100 colleges and universities plan to either accept more low-income students, provide more assistance to ensure these students graduate, or ramp up their outreach efforts through social media and other channels.

Obama said the dream of college is increasingly out of reach for many young adults as tuition and fees continue to climb, drastically limiting their chances of success.

"Without college, a child born in the bottom quintile [of income] has only a 5% chance of making it to the top quintile ... the chance of making it to the top nearly quadruples with a college degree," the U.S. Department of Education said in a statement.

Related: Homeless college students seek shelter during breaks

And often times, that chance is shattered because students don't even realize some colleges are an option. A recent study from the National Bureau of Economic Research found that the majority of low-income, high-achieving students don't end up applying to top-tier colleges, even though they could qualify for large financial aid packages.

The new initiatives announced today by Harvard, Yale, Columbia and dozens of other prestigious schools aim to do a better job of making low-income students aware of their financial aid policies and other assistance.

Harvard, which already waives tuition for students whose families earn $65,000 or less per year, pledged to spread the word about this program by hiring people to reach out to low-income students via social media.

Related: Most expensive colleges

Yale University will provide a free program to low-income students and those who are the first in their family to attend college to help them adjust to college life before freshman year even starts. The program will take place during the summer and will last for five weeks, during which students can take classes and participate in campus events. The university will also begin mailing information about its financial aid policies (including the fact that it covers tuition and fees for families earning less than $65,000), fee waivers and counseling opportunities to about 20,000 additional low-income high school students.

The school said it will also partner with Harvard, Princeton and the University of Virginia to conduct outreach sessions in 18 cities where they don't typically receive many applications, some of which are in Arkansas and South Texas.

Columbia University, meanwhile, plans to send out more information to low-income students and host more virtual chats and webinars. It is also selecting a group of current students from low-income areas to conduct outreach presentations in their hometowns, and the school said more of its own admissions officers will travel to areas with large populations of low-income and first-generation students.

Related: More universities now admitting undocumented students

Other schools announcing efforts on this front include Wesleyan University, Harvey Mudd College, Amherst College, Middlebury College and Princeton University.

In addition to the colleges, a group of organizations also unveiled new steps to improve college affordability.

The College Board announced that it will begin waiving four sets of college application fees for students meeting certain income requirements and who have taken the SAT, for example, and several nonprofit organizations have pledged to help students with college counseling and SAT prep for free. A full list of new efforts is available here.

First Published: January 16, 2014: 6:41 PM ET

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