Hancock cuts jobs
John Hancock Financial Services said it is cutting 116 jobs in Boston — 3 percent of the financial giant’s Hub workforce of about 3,800 — as part of a restructuring of the company’s annuity business. The layoffs come just a few days after Hancock CEO Jim Boyle told the Greater Boston Chamber of Commerce that the company’s presence in Boston “is as strong as it has ever been.”
Starbucks snaps up Fireman investment
Fireman Capital Partners, the private-equity firm started by Reebok founder Paul Fireman, said its portfolio company Evolution Fresh, a California-based premium juice maker, has been acquired by coffee giant Starbucks for about $30 million.
Fed chief meets vets
Federal Reserve Chairman Ben Bernanke, in a speech at a Texas military base, tried to reassure U.S. soldiers by saying the Fed is trying to lower unemployment. The jobless rate for veterans of the Iraq and Afghanistan wars was 12.1 percent in October, well above the national average of 9 percent.
U.S. stocks rebound
U.S. stocks advanced yesterday as jobless claims declined while a retreat in Italian bond interest rates and the selection of a new Greek premier tempered concern about Europe’s debt crisis.