Media

Credit reports weren’t designed to be job-screening tools. But about half of employers now use them when making hiring decisions, according to a 2012 study by the Society for Human Resource Management. The practice cuts across all sectors of the economy, from high-level management to office assistants, home health-care aides, and people who work the counter serving frozen yogurt.

For some job seekers, repeated rejection by potential employers may be traceable to an unlikely source: their credit report.

Regulators are cracking down on some of the methods companies are using to screen candidates (two major companies this week were accused of using background checks to discriminate against black applicants.) But employers’ use of credit checks during the hiring process is legal and fairly common.

Regulators in the United Kingdom are looking into allegations that traders from some of the world's largest banks have been manipulating benchmark foreign-exchange rates to make profits on the backs of clients.

Bloomberg News broke the story earlier this week, citing interviews with several anonymous traders who claim the practice has been occurring for at least 10 years. [...]

We have learned, painfully, of the damage derivatives can do to an economy in a financial crisis. But derivatives are hurting the economy even on its best days, according to a new study.

Since the Rana Plaza building collapse killed more than 1,100 people in April, retailers have faced mounting pressure to improve safety at Bangladesh garment factories and to sever ties with manufacturers that don't measure up.

The world's largest retailer, Walmart, last month released a list of more than 200 factories it said it had barred from producing its merchandise because of serious or repeated safety problems, labor violations or unauthorized subcontracting.

Is the National Security Agency wasting tax dollars by paying Booz Allen to handle routine intelligence tasks, such as the systems administration work that 29-year old Edward Snowden was doing for $122,000 a year? It sure seems that way. 

First, the American Pediatrics Association noted that poverty was the number one danger facing children today. If that wasn’t bad enough, it seems the elderly are just as vulnerable, especially in the light of potential entitlement cuts.

In the wake of the National Security Agency scandal, the mainstream media is obsessing over Edward Snowden’s security clearance. It is asking, along with Senators from the Intelligence Committee, why a systems administrator at Booz Allen Hamilton had access to troves of top-secret documents and whether or not the vetting process for the other 1.4 million people with top-secret clearances is rigorous enough. The fear, the mainstream seems to be pushing on Americans, is that other leaks are in store.