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The federal agency that oversees the financial condition of U.S. banks says it will offer voluntary early retirement to about 20% of its 5,800 employees.Agency officials say the early retirements could create a more highly skilled workforce with the goal of attracting employees with a new set of skills.The Federal Deposit Insurance Corp. announced the move Thursday, saying it isn¡¯t designed to reduce its budget or the total size of the workforce. About 42% of the current workforce is eligible for retirement within five years, the FDIC says. A wave of potential retirements could sap the agency¡¯s institutional knowledge, especially during a crisis, the FDIC¡¯s inspector general said in a recent report.In addition, the FDIC plans to close a handful of field offices, and to relocate and consolidate others. No staff involved in examining banks will be affected, the agency says.¡°This program will enhance our agility, preparedness and technological transformation,¡± FDIC Chair Jelena McWilliams said in a statement. It¡¯s part of the agency¡¯s strategy to ¡°further reduce layers of management and acquire new skill sets,¡± she said.Sen. Sherrod Brown of Ohio, the senior Democrat on the Senate Banking Committee, questioned the approach of phasing out veteran employees and said it could hurt the FDIC¡¯s ability to deal with another financial crisis. ¡°If the FDIC chair were interested in increasing the agency¡¯s capability to respond to a crisis, she would be focused on hiring and training a new generation of workers, not encouraging experienced and senior staff to rush to the exit,¡± Brown said. ¡°Let¡¯s be clear ¨C- no matter how Chair McWilliams tries to spin it, reducing FDIC¡¯s workforce will make us less prepared for a financial downturn.¡±During the 2008-09 financial crisis and the following years, the FDIC closed hundreds of failed U.S. banks and transferred their loans and deposits to other, healthy banks. Bank failures reached a peak of 157 in 2010. With the new plan, the FDIC is looking build up its staff engaged in inspecting banks, and in specialized information technology, computer science and data management. Officials declined to estimate what portion of the employees being offered early retirement is expected to take it. They include executive managers as well as administrative staff at FDIC headquarters in Washington and in the field. The union representing FDIC employees said it¡¯s concerned about employees having enough time to adequately assess their options and make informed decisions. Employees who accept the offer must leave by June 6. Under terms of the offer, most of the employees who choose to leave or retire will receive six months of salary.The union, the National Treasury Employees Union, said it will negotiate with the agency on the office closures and consolidations to prevent involuntary relocations of employees to another FDIC office and allow them to continue to inspect banks in their areas.¡°We also intend to closely examine the FDIC¡¯s justification for these decisions, and our union will raise concerns if we feel the moves are unwarranted or harmful to FDIC¡¯s ability to accomplish its mission,¡± NTEU President Tony Reardon said in a statement.In addition to monitoring the banks¡¯ condition, the FDIC was established during the Great Depression to insure deposits of banks that fail. It guarantees deposits up to 0,000 per account. 3411

The European Union has hit Google with another big antitrust fine, the third in a series of billion-dollar penalties the US tech giant has faced for hindering competition.The European Commission on Wednesday ordered Google to pay €1.5 billion (.7 billion) for abusing its dominant position in online search advertising."Google has cemented its dominance in online search adverts and shielded itself from competitive pressure by imposing anti-competitive contractual restrictions on third-party websites," Commissioner Margrethe Vestager said in a statement.The tech company has now been fined €8.2 billion (.3 billion) in total by Europe over the past three years.EU regulators have taken a much more robust approach to Big Tech companies than their US counterparts, especially when it comes to competition, data protection and tax issues.Google has already been fined in two previous EU antitrust cases.The Commission ordered the company to pay €4.34 billion (.9 billion) in July 2018 for unfairly pushing its apps on smartphone users and thwarting competitors.In 2017, it imposed a €2.4 billion (.7 billion) fine on Google for using its search engine to steer consumers to its own shopping platform.The company said in a blog post Tuesday that it was making further changes to its service based on "feedback" from the European Commission.It has started testing a new format that provides users with direct links to comparison shopping sites. It will also ask new and existing Android users in Europe which browser they'd like to use. 1555

The Democratic Party and CNN announced that the next Democratic Party debate, which will likely feature Joe Biden and Bernie Sanders, will be without an audience. CNN also announced that the media filing room and spin room, an area for journalists to gather interviews for reports, will also be closed. "CNN's top priority is the safety of our employees and community members," the network said in a statement. "This extends to guests planning to attend or cover our debate on March 15. At the request of the campaigns and out of an abundance of caution, we have made the decision to eliminate the debate live audience, the press filing center and spin room in Phoenix."Sunday's debate will be the first one-on-one debate between Biden and Sanders. Earlier on Tuesday, both campaigns canceled planned rallies that were slated to be held in Cleveland. The Cleveland area had three confirmed cases of COVID-19 on Monday."DNC has been in regular communication with local health officials and the Mayor's office, which advised that we could proceed as planned," DNC Communications Director Xochitl Hinojosa said in a statement. "Nevertheless, our number one priority has and will continue to be the safety of our staff, campaigns, Arizonans and all those involved in the debate. We will continue to remain in daily contact with all stakeholders through Sunday." 1369

The Dalai Lama, 83, was reportedly hospitalized on Tuesday in New Delhi with a chest infection after feeling some discomfort. His personal secretary, Tenzin Taklha, told 182

The Hillsborough County Sheriff's Office is investigating a deadly shooting early Monday morning at the Islamic Society of Tampa Bay.Deputies say just before midnight, two men got into an argument in the parking lot outside the mosque during a Ramadan event attended by several hundred people.At some point during the argument, one of the men fired at the other.An off-duty deputy, who had just finished working security detail at the event, heard the gun shots and rushed to the parking lot.The Sheriff's Office reports the deputy found one man holding a gun and another man who had been shot at least two times. The deputy detained the suspect shooter until additional units arrived on scene.Paramedics rushed the victim to Tampa General Hospital where doctors pronounced him dead.Authorities say the public is not in danger. They believe the two men knew one other and were both attending prayer services at the mosque.Homicide detectives are interviewing the shooter who is cooperating. They want to determine the nature of the argument and whether the shooting could be classified as self defense.No charges have been filed.The Sheriff's Office says there is no indication the shooting is in any way related to a terror attack and only appears to be a dispute between the two people involved. 1309