Hundreds of jobs are being relocated overseas or lost altogether as a result of the June 30 expiration of the Export-Import Bank — with no relief in sight as a gridlocked Congress is unlikely to reauthorize it anytime soon.
General Electric announced Tuesday that will move 500 U.S.-based jobs to Europe and China because the agency’s expiration means it has to seek export financing credit elsewhere. Boeing, meanwhile, blamed the collapse of a second satellite deal on the loss of credit and said it will likely result in the loss of hundreds of jobs by year’s end. MORE
HACKERS STOLE SOCIAL SECURITY NUMBERS OF 21.5 MILLION FEDERAL WORKERS The federal government revealed yesterday that suspected Chinese hackers had sensitive information of 21.5 million federal workers. And that’s not counting a separate attack where 4.2 million other federal workers’ information was stolen. Here’s a primer on what exactly was taken. [Reuters]