Imf: Budget Cuts Hurt Growth A Lot. But Tax Increases Barely Matter.

Initial unemployment claims dropped back to a level indicating moderate job growth last week after a spike the previous week raised alarms about the labor recovery.

Ford will stop making cars in Australia, nine decades after founder Henry Ford first began building Model T's in the country, as a surge in the currency undermines the local industry's ability to compete with imports.

Chrysler and Tesla Motors, both led by media-savvy executives, are trading public jabs over the definition of payback.

John Leopold, the former Anne Arundel County executive, has paid a $75,000 fine for misconduct, WTOP reported. Leopold resigned in February and served 30 days in jail and two weeks of home detention for two counts of criminal misconduct. He forced members of his security detail to perform campaign work and another county employee to empty his urinary catheter bag.

Gateway-Longview Inc. will promote one of its administrators to the position of president and chief executive officer. Carolyne DeFranco, currently the nonprofit’s vice president of organizational performance, will take her new job effective Monday, June 3. The child and family service organization said DeFranco was selected following a national search. She will replace James Sampson, who is retiring after more than eight years as CEO. “I am confident that Carolyne will continue her zeal and…