Personal bankruptcy

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Chapter 7 bankruptcy filings by Americans rose by 16 percent year over year to hit 30,961 filings in April, the American Bankruptcy Institute (ABI) said in a May 2 statement.

Job cuts

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Berkshire Hathaway said Geico has cut tens of thousands of jobs to help revive its underperforming business. Vice Chair Ajit Jain said the insurer’s workforce dropped from about 50,000 to 20,000, though he didn’t give a timeframe, according to Bloomberg.