Business

Business briefs

Dubai worry

The United Arab Em irates offered banks emer gency support yesterday, the first steps to ease fears that a looming debt default by two of Dubai’s flagship firms could derail the global economic re covery. But the move to inject liquidity into Du bai’s banks, together with promises by neighboring city-state Abu Dhabi to provide selective support to Dubai companies, was seen by analysts as the bare minimum.

Jobs One

Executives from firms including Google, AT&T, Disney and FedEx will at tend a jobs summit on Thursday at the White House, an Obama admin istration spokeswoman said. The forum is meant to help come up with ways to combat high un employment. The jobless rate hit 10.2 percent in October.

Abboud town

JA Apparel, the maker of Joseph Abboud men’s clothing, has promoted VP and controller Tom DeCarlo to senior vice president and CFO, over seeing human resources as well as the company’s finances. DeCarlo, who has been with the com pany since 2004, has held positions at Gucci Amer ica and J. Crew Group.

Fred Joseph

Fred Joseph, who ran junk-bond firm Drexel Burnham Lambert from its heyday in the 1980s to its collapse in 1990, died over the weekend. The former CEO, who once oversaw Michael Milken, was 72. Joseph had been diagnosed with multiple myeloma and had been working as a managing director up until four weeks ago at Morgan Jo seph, which he co- founded in 2001.