KGP to help out Warsaw workers

KGP Telecommunications on Friday outlined plans to help about 300 Warsaw workers who will lose jobs in April.

Company leaders have worked with WorkOne Northern Indiana and at least 15 area employers to organize an in-house job fair for affected employees. It is scheduled for Monday.

“We have a lot of great employees here and are trying to do everything we can to help them find good jobs,” Director of Operations David Russell said in a statement. “We appreciate the contributions made during their tenure with us and hope the best for them in their future careers.”

WorkOne will also provide affected KGP workers with re-employment services such as resume preparation and mock interviews.

GM names new Maven leader

General Motors Corp. named Sigal Cordeiro to lead Maven after the unexpected departure of Julia Steyn, a spokeswoman for the company's car-sharing business confirmed.

Cordeiro was appointed vice president of General Motors Urban Mobility and Maven last week. Steyn left in late January.

Most recently, Cor­deiro was executive director leading global product marketing for a new family of vehicles for key global markets, spokeswoman Annalisa Esposito Bluhm said.

Maven is GM's app-based car-sharing program that rents cars by the hour. It is focused on urban dwellers, offered in 24 cities in the United States, Canada and Australia.

Fed signals it will be patient

The Federal Reserve said Friday that in light of a slowing global economy and last year's financial market turmoil, the central bank intends to remain “patient” in determining when to make future changes in its benchmark interest rate.

The Fed's semiannual report to Congress on monetary policy stood in contrast to its last report in July when it signaled that it was on track to keep raising rates at a gradual pace over the next two years.

The new report cites a range of risks to the economy that have developed over the last six months, as well as continued muted inflation as reasons to slow further hikes.