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Germany's economy contracts in 4Q

Germany's economy grew by a modest 0.7% in 2012 — but shrank in the fourth quarter, government figures showed Tuesday. For 2012, the country's economy still grew faster than the rest of the 17 European Union countries that use the euro, which has been hit by a debt crisis. But the numbers were down on the previous year, when Germany's economy grew 3%. No fourth-quarter figure was given for gross domestic product, but the full-year total underscored what economists have been suspecting for some time — that the country turned in negative growth in the fourth quarter. Growth was 0.8% in the first quarter, 0.3% in the second and 0.2% in the third. Analyst Carsten Brzeski at ING said the numbers showed that the German economy shrank around 0.3-0.4% in the fourth quarter. The government said that shrinkage could have been around 0.5%, once calendar effects for different numbers of working days were eliminated.

Wal-Mart pledges to hire 100,000-plus veterans

Wal-Mart Stores Inc is making a pledge to hire every military veteran who wants a job. The plan was set to be announced Tuesday at the annual retail industry convention by Bill Simon, president and CEO of Wal-Mart's namesake US business. Wal-Mart projects it will hire more than 100,000 veterans in the next five years. Honorably discharged veterans will have a "place to go,'" Simon said, according to prepared text supplied by the discounter.

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