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Greek pensioners take to streets ahead of expected cuts

  • November 26, 2015 September 13, 2019
  • 11:30

More than 2,000 pensioners chanting “We can’t live on 300 euros” marched through central Athens Thursday to protest plans by the country’s left-wing government to overhaul the pension system. Protests took place in Athens and 12 other Greek towns and cities Thursday against the proposed reforms that would merge major funds and make the system […]

  • November 26, 2015 September 13, 2019
  • 10:40

Pfizer and Allergan are joining in the biggest buyout of the year, a US$160-billion stock deal that will create the world’s largest drugmaker. It’s also the largest so-called inversion, where an American corporation combines with a company headquartered in a country with a lower corporate tax rate, saving potentially millions each year in U.S. taxes. […]

  • November 23, 2015 September 13, 2019
  • 10:15

U.S. Federal Reserve officials believed last month that the economic conditions needed to trigger the first interest rate hike in nearly a decade could “well be met” by the FOMC’s next meeting in December. Minutes of the October discussions reveal Fed officials’ overall view is that the job market will improve further and that inflation […]

  • November 19, 2015 September 13, 2019
  • 10:51

Dissenters increased pressure on Greece’s grudgingly pro-reform governing coalition Thursday, hours before an important vote on measures demanded by bailout creditors. A lawmaker in Prime Minister Alexis Tsipras’ junior coalition partner said he would vote against the proposed legislation which, among others, will substantially reduce struggling mortgage holders’ protection from foreclosures. The lawmaker, Nikos Nikolopoulos, […]

  • November 19, 2015 September 13, 2019
  • 10:49

The deficit racked up by the U.S. federal agency that insures pensions for about 40 million Americans has increased 23% to $76.4 billion over the past year. The agency’s program for so-called multi-employer pension plans continues to account for a large share of the deficit, $52.3 billion. Multi-employer plans are pension agreements between labour unions […]

  • November 18, 2015 September 13, 2019
  • 11:12

The former head of an Oregon-based chain of retirement centres was sentenced by a federal judge on Tuesday to 15 years in prison for defrauding investors of about $130 million. Prosecutors say Jon Harder operated what amounted to a Ponzi scheme, raising money from unsuspecting investors and banks during the collapse of his Sunwest Management […]

  • November 18, 2015 September 13, 2019
  • 10:36

Greece struck a deal with European creditors Tuesday on economic measures it needs to make to get its next batch of bailout money, including a 10 billion-euro ($10.7 billion) cash injection for its crippled banks. Though the government of Prime Minister Alexis Tsipras had already made many of the reforms required by its third international […]

  • November 17, 2015 September 13, 2019
  • 11:02

Iran says it will export an additional 500,000 barrels of oil a day in a bid to reclaim its market share after sanctions are lifted under a landmark nuclear deal. Oil Minister Bijan Zanganeh told reporters Tuesday that the increase is part of Iran’s plan to double its crude oil exports as sanctions are lifted, […]

  • November 17, 2015 September 13, 2019
  • 10:40

The head of the International Monetary Fund says she supports adding China to an exclusive club of the world’s top currencies. Christine Lagarde said Friday that she supports findings by staff at the IMF that China’s currency, the yuan, meets the criteria for inclusion in the basket of currencies used in the fund’s operations. China […]

  • November 17, 2015 September 13, 2019
  • 10:35