The Illinois Supreme Court dealt another devastating blow Thursday to the state’s impatient attempts to control its ballooning public pension debt by striking down a state law that would have cut into an $8 billion hole in two of Chicago’s employee pension accounts. The law forced the city to significantly ramp up its taxpayer-fueled contributions, but also cut […]
FIFA paid Sepp Blatter $3.76 million in 2015, and the governing body reported a loss of $122 million for a year marred by scandal. After years of secrecy about presidential pay, FIFA finally revealed Blatter’s salary in its latest annual accounts published Thursday. Blatter, who was suspended on full pay last October and later banned […]
Institutional investors are suing automaker Volkswagen in a German court, seeking 3.25 billion euros ($3.57 billion) in damages over the company’s diesel emissions scandal. Attorney Andreas Tilp said Tuesday in a statement that the suit was joined by investors from 14 countries, including the U.S., Australia, Germany, Canada, the Netherlands, and the U.K. Among the […]
A federal judge has ordered the NFL’s pension plan to pay higher disability benefits to a retired player who apparently is suffering from an illness caused by multiple concussions. Judge Marvin J. Garbis ruled last week in U.S. District Court in Baltimore that the pension plan must pay former linebacker Jesse Solomon football degenerative benefits. Solomon began his […]
Xenon Pharmaceuticals has reported a fourth-quarter loss of $3.9 million, after reporting a profit in the same period a year earlier. On a per-share basis, the Burnaby, British Columbia-based company said it had a loss of 27 cents. The gene therapy biotech company posted revenue of $3.2 million in the period. Read: Valeant interim CEO vows to […]
New York’s comptroller says average Wall Street bonuses were down 9% last year to $146,200 as industry profits declined. State Comptroller Thomas DiNapoli estimates Monday that industry-wide profits declined by 10.5%, the third straight yearly decline. DiNapoli says revenues were weak, especially from trading and underwriting. Profits were at their lowest reported level since 2011. […]
Based on the current rate of progress, it will take more than 100 years before women earn the same wages as men. In Ontario today, even though women now account for roughly half of the labour force, they continue to make 31.5% less than the average annual earnings of male workers – one of the largest […]
A new study by pension provider Royal London suggests some British workers will have to work until they are 81 if they want to build up savings that guarantee their parents’ standard of retirement. The research released Wednesday comes as the British government embarks on a review of pensions that has prompted speculation it will raise […]
General Motors plans to sell 20- and 30-year notes to make a payment on its huge U.S. pension obligation for hourly workers. The Detroit company filed a prospectus for the offering with the U.S. Securities and Exchange Commission on Thursday that did not specify an amount. But Moody’s Investor Services said it would be $2 billion […]
Protesting farmers says they’re planning to camp outside parliament and hold a 48-hour protest against planned pension reforms. Farmers from around 70 highway and road blockades around the country are planning to bring their protest to Athens on Friday and Saturday, in a confrontation with the leftwing government, which is struggling to implement austerity measures demanded […]