Friday, 26 May 2017
News with tag Pensions  RSS
A new code aims to clean up the foreign-exchange market

Added: 25.05.2017 15:49 | 0 views | 0 comments

FINANCIAL-MARKET traders have earned a pretty shocking reputation in recent years. From manipulating LIBOR, a benchmark interest rate, to rigging the daily fix of foreign-exchange (FX) rates, traders have shown themselves ready not just to stretch the rules, but to collude in outright illegality.
A global code of conduct for the FX market, unveiled on May 25th, aims to put things on a sounder footing. Drawn up over the past two years by a coalition of central bankers, known as the FX Working Group (FXWG), and supported by a panel of industry participants, the code’s 55 principles lay down international standards on a range of practices, from the handling of confidential information to the pricing and settlement of deals.
Such standards seem long overdue in the massive FX market. Roughly $5trn is traded every day (see chart). Many companies, pension funds and money managers depend on banks to hedge their exposure to currency fluctuations. Yet in the past traders colluded with one another...


Connecticut proposes wage freeze, higher employee share for benefits

Added: 24.05.2017 5:08 | 9 views | 0 comments

Connecticut Governor Dannel Malloy on Tuesday proposed a wage freeze and higher employee contributions to pension and healthcare while reducing the state's share, in a framework for an agreement with labor unions that could save the state over $1.5 billion by 2019.


Sears gets relief on debt, pensions

Added: 23.05.2017 17:17 | 1 views | 0 comments

Sears continues to work on turning things around.

Tags: Pensions

SFO to investigate pension liberation scams

Added: 23.05.2017 16:28 | 7 views | 0 comments

Investors who signed over their pension savings to rogue firms have lost at least £120m.

Tags: Pensions, Lost

Trump budget will slash Medicaid, food stamps programs: reports

Added: 22.05.2017 2:50 | 21 views | 0 comments

President Trump's first major budget proposal will include sweeping cuts to Medicaid, federal pensions and food stamps, according to new reports....


Republicans already giving Trump's budget cold shoulder

Added: 21.05.2017 23:48 | 13 views | 0 comments

Trump's blueprint for the 2018 budget year comes out Tuesday, and it's certain to include a wave of cuts to benefit programs such as Medicaid, food stamps, federal employee pensions and farm subsidies


Brussels wants Britain ‘to pay for its £55BILLION pensions pot’ after Brexit

Added: 20.05.2017 5:12 | 15 views | 0 comments

THE European Union wants Britain to contribute to its staggering £55billion pensions pot for decades after Brexit.


Election 2017: State pension triple lock battle lines drawn

Added: 18.05.2017 15:32 | 15 views | 0 comments

Pensions experts say Conservative plans to reduce the generosity of the state pension are a risk.


Puerto Rico Begins Hearings To Restructure Billions Of Dollars In Debt

Added: 17.05.2017 21:32 | 9 views | 0 comments

In San Juan, Puerto Rico, a federal judge Wednesday held a hearing to begin restructuring the U.S. territory's $74 billion public debt. It's a process akin to bankruptcy, in which bondholders, public employees and retirees owed pensions are all fighting for what's owed to them.


Unite suspends planned BMW strikes after new offer

Added: 17.05.2017 17:48 | 14 views | 0 comments

Three 24-hour walk-outs were planned at four sites in a dispute over pensions.


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