A major Brazilian daily said Tuesday that the Rio de Janeiro state governor wants to use money earmarked for an environmental fund to cover shortfalls in civil servants’ pensions. A press officer at Gov. Luiz Fernando Pezao’s office confirmed the information published Tuesday by the O Globo newspapers. The newspaper said the money would cover […]
Sporadic clashes broke out in central Athens Thursday as tens of thousands marched to the Greek Parliament during a general strike called to protest planned pension reforms that are part of the country’s third international bailout. Dozens of hooded anarchists threw petrol bombs and stones at riot police, who responded with tear gas and stun grenades. […]
Greece’s leftwing-led government is entering a new round of negotiations with its creditors over progress on the latest bailout program, amid angry union reactions to proposed pension reforms – a key part of the talks. Read: Greek unions to hold general strike on pension reform Representatives of Greece’s European creditors and the International Monetary Fund […]
Abbott Laboratories said Monday that it is buying Alere for $4.8 billion as it tries to expand its medical-testing business. Alere makes tests used to diagnosis the flu, HIV, malaria and several other diseases. Abbott makes drugs, infant formula and medical devices. Read: Shire to buy Baxalta with $32 billion cash stock offer Abbott said […]
President Barack Obama will pitch some new proposals to expand access to retirement savings accounts and revisit some old ones when issuing his budget next month. Many Americans are not well prepared for retirement, with nearly one in three yet to retire having any savings or pension available for their later years, according to a Federal Reserve […]
Dutch electronics giant Philips says it fell to a fourth-quarter net loss of 39 million euros ($42 million) as it paid of pension risks and had higher tax and other expenses, down from a net profit of 134 million euros ($146 million) in the same period a year ago. Earnings before exceptional charges rose from […]
Greek farmers angry at planned pension and tax reforms have expanded their campaign of blocking highways and closed a border crossing to Bulgaria. About 1,500 tractors were parked Monday at the northern Promahonas crossing, leaving dozens of trucks stranded on either side of the border. Union leaders say they will block the road indefinitely. Read: […]
Union discontent is growing in Greece against planned pension reforms, with civil servants joining in a strike by private sector workers next month in what will be the first general strike of the year in the financially struggling country. The ADEDY umbrella civil service union said Monday it will participate in the Feb. 4 strike, and […]
Irish drugmaker Shire will pay about $32 billion in cash and stock to buy Baxalta and strengthen its position in rare disease treatments. Shares of both drugmakers climbed in pre-market trading after the deal was announced. Treatments for rare diseases have become a hot and lucrative area of drug industry research in the past several […]
Read updated story The Fed is poised to raise short-term interest rates for the first time in nearly a decade. A rate hike will be a sign that top Fed officials think the U.S. economy is now strong enough to be weaned from the extraordinary level of support provided by the central bank. Fed officials […]