US will feel effects of UK referendum, Fed governor says

June 29th, 2016  // News

Britain's decision to leave the EU will affect the Federal Reserve's monetary policies as global economic risks increase, said Fed Governor Jerome Powell. The Fed has already pledged to provide dollar liquidity to markets, and Powell hinted that the central bank is in no rush to increase interest rates. Read more

Lawyers, accountants needed to navigate Brexit

June 28th, 2016  // News

The UK's vote to leave the EU is expected to create plenty of work for accountants, lawyers and consultants, who will be called on to help companies and other clients navigate the transition. Read more

Friday’s Brexit market losses reached a record $2T

June 27th, 2016  // News

Global markets lost more than $2 trillion in paper wealth following news that the UK had voted to leave the EU. That made Friday the largest single-day drop in history, surpassing a $1.9 trillion sell-off during the financial crisis in September 2008. Read more

Cameron to resign after UK votes to leave EU

June 24th, 2016  // News

The UK has voted to withdraw from the EU, prompting Prime Minister David Cameron to announce that he will resign by October. The Bank of England says it will "take all necessary steps to meet its responsibilities for monetary and financial stability," while S&P Global Ratings says it likely will downgrade the UK's AAA credit rating. Read more

5 questions for better performance reviews

June 23rd, 2016  // News

Delivering an effective performance review can be challenging and requires finding the right tone and approach. Here are five questions to ask yourself before giving your next performance evaluation. Read more

Yellen signals caution about rate hikes

June 22nd, 2016  // News

The Federal Reserve might have to postpone any interest-rate increase in the near future because of weakness in the US economy, Chair Janet Yellen says. "The latest readings on the labor market and the weak pace of investment illustrate one downside -- that domestic demand might falter," she told the Senate banking committee. Read more

US health care spending to fall below original estimates

June 21st, 2016  // News

US health care spending could be about $2.6 trillion less from 2014 to 2019 than was estimated after the Affordable Care Act was passed, according to an Urban Institute study. It is unclear whether the 11% drop in estimated spending is due to the health care law or the economy. Read more

PBGC says it needs $15B for multiemployer pension insurance program

June 20th, 2016  // News

The Pension Benefit Guaranty Corp. will have a $53.4 billion deficit in today's dollars by 2025 for its multiemployer pension insurance program if action is not taken, according to reports by the agency. It will need $15 billion over the next 10 years to prevent default, the reports say. Read more

FASB requires earlier recognition of credit losses

June 17th, 2016  // News

Credit losses on loans and other financial instruments will be required to be reported in a more timely fashion under a standard the Financial Accounting Standards Board issued Thursday. Read more

Fed holds rates, scales back plan for increases

June 16th, 2016  // News

The Federal Reserve's policymaking committee has decided against raising its key interest rate and says increases will be implemented more slowly than planned. The decision to delay an increase was backed by every member of the committee, including Esther George, who had voted at recent meetings for a rate hike. Read more

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