News

The Social Security disability fund’s reserves will run dry next year, potentially leading to a 19% cut in benefits, according to a report from trustees. Congress could use Social Security’s retirement fund to cover the shortfall, as has been done […]

Companies are preparing for a Labor Department proposal that would greatly expand the number of workers who are eligible for overtime pay. Business leaders are considering a range of responses, from installing software that will alert them when an employee […]

The eight biggest banks in the U.S. have to hold significantly more capital to protect themselves from collapse under rules finalized by the Federal Reserve. “This final rule will confront these firms with a choice: They must either hold substantially […]

The practice of shifting pension obligations to insurers might increase risk within the U.S. financial system, the International Monetary Fund says in a report. Interconnectedness of the system increases when pension risk is transferred to the insurance industry through products […]

Expectations of an interest-rate increase in the U.S. this year rose as jobs and housing data confirmed recent strength in those sectors. Initial claims for jobless benefits last week fell below expectations, and this month’s National Association of Home Builders/Wells […]

The Labor Department has released a 15-page memo on how a company should distinguish between employees and independent contractors. The guidance is meant to clarify the department’s approach to determining employer compliance rather than introducing new rules, said David Weil, […]

U.S. retail sales dipped 0.3% in June from the previous month, according to the Commerce Department, missing economists’ forecasts for an increase of 0.2% to 0.3%. Sales fell in eight of 13 major categories, including furniture, clothing, building materials and […]

Speaking at an IRS Nationwide Forum in Fort Washington, Md., the deputy director of the IRS Office of Professional Responsibility warned practitioners that they should exercise due diligence when advising clients on emerging tax issues. He singled out foreign accounts, […]

German Chancellor Angela Merkel, French President Francois Hollande and Greek Prime Minister Alexis Tsipras have hammered out a rescue agreement for Greece that is unanimously supported by other eurozone leaders. European Council President Donald Tusk tweeted that a rescue program […]