News

The International Monetary Fund has changed its projection for world growth in 2015 to 3.3%, down from a 3.5% estimate in April. The IMF cites a slowdown in the U.S. economy, which it expects to expand 2.5% this year, down […]

The New York Stock Exchange abruptly shut down at 11:32 a.m. EDT and remained down for almost four hours, unnerving investors. NYSE President Thomas Farley said the problem “likely had to do with an upgrade, but that is premature, and […]

EU leaders have given Greece until Thursday to deliver a proposal to international creditors and have set a Sunday deadline for agreement to end the debt crisis. European Commission President Jean-Claude Juncker says his staff is prepared for potential outcomes, […]

The pension deficit for companies listed on the Standard & Poor’s 1500 index dropped more than 9% in June to reach $346 billion, according to Mercer. That suggests the pension deficit is $158 billion lower than it was at the […]

Greeks voted overwhelmingly against accepting international creditors’ bailout terms. Prime Minister Alexis Tsipras said he was open to resuming negotiations with lenders. However, it wasn’t clear how European leaders would respond. German Chancellor Angela Merkel and French President Francois Hollande […]

U.S. companies added 223,000 jobs to nonfarm payrolls last month, and the unemployment rate dropped to 5.3% from 5.5%, Labor Department data show. Professional and business services, retail and health care sectors posted some of the largest employment gains.

An indicator from the Federal Reserve Bank of Atlanta may provide an additional spur for the central bank to begin raising interest rates. The new index is based on Census Bureau data on households and will be published monthly. It […]

President Barack Obama has proposed a rule to make overtime pay available to millions of workers. Congressional action is not required. Supporters and critics expect the rule to be challenged in court and possibly in Congress.

The Bank for International Settlements said central banks’ loose monetary policies are hiding an urgent need for structural reform. A need to keep interest rates at abnormally low levels since the financial crisis reflects much bigger problems. Major challenges include […]