This is CalPERS’ fault. Its projected earnings fell through because it had a poor return on a lot of its investments and unrealistic earnings estimates. How can it say the return will be 7.5 percent and it comes in at .06? At the conference there weren’t many details, Perez said, though there was an acknowledgement its global investments were off. Our savings accounts yield more.
“Slower than expected economic growth in the U.S., Canada, Japan and many European countries, combined with the U.K.’s vote to exit the European Union, have all contributed to a weaker economic outlook for advanced economies overall,” the report stated.
Puerto Rico’s federally appointed financial oversight board revealed on Tuesday a fresh budget deficit projection prepared by the outgoing government that is $10 billion more than forecast in October, the board said in a statement.
In UniCredit’s 2017 Outlook report, Federico had forecast the debt ratio to gross domestic product would rise next year to 133.2 percent. She said in an interview that she now sees it 1 percentage point higher, exceeding 134 percent.
If government funds are used in the bank’s recapitalization, its bondholders will probably have to take losses under European burden-sharing rules. The cabinet is considering a so-called precautionary recapitalization that may reduce the potential losses. A meeting is scheduled Friday to determine the details, a government official said.
The federal government is increasingly taking money out of recipients’ Social Security checks to recover millions in unpaid student debt, leaving thousands of retired and disabled Americans with below-poverty incomes, according to a report set to be released Tuesday.
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