The company’s decision, which it blamed on heavy losses tied to the insurance plans, follows similar moves by competitors such as UnitedHealth Group, the nation’s largest insurer.
For a while, it looked as if health care costs were holding steady, but Fidelity this year says couples need to set aside a record $260,000 for Medicare premiums and all other out-of-pocket medical costs—up 6 percent from last year and 18 percent from 2014.
DBRS’s view is closely watched because it is the only one of the four ratings agencies recognized by the ECB to have an investment grade rank for Portugal. It needs a rating of that category to qualify for the central bank’s quantitative easing program and for the ECB to accept Portugal’s bonds as loan collateral.
Thousands of foreign workers in Saudi Arabia, most of them Asian, are in financial dire straits as large Saudi corporations are in arrears with their salaries, a crisis due to the freeze on many construction projects after the oil prices collapse.
Sovereign risk rating downgrades exceeded upgrades by a ratio of more than three to one, according to a new study by IHS Markit (INFO), a world leader in critical information, analytics and solutions. Sovereign risk downgrades outpaced upgrades by 61 to 19, based on the latest analysis from IHS Sovereign Risk Review.
Real estate investors could be in for a shock if interest rates rise or demand in some markets continues to fall because “amateurs” are plowing money in at high prices, betting on rent increases that may not continue, said Tom Barrack, the billionaire chairman of Colony Capital Inc.
The BOE will buy 10 billion pounds ($12.9 billion) of U.K. company debt over 18 months while the ECB has acquired 16.2 billion euros ($18.1 billion) of notes since June. The British initiative, as a “knee-jerk reaction to the Brexit vote,” is also much less lofty in its goals than the ECB, which is buying company debt as part of monetary policy stimulus that’s intended to boost inflation, said Wells Fargo & Co. strategists led by Nathaniel Rosenbaum.
Got $45,500? If you’re an Illinois taxpayer, that’s your share of Illinois’ unpaid bills, according to a nonpartisan accounting group that issued a report earlier this year.
Australia’s central bank said inflation would remain low and the economy could grow faster, while house-price concerns had cooled, in explaining its decision to cut interest rates for the second time in four months.
The current target “is not well suited” for the new low-interest-rate era because “there is simply not enough room for central banks to cut interest rates in response to an economic downturn,” Williams said.
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