Pension agency chief fears insolvency
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The longer-term solvency of the US fund that insures traditional pensions is at risk, the director of the Pension Benefit Guaranty Corp.
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Business & money: Bank's management faces hostile shareholder meeting amid signs fate is in the government's hands
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Â· Company faces insolvency without Â£400m cash boostÂ· Public-private deal was driven by Treasury
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Sean Harrigan, president of California's public employee pension fund, said Tuesday that he is likely to be forced from his job.
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The ouster of the president of California's public pension fund has raised questions about whether pension funds will be able to influence corporate governance campaigns.
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The risks in GE's financial services operations are worrisome.
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The grim news coming out of the airline and steel industries about their pension plans and the government agency that insures them is giving Congress, along with older workers across the nation, a sudden case of the jitters.
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San Diego faces the possibility of a bankruptcy filing because of a shortfall in its pension fund, but the practice is commonplace among other cities.
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Advisers to Refco may be sued for professional negligence for their alleged role in its collapse, a legal expert says.
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Britain's Treasury chief Alistair Darling told his party's annual convention Sunday that Britain would not protect businesses that make bad judgments &#151; despite a billion-dollar rescue of a struggling bank.
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A welfare case management and telephony system worth some $806.5 million is in danger of being unplugged if the agency overseeing it cannot fix technical and procedural processes in the next several months.
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Sean Harrigan, a figure in the corporate governance movement, said that he expected to be ousted as president of the board of California's large public pension fund.
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Lehman Brothers sees a tough future for the home lender.
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Luqman Arnold, chief executive of Abbey National, is likely to walk away with Â£5.2m if the bank is sold to Banco Santander Central Hispano.
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Emilio Botin, head of Banco Santander Central Hispano, is today expected to tell union officials that the Spanish bank&#39;s Â£8bn takeover of Abbey National might cause up to 4,500 job losses over three years.
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Federal Reserve Chairman Alan Greenspan warned Friday that the nation faces &quot;abrupt and painful&quot; choices if policy-makers don&#39;t act soon to head off looming insolvencies in Medicare and Social Security.
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Final salary pension schemes' finances have been dented by the credit crunch, the Pension Protection Fund says.