San Jose Mayor Discusses California Pension Costs

Aug. 1 (Bloomberg) – San Jose Mayor Chuck Reed talks with Bloomberg’s Alison Vekshin about the state’s pension costs. Bloomberg News compiled data from the California Public Employees’ Retirement System for more than a dozen cities facing the financial strains of rising pension costs and declining revenue. The data show how local governments struggle to support six-figure lifetime benefits for some retirees even as they cut police and fire services for current city residents. (Source: Bloomberg)
Former CEO of PT Berau Refuses to Leave His Office
57:29 - There are new twists in the tale of Indonesian coal miner Berau with a former director refusing to leave his position or his office. At the same time, shares of its parent company, Asia Resource Minerals, have been suspended in London. Bloomberg’s Haslinda Amin reports on “Trending Business.” (Source: Bloomberg)
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