Comptroller Thomas DiNapoli lowered New York state’s pension fund’s assumed rate of return to 7 percent from 7.5 percent.
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Your Money in the News
Employers added 173,000 workers in August and the U.S. jobless rate dropped to 5.1 percent, the lowest since April 2008 and a level that the Federal Reserve considers to be full employment.
Abhishek Mistry went out on top.
Andy Hall, one of the best-known oil traders who’s been bullish on prices, said the decline in the oil market isn’t a repeat of 1998 or 2008.
Emerging-market policy makers are set to confront their twin fears in person.
University lobbyists are mobilizing to fight ceilings on borrowing
U.S. inflation, which the Federal Reserve has tied to its decision of when to raise interest rates, is being restrained more by labor market slack than the transitory influences of a stronger dollar and lower oil prices, Goldman Sachs Group Inc. economists said.
Chicago Mayor Rahm Emanuel is preparing to press for a property-tax increase of about $500 million to shore up police and firefighter pensions that threaten the city’s solvency, the Chicago Tribune reported.
The pound fell for an eighth day against the dollar, its longest stretch of declines in almost a year, as a report showed growth in U.K. services unexpectedly slowed in August.
Bill Gross says if the Federal Reserve raises interest rates in September, policy makers are likely to wait at least six months before a second hike. Market measures indicate the wait may be twice that long.
The U.S. economy expanded across most regions and industries in July and August, a Federal Reserve report showed, as tighter labor markets boosted wages for some workers.
This probably doesn't help the case for a September rate hike
U.S. lenders earned a record $43 billion in profits for the second quarter -- a 7.3 percent increase from a year ago, the Federal Deposit Insurance Corp. said Wednesday.
H&R Block Inc., the biggest U.S. tax preparer, jumped the most of any company in the Standard & Poor’s 500 Index after announcing a long-awaited share repurchase plan.
Bill Gross said the Federal Reserve has waited so long to raise interest rates that any move now may be labeled “too little too late” as market turmoil restricts the room for policy makers to act.
Videos: In The Money
(Bloomberg) -- Johns Hopkins University’s Jon Faust and Bloomberg’s Matthew Boesler discuss how the low jobless rate meets the Federal Reserve’s goal with Bloomberg's Alix Steel and David Gura on "What'd You Miss?" (Source: Bloomberg)
Gerber Kawasaki President and CEO Ross Gerber discusses the recent performance of U.S. stocks and the outlook for Apple with Bloomberg's Alix Steel on "Bloomberg Markets." (Source: Bloomberg)
On today's "Deep Dive," Bloomberg's David Gura and Alix Steel take a look at the DAX and what really matters to Fed Chair Janet Yellen. They speak on "What'd You Miss?" (Source: Bloomberg)
Creditors of drillers and miners are getting fed up with depressed commodities prices and are clamping down on deals that would help heavily indebted companies ride out the slump. Bloomberg's Jodi Xu Klein has more on "Bloomberg Markets." (Source: Bloomberg)
Bloomberg's Alix Steel updates the latest commodities markets news. She reports on "Bloomberg Markets." (Source: Bloomberg)