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)

U.K.'s May Says Brexit Letter Delivered
29:49 - U.K. Prime Minister Theresa May says the letter invoking Article 50, and starting the process of the U.K. leaving the European Union, has been delivered to the European Commission in Brussels. She delivered a statement in the House of Commons in London. (Source: Bloomberg)
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