Florida’s changes to its public- employee pension system didn’t violate government workers’ constitutional rights, the state Supreme Court ruled in a victory for Republican Governor Rick Scott.
A court order forcing Florida to forgo $1 billion it planned to take from state workers to shore up its budget is the latest sign of how difficult it can be to reduce government-backed retirement benefits.
A court order forcing Florida to forgo $1 billion it planned to take from state workers to shore up its budget is the latest sign of the difficulty of reducing government-backed retirement benefits.
SABMiller Plc , which walked away from last year’s biggest beer acquisition, faces the prospect of paying the most ever for Foster’s Group Ltd. as it tries to boost profitability.
Florida, where legislators and Governor Rick Scott closed a $3.8 billion 2012 budget deficit last month, will join at least 16 other U.S. states increasing retirement costs for public workers.
A judge blocked Florida Governor Rick Scott’s changes to the state’s public employee pension system that were part of an effort to save $1 billion a year.
Heineken NV , the world’s third- largest brewer, reported 2010 profit that beat analysts’ estimates as the company lowered spending more than anticipated amid falling sales of beer.
Tate & Lyle Plc rose to its highest price in almost three years in London trading as analysts speculated Cargill Inc. might bid for the maker of the low- calorie sweetener Splenda.
Diageo Plc plans to make its biggest purchase in more than a decade by acquiring Mey Icki in a transaction that values Turkey’s largest maker of Raki at 3.3 billion Turkish lira ($2.1 billion).
U.K. stocks slid the most since November as earnings from Goldman Sachs Group Inc. and Wells Fargo & Co. failed to beat analysts’ projections and U.S. housing starts fell to a one-year low.
"Balancing the state budget on the backs of middle-class working families is the wrong approach."
- Andy Ford on Jan 17, 2013