President Barack Obama is set to seek a $280 million budget for the U.S. Commodity Futures Trading Commission that, while more than the commission currently gets, is lower than his previous request for an agency that has said it lacks the resources to fully oversee markets, according to people with knowledge of the matter.
Lawmakers and council members from Britain’s second city, Birmingham, are meeting the government in London today to discuss ways of overcoming a budget crisis that’s putting at risk basic services such as trash collection.
U.S. state revenue isn’t rising fast enough to keep up with the cost of funding pensions, health care and public works projects, underscoring financial strains that persist during the economic recovery, according to a report.
Luxottica Group SpA , the Italian owner of the Ray-Ban sunglasses brand, raised 500 million euros ($702 million) from its first benchmark bond issue as the country struggles with the fallout from Europe’s budget crisis.
The chief executives of large banks including Goldman Sachs Group Inc. and JPMorgan Chase & Co. will meet with President Barack Obama tomorrow as Wall Street urges Congress to end the budget stalemate in Washington.
Illinois, which shares the worst state credit rating with California, is draining its pension funds as candidates for governor promote plans that would cover less than a quarter of a record budget gap.
Imagine a company that allows its employees to take nothing in salary this year in exchange for promissory notes to pay them twice as much in 10 years. Although there would be no immediate cash outlay, the company would still be required to accrue expenses reflecting the promises.
The euro dropped for a fifth month versus the dollar in the longest stretch of losses since November 2008 as Europe’s deficit crisis spread and officials negotiated a potential $159 billion rescue for Greece.