Economy

U.K. Conservative Party's loss weighs on pound, markets

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The ruling Conservative Party's unexpected loss in Thursday's general election in the U.K. creates more uncertainty ahead of Brexit negotiations.
ECB stands pat on rates; Mario Draghi doesn’t see anything ‘substantial’ with inflation

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The European Central Bank announces that interest rates on the main refinancing operations of the eurosystem will remain at zero.
Santander rescues Popular as Spain real estate loans sink lender

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Banco Santander has stepped in to take over Banco Popular Espanol before the bank collapsed under a mountain of bad property loans.
ECB said to cut inflation outlook after energy prices slide

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The European Central Bank is preparing to cut its inflation outlook across its forecast horizon at this week's policy meeting because of weaker energy prices.
Asset owners see Trump's Paris exit as speed bump, not brick wall, for climate risk progress

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Trump's bailing out of Paris accord won't halt momentum of efforts to insulate institutional portfolios from climate risks.
Wages still catching up with jobs

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The U.S. Bureau of Labor Statistics reported this morning that the U.S. unemployment rate had fallen to 4.3% at the end of May, its lowest mark in 16 years.
Pension plan executives need to plan ahead for new mortality tables — report

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Pension plan sponsors could be in for more surprises when the IRS updates mortality tables by 2018, according to a new report.
Elon Musk leads CEOs' full-court press on Paris accord as Trump weighs exit

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Top corporate executives are mounting a last-minute push aimed at persuading President Donald Trump that the U.S. has more to lose from abandoning the Paris accord.
London Stock Exchange to acquire Citigroup's bond index, analytics businesses

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London Stock Exchange Group agreed to purchase Citigroup's fixed-income analytics and index businesses for $685 million.
Paying a bit more this year for Memorial Day

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It's not all pension risk transfers, defined contribution lawsuits and manager searches here at Pensions & Investments, we also love a good holiday weekend.
Rising life expectancies expected to up global savings gap to $400 trillion by 2050 — report

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The global economy cannot bear the burden of rising life expectancies unless the structure of global retirement systems changes, research suggests.
PSCA opens up survey on tax reform impact on retirement savings

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The Plan Sponsor Council of America has launched an employer survey on the potential impact of tax reform on retirement savings.
Fed minutes show continued caution regarding economy

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Modest 0.7% economic first-quarter growthpersuaded members of the FOMC to keep the federal funds rate target at 0.75% to 1%.

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Gregory Maxon joined private equity firm Thomas H. Lee Partners as managing director and head of capital markets.
Moody’s lowers China local/foreign currency issuer ratings to A1

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Moody's downgrades China's long-term currency issuer ratings a notch to A1, citing anticipated gradual erosion of China's credit profile.