Drag on Economy: The ‘Temporarily Laid Off’ Who Become Permanent
Goldman Sachs warns that a big swatch of the jobless will end up staying that way.
Risk
Pennsylvania Teachers’ Pension Sheds $2 Billion in Risky Investments
Move receives praise from State Treasurer Joe Torsella.
Neiman Marcus, Mired in Chapter 11, Cuts Executive Retirement Benefits
Discord over move is sharpened by big bonuses for CEO and other C-suite execs.
Nearly £31 Million Lost to UK Pension Fraud in Three Years
Regulators say amount is likely even higher as many scams are unreported or unnoticed for years.
CFOs: Don’t Look for a Swift Economic Recovery
A minority of the financial officers expect the US economy to improve by 12 months from now, a Deloitte survey says.
Canadian Pension Fund Sues Walmart over Alleged Role in Opioid Crisis
Lawsuit claims retail giant failed to prevent opioid prescriptions from flowing into ‘illicit channels.’
Five Charged in Fraud, Money Laundering Related to Cryptocurrency Ponzi Ring
Scammers allegedly used investor funds to buy cars, jewelry, and luxury homes.
State Pensions Entered Pandemic in Worse Position than in 2008
Report finds ‘overly optimistic’ assumed returns are more than 2 percentage points higher than they should be.
Norway’s Sovereign Wealth Fund Loses $21 Billion in First Half
The Government Pension Fund Global lost 3.4%, underperforming a benchmark index, largely thanks to its roughly 70% allocation to equities.
High Court Orders Firms to Pay £10.7 Million for Inducing Pension Transfers
Three directors found guilty of making false or misleading statements.
Teamsters Pension Funds Sue McDonald’s over Alleged Sexual Misconduct
Lawsuit claims that such behavior is widespread throughout the burger chain, and points to defenestrated CEO.
BofA: The 3 Market Risks You Haven’t Thought About
One relates to the pandemic, one to politics, and one to federal stimulus.
Treasury Rejects Benefit Cut Requests from Musicians, Teamsters Pensions
MPRA rejections were the first under Treasury Secretary Mnuchin.
CDPQ Loses 2.3% in First Half of 2020, Misses Benchmark
However, the C$333 billion pension beat its benchmark over the past five and 10 years.
New York Comptroller and Colorado Pension Fund Named Lead Plaintiffs in Boeing Suit
The two collectively hold around $200 million in shares in Boeing, which they charge with ignoring safety issues around the 737 MAX for years.