TAG: Pensions
German budget crisis: Ruling coalition gives up on finalizing 2024 budget before year’s end
BERLIN — Germany's ruling coalition will not manage to have a 2024 budget in place before the end of...
8 months ago
Germany’s budget crisis: No clear way forward after coalition misses deadline
BERLIN — The German government missed a self-imposed deadline for reaching a 2024 budget deal Wednes...
8 months ago
France’s fiscal woes cast a long shadow over Macron’s EU ambitions
PARIS — French President Emmanuel Macron's lofty European leadership ambitions are once again getting a reality check. The French government is scrambling to make savings and reassure financial markets after official figures this week showed that public...
6 months ago
Sack Andrew Bailey as Bank of England boss, says Liz Truss
LONDON ― Andrew Bailey should be sacked as governor of the Bank of England and a politician should be put in charge of setting monetary policy instead, former U.K. Prime Minister Liz Truss argued.Interest-rate setting is a “political decision” and “should...
6 months ago
Britain’s begging tech giants to list in London. Good luck with that.
LONDON ― The U.K. wants to save its once-mighty stock exchange from irrelevance. But it's fast running out of levers to pull.Once a symbol of Britain's global might, the London Stock Exchange’s waning strength is now a worrying emblem of decline for the C...
4 months ago
Investors too confused by French election to panic — yet
Financial markets went into France's Sunday election bracing for a good old-fashioned freakout — but the results from the first round of voting were too confusing to trigger a selloff. On the contrary, initial reactions on Monday suggested a measure of re...
2 months ago
Labour’s top policy priorities
LONDON — Keir Starmer has arrived in Downing Street with his new Cabinet. So what are their first priorities?Big-ticket items include decarbonizing the electricity grid by 2030, building 1.5 million homes over five years, hitting long-missed health servic...
2 months ago
Ukraine strikes deal to delay debt repayments
BRUSSELS — Ukraine and its private creditors have struck a deal to push back debt repayments, giving the war-torn country crucial breathing space as it struggles with the economic devastation of Russia's invasion.Under the deal, some of the world’s top in...
2 months ago
Europe’s €10 trillion gamble
BRUSSELS ― Unlike Americans, Europeans don’t take risks. If they did, the €10 trillion they have languishing in their bank accounts ― that’s more than a third the size of the U.S. economy ― could be invested in the stock market instead. That would give co...
2 months ago
Belgium’s gonna Belgium: Budget row threatens to blow up coalition talks
Belgian politics is inching toward a new crisis — again.After June elections opened a pathway to the quick formation of a new five-party national government, negotiations became bogged down this month over who ought to shoulder the burden for shrinking th...
1 month ago
Central government pension spending to rise by double digits in FY26
The implementation of the Unified Pension Scheme by the central government from the next fiscal will likely increase the pension bill (excluding defence and railway pensions) by double-digits for the first time post-pandemic, according to a Moneycontrol a...
1 month ago
Deutsche Bank chief tells Germans: Work longer and harder
Deutsche Bank CEO Christian Sewing on Wednesday urged Germans to work harder to help restore the country's economy.“Investors are already doubting our ability to reform, but especially our ability and our will to perform,” Sewing said at the Handelsblatt...
1 month ago
Liz Truss: Things would be better if I was still in charge
LONDON — Real Liz Truss-ism has never been tried.That’s the verdict of Liz Truss, Britain’s shortest-serving prime minister, who launched a robust defense Monday of the economic plan that precipitated U.K. market chaos and prompted her ouster from office...
3 weeks ago
BoE governor hits back at Liz Truss’ ‘deep state’ claims
Bank of England Governor Andrew Bailey hit back against former U.K. Prime Minister Liz Truss, saying her downfall was caused by her decisions and those of her team, rather than any “deep state” conspiracy.“I don’t know what she means by that,” Bailey told...
1 week ago