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A firefighter in Allentown, Pennsylvania, which plans to lease its water system to meet retirement costs, left last year with an annual pension of $99,289, more than double what state law says was due. Most municipalities in the state, home to a quarter of U.S. public pension plans, show similar disregard for local statutes, said James [...]
Deutsche Bank AG and Natixis are selling more structured notes tied to carbon permits, or emission allowances, as the market is more than twice as volatile this year as the Euro Stoxx 50 Index. Click here to continue reading.
The Jordan Company plans to seek $3 billion for its next fund that will make buy-and-build investments, according to two people familiar with the situation. The Resolute Fund III LP is expected to officially come to market early next year with the same strategy as its $3.6 billion prior fund from 2008, these people said. Click here [...]
Independent power producer Edison Mission Energy filed for Chapter 11 reorganization early yesterday in Chicago and immediately filed papers to approve bonus programs for the three top executives and hundreds of other workers. Click here to continue reading.
By Kelly Bit Three out of five of New York City’s pension funds, which collectively have about $70 billion in assets, are searching for 10 to 15 hedge funds for direct allocations, according to Seema Hingorani, head of public equities and hedge funds at New York City Comptroller’s Office. The pensions, New York City Employees’ Retirement System, New [...]
Standard Chartered Plc expects U.K. regulations requiring it to hold capital against theoretical stress scenarios will cost $300 million in lost earnings by the end of the year, said Richard Meddings, the bank’s finance director. Click here to continue reading.
