U.S. companies with defined-benefit pension plans will save at least $18 billion in 2016 because the Internal Revenue Service has yet to adopt updated assumptions on how long Americans are living, Moody’s Investors Service says.
Source: IRS Lack of Action on Mortality Rates Helps Company Pension Plans in 2016
A turbulent year for billionaires as the number of 10-figure fortunes drops to 1,810 and the average net worth tumbles too. One constant: Bill Gates Is Again Richest Person On The Planet.
Source: Forbes 2016 World’s Billionaires: Meet The Richest People On The Planet – Forbes
A Moody’s Investors Service tally of the least-creditworthy companies rose by 10 to 274 this month, pushing it nearer to April 2009’s record 291
Source: Number of Troubled Companies Nears 2009 Peak – MoneyBeat – WSJ
Gold is still expensive, but rising economic risks and market turmoil mean investors should buy it for insurance, Deutsche Bank said Friday.
Unemployment rates in 36 states and the District of Columbia remained elevated in 2015 compared with their 2007 levels.
Source: In 36 States, Unemployment Rates Still Linger Above Prerecession Levels – Real Time Economics – WSJ
The US economy ended the year on a stronger footing than expected, providing some reassurance as the global outlook falters.
Sub-zero rates are becoming the “new abnormal” in a shaky world economy. With fresh panic hitting markets, are we finally hitting the limits of what monetary policy can achieve? Click on the countries to find out
Source: Mapped: Negative central bank interest rates now herald new danger for the world – Telegraph
Prof Moshe Vardi told the world’s biggest science conference it could lead to more of us becoming depressed because of a lack of direction in life
Source: Robots ‘to take 50% of our jobs by 2050 and outperform humans at almost anything’ – Mirror Online
Gabriel Stein, asset management director at Oxford Economics, and James Bevan, chief investment officer at CCLA Investment Management, discuss the implications of a negative rate environment and investors’ rush to cash. They speak on “On The Move.” (Source: Bloomberg)
Source: Central Banks’ New World of Negative Rates and Cash – Bloomberg Business
Even the big boys are feeling this economy change…./recession….
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Wal-Mart is closing hundreds of stores across the globe, including 154 in the U.S., a rare retreat for the retail behemoth on its home turf.
Changeinadvance 