Funding Status of U.S. Pensions Drops to 71.3 Percent (Press Releases)
Slumping stock markets and a decline in the discount rate for Aa corporate bonds in August combined to send the funded status of the typical U.S. corporate pension plan down 5.6 percentage points to 71.3 percent, the lowest funding level since BNY Mellon Asset Management began tracking this data in 2006.
JPMorgan Chase & Co. has told proprietary commodities traders that their desk will be closed, as it moves to comply with new US financial services rules banning proprietary trading, according to people familiar with the matter.
A senior Banco Santander executive was on Tuesday night charged with insider trading by the Securities and Exchange Commission in relation to the hostile $39bn bid by BHP Billiton for PotashCorp.