Borrowing to Replenish Depleted Pensions

HARRISBURG, Pa. — Facing a shortfall of more than $50 billion in his state’s pensions, and with no simple solution at hand, Gov. Tom Wolf of Pennsylvania is proposing to issue $3 billion in bonds, despite the role that such bonds have already played in the fiscal woes of other places.

Banking culture needs fundamental overhaul not fines, Mark Carney says

Mark Carney has warned bankers they should lose more of their pay in cases of wrongdoing – in addition to forfeiting bonuses – after a series of fines for bad conduct have failed to improve standards across the scandal-hit industry.

Draghi Says Europe’s Recovery Firming With No Deflation in Sight

European Central Bank President Mario Draghi said he sees signs of a “dramatic” improvement in the health of the euro-area economy and that inflation will gradually return to target.

Sweden Government To Propose New Measures To Enhance Financial Stability

STOCKHOLM--Sweden's government said Monday that it intends to propose a series of new measures to enhance financial stability, with responsibility for the new tools handed to Finansinspektionen, the Financial Services Authority.

As U.S. Growth Lags, Some Press the Fed to Do Still More

WASHINGTON — In the five months since the Federal Reserve started a campaign to increase growth and reduce unemployment, the economy has slowed and unemployment has increased.

EU says banks should split risky trading from banking

A European Union advisory group says that Europe's banks should be split into separate legal entities, in order to protect ordinary retail banking from risky trading.

Europe focused on union rather than breaking up banks

BRUSSELS (Reuters) - Experts may recommend this week that European banks should separate retail banking from their riskier investment arms to make them safer and soften the impact of financial crises.

Christine Lagarde says IMF needs less new funds than thought

WASHINGTON: International Monetary Fund chief Christine Lagarde said Wednesday that the Fund probably needs less new money for crisis intervention than the $500 billion earlier anticipated, crediting action by the eurozone for the change.