Thursday 7 June 2018

College pay-off seems elusive for many U.S. young people

College pay-off seems elusive for many U.S. young people

CHICAGO (Reuters) - When Scott Petracco graduated from the University of Illinois at Chicago with a bachelor's degree in biology eight years ago, he thought he would quickly get a job in a laboratory and pay off $30,000 in student loans.

Repeat after me: Social Security and Medicare are not insolvent

CHICAGO (Reuters) - It happens like clockwork each year. The trustees of Social Security and Medicare issue their annual reports on the programs' health, and doomsayers start talking about insolvency and bankruptcy.

Icahn buys small stake in drugmaker Allergan: sources

(Reuters) - Billionaire investor Carl Icahn has acquired a small stake in Allergan Plc at a time when the drugmaker is under pressure from other activist shareholders, people familiar with the matter said on Wednesday.

Your Money: New insurance hacks cyber threats against the rich

NEW YORK (Reuters) - Insurance is supposed to make you feel safe, but even those who sell special cyber-security protection packages worry about hacking threats.

Wells Fargo pulls back from U.S. Midwest, selling 52 branches to Flagstar

(Reuters) - Wells Fargo & Co is pulling back from retail banking in the U.S. Midwest, selling all of its branches in three states, as the bank embarks on a broader review of branch profitability across the country.

OppenheimerFunds, Carlyle launch new private credit interval fund

NEW YORK (LPC) - OppenheimerFunds, the asset manager that oversees about US$249bn, has launched a private debt interval fund in partnership with US private equity firm Carlyle Group, to bring retail investors access to less liquid alternative strategies.

SEC fines New York firm deVere $8 million over UK pension advice conflicts

NEW YORK (Reuters) - The New York investment adviser deVere USA Inc agreed on Monday to pay an $8 million civil fine to settle U.S. Securities and Exchange Commission charges it failed to disclose conflicts of interest to hundreds of clients with UK pensions.

U.S. hedge fund Hudson Bay to open London office: sources

LONDON (Reuters) - U.S. hedge fund Hudson Bay Capital is opening an office in Britain to expand its European trading book, two sources told Reuters on Tuesday.

Employers help pay student loans to attract workers

NEW YORK (Reuters) - For public relations manager Maggie McCuen, having help from her job to repay student loans is not priceless - it is worth every tangible penny of the $1,416 her company has added to chip away at her loan balance since December 2016.

Pershing Square's Fraidin to join Cadwalader as M&A lawyer

BOSTON (Reuters) - Stephen Fraidin, a prominent mergers lawyer who has been a top executive at billionaire investor William Ackman's hedge fund, is joining law firm Cadwalader, Wickersham & Taft LLP.

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