Exclusive: Sudan needs up to $5 billion in budget support to prevent collapse

Exclusive: Sudan needs up to $5 billion in budget support to prevent collapse
KHARTOUM (Reuters) – Sudan needs up to $5 billion in budget support to avert economic collapse and launch reforms after the ouster of veteran ruler Omar al-Bashir, its finance minister told Reuters. FILE PHOTO: Sudanese residents shop in a bazaar in Khartoum, Sudan, May 4, 2019. REUTERS/Umit Bektas The country, in crisis since losing most of its oil wealth with... Read More

Culture change is the cutting edge of mental health benefits at work

Culture change is the cutting edge of mental health benefits at work
NEW YORK (Reuters) – When Hartmut Braune comes to work in security communications at SAP, he never knows what emergency will land in his inbox. FILE PHOTO: People walk at an office building at a business district in Tokyo, Japan, February 29, 2016. REUTERS/Yuya Shino/File Photo It is a challenging job, compounded by the fact that Braune also coordinates the... Read More

Bank of America, Raymond James to pay $12 million for college fund overcharges

Bank of America, Raymond James to pay $12 million for college fund overcharges
FILE PHOTO: A Bank of America logo is pictured in the Manhattan borough of New York City, New York, U.S., January 30, 2019. REUTERS/Carlo Allegri (Reuters) – Bank of America Corp (BAC.N) and Raymond James Financial Inc (RJF.N) will pay roughly $12 million in restitution to customers who incurred excessive fees on investments meant to help their children afford college,... Read More

Bank of America, Raymond James to pay $12 million restitution for fund overcharges

Bank of America, Raymond James to pay $12 million restitution for fund overcharges
FILE PHOTO: A Bank of America logo is pictured in the Manhattan borough of New York City, New York, U.S., January 30, 2019. REUTERS/Carlo Allegri (Reuters) – A U.S. regulator said units of Bank of America Corp (BAC.N) and Raymond James Financial Inc (RJF.N) will pay roughly 12 million in restitution to customers who incurred excess fees on their investments... Read More

Domestic focus a ‘better choice’ for many Chinese companies: Harvest Global CIO

Domestic focus a ‘better choice’ for many Chinese companies: Harvest Global CIO
HONG KONG (Reuters) – Focusing on domestic consumers would be a “better choice” for many Chinese companies, even if the shift is forced by trade tariffs and weak worldwide growth, said Thomas Kwan, chief investment officer at Harvest Global Investments. Thomas Kwan, chief investment officer at Harvest Global Investments, speaks for the Reuters 2020 Investment Outlook Summit, in Hong Kong,... Read More

Wealth gap among retired Americans worsens despite a growing economy

Wealth gap among retired Americans worsens despite a growing economy
(The opinions expressed here are those of the author, a columnist for Reuters.) Passengers await a cable car near Union Square in San Francisco, California, June 22, 2015. REUTERS/Robert Galbraith By Mark Miller CHICAGO (Reuters) – The current record-high level of income inequality in the United States affects all segments of society, but two new reports shed light on how... Read More

Forecast points to deepening Illinois budget deficit

Forecast points to deepening Illinois budget deficit
FILE PHOTO: llinois Governor J.B. Pritzker delivers remarks at the North America’s Building Trades Unions (NABTU) 2019 legislative conference in Washington, U.S., April 9, 2019. REUTERS/Jeenah Moon CHICAGO (Reuters) – Illinois’ budget deficit will top $3 billion and its pile of overdue bills will hit a new record high by fiscal 2025 if the state’s “unsustainable” tax structure remains in... Read More

Gojek CEO quits to join Indonesian cabinet, replacements named

Gojek CEO quits to join Indonesian cabinet, replacements named
JAKARTA (Reuters) – Gojek CEO and co-founder Nadiem Makarim said on Monday he had resigned to join Indonesia’s cabinet, and the ride-hailing and payments company said two senior officials would jointly take over running operations of the $10 billion firm. Nadiem Makarim, founder of the Indonesian ride-hailing and online payment firm Gojek waves to journalists as he arrives at the... Read More