The Congressional Budget Office says the deficit will be $468 billion for the budget year that ends in September. The official scorekeeper of Congress also expects unemployment to drop slightly. By 2025, annual budget deficits could once again top $1 trillion, unless Congress acts.» Read More
NEW YORK, Dec 9- Fund managers are stampeding into shares of U.S. long-haul trucking company Swift Transportation Co as oil prices touch five-year lows, but some analysts say a shortage of drivers may slam the brakes on the rally. Portfolio managers from Goldman Sachs, Fidelity, and Federated Investors were among the 65 funds that added Swift shares to their...
STOCKHOLM, Dec 2- Like most of Europe, Sweden is struggling with an ageing population. But in fact Sweden's canny social policies are the reason so many of its baby boomers are choosing to keep going to the office. The country's pensions reform and generous parental leave have resulted in Europe's highest employment rate- with a strong showing among women and the...
Manulife, Canada's largest insurer, earns the bulk of its profit in North America but also has a fast-growing Asian unit. Insurance sales fell 19 percent in the United States, where Manulife owns John Hancock, and slumped 23 percent in Canada. Toronto- based Manulife said insurance sales rose 46 percent in Asia, while wealth management sales surged 74 percent.
Nov 13- Canada's Manulife Financial Corp reported a third-quarter core profit that narrowly missed analysts' expectations, as insurance and wealth management sales declined in Canada and the United States. While North America is the main drivers of the company's profit, Manulife has targeted Asia as a key growth area and reported strong sales in countries...
LOS ANGELES, Sept 12- The next generation version of Gilead Sciences Inc's $84,000 hepatitis C drug, already under fire for its record-breaking costs, is going to be even more expensive.
LONDON, Sept 3- Pressure on western workers from the integration of China and other emerging giants into the world economy shows no sign of abating and that protracted shock will also keep borrowing rates subdued for years to come.
Home ownership rates in will likely fall to levels last seen in the 1980s as millennials wait longer to form households, DoubleLine's Gundlach said.
Scammers posing as distressed grandkids are scamming grandparents into sending them money wires and credit cards. FT reports.
Six years after the financial crisis, birth rates haven't bounced back. For the economy, that's bad news.
AARP has entered the crowded online travel field, hoping to cater to retirees.
Millions of boomers will turn 65 from now through 2030. With increased demand for 55-plus communities, there's now a new surge in the housing market.
P.J. O'Rourke, political reporter and "The Baby Boom" author, explains why he does not think the baby boom generation is not responsible for any of the problems in the world right now.
Newly leaked documents reveal China is about to relax its 1-child policy. Gordon Chang, author and Forbes.com columnist, and Ann Lee, New York University adjunct professor of economics and finance, discuss if a Chinese baby boom is in the making and what that means to their economy.
The weak economy has caused more young adults to move back in with their parents, and some of those kids are bringing their own children with them.
If your golden years seem threatened because of financial setbacks, don't panic. Here are 10 tips from retirement experts on your next steps.
Jerry Webman, Chief Economist & Senior Investment Officer at Oppenheimer Funds, says a demographic wave is hitting the U.S. economy, which will help the household sector.
A new report finds that seniors who are African-American, Hispanic, female or 80 and older are more likely to face economic woes than other older Americans.
Helping baby boomers navigate the future is becoming a big business, but now, there's a freebie: LifeReimagined.org from AARP.
The world's biggest investors are seeking more stable cash income at home, as aging societies and tighter regulation dull risk appetite.
A survey by TD Ameritrade is the latest in a raft of bad news about the prospects of the generation about to retire.