Cloud Services
A firefighter pension fund can pursue its claims against some of Oracle’s officers, a federal court in California ruled. The fund accuses the software giant of misrepresenting revenue growth for its cloud services.
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pension
Puerto Rico Debt-Restructuring Plan Filed Amid Criticism
A framework that outlines how Puerto Rico will restructure at least $35 billion in public debt and more than $50 billion in public pension liabilities threatens a 10% cut to public pensions if no agreement is reached with retirees.
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Puerto Rico Rejects Key Deal With Creditors to Reduce Debt
Puerto Rico’s governor announced Tuesday that a federal control board reached a key deal that would reduce the U.S. territory’s overall debt by nearly 80%, but that his administration is rejecting it amid concerns about cuts to the island’s crumbling public pension system.
Read moreCancer Drug
A federal court in California dismissed a securities class action brought by firefighter and policemen’s pensions funds against Nektar Therapeutics over alleged false claims about the efficacy cancer treatment drug.
Read moreIsrael Boycott
A Texas man is asking a federal judge to strike down a state law blocking agencies from working with companies boycotting Israel, claiming it forced a major state employee pension fund to divest $68 million in stock from a Norwegian firm to the detriment of pension holders.
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British Cookie Maker’s Plan to Avoid Taxes Crumbles at EU Court
The pension fund for employees of British multinational food manufacturer United Biscuits cannot dodge paying value-added tax on its investments, the European Court of Justice held Thursday.
Read moreUnion Pension
A local branch of the Service Employees International Union claims in a federal lawsuit that the Chicago Cubs did not provide materials needed for an audit of the baseball team’s pension plan.
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California High Court Upholds Law Closing Pension-Padding Loopholes
In an unanimous ruling Thursday, the California Supreme Court upheld the constitutionality of a 2013 pension reform law forbidding public employees from cashing in on unused sick and vacation time to increase their pension benefits, finding the Legislature should be allowed to “close loopholes and foreclose opportunities for abuse.”
Read moreKentucky Sues Financial Firms, Advisers Over Handling of Retirement System Funds
Kentucky is accusing hedge-fund sellers and retirement-fund overseers of sinking its public employees and retirees into a financial quagmire that will require an extra annual $1 billion “indefinitely” to remedy.
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Supreme Court Snuffs Class Action Over US Bank Pension Losses
The Supreme Court closed the book Monday on a suit claiming that managers of U.S. Bank’s retirement plan made investment decisions that broke federal law.
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Battle Over Pension Padding Consumes California High Court
The California Supreme Court took up the contentious and seemingly unending battle over public employee pension reform Tuesday, questioning whether employees have a vested contractual right to pad their pensions.
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Top EU Court Rules Italy Can Tax Public Pensions of Expatriates
Italy can tax its citizens’ public sector pensions even if they moved to another country, Europe’s highest court ruled Thursday.
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Macron Survives No-Confidence Votes on Pension Reform
The French government faced down two no-confidence votes Wednesday over an overhaul of the country’s byzantine pensions system, a key victory after fierce protests and a massive transport strike that brought France to a standstill for weeks this winter.
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Catholic Church Pension Battle Kicked Back to Puerto Rico
The Supreme Court on Monday vacated a ruling out of Puerto Rico that set payment and seizure orders over a disbanded pension plan for Roman Catholic school employees.
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French Back in Streets to Protest Pension Reforms, but Strikes Wane
Tens of thousands of protesters returned to the streets in France on Friday to express their anger over proposals to overhaul the country’s pension system, but there are signs long-running strikes are waning.
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No Letup in French Strikes Over Pension Reform
Long-running strikes by trade unions over French President Emmanuel Macron’s push to overhaul the nation’s retirement system will continue despite a compromise offer by the government.
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Workers v. Government: Showdown in France Over Pension Reforms
France was seized by a new wave of nationwide strikes on Thursday by a spectrum of workers angry over the government’s plans to overhaul the nation’s public retirement system.
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Ballet Dancers Down Tutus in Longest Strike Ever at Paris Opera
Paris Opera has lost more than $13.3 million in a month-long strike by ballet dancers fighting to cling onto pension rights that date back to the “Sun King” Louis XIV.
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Railway Pension Strikes Becoming the Longest in French History
Nationwide strikes against French President Emmanuel Macron’s plan to overhaul France’s pension system will enter the New Year and become France’s longest-running rail strike in the country’s history.
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