Multiemployer pension funds would see their PBGC premiums increase over the next decade under a new White House budget proposal, Pensions & Investments reported. Aimed at improving PBGC’s multiemployer program’s finances, the proposal would raise $16bn over the 10-year budget window, with the agency’s current $32bn deficit wiped out by fiscal year 2020.
An associate director at Steve Cohen’s family office and hedge fund, Point72, is suing the billionaire investor, the company and its president, alleging that female employees are subjected to a hostile work environment and paid as little as a third of what men are paid. The Financial Times has the story.
It may just be a coincidence that bitcoin’s plunge preceded the latest equities selloff, but Morgan Stanley clients are watching the digital currency as a potential leading indicator for risk in the broader stock market, according to Bloomberg.
Fidelity Investments is temporarily blocking investors from buying the ProShares Short VIX Short-Term Futures ETF after it declined 90% through last week’s market tumult, Citywire reported.