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Chicago budget gap to shrink, but pension payment spike looms
CHICAGO (Reuters) - Chicago said its budget deficit was on track to shrink to just below $300 million in 2015, but a state-mandated increase in pension payments would expand gaps in the future. The projected $297 million operating fund deficit, the lowest for the city in seven years, is based on $3.22 billion in revenue and $3.52 billion in expenses, according to an annual financial analysis that Chicago released late on Thursday. ... [...]
Fri, Aug 01, 2014
Source: Politics
Ford's U.S. July sales up 10 pct; Chrysler's up 20 percent
A Chrysler logo is pictured at the Jacob Javits Convention Center during the New York International Auto Show in New York
By Bernie Woodall, Ben Klayman and Paul Lienert DETROIT (Reuters) - U.S. auto sales look set to show healthy gains for July, but not as much as expected, according to early returns from the major carmakers on Friday. Ford Motor Co reported a gain of 10 percent to 212,236 vehicles, narrowly beating expectations, but both Nissan Motor Co and Chrysler Group LLC failed to sell as many cars and trucks in July as analysts had expected. Analysts had expected Ford to show a 9 percent increase in sales. Chrysler's sales gain of 20 percent missed expectations of a 25.5 percent [...]
Fri, Aug 01, 2014
Source: Business
Somali lawmaker killed in Mogadishu, fifth since April
By Abdi Sheikh and Feisal Omar MOGADISHU (Reuters) - Islamist militants shot dead a Somali lawmaker in the capital Mogadishu on Friday by blocking his car and spraying him with bullets, police and witnesses said, after the fifth killing of a legislator in less than four months. Al Shabaab said they killed Aden Madeer because he brought "Christian enemies" to Somalia, a reference mainly directed at African Union forces which are battling the Islamist group and remain the backbone of security in the embattled nation. Sheikh Abdiasis Abu Musab, the spokesman for al Shabaab's military operations, said the rebels would [...]
Fri, Aug 01, 2014
Source: World
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