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Universal Life Insurance, a 1980s Sensation, Has Backfired

Universal Life Insurance, a 1980s Sensation, Has Backfired

A long decline in interest rates caused premiums to soar when they were supposed to stay level, trapping retirees and forcing many to drop coverage. “These life policies were quicksand,” says one 85-year-old customer.

Published 3 weeks ago

Korean Deal Offers New Life to Nuclear Talks—But Old Doubts Persist

Korean Deal Offers New Life to Nuclear Talks—But Old Doubts Persist

North Korean leader Kim Jong Un’s offer to decommission a plant that makes fissile material for nuclear weapons—if the U.S. agrees to unspecified concessions—puts the focus on how Washington responds.

Published 3 weeks ago

Biggest U.S. Public Pension Looks to China for New Investment Chief

Biggest U.S. Public Pension Looks to China for New Investment Chief

An official with China’s foreign-exchange regulator is the lead candidate to become next investment chief of the largest U.S. public pension fund.

Published 3 weeks ago

Church to Establish New Policy for Sexual Abuse by Bishops

Church to Establish New Policy for Sexual Abuse by Bishops

Roman Catholic bishops in the U.S. announced a series of new policies Wednesday for dealing with sexual-abuse accusations, the first concrete change they have publicly made since a series of new allegations this year plunged the church into crisis.

Published 3 weeks ago

Korean Deal Offers New Life to Nuclear Talks—But Old Doubts Persist

Korean Deal Offers New Life to Nuclear Talks—But Old Doubts Persist

North Korean leader Kim Jong Un’s offer to decommission a plant that makes fissile material for nuclear weapons—if the U.S. agrees to unspecified concessions—puts the focus on how Washington responds.

Published 3 weeks ago

Universal Life Insurance, a 1980s Sensation, Has Backfired

Universal Life Insurance, a 1980s Sensation, Has Backfired

A long decline in interest rates caused premiums to soar when they were supposed to stay level, trapping retirees and forcing many to drop coverage. “These life policies were quicksand,” says one 85-year-old customer.

Published 3 weeks ago

Some Companies Spend Plenty to Lure Executives Willing to Relocate

Some Companies Spend Plenty to Lure Executives Willing to Relocate

A lot of executives don’t relish the idea of disrupting their lives to take a distant job, but they don’t have to in the current strong economy. That is why more companies are offering rich relocation packages to lure top talent to another city.

Published 3 weeks ago

Trump to Nominate Former Fed Economist Nellie Liang for Board Seat

Trump to Nominate Former Fed Economist Nellie Liang for Board Seat

President Trump is set to nominate Nellie Liang, a former Federal Reserve economist who created its first office of financial stability, to the central bank’s board of governors, according to a person familiar with the matter.

Published 3 weeks ago

Apple’s New Strategy: Sell Pricier iPhones First

Apple’s New Strategy: Sell Pricier iPhones First

For the second straight year, Apple is starting to sell its new iPhone models at different times—but this time, the lag reflects a staggered production timeline set by the tech giant rather than manufacturing issues it experienced last year.

Published 3 weeks ago

Alibaba’s Jack Ma abandons pledge to create 1m US jobs

Alibaba’s Jack Ma abandons pledge to create 1m US jobs

Chairman says promise to Trump ‘cannot be fulfilled’ as China trade tensions escalate

Published 1 second ago

Ohio State Football Probe Didn’t Attempt to Recover Deleted Texts

Ohio State Football Probe Didn’t Attempt to Recover Deleted Texts

Ohio State football probe didn’t attempt to recover deleted texts; AD Gene Smith had practice of deleting texts, in possible violation of state law.

Published 3 weeks ago

Tough Times Ahead for Housing

Tough Times Ahead for Housing

The slowdown in housing can be blamed on a number of factors, and the bad news is they are all likely to get worse.

Published 3 weeks ago

How a $450 Million da Vinci Was Lost in America—and Later Found

How a $450 Million da Vinci Was Lost in America—and Later Found

A Louisiana family discovers that the “Salvator Mundi” painting had long hung in their home before it was reauthenticated as a Leonardo masterpiece.

Published 3 weeks ago

Ohio State Football Probe Didn’t Attempt to Recover Deleted Texts

Ohio State Football Probe Didn’t Attempt to Recover Deleted Texts

Ohio State football probe didn’t attempt to recover deleted texts; AD Gene Smith had practice of deleting texts, in possible violation of state law.

Published 3 weeks ago

Trump Attacks Sessions, Blaming Attorney General for Policy Lapses

Trump Attacks Sessions, Blaming Attorney General for Policy Lapses

President Trump blasted Attorney General Jeff Sessions, saying that he “doesn’t have an attorney general” due to various policy issues that he feels have gone unaddressed by the Justice Department.

Published 3 weeks ago