USA: Lower interest rates hike company pension obligations - report
Sharply lower interest rates are rapidly boosting pension obligations faced by companies, outweighing the benefits from a rising stock market in recent months, Reuters reported, citing a Credit Suisse First Boston report released on Tuesday. The report is sure to concern finance chiefs at Detroit's Big Three car makers and large component makers, burdened by the pension costs of legions of long-living retirees who enjoy generous benefits awarded in more prosperous times.
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