The chairman of the Joint Chiefs of Staff told a Senate panel he supports the president's plan to combat Islamic State militants but that if it proved necessary, he would recommend U.S. ground forces.
About 45.3 million people were living at or below the poverty line last year, according to new census data released Tuesday. That's about 14.5 percent of the population, and a slight drop from last year's 15 percent. Median household income also crept up to $51,939, only about $180 more than last year.
Here's what we're reading — and other numbers we're watching — Tuesday morning.$105
That's the base price of Android One, a series of affordable smartphones Google announced in India Monday. It's a bid to capture the country's emerging smartphone market, the New York Times reported, which is expected to double by 2018. Google is also testing drones designed to bring Internet to remote areas.$70 million
The cost for Russian rockets to ferry one American astronaut to the International Space Station has climbed since the space shuttle was retired three years ago, and NASA is looking for a new solution. They're expected to contract out so-called "space taxis," the Wall Street Journal reported, and Boeing is the favorite over Elon Musk's SpaceX.$340 million
Money was contracted to private companies to clean Chicago's public schools in February as a cost saving move. Now principals are pushing back, the Washington Post reported, saying their schools are filthy, grappling with waste and bug problems they didn't have before.
Parts of the Affordable Care Act seek to curb states from setting their own mandates requiring insurers to cover specific care. But many state legislators are trying to work around the restrictions.
When his home-brew tasted bad, a college student decided to pursue microbiology. After more than a decade as a scientist, he's going back to brewing — but this time, he's moving up to bourbon.
An initiative launched with Maria Shriver's input is raising questions over how the hotel company pays its staff — and whether guests should be expected to tip.
The California Public Employee’s Retirement System, better known as Calpers, is the country’s largest public pension fund with $300 billion in assets. So when it acts, investors take notice.
Calpers is going to completely shed its $4 billion dollars of hedge fund investments because it says they’re too complex and costly.
Calpers made 7.1 percent in returns on its hedge fund investments for its last fiscal year, but it also paid $135 million in fees. The pension fund has a goal for its investments of 7.5 percent returns and, as a whole, earned over 18 percent last year.
Still, it’s surprising that Calpers is getting out of hedge funds entirely, says Olivia Mitchell, the executive director of the Pension Research Council at The University of Pennsylvania’s Wharton School.
“The idea of hedge funds is they’re supposed to be protective of market downturns,” Mitchell explains. “One of the costs of that is that they don’t necessarily give the whole upside when markets rise.”
But she also said that hedge funds tend to be relatively opaque in their investments–which, combined with high fees, might prompt more pension funds to follow Calpers.
“Calpers has always been a leader in the public pension space,” says Mitchell. “Certainly others will take a good look at their hedge fund portfolios. My sense is that other cities in California are already taking a bit of a hard look…and Rhode Island and Pennsylvania are debating this issue as well.”
Overall, there are fewer homeless veterans these days. But that good news is tempered by the growing number of homeless vets with families, including many women.