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Personal investing

No chicken, no cafes: Egyptians scrimp as prices leap

CAIRO (AP) — Money had already been tight as food and electricity bills climbed for weeks. So Ashraf Mahrous, a 45-year-old civil servant, warned his wife, “Black days are ahead,” when Egypt floated its pound and hiked fuel prices this month. Mahrous is now looking for a side job. Rising …

Q&A: Puerto Rico’s debt crisis explained

NEW YORK (AP) — Puerto Rico’s debt crisis has reached a new level, with the island’s governor saying Puerto Rico will not pay most of its $470 million in debt payments due by Monday. Island officials spent the weekend trying to negotiate a settlement that would have avoided the default. …

Cambodia’s zeal for rubber drives ethnic group from land

BOUSRA, Cambodia (AP) — For generations, the indigenous Bunong were famous as the great elephant keepers and masters of the forests in eastern Cambodia. They called the fertile, rolling hills of their ancestral homeland “meh ne,” or mother — a source of food, livelihoods and self-identity. From its rich red …

Financial tips for same-sex couples

NEW YORK (AP) — Gay and lesbian individuals are less prepared financially for retirement than their straight counterparts, according to an exclusive analysis by The Associated Press-NORC Center for Public Affairs Research. LGBT adults are likely to have less in retirement savings and have less access to Social Security benefits …

High fees eroding many 401(k) retirement accounts

WASHINGTON (AP) — It’s the silent enemy in our retirement accounts: High fees. And now a new study finds that the typical 401(k) fees — adding up to a modest-sounding 1 percent a year — would erase $70,000 from an average worker’s account over a four-decade career compared with lower-cost …

Stakes are high for Cuba foreign investment law

HAVANA (AP) — Cuban authorities are on the verge of enacting a new foreign investment law considered one of the most vital building blocks of President Raul Castro’s effort to reform the country’s struggling economy. The law is seen as so important that an extraordinary session of parliament has been …

AP IMPACT: The world braces for retirement crisis

A global retirement crisis is bearing down on workers of all ages. Spawned years before the Great Recession and the 2008 financial meltdown, the crisis was significantly worsened by those twin traumas. It will play out for decades, and its consequences will be far-reaching. Many people will be forced to …

Airlines bet on India market despite losses

MUMBAI, India (AP) — India has become a hot ticket for international carriers since opening its airline industry to foreign investors last year. But the potential of a giant market where only a sliver of the population travel by plane also comes with a catch: airlines in India are vastly …

Rich Chinese look abroad to preserve wealth

BEIJING (AP) — China’s richest people are stepping up investment in U.S. real estate and other foreign assets as they try to preserve their fortunes in the face of a fast-changing economy, a report said Tuesday. The report by China Merchants Bank and the consulting firm Bain & Co. in …