Illinois governor proposes sweeping pension legislation

Illinois Governor Bruce Rauner on Wednesday unveiled pension legislation that calls for sweeping changes, including the ability to file for municipal bankruptcy, to save billions of dollars for the state and local governments. (Reuters)

Ottawa dials down its procurement corruption policy

The government of Canada has altered its procurement policies for companies seeking government contracts following convictions of bribery, money laundering and other offences. (Journal of Commerce)

IMF warns Fed on risks of hiking too soon

Hiking interest rates too soon could stall the US economy, the International Monetary Fund said, embellishing a prior call for the Federal Reserve to hold steady until early next year. (Market Watch)

Trust us on the economy, Canadian Conservatives plead

ANALYSIS: Many observers now predict the Canadian economy will contract over the entire second quarter, meaning Canada will be in a recession by the end of the summer just as the Conservatives ask voters for a fourth straight mandate. (cbc news)

Illinois' safety net snagged on budget mess

FEATURE: Without a budget, Illinois now lacks the authority to keep checks flowing to the non-profit groups that deliver services to the poor, elderly and disabled. (Chicago Tribune)