Bloomberg Chicago taxpayers, already reeling from a financially strapped school system and mounting pension costs, are looking at a final tab of about $390 million to end ill-timed bets on interest rates. The city council on Wednesday authorized issuing as much as $200 million of bonds to help pay termination fees, estimated at $100 million, to unwind derivative contracts linked ...

Brussels / AFP European Union leaders began a difficult summit on Thursday to push for a crucial agreement with Turkey to curb the continent’s massive migration crisis despite threats by Cyprus to quash the deal. The proposed plan, which would make Turkey a central pillar of the divided EU’s response to the crisis, has been hailed by German Chancellor Angela ...

Rome / AFP Egyptian President Abdel Fattah El Sisi has warned Western powers Libya could spiral out of control if they try to intervene militarily in the conflict-wracked North African state. Speaking in a rare interview, the military-backed ruler of one of the region’s biggest powers said the West and its allies should instead concentrate on strengthening the army of ...