Overspending Prompts Nobel Prize Payout Cuts

The weak global economy has claimed a new victim—the Nobel Foundation. It has been announced that lower than expected returns on investments over the past decade have made it necessary for the organization to cut the prize money awarded to Nobel laureates by 20 percent. The foundation is also looking for ways to cut administrative costs as well as expenses related to the Nobel Prizecelebrations, as overspending in these areas is also a concern. More… Discuss

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