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Economy, Government & Policy

  • Business Highlights Associated Press - Thu, Nov 5, 2015 5:53 PM EST

    ___ Job creator or job killer? A look at the Pacific trade deal The sweeping Pacific Rim trade deal now being debated would cover everything from Vietnamese labor unions to copyright protections to trade ...

  • House Adopts Plan to Boost U.S. War Funds While Cutting Medicare @ Bloomberg - Wed, Mar 25, 2015 6:56 PM EDT

    In the 228-199 vote Wednesday, Republicans demonstrated that they continue to see political benefits and little disadvantage from making deep cuts to entitlement programs including Medicare and Medicaid. “What we’ve got is a level of debt that was only surpassed in World War II,” Budget Committee Chairman Tom Price, a …

  • Bank of Canada says foreign buyers complicate housing market Reuters - Wed, Mar 25, 2015 5:40 PM EDT

    A lack of data on foreign buyers scooping up property in Canada has made it tougher for the central bank to understand housing market and financial system risks, a senior bank of Canada official said on Wednesday. Overseas home owners could respond more quickly to house price shocks, potentially exacerbating price …

  • GOP-controlled House nears vote on budget to erase deficits Associated Press - Wed, Mar 25, 2015 5:29 PM EDT
    GOP-controlled House passes budget to erase deficits

    Normally quarrelsome House Republicans lined up Wednesday to pass a boldly conservative budget that relies on nearly $5 trillion in spending cuts to eliminate deficits over the next decade, calls for repealing ...

  • U.S. House Republicans narrow budget choices, unity tested Reuters - Wed, Mar 25, 2015 5:28 PM EDT

    Republicans in the U.S. House of Representatives narrowed their choice of budget plans to two on Wednesday, testing party unity over whether to require savings to offset increased defense spending. In ...

  • Shell (RDSa.L) expects only a fraction of liquefied natural gas (LNG) export projects already approved by the Canadian government to go ahead in the next decade, an executive said on Wednesday. Canada has the potential to become one of the world's top LNG exporters, but projects have yet to begin construction, as roughly …

  • Greek central banker optimistic on chances of debt deal Reuters - Wed, Mar 25, 2015 4:34 PM EDT

    The chances of Greece doing a deal with its European creditors have grown since a meeting in Berlin this week, Greek central bank governor Yannis Stournaras said on Wednesday, adding that an exit from the euro would only bring his country more pain. Speaking to a packed hall at the London School of Economics, Stournaras …

  • CNH Tumbles Following Manufacturing PMI Release DailyFX - Wed, Mar 25, 2015 4:28 PM EDT

    CNH Tumbles Following Manufacturing PMI Release

  • U.S. stocks sell off, dollar slips on growth worries Reuters - Wed, Mar 25, 2015 4:19 PM EDT
    Women wearing Hakama, or Japanese traditional Kimono, are reflected in an electronic board, showing various stock prices, outside a brokerage in Tokyo

    Wall Street stocks sold off sharply, with semiconductor and biotech shares sliding more than 4 percent, and the dollar slipped on Wednesday after government data signalled the U.S. economic expansion was slowing. The Nasdaq was the biggest loser on Wall Street, falling more 2 percent, after a modest rise in equities on …

  • Wall Street stocks sold off sharply, with semiconductor and biotech shares sliding more than 4 percent, and the dollar slipped on Wednesday after government data signaled the U.S. economic expansion was slowing. The yen was up 0.2 percent, at 119.44 to the dollar.

  • House panel votes to repeal federal estate tax Associated Press - Wed, Mar 25, 2015 4:13 PM EDT

    A divided House panel has passed a bill that would repeal the federal estate tax. Republicans say abolishing the tax would help farmers and small business owners keep their businesses in the family. Democrats ...

  • The Compelling Case for Lower Capital Gains Tax Rates The Fiscal Times - Wed, Mar 25, 2015 4:09 PM EDT
    Got Debt? 11 Surefire Ways to Get Back in the Black

    A new report by the non-partisan Tax Foundation shows that America has higher capital gains tax rates than other industrialized countries. Nevertheless, President Obama is pushing Congress to raise taxes ...

  • What are the advantages and disadvantages of a command economy? @ Investopedia - Wed, Mar 25, 2015 3:11 PM EDT

    Learn about the basic tenets of a command economy and what its inherent advantages and disadvantages are versus a free market economy.

  • US durable goods orders stumbled in February Associated Press - Wed, Mar 25, 2015 2:53 PM EDT
    US durable goods orders stumbled in February

    Orders to U.S. factories for long-lasting manufactured goods fell in February, the latest installment of disappointing data this quarter that suggests the economy has hit a soft patch. The weaker-than-expected ...

  • Having a college education is a clear plus in the American job market. Yet once you're out of work, being better educated barely seems to improve your chances of finding a new job within half a year, a recent analysis  by the Bureau of Labor Statistics shows. Of those ages 25 or older with at least a bachelor's degree …

  • What to Watch in the Day Ahead - Thursday, March 26 Reuters - Wed, Mar 25, 2015 2:25 PM EDT

    All times in ET/GMT) U.S. Labor Department is scheduled to issue weekly jAobless claims. Economists polled by Reuters expect initial claims for state unemployment benefits to decline 1,000 to a seasonally adjusted 290,000 in comparison to prior week's reading of 291,000. The consulting and outsourcing company Accenture …

  • Businessmen are seen on the esplanade of La Defense, in the financial and business district in La Defense, west of Paris

    French business morale was at its highest for nearly three years in March, adding to signs the euro zone's No. 2 economy is emerging from stagnation on the back of lower oil prices and a weaker euro. "The increase in confidence is welcome and backs our view that activity in the French economy is likely to have accelerated …

  • Congressional Budget Office: Medicare doc bill cost $214B Associated Press - Wed, Mar 25, 2015 1:59 PM EDT

    The nonpartisan Congressional Budget Office says the bipartisan House deal protecting doctors from steep cuts in Medicare fees would cost $214 billion over the coming decade. In a letter to House Speaker ...

  • Britain's Prime Minister Cameron leaves 10 Downing Street in London

    British Prime Minister David Cameron used his last debate in parliament before a national election on May 7 to try to push his Conservative Party ahead of opposition Labour in stagnant opinion polls by ruling out a rise in value added tax. With both parties neck-and-neck in polls and the economy likely to be a decisive …

  • How does government policy impact microeconomics? @ Investopedia - Wed, Mar 25, 2015 1:11 PM EDT

    Read about how any type of government policy necessarily impacts the microeconomic decisions that are made by individuals and businesses.

  • U.S. House Republicans face test of unity in budget votes Reuters - Wed, Mar 25, 2015 12:20 PM EDT

    In a test of party unity, Republicans in the U.S. House of Representatives on Wednesday are set to vote on the federal budget, using an unusual format meant to overcome lingering internal disagreements over defense spending. Known as a "Queen of the Hill" vote, the process will let lawmakers vote on several budget …

  • Photo illustration of U.S. dollar notes displayed in Johannesburg

    U.S. business investment spending plans fell for a sixth straight month in February, likely weighed down by a strong dollar and weak global demand, leading economists to further lower their first-quarter growth estimates. The Commerce Department's durable goods report on Wednesday was the latest data to suggest economic …

  • Weak U.S. business spending data points to tepid Q1 growth Reuters - Wed, Mar 25, 2015 11:35 AM EDT

    The Commerce Department's durable goods report on Wednesday was the latest data to suggest economic growth braked sharply early in the year, in part due to bad weather and a now-settled labor dispute at the country's busy West Coast ports. While economists largely view the slowdown in activity as temporary, softer …

  • Greece believes it should get the 1.2 billion euros because it says it "overpaid" this amount by using a cash reserve of its own bank stabilisation fund, the Hellenic Financial Stability Facility (HFSF), to recapitalise Greek banks, rather than the bonds of the euro zone bailout fund EFSF. "There was agreement that, legally, …

  • Greece fails in bid for early cash release, reforms awaited Reuters - Wed, Mar 25, 2015 11:28 AM EDT
    A Greek national flag flutters as the parliament building is seen in the background in Athens

    BRUSSELS/ATHENS (Reuters) - Greece failed in a bid on Wednesday to secure a quick cash payment from the euro zone rescue fund to help stave off potential bankruptcy next month, raising pressure on Athens to deliver a convincing reform programme within days. Athens had appealed for the European Financial Stability Facility …

  • Brazil's bank lending up slightly, defaults stable Reuters - Wed, Mar 25, 2015 11:26 AM EDT

    Bank lending in Brazil rose slightly in February while credit defaults were stable, the central bank said on Wednesday. Commercial lending expanded 0.5 percent in the month, while revised figures showed a drop of 0.16 percent in January from December. The sharp depreciation of Brazil's currency, the real , explains …

  • Greece not entitled to 1.2 bln euros from bank recap -EFSF Reuters - Wed, Mar 25, 2015 11:11 AM EDT

    Greece believes it should get the 1.2 billion euros because it says it "overpaid" this amount by using a cash reserve of its own bank stabilisation fund, the Hellenic Financial Stability Facility (HFSF), to recapitalise Greek banks, rather than the bonds of the euro zone bailout fund EFSF. "There was agreement that, …

  • Cameron Wrongfoots Miliband With Pledge Not to Increase U.K. VAT @ Bloomberg - Wed, Mar 25, 2015 11:06 AM EDT

    Labour leader Ed Miliband immediately said no one would trust the premier, pointing out the rate was increased to 20 percent from 17.5 percent in Chancellor of the Exchequer George Osborne’s first budget in 2010 after Cameron had said he had “no plans” to increase it. The party leaders traded jibes as the economy remained …

  • The FOMC’s Dot Plot Shows More Expectations of a Lower Rate Market Realist - Wed, Mar 25, 2015 11:05 AM EDT

    The dot plot released at the March 2015 meeting indicates that more policymakers are expecting a lower federal funds rate than in December.

  • IMF backs Irish request for budget flexibility from EU Reuters - Wed, Mar 25, 2015 11:03 AM EDT

    The IMF backed Ireland's calls for the European Commission to grant it some budget flexibility on Wednesday, saying the current fiscal rules do not reflect an Irish economic recovery "starting to fire on all cylinders". After years of painful budget cuts to get its public finances under control, Ireland demanded more leeway …

  • Greece's Debt Crisis Explained @ Bloomberg - Wed, Mar 25, 2015 10:45 AM EDT

    Time is running out for Greece. By early April, the Greek government will have a bond payment come due, and there will be no way for the government to make the payment unless it gets a fresh tranche of ...

  • Brazil finance minister to resume senate talks next week Reuters - Wed, Mar 25, 2015 10:39 AM EDT

    Brazilian Finance Minister Joaquim Levy said on Wednesday he would resume talks with the head of the senate economic affairs committee next week, as he pushes to close a budget gap that is threatening ...

  • Ukraine bondholders face haircuts and extensions Reuters - Wed, Mar 25, 2015 9:50 AM EDT

    Investors who bought Ukrainian bonds as a punt on a high-yield market backed by the West will probably have to write off a major part of the investment as their share of an IMF-led bailout for Kiev. Finance Minister Natalia Yaresko wants bondholders to provide $15.3 billion in debt relief over four years. This would …

  • Why the Fed Will Have to Do More Than Just Raise Interest Rates @ TheStreet.com - Wed, Mar 25, 2015 9:25 AM EDT

    The Fed may soon be selling off long term bonds acquired through three rounds of quantitative easing.

  • Irish property prices fall for second successive month Reuters - Wed, Mar 25, 2015 9:02 AM EDT

    Irish residential property prices fell for the second successive month in February, dropping 0.4 percent to slow a recovery from a real estate crash. Property prices have rebounded sharply - as much as 14.9 percent - after being cut in half by the bursting of a bubble in 2008. They were the fastest growing in the European …

  • Bank of Portugal Raises 2015, 2016 Growth Forecasts on Exports @ Bloomberg - Wed, Mar 25, 2015 9:00 AM EDT

    Gross domestic product will rise 1.7 percent in 2015, 1.9 percent in 2016 and 2 percent in 2017, the Bank of Portugal said in Lisbon on Wednesday. Portugal, which received a bailout in 2011, followed Ireland in May when it exited the aid plan without the safety net of a precautionary credit line. The government now plans …

  • Brazilian Real Sinks as Central Bank Plans to Pare Back Support @ Bloomberg - Wed, Mar 25, 2015 8:20 AM EDT

    The real slipped 0.5 percent to 3.155 per dollar at 9:08 a.m. in Sao Paulo after reaching a 12-year low last week. The real is the worst performing major currency this year, sinking 16 percent against the dollar as President Dilma Rousseff struggles to persuade lawmakers to pass measures that she says will help ensure …

  • Romania May Cut Taxes From June to Boost GDP Growth, Ponta Says @ Bloomberg - Wed, Mar 25, 2015 6:56 AM EDT

    The Bucharest-based cabinet will decide by mid-April whether to cut VAT to 20 percent from 24 percent, or alternatively, to 9 percent only for some food products, Ponta told reporters in Bucharest on Wednesday.

  • Shares in Hermes were standout losers, falling 1.9 percent after the French luxury goods maker said foreign exchange rates had dragged its margins lower. Hermes has a strong exposure to Japan. Shares in Acerinox, Outokumpu and Aperam surged between about 4 percent and 6 percent after Europe said it will impose punitive …

  • S.Africa says power cuts cost economy up to $6.8 bln/month Reuters - Wed, Mar 25, 2015 3:46 AM EDT

    Electricity cuts by South Africa's ailing power utility Eskom cost the economy between $1.7 billion and $6.8 billion a month, according to a presentation by the department of public enterprises to parliament ...

  • Dollar Staves Off Another Reversal Risk DailyFX - Wed, Mar 25, 2015 12:45 AM EDT

    Dollar Staves Off Another Reversal Risk

  • Alberta to Target Oil Shock With Budget Boosting Taxes @ Bloomberg - Wed, Mar 25, 2015 12:00 AM EDT

    Prentice is poised to release one of the harshest budgets in a generation on Thursday, filled with spending cuts, new user fees and income-tax increases to fill a C$7 billion ($5.6 billion) budgetary hole sparked by plunging oil prices. Prentice has said this year’s budget, to be released at about 3:15 p.m. in Edmonton, …

  • Alberta, the Canadian province that is the largest source of U.S. crude oil imports, will ask citizens to pay more for health care and cut the amount of resource revenue used to fund government operations as it looks to return to a balanced budget in fiscal 2017, Premier Jim Prentice said on Tuesday. The province, …

  • Rajoy’s Top Adviser Pledges No Election Spending Spree in Spain @ Bloomberg - Tue, Mar 24, 2015 8:01 PM EDT

    The Spanish economy, Europe’s fifth-largest, is growing faster than the government projected when Rajoy set out his spending plans for the final year of his term though his party is still lagging the anti-austerity party Podemos in most recent opinion polls. “If there is an improvement in economic growth and tax collection, …

  • Greeks Celebrate Independence as EU Creditors Discuss Their Fate @ Bloomberg - Tue, Mar 24, 2015 8:01 PM EDT

    The European Central Bank Governing Council will hold a weekly call to assess the Emergency Liquidity Assistance keeping Greece’s banking system afloat while euro-area finance ministry officials will have a separate discussion on the progress of the country’s economic policy program. The government of George Papandreou …

  • With defense and deficit hawks still eyeing each other warily over the federal budget, House Republican leaders predicted on Tuesday that their fractious caucus would close ranks and support a 10-year balanced-budget plan. Some Republican lawmakers want more military spending, while others focus on keeping the budget …

  • Oil price fall forces North Dakota to consider austerity Associated Press - Tue, Mar 24, 2015 7:06 PM EDT
    Oil price fall forces North Dakota to consider austerity

    Two years ago, North Dakota was so flush with money from the energy boom that lawmakers spent over $1 million to spruce up the cafe at the state Capitol. Now, the fall in oil prices has tightened the revenue ...

  • Brazil's leader committed to austerity with social focus Reuters - Tue, Mar 24, 2015 7:06 PM EDT

    Brazilian President Dilma Rousseff said on Tuesday her government is firmly committed to fiscal adjustment but will not sacrifice social programs to balance its overdrawn public accounts. "The government knows that the adjustment is fundamental for Brazil, but that does not mean that social policies will not be maintained," …

  • The Worst Performing Currencies Of 2015 @ Investopedia - Tue, Mar 24, 2015 7:01 PM EDT

    The U.S. dollar has strengthened over the past year while weakness in Europe and the former Soviet Union has led to declines in those currencies.

  • GOP moves ahead on budget plans; eyes Obamacare repeal bill Associated Press - Tue, Mar 24, 2015 6:42 PM EDT

    House and Senate Republicans steamed ahead Tuesday toward likely approval of balanced budget outlines, essential early steps along a path to send President Barack Obama legislation to wipe out his five-year-old ...

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