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Economy, Government & Policy

  • The hottest economy in the news isn’t in Asia or Latin America: It's time to welcome Nigeria to the scene.

  • Although there are signs that the labor market...

  • These States Have No Income Tax @ Motley Fool - Sat, Apr 19, 2014 10:02 AM EDT

    Seven U.S. states have no income tax, while two more have almost no income tax.

  • Gas Prices Continue To Surge, Reach $4 In Some Cities @ 24/7 Wall St. - Sat, Apr 19, 2014 9:51 AM EDT

    Gas prices continue to move sharply higher as the Memorial Day driving seasons approaches. Nationwide, the average price of a gallon of regular unleaded gas has reached $3.667. A month ago, the price was ...

  • Russia's government has enough resources honour all its social spending pledges although this will not be easy, Prime Minister Dmitry Medvedev was quoted as telling the country's president on Saturday as tensions over Crimea add to Moscow's economic ills. On returning to office in 2012, President Vladimir Putin promulgated …

  • America's fastest shrinking cities @ USA TODAY - Sat, Apr 19, 2014 5:30 AM EDT

    In 30 metro areas the population shrank by at least 1% in recent years.

  • Putin Says Deadline to Pay for Gas Isn’t Linked to Ukraine Vote @ Bloomberg - Sat, Apr 19, 2014 4:24 AM EDT

    Russia wasn’t considering the date of planned elections in Ukraine when it set a deadline for its neighbor to start paying for natural gas supplies, according to Russian President Vladimir Putin. “We don’t tie economics to the political process in Ukraine,” Putin said in an interview on state-run television’s “Vesti With …

  • [$$] Italy Cuts Income Taxes in Effort to Boost Economy @ The Wall Street Journal - Sat, Apr 19, 2014 12:24 AM EDT

    Italy's government on Friday approved the country's first sweeping income tax cuts in more than a decade, giving up to €80 a month in extra cash to three-quarters of the workforce.

  • Tightest Job Market Since 2008 in U.S. Cities Prompts Higher Pay @ Bloomberg - Sat, Apr 19, 2014 12:00 AM EDT

    To hire 10 to 15 project coordinators this year, Sabre Commercial Inc. has boosted pay 10 percent and added a 401(k) retirement plan. “It is an employee’s market,” said John Cyrier, co-founder and president of the 48-employee Austin, Texas-based builder. “We are definitely seeing a labor shortage in Austin and central …

  • Payrolls in California grow by 11,800 @ Los Angeles Times - Fri, Apr 18, 2014 9:22 PM EDT

    California's unemployment rate holds steady at 8.1% amid tepid job growth in March.

  • [video] Rupkey Says Unemployment Data by State `Dramatic' @ Bloomberg - Fri, Apr 18, 2014 8:12 PM EDT

    April 18 (Bloomberg) -- Chris Rupkey, chief financial economist at Bank of Tokyo-Mitsubishi UFJ, talks about data on U.S. payrolls released today. Payrolls climbed in 34 U.S. states in March and unemployment ...

  • Italy PM Renzi cuts taxes for 10 million low earners Reuters - Fri, Apr 18, 2014 7:04 PM EDT
    Italy's Prime Minister Renzi gestures during a news conference at Chigi Palace in Rome

    Italian Prime Minister Matteo Renzi on Friday cut taxes for 10 million low earners to try to boost household spending after a two-year recession, making good on a promise he made after taking office two months ago. Renzi's cabinet passed a decree to reduce taxes for those earning between 8,000 and 26,000 euros a year by …

  • Officials announce plan for Microsoft data center Associated Press - Fri, Apr 18, 2014 6:06 PM EDT

    Microsoft will begin construction on a new data center in West Des Moines, state and local officials announced Friday, bringing the company's total investment in Iowa to nearly $2 billion, the largest ...

  • Unemployment rates fall in 21 US states last month Associated Press - Fri, Apr 18, 2014 5:07 PM EDT
    Unemployment rates fall in 21 US states last month

    More than two-thirds of the states reported job gains in March, as hiring has improved for much of the country during what has been a sluggish but sustained 4 1/2-year recovery. The Labor Department said ...

  • March jobless rates fall in 21 states @ USA TODAY - Fri, Apr 18, 2014 4:49 PM EDT

    Rhode Island had the USA's highest unemployment rate; North Dakota, the lowest.

  • Italy PM Renzi cuts taxes for 10 mln low earners Reuters - Fri, Apr 18, 2014 3:18 PM EDT

    * Funded by spending cuts and one-off measures * Renzi under pressure from EU to keep finances in check (Recasts lead, adds Renzi, Padoan comments) ROME, April 18 (Reuters) - Italian Prime Minister Matteo Renzi on Friday cut taxes for 10 million low earners to try to boost household spending after a two-year recession, …

  • Nevada jobless rate remains 8.5 percent in March Associated Press - Fri, Apr 18, 2014 1:46 PM EDT

    Nevada's jobless rate held steady in March at 8.5 percent, the same as the month before, the Nevada Department of Employment, Training and Rehabilitation reported Friday. But the report noted that the ...

  • Italy govt cuts income taxes for 10 mln low earners-PM Renzi Reuters - Fri, Apr 18, 2014 12:44 PM EDT

    Italy's government on Friday passed a decree cutting income tax for 10 million Italians earning between 8,000 and 26,000 euros a year and will be funded mainly by permanent spending cuts, Prime Minister Matteo Renzi said. He told reporters after a cabinet meeting that tax cuts for very low earners who already do not make …

  • Utah jobless rate increased slightly in March Associated Press - Fri, Apr 18, 2014 11:46 AM EDT

    Utah's unemployment rate increased slightly last month, the first time since last July the rate has climbed instead of falling. The Department of Workforce Services announced Friday that the state's jobless ...

  • Va.'s jobless rate rises to 5 pct in March Associated Press - Fri, Apr 18, 2014 11:46 AM EDT

    The Virginia Employment Commission says the state's jobless rate rose slightly to 5 percent in March. The state's seasonally adjusted unemployment rate is up from 4.9 percent in February and down from ...

  • Colorado adds 3,3000 jobs from February to March Associated Press - Fri, Apr 18, 2014 11:44 AM EDT

    The Colorado labor department says the state had 3,300 more non-farm jobs in March than in the previous month, for a total of more than 2.4 million. The March employment report also says unemployment rose ...

  • Miss. jobless rate rises in March as payrolls fall Associated Press - Fri, Apr 18, 2014 11:43 AM EDT

    Mississippi's unemployment rate rose to 7.6 percent in March as more people entered the labor force than could find jobs. A separate survey shows state employer payrolls fell for the fourth straight month. ...

  • Nebraska jobless inches up to 3.7 percent Associated Press - Fri, Apr 18, 2014 11:43 AM EDT

    Nebraska's preliminary unemployment rate inched up a tenth of a point to hit 3.7 percent in March, but the state's jobless rate remains one of the lowest in the nation, according to a state report released ...

  • SC unemployment fell to 5.5 percent in March Associated Press - Fri, Apr 18, 2014 11:41 AM EDT

    South Carolina's unemployment rate continued a nearly yearlong decline last month, falling for the 10th month in a row, state officials said Friday. The state's jobless rate was 5.5 percent in March, according ...

  • Iowa's unemployment rate climbs to 4.5 percent Associated Press - Fri, Apr 18, 2014 11:40 AM EDT

    Iowa's unemployment rate climbed to 4.5 percent in March as more people entered the labor force. Iowa Workforce Development announced Friday the rate was up from 4.4 percent in February. It compared to ...

  • Florida unemployment rate up slightly Associated Press - Fri, Apr 18, 2014 11:40 AM EDT

    Florida's unemployment rate ticked up slightly to 6.3 percent in March. The numbers released Friday represent a slight setback in the forward movement of the state's economy, an increase of 0.1 percent ...

  • Pa. unemployment rate drops to 6 percent in March Associated Press - Fri, Apr 18, 2014 11:39 AM EDT

    Pennsylvania's jobless rate has continued its steady decline. The state Department of Labor and Industry says unemployment fell two-tenths of a percentage point to 6 percent in March. That's the lowest ...

  • Texas jobless rate slips to 5.5 percent in March Associated Press - Fri, Apr 18, 2014 11:38 AM EDT

    The Texas unemployment rate has slipped to 5.5 percent. The Texas Workforce Commission on Friday announced the March unemployment figure, compared to a 5.7 percent statewide jobless rate in both January ...

  • Arkansas unemployment rate dips below 7 percent Associated Press - Fri, Apr 18, 2014 11:37 AM EDT

    State officials say Arkansas' unemployment rate has dropped below 7 percent for the first time in more than five years. The Arkansas Department of Workforce Services says the state's unemployment rate ...

  • Vermont unemployment rate drops to 3.4 percent Associated Press - Fri, Apr 18, 2014 11:37 AM EDT

    The Vermont Department of Labor says the state's unemployment rate dropped three-tenths of a percent last month to 3.4 percent, the fourth lowest unemployment rate in the country. Labor Commissioner Annie ...

  • Alabama jobless rate jumps to 6.7 percent Associated Press - Fri, Apr 18, 2014 11:36 AM EDT

    Alabama's unemployment rate is rising. The state Department of Labor says Alabama's March unemployment rate is 6.7 percent, which is three-tenths of a percent higher than the February rate. It's also above ...

  • Mo. House votes to expand sales tax exemptions Associated Press - Fri, Apr 18, 2014 11:32 AM EDT

    Pizza parlors, doughnut shops and even convenience stores all could be in line for a tax break on the food that they make and sell as a result of a measure moving through the Missouri Legislature. The ...

  • California adds 11,800 jobs, unemployment rate holds at 8.1% @ Los Angeles Times - Fri, Apr 18, 2014 10:45 AM EDT

    This post has been corrected. See the note below for details.

  • Payrolls Rose in Most U.S. States in March, Led by Florida @ Bloomberg - Fri, Apr 18, 2014 10:25 AM EDT

    Payrolls climbed in 34 U.S. states in March and unemployment rates fell in 21, showing the job market was making progress across much of the world’s largest economy. Florida led the nation with a 22,900 increase in payrolls, followed by North Carolina with 19,400 more jobs, figures from the Labor Department showed today …

  • Ohio unemployment rate drops to 6.1 percent Associated Press - Fri, Apr 18, 2014 10:21 AM EDT

    The state says Ohio's unemployment rate dropped in March to the lowest level in six years. The Ohio Department of Job and Family Services said Friday the seasonally adjusted rate in March was 6.1 percent, ...

  • Mo. Senate panel endorses penny transportation tax Associated Press - Fri, Apr 18, 2014 10:16 AM EDT

    A Missouri Senate committee has endorsed a 1-cent sales tax increase to fund transportation projects. The proposed constitutional amendment passed the House earlier this month. It was adopted by the Senate ...

  • Kansas officials boost revenue estimates by $178M Associated Press - Fri, Apr 18, 2014 10:06 AM EDT

    Kansas officials projected Thursday that the state will collect nearly $178 million more in revenues than previously thought through June 2015, brightening its short-term budget picture. But the new projections ...

  • Mont. gov proposes $45 million in oil-patch grants Associated Press - Fri, Apr 18, 2014 10:00 AM EDT
    Mont. gov proposes $45 million in oil-patch grants

    Montana Gov. Steve Bullock proposed a $45 million grant program Thursday to ease strains on water and sewer systems in eastern Montana towns that have struggled to keep pace with the demands of the fast-growing ...

  • The Perils Of Pauline And The Power Of Monetary Policy @ Seeking Alpha - Fri, Apr 18, 2014 10:00 AM EDT

    When I went to a summer camp (Coindre Hall) on the north shore of Long Island in a large building, which had been the mansion of a "captain of industry" decades before, one night each week we ...

  • NY jobless rate up slightly in March to 6.9 pct. Associated Press - Fri, Apr 18, 2014 9:52 AM EDT

    New York's labor department says the unemployment rate was up slightly to 6.9 percent in March from 6.8 percent in February. It says New York City also saw a slight increase to 8 percent from 7.9 percent ...

  • Rhode Island's jobless rate falls to 8.7 percent Associated Press - Fri, Apr 18, 2014 9:51 AM EDT

    Rhode Island's unemployment rate edged down in March to 8.7 percent, the lowest since September 2008, but the number of jobs also declined, state officials reported Thursday. The state Department of Labor ...

  • Illinois unemployment drops to 5-year-low Associated Press - Fri, Apr 18, 2014 9:47 AM EDT

    Unemployment in Illinois dropped in March to 8.4 percent, the lowest level since 2009, the state Department of Employment Security said Thursday. Unemployment was down from 8.7 percent in February. But ...

  • Why deficit spending supports profits for Sony and Softbank Market Realist - Fri, Apr 18, 2014 9:00 AM EDT

    Though Japan has slightly less than half the U.S. asset–to–net debt ratio, Japan still has the asset base it needs to support this large amount of debt.

  • Fashion house Giorgio Armani paid 270 million euros (222 million pounds) to Italian tax authorities last week to settle a dispute over payments from the group's subsidiaries abroad, Italian newspaper Il Sole 24 Ore reported on Friday. All tax claims against Armani, which saw sales rise to more than 2 billion euros in 2012, …

  • USD/JPY - Unchanged In Holiday Trading @ Seeking Alpha - Fri, Apr 18, 2014 8:08 AM EDT

    By Kenny Fisher The Japanese yen is not showing movement on Friday, as USD/JPY continues to trade in the mid-102 range. In economic news, Japanese Tertiary Industry Activity slipped in March, posting its ...

  • A Short Note On Good Friday @ Seeking Alpha - Fri, Apr 18, 2014 8:05 AM EDT

    Most of the world's markets are closed, but there are a few developments to note. First, a few Asian equity markets were in fact open and most posted small gains. The Shanghai Composite is an exception, ...

  • Rio Mayor says no sports 'mausoleum' like Beijing Associated Press - Fri, Apr 18, 2014 7:24 AM EDT

    Rio de Janeiro Mayor Eduardo Paes is viewed as the key person to speed up the city's delayed Olympics Games preparations. He has been the point man when all three levels of Brazilian government have debated ...

  • Gold Slips After Strong U.S. Job, Manufacturing Data @ Seeking Alpha - Fri, Apr 18, 2014 7:20 AM EDT

    By Kenny Fisher Gold prices dipped on Thursday, falling below the key $1300 level, as excellent readings from Unemployment Claims and the Philly Fed Manufacturing Index helped push down the precious metal. ...

  • Mortgage Reform Is Worth the Small Extra Cost to Borrowers @ The New York Times - Fri, Apr 18, 2014 7:00 AM EDT

    The higher cost for borrowers in a Senate bill reforming Fannie Mae and Freddie Mac corresponds to the protection for taxpayers that was missing in the old system, writes an economist.

  • By Kenny Fisher EUR/USD is trading quietly on Friday, as the pair remains in the mid-1.38 range in the European session. On Thursday, US Unemployment Claims and the Philly Fed Manufacturing Index looked ...

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