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Economy, Government & Policy

  • [$$] The Move-to-Ireland Tax Reform @ The Wall Street Journal - 6 minutes ago

    The G-20's revenue police will drive more companies to low-tax countries.

  • With gasoline prices dropping in California, a business coalition may have a tough time winning public support for a campaign to delay the next phase of a state program to combat climate change.

  • Asian shares slip on jitters over China growth Associated Press - 50 minutes ago

    Asian shares were mostly lower Monday as investors awaited the release of a preliminary manufacturing survey from China this week that might show renewed weakness in the world's second-largest economy. ...

  • In 2004, Brazil’s then-President Luiz Inacio Lula da Silva and 400 executives went on a six-day trip to China. A decade later, ties between Brazil and China have never been stronger. Lula’s decision to court China and at the same time spurn some U.S. In May 2004, the month Lula visited China in what he called his government’s …

  • * Investors await China flash PMI data on Tuesday TOKYO, Sept 22 (Reuters) - Asian shares skidded on Monday as investors awaited data this week that could provide more evidence of a slowdown in China, while the dollar gave back a little of its recent gains. China's flash manufacturing PMI reading on Tuesday could come …

  • [$$] Markets' Best Friend: Miscalculation @ The Wall Street Journal - 1 hour 56 minutes ago

    Money managers have repeatedly misjudged the risks of inflation, higher interest rates and market volatility, but this misunderstanding has been teriffic for stock and bond performance.

  • Mario Draghi’s stimulus pledge didn’t convince investors for long. Exactly one month since the European Central Bank president told his global peers he was ready to act to avert deflation in the euro area, bets on consumer prices have collapsed. Investors are speculating that Draghi, who speaks in Brussels today, is running …

  • The opposition Labour finance spokesman, Ed Balls , will tomorrow pledge to cut U.K. ministers’ pay by 5 percent and reintroduce a top 50 percent rate of income tax to help eliminate the budget deficit if his party wins election next year. Increases in child benefit, paid to most parents with children, would also be capped …

  • The Italian state has freed up more than 30 billion euros to pay debts owed by public-sector bodies to suppliers, but old systems and inefficiency have slowed down repayments, the prime minister's office said on Sunday. Italy's public sector bodies have made suppliers wait months before invoices were settled, starving …

  • Treasury Secretary Lawrence Summers called for a “major” plan to boost the country’s economic growth and said borrowing to fix aging infrastructure would help lower the jobless rate. “What we need in the United States is a comprehensive growth strategy to get that rate from a struggling 2 percent to a 3 percent,” Summers …

  • Nevada's decision to give Tesla $1.3 billion in tax cuts to locate it's new battery plant there has generated a fair amount of complaints about incentives like this where states or municipalities give big companies tax cuts to locate factories or warehouses in them. On a per job created basis [...]

  • US shale gas exports to hit Gazprom revenue @ Financial Times - 11 hours ago

    Russia's Gazprom could lose 18 per cent of the state-owned energy group's revenues as a result of competition from US liquefied natural gas exports, according to a New York-based think-tank. European consumers ...

  • Prudential fixed income analysts outline three scenarios for China growth under new open market reforms.

  • Smooth path for economy remains elusive @ MarketWatch - 12 hours ago

    After experiencing a series of ups and downs since the end of a recession in mid-2009, the U.S. economy appears poised for a smoother ride in the year ahead. Or does it? The signals, as usual, are ...

  • Israeli Finance Minister Yair Lapid said he is close to a deal with Prime Minister Benjamin Netanyahu on the 2015 budget, easing political tensions that roiled the country’s ruling coalition in recent weeks. “Tomorrow I will meet with the prime minister to continue our work on the 2015 budget,” Lapid told reporters yesterday …

  • BERLIN/PARIS (Reuters) - Germany and France will try to reconcile divergent visions of how to fix Europe's economy on Monday when Manuel Valls makes his first visit to Berlin as French prime minister and holds talks with Angela Merkel. The difference is that Berlin gradually went about bringing its fiscal house into order, …

  • Mexico ’s economy is expanding in line with the government’s 2014 forecast as domestic consumer demand accelerates, Deputy Finance Minister Fernando Aportela said in an interview in Cairns, Australia. Growth driven by the manufacturing and export sector is now also spilling over to domestic demand and fueling a recovery …

  • What was the millionaire boom? @ Investopedia - Sat, Sep 20, 2014 11:00 PM EDT

    When Ronald Reagan took office in 1981, he brought in an agenda to try and clear the remnants of stagflation that plagued the nation in the 1970s. His strategy, referred to as Reaganomics, was to reduce ...

  • Visco Says ECB May Not Need to Add Stimulus Amid Euro Decline @ Bloomberg - Sat, Sep 20, 2014 9:56 PM EDT

    The European Central Bank may not need to add stimulus measures after steps in the past three months pushed down the euro, said Governing Council member Ignazio Visco “Inflation expectations have to be back where they were,” Visco said in an interview in Cairns, Australia, where he is attending a meeting of Group of 20 …

  • Manufacturing in Ohio seeing slow, steady growth Associated Press - Sat, Sep 20, 2014 4:25 PM EDT
    Manufacturing in Ohio seeing slow, steady growth

    Ohio's identity is tied in many ways to what it has made for generations — steel, cars, glass, tires and, yes, even footballs. While manufacturing alone no longer dominates the state's economy, its fortunes ...

  • Lawmakers wary of university budget proposal Associated Press - Sat, Sep 20, 2014 2:16 PM EDT

    While some New Hampshire lawmakers like the idea freezing in-state tuition at public colleges for another two years, they aren't ready to increase funding for the university system by 34 percent. After ...

  • ESM's chief says EU, IMF in no mood for a Greek debt haircut Reuters - Sat, Sep 20, 2014 1:58 PM EDT

    Greece's international creditors have no appetite for considering a haircut as a way to lighten its debt load, the head of the European Stability Mechanism, the euro zone's bailout fund organisaton, told Greek Sunday newspaper Realnews. Athens is anticipating further debt relief measures from its euro zone partners and …

  • Russia's Novatek may get funds from the National Wealth Fund for its Yamal LNG project before the year-end, a minister said, as part of government plans to support sanction-hit companies. Russia's No.2 gas producer, co-owned by an ally of President Vladimir Putin, Gennady Timchenko, was put on the Western sanctions list …

  • Unused funds in the euro zone's rescue mechanism could be used to boost investment across the continent and help it recover from the worst financial crisis in a generation, according to a German newspaper report on Saturday. Sueddeutsche Zeitung said experts advising incoming Commission President Jean-Claude Juncker want …

  • For Poor Countries, China Is No Model @ The Wall Street Journal - Sat, Sep 20, 2014 4:59 AM EDT

    Essay : State-centered growth may seem like an answer to popular unrest, but the long-term costs are too high, writes Dambisa Moyo.

  • [$$] Army Chief Calls for Rethink of Cuts @ The Wall Street Journal - Sat, Sep 20, 2014 4:56 AM EDT

    The Army's highest-ranking officer said the rapid spread of threats around the world and growing demands on the U.S. military should prompt a review of deep cuts scheduled in the size of America's ground ...

  • [$$] Finding Attractive Stocks Amid Europe's Malaise @ Barrons.com - Sat, Sep 20, 2014 3:53 AM EDT

    They're in! The people of Scotland voted on Thursday to remain part of the United Kingdom, removing the political risk and financial uncertainty of a potentially messy breakup and highlighting a rare zone of economic prosperity in an otherwise dreary Europe. As for the rest of Europe, the euro-zone economy is on course …

  • Weidmann Says Governments Must Take Lead Amid ECB Policy Limits @ Bloomberg - Sat, Sep 20, 2014 2:04 AM EDT

    European Central Bank Governing Council member Jens Weidmann said monetary policy can only play a limited role in fostering growth, encouraging governments to press ahead with structural reforms. European countries with high debt levels should focus on a “credible path toward sustainable public finances” and restructure …

  • South Korea’s Choi Urges Central Bank to Back Growth Efforts @ Bloomberg - Sat, Sep 20, 2014 1:45 AM EDT

    South Korea Finance Minister Choi Kyung Hwan urged the central bank to support Asia’s fourth-biggest economy, saying it’s important for monetary policy to be in “harmony” with government efforts to boost growth. “The Bank of Korea probably shares many of our views regarding the Korean economy,” Choi, 59, said in an interview …

  • Dollar in Longest Rally Since Days of Beatles Albums; Yen Drops @ Bloomberg - Sat, Sep 20, 2014 12:00 AM EDT

    The dollar had the longest rally since teenagers bought Beatles albums and Lyndon Johnson was president as the Federal Reserve signaled interest rates will rise next year while other central banks pushed stimulus plans. Dollar Index rose for a 10th consecutive week, the longest since at least March 1967. Sterling rose …

  • Jobless rates up in 24 states; hiring up in 35 @ USA TODAY - Fri, Sep 19, 2014 8:30 PM EDT

    Georgia had the highest state unemployment rate in August; North Dakota the lowest.

  • California adds 44,200 jobs in August @ Los Angeles Times - Fri, Sep 19, 2014 7:22 PM EDT

    California outpaced its recent job growth as employers added 44,200 nonfarm positions in August — far more than any other state.

  • Nevada jobless rate ticks down to 6-year low Associated Press - Fri, Sep 19, 2014 6:31 PM EDT

    Nevada's unemployment rate ticked down last month to its lowest level in six years, helped by rebounds in the construction and business services industries, state officials said. The Department of Employment, ...

  • Layoffs postponed for Ohio uranium plant cleanup Associated Press - Fri, Sep 19, 2014 5:51 PM EDT

    A funding measure approved this week by Congress would at least postpone hundreds of layoffs for workers handling decontamination and decommissioning of a Cold War-era uranium plant in southern Ohio. The ...

  • Business Highlights Associated Press - Fri, Sep 19, 2014 5:48 PM EDT

    ___ Alibaba stock soars in jubilant trading debut Alibaba debuted as a publicly traded company Friday and swiftly climbed more than 40 percent in a mammoth IPO that offered eager investors seemingly unlimited ...

  • Unemployment rates rise in 24 US states in August Associated Press - Fri, Sep 19, 2014 5:17 PM EDT
    FILE - In this Sept. 3, 2014 file photo, former Revel Hotel Casino employees, Jignasha Shah, 45, center, and Ranjitsinh Rana, 56, right, get help from John McCaffery, as they and thousands of other newly laid-off casino workers file for unemployment benefits at the Atlantic City Convention Center in Atlantic City, N.J. The government reports on state unemployment rates for August on Friday, Sept. 19, 2014. (AP Photo/Mel Evans, File)

    Unemployment rates rose in nearly half of U.S. states in August, even as employers in two-thirds of the states added jobs. The Labor Department says unemployment increased in 24 states, fell in 15 and ...

  • U.K. Rating Affirmed by Moody’s as Stable After Scotland Vote @ Bloomberg - Fri, Sep 19, 2014 5:13 PM EDT

    The U.K.’s Aa1 credit rating was affirmed with a stable outlook by Moody’s Investors Service after Scotland voted to maintain its 307-year-old membership, preserving the nation’s institutional and fiscal framework. “While the political process going forward will likely lead to further devolution of powers to Scotland and …

  • France’s Aa1 Rating Affirmed by Moody’s With Negative Outlook @ Bloomberg - Fri, Sep 19, 2014 5:03 PM EDT

    France’s Aa1 credit rating was affirmed by Moody’s Investors Service, which cited the size and wealth of the nation’s economy even as it experiences a gradual erosion of strength. Investors have largely shrugged off credit rating changes, reflecting a shift to a focus on in-house analysis from reliance on ratings companies. …

  • Why better infrastructure is key for strong US economic growth Market Realist - Fri, Sep 19, 2014 5:00 PM EDT

    In the short-term, infrastructure investment helps provide jobs for low skilled workers, who are struggling with the long-term impacts of the financial crisis as well as the increasing impact of technology ...

  • Economic agency lacked spending documentation Associated Press - Fri, Sep 19, 2014 4:33 PM EDT

    Wisconsin's semi-private job creation agency lacked supporting documentation justifying spending on expenses and grants during the first two years of its existence, according to a report released Friday. ...

  • U.S. AAA Credit Rating Affirmed by Fitch With Stable Outlook @ Bloomberg - Fri, Sep 19, 2014 4:20 PM EDT

    The U.S.’s AAA credit-ranking was affirmed by Fitch Ratings , which maintained its stable outlook, while citing nation’s unparalleled financing flexibility and economic recovery. Fitch had upgraded the outlook from negative in March, joining Moody’s Investors Service and Standard & Poor’s in assigning stable views on the …

  • Fitch Affirms United States at 'AAA'; Outlook Stable Reuters - Fri, Sep 19, 2014 4:10 PM EDT

    LONDON, September 19 Fitch Ratings has affirmed the United States of America's Long-term foreign and local currency Issuer Default Ratings at 'AAA' with Stable Outlooks. The ratings on senior unsecured ...

  • SC's unemployment rate increases to 6.4 percent Associated Press - Fri, Sep 19, 2014 3:44 PM EDT

    South Carolina's unemployment rate rose again in August to 6.4 percent, putting the state above the national jobless rate, according to labor data released Friday. The rise of six-tenths of a percentage ...

  • Texas jobless rate up for first time this year Associated Press - Fri, Sep 19, 2014 3:05 PM EDT

    The Texas unemployment rate rose slightly last month, representing the first increase in the rate this year, state officials said Friday. The Texas Workforce Commission announced the state unemployment ...

  • Economic Growth @ Investopedia - Fri, Sep 19, 2014 2:45 PM EDT

    Economic growth happens when the market value of the goods and services in an economy increase in one time period as compared to a prior time period.

  • Italy's Renzi, unions clash over cuts, labour reforms Reuters - Fri, Sep 19, 2014 2:31 PM EDT

    * Public sector unions to march against pay freeze on Nov. 8 * Metal workers to protest labour reform plans on Oct. 18 * Hits back at unions as tensions mount (Adds Renzi comments, background) ROME, Sept 19 (Reuters) - Italian public sector workers on Friday announced plans for a one-day demonstration on Nov. 8 against …

  • Cheapest Gas In 4 Years Likely To Come This Fall Benzinga - Fri, Sep 19, 2014 1:54 PM EDT

    According to GasBuddy.com , Friday's morning benchmark average national price for gasoline in the United States was $3.36 per gallon. That’s almost $0.16 per gallon cheaper than the average per gallon ...

  • Congress will face a contentious post-election session in November dominated by a longer-term spending bill and more wrenching questions over President Barack Obama's strategy to defeat Islamic State militants in Iraq and Syria. Lawmakers darted home on Thursday after approving stopgap funding to avert a government shutdown …

  • The ECB’s monetary leap of faith @ MarketWatch - Fri, Sep 19, 2014 1:47 PM EDT

    The latest moves by Mario Draghi will likely have the same effect, or lack there of, as the previous steps taken to try and right the European economy.

  • La. jobless rate rises even as more have jobs Associated Press - Fri, Sep 19, 2014 1:39 PM EDT

    Louisiana's unemployment rate jumped again in August, the fourth straight month with an increase, according to figures released Friday. The state's jobless rate rose to 5.8 percent. Louisiana's unemployment ...

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