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Economy, Government & Policy

  • Argentina may have defaulted on its debt for the second time in 12 years on Thursday, but the packed elegant cafes in Buenos Aires show little sign of distress and shoppers rather than protestors fill the streets. Jose Bini, a 27-year-old Argentine entrepreneur, shrugged off the news of the default with resigned laughter, …

  • China’s manufacturing expanded in July at the fastest pace in more than two years, signaling a pickup in economic growth is strengthening amid government support policies. The Purchasing Managers’ Index ...

  • Treasuries were the world’s worst-performing government bonds over the past two months on speculation employment data will bolster the case for the Federal Reserve to raise interest rates in 2015. U.S. notes and bonds due in more than a year dropped 0.2 percent in the period, the only loss among 26 debt markets, data compiled …

  • Stocks plunge on worries about interest rate increase @ Los Angeles Times - 50 minutes ago

    Wall Street's long-running bull market got a jolt Thursday from investors increasingly worried that the improving economy will push policymakers to raise interest rates sooner than expected.

  • [$$] Dollar's Rally Picks Up Steam @ The Wall Street Journal - 1 hour 2 minutes ago

    A rally in the dollar is picking up steam, as signs of accelerating U.S. growth bolster investor expectations that the Federal Reserve in the coming year will raise interest rates for the first time since ...

  • [$$] Bonds Have Another Think Coming @ The Wall Street Journal - 1 hour 2 minutes ago

    Ahead of the Tape: Friday's jobs report could prove an inflection point for Treasury yields.

  • [$$] U.S. Energy Firms Rewarded With Tax Deferrals @ The Wall Street Journal - 1 hour 3 minutes ago

    The U.S. energy boom is producing a little-noticed side effect: American oil and gas companies are paying less in federal income taxes, thanks to investment incentives.

  • [$$] Highway-Funding Bill Clears Congress @ The Wall Street Journal - 1 hour 4 minutes ago

    Hours before the government was set to cut payments to states, the Senate cleared legislation to fund highway and mass-transit projects through May, agreeing to a 10-month patch passed by the House and ...

  • [$$] U.S. Wages, Benefits Rise at Fastest Pace in Almost Six Years @ The Wall Street Journal - 1 hour 4 minutes ago

    U.S. employers' labor costs rose in the second quarter at the fastest rate in nearly six years, a sign that a tightening labor market may be raising pressure on companies to boost worker pay.

  • Candidate goes homeless to show economic gap Associated Press - 1 hour 17 minutes ago
    Candidate goes homeless to show economic gap

    The Republican candidate for California governor said Thursday he spent a week living as a homeless person in Fresno to highlight the disparity between the governor's claim that the state is making an ...

  • Abenomics, Modinomics ...now Choinomics? @ CNBC - 2 hours 44 minutes ago

    First there was Japan's Abenomics, then Modinomics of India. Now South Korea has coined its own package of economic policies, which economists say will lead to a period of "big bang expansionary growth."...

  • Argentina's Economy Minister Axel Kicillof speaks to the media at a press conference at the Argentine Consulate in New York

    Argentina's bond and stock markets and peso currency dropped on Thursday after Latin America's No. 3 economy defaulted for the second time in 12 years after the failure of last-ditch talks with holdout creditors. The default came after Argentina did not strike a deal with lead holdout investors NML Capital Ltd, an affiliate …

  • 11 Countries Near Bankruptcy 24/7 Wall St. - 3 hours ago

    After years of bitter court battles with creditors, Argentina has defaulted on its debt, according to rating agency Standard & Poor’s. After failing to come to an agreement with creditors from its previous ...

  • A Brazilian worker assembles a Ford car on an assembly line at Sao Bernardo do Campo Ford plant, near Sao Paulo

    RIO DE JANEIRO/BRASILIA (Reuters) - Argentina's debt default threatens to worsen trade tensions in South America, adding to the economic woes of Brazil in a tense election year and causing headaches in Uruguay as the Argentine economy looks likely to plunge deeper into recession. Brazilian exporters of goods ranging from …

  • A woman walks past a graffiti in Buenos Aires

    Argentina's bond and stock markets and peso currency dropped on Thursday after Latin America's No. 3 economy defaulted for the second time in 12 years after the failure of last-ditch talks with holdout creditors. The default came after Argentina did not strike a deal with lead holdout investors NML Capital Ltd, an affiliate …

  • A decline in European inflation in July raises calls for further ECB easing which results in the decline in the value of the euro against the U.S. dollar.

  • Joseba Prieto de las Heras thought a master’s degree would enable him to earn more. Spain ’s labor market decided otherwise, forcing him to accept a position that pays half as much as a student job he had a few years earlier. He’s been managing digital marketing and Web design since January for an online medical information …

  • Business Highlights Associated Press - 3 hours ago

    ___ As US job market strengthens, many don't feel it For millions of workers, happy days aren't quite here again. Though the U.S. unemployment rate has plunged since the start of last year to a five-year ...

  • Lawmakers in El Salvador approved a tax reform bill on Thursday that introduces a minimum income tax targeting loopholes used by the rich, as well as a imposing levy on financial transactions. The measures were approved with a slim majority of 44 votes of the 84 cast with the backing of lawmakers from the ruling leftist …

  • Economists will pull these nuggets from the July employment report.

  • July's employment report is expected to be strong and have the lowest unemployment rate since August 2008-good news for the economy, but possibly bad news for markets.

  • The oil-soaked province is a magnet for young job seekers

  • New York's Federal Reserve Bank warned on Thursday that Puerto Rico needs to improve its financial health soon or face a "painful adjustment." The report came as the island's power company once ...

  • The Dow Jones Industrial Average suffers its biggest one-day drop in six months as a combination of earnings, economic news and a default by Argentina trigger a broad selloff.

  • The U.S. had added at least 200,000 jobs a month for five straight months and the streak is expected to extend to six in July, suggesting the economy is on its firmest footing since the Great Recession ...

  • Lawmakers leave for their break with a whole lot left undone

  • Nearly 100,000 employers in Connecticut are about to get sticker shock as the state mails annual tax bills to pay interest on its $433 million federal loan for unemployment benefits for workers let go ...

  • Top 5 Debtor Nations @ Fox Business - 6 hours ago

    An overview of the riskiest global economies and their levels of debts.

  • Argentina's Economy Minister Axel Kicillof will hold a news conference at 4 p.m. on the country's debt crisis, the ministry said on Thursday.

  • U.S. government debt has weakened since gross domestic product data on Wednesday showed a strong rebound in the second quarter from a weak start to the year. The debt stabilized, however, as investors shifted out of stocks and into bonds for month-end window dressing. "There is some month-end buying, both here and in …

  • Analysts are turning their attention to wage growth and the quality of jobs being created.

  • Ukrainian lawmakers backed a tax increase needed to qualify for a $17 billion bailout by the International Monetary Fund and rejected the prime minister’s resignation after warnings that the country risked a default. “The first major economic news today is that Argentina went into default,” Prime Minister Arseniy Yatsenyuk …

  • Investors are punishing many former Soviet bloc nations for their ties to Russia even as these countries, now European Union members, support sanctions on President Vladimir Putin for his actions in Ukraine. After the ruble, currencies from eastern Europe accounted for five of the six worst-performing emerging-market exchange …

  • This April 9, 2014 photo shows employment signs inn the city of Hobbs, N.M., which are competing for workers to keep up with development in the midst of an oil boom. Virtually every business in town has a help wanted sign out. (AP Photo/Jeri Clausing)

    For millions of workers, happy days aren't quite here again. Though the U.S. unemployment rate has plunged since the start of last year to a five-year low of 6.1 percent, the Gallup Organization has found ...

  • Politicians are indignant over firms that move overseas — even when home-grown tax loopholes, like real estate investment trusts and master limited partnerships, are costlier, Christopher Swann of Reuters ...

  • Afghan Reconstruction Costs Top WWII’s Marshall Plan

    The United States has now spent more money on its effort to rebuild Afghanistan than it spent on helping all of Europe recover from the Second World War, according to the Special Inspector General for Afghanistan Reconstruction. After World War II, the United States enacted what became known as the Marshall Plan, a package …

  • Argentina's Default Isn't About Money Anymore Business Insider - 8 hours ago

    Somewhere in all the talk about vulture...

  • The International Monetary Fund on Thursday signed off on a $154 million loan program for Georgia, meant to help the ex-Soviet republic shore up its economy amid greater geopolitical tensions affecting neighboring countries. The IMF said the approval of the three-year loan program means Georgia gets an immediate disbursement …

  • Behind the GDP Curtain: Boom or Gloom? The Fiscal Times - 8 hours ago
    Behind the GDP Curtain: Boom or Gloom?

    Private sector jobs have been increasing at a rate of about 200,000 a month, and wages have increased two percent over the last 12 months.  The bad news: The labor participation rate is still too low at 62.8 percent and involuntary part-time workers increased to 7.5 million. These numbers come on the heels of a report by …

  • U.S. small businesses narrowly expanded their payrolls in July, according to survey results that may point to a slowdown in hiring across the economy. Small business owners added only 0.01 worker per firm during the month, down from 0.05 worker per firm in June, the National Federation of Independent Business (NFIB) said …

  • U.S. bonds rose on Thursday, partially recovering after Wednesday's strong GDP read piqued fears of a forthcoming rise in interest rates.

  • CNBC Transcript: CNBC Exclusive: Chief Washington Correspondent John Harwood Sits Down with Representative Paul Ryan on CNBC

  • Puerto Rico , the junk-rated U.S. commonwealth, needs to reduce its debt levels, end deficits and broaden its tax base, according to recommendations released today by the Federal Reserve Bank of New York. The island should lower the ratio of public debt to its gross national product to 60 percent -- the level of 2000 -- …

  • A raft of disappointing earnings reports from European heavyweights pushes the region’s stock markets to sharp losses on Thursday, while another soft inflation reading for the euro zone offers little consolation....

  • Argentina was in a race against time on Wednesday to cut a deal by the end of the day with holdout investors who are suing it and to avert its second debt default in a little over a decade. Britain retaliated, and Argentina lost the ensuing brief, but bitter war.

  • The story in Europe is one of a two-speed rebound, with the U.K. continuing to impress on the high side while economic expansion in the Eurozone remains sluggish. Jean-Michel Six, Standard & Poor's Ratings ...

  • U.S. government debt has weakened since gross domestic product data on Wednesday showed a strong rebound in the second quarter from a weak start to the year. The debt stabilized, however, as some investors shifted out of stocks and into bonds to adjust month-end balance sheets. "There is some month-end buying, both here …

  • (More than a dozen states are holding temporary sales tax exemptions this weekend, or in the coming few weeks, in preparation for back to school -- but some say these ...

  • Maine: Fiscal year ended with unexpected revenue Associated Press - 10 hours ago

    Maine ended the fiscal year with $39.1 million more in revenues than officials had expected, Republican Gov. Paul LePage's administration said Wednesday. The extra revenue plus unspent state funds produced ...

  • QE4? Wall Street craves a tax holiday @ CNNMoney.com - 10 hours ago

    As the Fed pulls away the easy-money punch bowl, maybe this bull market needs a "holiday" to keep the party going. No, not another federal holiday to honor a dead president. (Coolidge, perhaps?) ...

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