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Economy, Government & Policy

  • In Canada's economy there's Alberta, and there's everywhere else. The oil- and gas-rich western province was responsible for all of the country's net employment growth over the past 12 months, adding 81,800 jobs while the rest of Canada lost 9,500. Alberta's trade surplus, C$7.4 billion ($6.9 billion) in May, almost matched …

  • Task force collects $15.6M in unpaid wages, taxes Associated Press - 20 minutes ago

    A multi-agency task force in Massachusetts charged with recovering money lost in the underground economy has collected more than $15.6 million. Massachusetts Labor Secretary Rachel Kaprielian said the ...

  • Michigan approves 9 projects to add 3,900 jobs Associated Press - 28 minutes ago

    Michigan on Tuesday approved state incentives for nine economic development projects expected to bring about 3,900 jobs, nearly half from General Motors consolidating engineering jobs from outside the ...

  • The Bank of England is weighing up conflicting data on Britain's labour market as it prepares to start raising interest rates off their record low of the last five years, BoE Governor Mark Carney said on Wednesday. Britain's economy is now back to its size of before the financial crisis but the mismatch between strong …

  • The pluses and minuses of zero rates MrTopStep.com - 57 minutes ago

    Zero interest rates boost the effects of fiscal policy, the adjustment of tax and spending. Even those who are philosophically opposed to using monetary policy to create jobs generally agree on that. The same way, allowing people to borrow money cheaply to then grow it in the stock market only drives up stock prices.  …

  • Professor Krugman is at it again—–conjuring fairy tales about a benign long-term fiscal outlook. Notwithstanding that the public debt has surged from 40% to 75% of GDP during the six short years since ...

  • Strong U.S. Data Squashes Euro Benzinga - 1 hour 48 minutes ago

    Following the release of strong US data, the euro took a hit as investors saw the direction of the eurozone economy diverging from that of the US. The common currency traded at $1.3466 at 8:20 GMT on Wednesday, ...

  • * EU threatens Russia with harsher sanctions LONDON, July 23 (Reuters) - The euro hit an eight-month low against the dollar on Wednesday as worries over tougher sanctions on Russia and their potential impact on fragile euro zone growth drove investors away from the single currency. Harsher steps could be a particular …

  • Bank of England Governor Mark Carney said interest-rate increases in the U.K. will be more restrained than in the past as he warned that the challenges standing in the way of the recovery are likely to persist. While the normalizing economy will warrant higher rates, the Monetary Policy Committee has “no pre-set course” …

  • HONG KONG/LONDON, July 23 Fitch Ratings has affirmed Malaysia's Long-Term Foreign and Local Currency Issuer Default Ratings at 'A-' and 'A' respectively. The issue ratings on Malaysia's senior unsecured ...

  • Overhauls in Greek markets, the economy and public administration are delivering results, the European Commission said today, signaling divisions among official creditors over the country’s progress. “Greek public administration has continued significant rationalization of the workforce” the Commission’s Task Force said …

  • European Union ministers agreed on Wednesday to set the conversion rate of Lithuania's currency, the litas, at 3.4528 to the euro when the country adopts the single European currency from the start of next year. The rate is the same as the central parity rate at which the litas is fixed in the EU's Exchange Rate Mechanism, …

  • Pedestrians walk past the Bank of England in the City of London

    Bank of England officials discussed in July whether there was a case for an early rate rise to cool Britain's economy, but were held back in part by strikingly low wage growth and signs of weakness abroad. The nine members of the Monetary Policy Committee were unanimous when they voted to keep interest rates on hold at …

  • What markets DON'T do as politics turn nasty @ CNBC - 2 hours 57 minutes ago

    Like so much in the investment world of late, it's what financial markets are not doing right now that is most intriguing.

  • German bond yields fell back towards record lows on Wednesday as worries over tougher sanctions on Russia and their potential impact on the euro zone's feeble economic growth underpinned demand for Bunds. ...

  • So far this year, the U.S. has made great progress in reducing long-term unemployment. The longer it persists, the harder it is to solve -- both because the long-term unemployed find it harder to get jobs and because the resulting erosion of productive capacity complicates the challenge of stimulating economic growth without …

  • The worst World Cup defeat in Brazil’s history is worsening President Dilma Rousseff ’s re-election chances and proving a boon for swaps traders. A Datafolha poll last week showing for the first time that there would be no clear winner in a runoff between Rousseff and opponent Aecio Neves is hastening a decline in the …

  • A trader works at Frankfurt stock exchange

    European equities edged higher in early trade on Wednesday, extending gains from Tuesday after a batch of positive earnings and U.S. economic data briefly calmed worries over stretched valuations and the pace of economic recovery. The pan-European FTSEurofirst 300 share index was 0.3 percent higher at 0742 GMT, buoyed …

  • Some call state sales-tax holidays gimmicks that rely on bad tax policy and cost states much-needed money. Others say the tax-free shopping days boost local economies by getting more people into stores ...

  • A man walks past the London Stock Exchange in the City of London

    European equities edged higher in early trade on Wednesday, extending gains from Tuesday after a batch of positive earnings and U.S. economic data briefly calmed worries over stretched valuations and the ...

  • In Canada’s economy there’s Alberta, and there’s everywhere else. The oil- and gas-rich western province was responsible for all of the country’s net employment growth over the past 12 months, adding 81,800 jobs while the rest of Canada lost 9,500. Alberta’s trade surplus, C$7.4 billion ($6.9 billion) in May, almost matched …

  • The Bank of England said some members of its Monetary Policy Committee have started to argue that the risk of a rate increase undermining the recovery has fallen as growth becomes more entrenched. The nine-member panel led by Governor Mark Carney “would have the opportunity to consider in more depth” labor market indicators …

  • * Geopolitical tensions keep bonds, euro trading cautiously "Markets will be dominated by consolidation moves due to the uncertainty, combined with high valuations."

  • * Australian dollar rises on surprisingly high core inflation LONDON, July 23 (Reuters) - The euro hit an eight-month low against the dollar on Wednesday as worries over tougher sanctions on Russia and their potential impact on fragile euro zone growth drove investors away from the single currency. The euro also fell …

  • Derrick sees parallels with the early 1990s when Germany refused to surrender its hard money dogma even as it transmitted pain elsewhere. The 18-member euro area’s emergence from a two-year recession is proving sluggish, with inflation about a quarter of the ECB target and unemployment above 20 percent in Spain and Greece. …

  • Nakaso, nominee to become the Bank of Japan's deputy governor, attends a hearing session in Tokyo

    Bank of Japan Deputy Governor Hiroshi Nakaso said the country was eyeing an end to deflation as rising wages and inflation expectations allow companies to increase prices of their goods, signalling confidence over a sustained economic recovery. "The conquest of deflation in Japan is now in sight. The former career central …

  • Traders work on the floor of the New York Stock Exchange

    Like so much in the investment world of late, it's what financial markets are not doing right now that is most intriguing. Over the course of the past month, conflicts, superpower standoffs and economic sanctions have flared in Iraq and Syria, Israel and Gaza, Ukraine and Russia. Yet the world's main financial markets …

  • A pedestrian looks at an electronic board showing stock market indices outside a brokerage in Tokyo

    Like so much in the investment world of late, it's what financial markets are not doing right now that is most intriguing. Over the course of the past month, conflicts, superpower standoffs and economic sanctions have flared in Iraq and Syria, Israel and Gaza, Ukraine and Russia. Yet the world's main financial markets …

  • [$$] Aid Veterans Affairs by Nixing Budget Gimmickry @ The Wall Street Journal - 9 hours ago

    Years of trickery and woefully inadequate funding led to the recent VA wait-time scandal.

  • Nickole Gambrill is still paying the price for graduating college at the wrong time. She and other students who earned diplomas in the aftermath of the deepest U.S. recession since the 1930s are experiencing an earnings hangover that could last a lifetime, even as the labor market heals. Gambrill accepted the first paralegal …

  • President-elect Joko Widodo said he's aiming for a growth pace Indonesia hasn't seen since before the 1990s Asian financial crisis, a shift that would bolster the clout of the world's fourth most-populous nation. "We must address shortcomings in infrastructure, manufacturing, and then we need to invest more in strong human …

  • Before the Federal Reserve and fellow central banks go to work raising interest rates, they first need others to go to work. The approach leaves investors bracing for global monetary policies to diverge after the post-crisis embrace of easy money. Accelerating job creation -- and the hope this will spur wages -- leaves …

  • Allergan employees have mixed emotions as layoffs loom @ Los Angeles Times - 14 hours ago

    Feelings were mixed among Allergan Inc. employees one day after the Botox maker announced 1,500 job cuts, mostly in Southern California.

  • America’s appetite for German stocks is cooling as Europe ’s biggest economy shows signs of weakening and its equities hover near record levels. Traders have pulled almost $817 million in the past six weeks from a U.S. exchange-traded fund holding German companies, while investing $270 million in an ETF of broader European …

  • Summers On Stagnation @ Seeking Alpha - 15 hours ago

    [Originally published on 6/24/2014] Larry Summers has published a very interesting speech, U.S. Economic Prospects: Secular Stagnation, Hysteresis, and the Zero Lower Bound. I heard a version of the same ...

  • The Case For Higher Rates Looks Weak... Again @ Seeking Alpha - 15 hours ago

    Some analysts are again projecting that the age of higher interest rates has finally arrived. The Fed is tapering and the US economy is expanding moderately, despite a first-quarter setback. David Kotok, ...

  • Contrarian's case: Why US could dip into recession

    Just as the U.S. economy is strengthening, other countries are threatening to drag it down. Employers in the U.S. are creating jobs at the fastest pace since the late 1990s and the economy finally looks ...

  • Business Highlights Associated Press - 16 hours ago

    ___ Contrarian's case: Why US could dip into recession Just as the U.S. economy is strengthening, other countries are threatening to drag it down. Employers in the U.S. are creating jobs at the fastest ...

  • Winning calls by Levy forecasters over decades Associated Press - 16 hours ago

    It's a forecast so out of the mainstream, it's hard to believe: a U.S. economy in recession next year, triggered by steep downturns abroad. But its author, David Levy, 59, comes from a family of forecasters ...

  • In real, population-adjusted terms, Retail Sales are at the level we first reached in September 2004. Last week the Advance Retail Sales Report showed that sales in June rose 0.2% month-over-month and ...

  • Bond insurers vow to fight Detroit financial plan

    Companies that insure Detroit bonds and stand to lose millions repeated a pledge Tuesday to aggressively challenge the city's bankruptcy plan, a day after retirees endorsed pension cuts and qualified for ...

  • 10 Financially Best Cities to Retire In @ Wall St. Cheat Sheet - 18 hours ago

    You’ve probably seen dozens of lists of places to retire in, but they seldom focus on financial factors, which are important when you live off your savings.

  • Unemployment And Growth: The Fed Is In No Hurry @ Seeking Alpha - 18 hours ago

    Following my post on the labor mismatch, I focus today on a relationship that was first reported by Arthur Okun in 1962. The Okun's law reports a negative relationship between the unemployment rate (or ...

  • Illinois Governor Pat Quinn on Tuesday signed legislation to fund state-wide transportation projects with $1.1 billion of bonds. The Democratic governor said the projects will improve roads, bridges and ...

  • Sanctions Could Push Russia Into Recession @ BusinessWeek - 19 hours ago

    Measures that target Russia’s core industries will depress consumption and investment

  • The Long-term Unemployed May Finally Get a Break The Fiscal Times - 19 hours ago

    It’s been a rough year for the long-term jobless, with Congress refusing to renew an extension of federal unemployment benefits and some states slashing already-meager safety net programs, but a new study by a pair of Federal Reserve Board economists offers some hope for the future. In a paper issued this week, Tomaz Cajner …

  • Is Your Portfolio Exposed To This International Risk? StreetAuthority Network - 20 hours ago

    Lost in all of the global action around Israel and Gaza, Russia and Ukraine and the slow-burning Iraqi civil war, investors have already forgotten about Banco Espirito Santo. This Portuguese bank

  • A key Democratic senator on Tuesday decried the recent wave of American companies restructuring abroad to avoid U.S. taxes, describing it as a virus infecting the economy and urging legislation to halt ...

  • Wyoming unemployment rate at 4 percent in June Associated Press - 20 hours ago

    Wyoming's unemployment rate stood at 4 percent in June, down from 4.6 percent for the same month last year. The Research & Planning section of the Wyoming Department of Workforce Services reports that ...

  • Several states will once again offer sales tax holidays during the critical back-to-school shopping period.

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