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Economy, Government & Policy

  • Strangest State Taxes from Around the U.S. Kiplinger - Sat, Dec 31, 2016 2:00 PM EST

    Then there's an even larger patchwork of taxation schemes crafted by 50 state legislatures, all coming up with new ways to extract coin from their citizenry (or create social policy through tax breaks). Maine legislators, a flinty bunch, tax anyone who deals in their official state fruit--wild blueberries, at the rate …

  • Greece has enough cash to repay a last, 350 million-euro (250.9 million-pound) loan instalment to the International Monetary Fund on schedule on Friday, a government official said in Brussels, where Prime Minister Alexis Tsipras was attending an EU summit. We have the money to pay the IMF on Friday," the official told …

  • Greece to make 350 mln-euro loan repayment to IMF on Friday Reuters - Thu, Mar 19, 2015 12:58 PM EDT

    Greece has enough cash to repay a last, 350 million-euro loan instalment to the International Monetary Fund on schedule on Friday, a government official said in Brussels, where Prime Minister Alexis Tsipras was attending an EU summit. We have the money to pay the IMF on Friday," the official told Reuters after Deputy …

  • The labor market recovery has left the...

  • The Middle Class Is Struggling in All 50 States The Fiscal Times - Thu, Mar 19, 2015 12:26 PM EDT

    The middle class shrunk in all 50 states between 2000 and 2013, and median income, adjusted for inflation, was lower at the end of 2013 in the vast majority of states than it was in 2000, according to a new study by the Pew Charitable Trust’s Stateline. At the same time, median income fell from $56,437 to $48,081.

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

    The Bank of England should consider cutting interest rates if inflation threatens to fall further below target than forecast, its chief economist said on Thursday in remarks distancing him from other BoE officials. Sterling hit the day's low against the dollar after Andy Haldane's comments, which mark the first time a …

  • The European Central Bank's 1 trillion-euro (716.7 billion pound) government bond buying campaign will not revive euro zone growth in the longer term unless the region tackles a number of key problems, rating agency Standard and Poor's said on Thursday. A report from S&P's top European sovereign analyst Moritz Kraemer …

  • The Bank of England should consider cutting interest rates if inflation threatens to fall further below target than forecast, its chief economist said on Thursday in remarks distancing him from other BoE officials. Sterling hit the day's low against the dollar after Andy Haldane's comments, which mark the first time …

  • Economic News: Jobless Claims Up A Hair, Dollar Dings Trade @ Investor's Business Daily - Thu, Mar 19, 2015 12:00 PM EDT

    Jobless claims rise a notch There were 291,000 initial claims in the March 14 week, 1,000 more than in the prior weeks, but below forecasts of 293,000. The 4-week moving average rose 2,250 to 304,750. ...

  • U.S. House Speaker John Boehner said on Thursday the House likely will debate adding national security spending to the fiscal year 2016 budget. Boehner told reporters he expects the Republican budget proposal ...

  • People enter the Nassau County Mega Job Fair at Nassau Veterans Memorial Coliseum in Uniondale, New York

    The number of Americans filing new claims for unemployment benefits rose marginally last week, indicating the labour market remained on solid footing despite slowing economic growth. Growth has slowed in the first quarter, undercut by a harsh winter, a strong dollar, weaker overseas economies and a now-settled labour dispute …

  • House Republicans in Standoff Over Deficit, War Funds in Budget @ Bloomberg - Thu, Mar 19, 2015 11:37 AM EDT

    The House Budget Committee approved the plan Thursday while leaving unresolved the demands by many lawmakers for fewer restrictions on defense spending. Not enough committee members supported that, causing the panel to recess late Wednesday night. “I cannot see a circumstance where the Republican Congress would pass a …

  • People speak with job recruiters at the Nassau County Mega Job Fair at Nassau Veterans Memorial Coliseum in Uniondale, New York

    The number of Americans filing new claims for unemployment benefits rose marginally last week, indicating the labor market remained on solid footing despite slowing economic growth. Growth has slowed in the first quarter, undercut by a harsh winter, a strong dollar, weaker overseas economies and a now-settled labor dispute …

  • Job seekers prepare for career fair to open at Rutgers University in New Brunswick, New Jersey

    The number of Americans filing new claims for unemployment benefits rose marginally last week, indicating the labor market remained on solid footing despite slowing economic growth. Growth has slowed in the first quarter, undercut by a harsh winter, a strong dollar, weaker overseas economies and a now-settled labor dispute …

  • A woman counts rouble banknotes as a man holds a loaf of bread at a food market, which operates once a week on Saturday, in the Russian southern city of Stavropol

    Russian President Vladimir Putin said on Thursday it was still too soon to feel confident about the country's economy, in comments backed up by a raft of fresh data showing a slump in retail sales and wages and rising unemployment. Putin told a conference of Russian businessmen the central bank's main interest rate, now …

  • U.S. stocks slip, dollar gains day after Fed view Reuters - Thu, Mar 19, 2015 4:35 PM EDT
    A man looks at a monitor showing the Japan's Nikkei average and the exchange rates between the Japanese yen and the U.S. dollar in Tokyo

    U.S. stocks ended mostly lower on Thursday while the dollar resumed its upward trend in a broad rally as investors resumed a bullish stance on the greenback. The activity was largely a retreat from Wednesday's heavy move into riskier assets like stocks and oil, after the Federal Reserve's policy statement struck a more …

  • Russian President Vladimir Putin said on Thursday it was still too soon to feel confident about the country's economy, in comments backed up by a raft of fresh data showing a slump in retail sales and wages and rising unemployment. Echoing Siluanov, Economy Minister Alexei Ulyukayev also saw positive signs, telling …

  • U.S. stocks slip, dollar gains day after Fed view Reuters - Thu, Mar 19, 2015 4:30 PM EDT
    Traders work on the floor of the New York Stock Exchange

    U.S. stocks were mostly lower on Thursday, continuing a recent bout of volatility as the dollar resumed its upward trend while the euro fell sharply. Thursday's activity represented a retreat from the previous session's heavy move into riskier assets such as stocks and oil brought on by comments from the Federal Reserve, …

  • An employee checks a safe box in the vault of a Swiss bank in Basel

    Switzerland's central bank said it would stay active in markets to weaken an overvalued franc as it cut growth and inflation forecasts, while tumbling exports suggested the soaring currency was already weighing heavily on the economy. At Thursday's policy meeting, the Swiss National Bank also said its benchmark interest …

  • U.S. markets snapped back from strong rallies seen in stocks and crude oil after the Fed on Wednesday surprised investors by suggesting a less aggressive timeline for raising rates. Investors will seek signs of an improving U.S. economy after the Fed removed the word "patient" from its policy statement yet still underscored …

  • Switzerland's central bank said it would stay active in markets to weaken an overvalued franc as it cut growth and inflation forecasts, while tumbling exports suggested the soaring currency was already weighing heavily on the economy. At Thursday's policy meeting, the Swiss National Bank also said its benchmark interest …

  • Economic downturn pushes Brazilians into informal economy Reuters - Thu, Mar 19, 2015 11:12 AM EDT

    Mounting job losses are pushing more and more Brazilians into the informal economy as self-employed workers, leaving them vulnerable to what could be the country's worst recession in 25 years. In the process, they often lose access to welfare benefits and face greater credit restrictions. Self-employed workers, …

  • EU tells Greece time, patience running out Reuters - Thu, Mar 19, 2015 3:55 PM EDT
    A Greek flag flutters by a statue of ancient Greek philosopher Socrates in Athens

    Greek banks reported the largest deposit withdrawals in a month, a sign savers are worried about the outlook for the country's finances and institutions. Prime Minister Alexis Tsipras requested a meeting with the leaders of Germany, France and the main EU institutions on the sidelines of a European Union summit to press …

  • Connecticut Debt Feud Shows Malloy’s Budget Strain @ Bloomberg - Thu, Mar 19, 2015 11:09 AM EDT

    Malloy announced his budget proposal for the next two fiscal years on Feb. 18. Two days later, Nappier, also a Democrat, sent a letter saying the plan underestimated expenses for debt service by $325 million. Nappier’s warning that the practice will harm the state’s standing with bondholders may prove true, said Michael …

  • EU tells Greece time, patience running out Reuters - Thu, Mar 19, 2015 3:49 PM EDT
    France's President Hollande, Greece's PM Tsipras and Cyprus' President Anastasiades attend a EU leaders summit in Brussels

    Greek banks reported the largest deposit withdrawals in a month, a sign savers are worried about the outlook for the country's finances and institutions. Prime Minister Alexis Tsipras requested a meeting with the leaders of Germany, France and the main EU institutions on the sidelines of a European Union summit to press …

  • EU tells Greece time, patience running out Reuters - Thu, Mar 19, 2015 3:50 PM EDT
    European Commission President Juncker welcomes Greek Prime Minister Tsipras, ahead of a meeting at the EU Commission headquarters in Brussels

    Greek banks reported the largest deposit withdrawals in a month, a sign savers are worried about the outlook for the country's finances and institutions. Prime Minister Alexis Tsipras requested a meeting with the leaders of Germany, France and the main EU institutions on the sidelines of a European Union summit to press …

  • Can European Quantitative Easing Revive Consumption? Market Realist - Thu, Mar 19, 2015 11:06 AM EDT

    The ECB (European Central Bank) has been slashing its interest rate since the financial crisis in order to boost economic growth.

  • EU to tell Greece time, patience running out Reuters - Thu, Mar 19, 2015 11:05 AM EDT

    Greek banks reported the largest deposit withdrawals in a month, a sign savers are worried about the outlook for the country's finances and institutions. Prime Minister Alexis Tsipras has requested a meeting with the leaders of Germany, France and the main EU institutions on the sidelines of a European Union summit …

  • UK think tank sees 'remarkable' change of tack by Osborne Reuters - Thu, Mar 19, 2015 2:21 PM EDT
    Britain's Chancellor of the Exchequer George Osborne leads his Treasury team as they prepare to leave number 11 Downing Street to pose for photographers before going to the House of Commons to present the Budget, in central London

    Chancellor George Osborne has shown a "remarkable" change of approach on public finances, a leading think tank said on Thursday, a day after Osborne scaled back his austerity plans for the end of the decade. Paul Johnson, head of the Institute for Fiscal Studies, said the eye-catching fiscal number in a pre-election budget …

  • Russian economic slump gains pace in February Reuters - Thu, Mar 19, 2015 10:44 AM EDT

    Russia saw more steep declines in key economic indicators in February, with slumping retail sales and real wages and rising unemployment pointing to a rapid economic contraction, data showed on Thursday. Retail sales fell by 7.7 percent year-on-year in February, while real wages plunged by 9.9 percent, showing how high …

  • Russian economic slump gains pace in February Reuters - Thu, Mar 19, 2015 10:42 AM EDT

    Russia saw more steep declines in key economic indicators in February, with slumping retail sales and real wages and rising unemployment pointing to a rapid economic contraction, data showed on Thursday. Retail sales fell by 7.7 percent year-on-year in February, while real wages plunged by 9.9 percent, showing how …

  • First take: Don't bet on June rate hike @ USA TODAY - Thu, Mar 19, 2015 10:42 AM EDT

    The Fed is clearing the path for rate hikes this year.

  • Benelux states grumble at Greek-German-French talks at EU Reuters - Thu, Mar 19, 2015 3:49 PM EDT

    Leaders of the Benelux states criticized a plan to discuss Greece's debts to the euro zone with the leaders of France and Germany on the sidelines of an EU summit on Thursday, excluding smaller members of the currency bloc. Criticism by Belgian Prime Minister Charles Michel and his Dutch and Luxembourg colleagues prompted …

  • ALBERT EDWARDS: It is already too late to raise rates Business Insider - Thu, Mar 19, 2015 10:36 AM EDT

    It may already be too late, regardless of...

  • Benelux states grumble at Greek-German-French talks at EU Reuters - Thu, Mar 19, 2015 3:50 PM EDT

    Leaders of the Benelux states criticised a plan to discuss Greece's debts to the euro zone with the leaders of France and Germany on the sidelines of an EU summit on Thursday, excluding smaller members of the currency bloc. Criticism by Belgian Prime Minister Charles Michel and his Dutch and Luxembourg colleagues prompted …

  • Benelux states grumble at Greek-German-French talks at EU Reuters - Thu, Mar 19, 2015 1:44 PM EDT

    Leaders of the Benelux states criticised a plan to discuss Greece's debts to the euro zone with the leaders of France and Germany on the sidelines of an EU summit on Thursday, excluding smaller members of the currency bloc. Criticism by Belgian Prime Minister Charles Michel and his Dutch and Luxembourg colleagues …

  • The U.S. Defense Department's annual report on weapons programs projects a nearly two percent drop in the cost to buy 2,457 Lockheed Martin Corp F-35 fighter jets in coming decades, and a modest net decline ...

  • The Bonds That Can Cure America's Ills @ Bloomberg - Thu, Mar 19, 2015 10:28 AM EDT

    It is no surprise when we see how little the U.S. spends on infrastructure compared with other  industrialized nations . Speaking of indefensible: The federal debt now stands at more than $18 trillion dollars , and counting. Much of this debt is at interest rates that are higher than today's rates.

  • I was at the Fed meeting on Wednesday, and I think the market got it wrong Business Insider - Thu, Mar 19, 2015 10:13 AM EDT

    Markets went wild after the Federal Reserve's...

  • Jobless claims show small increase to 291,000 @ USA TODAY - Thu, Mar 19, 2015 10:08 AM EDT

    Jobless claims rose by 1,000 last week, but the total is close to the recent average.

  • Industrial Production Plummets, Adding to Russia’s Woes Market Realist - Thu, Mar 19, 2015 10:05 AM EDT

    Russia's industrial production figures for February came in way below the median estimate of a 0.6% drop. Russia's industrial production declined by 1.6%.

  • The Fed Drops ‘Patience’ – Is It Closer to Hiking Rates? Market Realist - Thu, Mar 19, 2015 9:55 AM EDT

    The Fed dropped "patience" from its statement. As a result, stocks surged while yields dipped in the US. The strengthening US dollar lost heat on March 18.

  • Consumers’ U.S. Economic Outlook Retreats From Four-Year High @ Bloomberg - Thu, Mar 19, 2015 9:45 AM EDT

    The Bloomberg Consumer Comfort Index’s monthly economic expectations gauge fell to a three-month low of 51.5 from a February reading of 54 that was the strongest since January 2011. “Despite solid employment numbers, wages are stagnant, and recent reports show retail sales, manufacturing and housing starts all struggled …

  • Russian Wages Plunge More Than Forecast as Consumer Demand Reels @ Bloomberg - Thu, Mar 19, 2015 9:36 AM EDT

    Wages adjusted for inflation plunged 9.9 percent in February after a revised 8.4 percent decrease a month earlier, the Federal Statistics Service in Moscow said Thursday in a statement. The median estimate of 18 economists surveyed by Bloomberg was for an 8.8 percent decline. Unemployment jumped to 5.8 percent from 5.5 …

  • EU to tell Greece time, patience running out Reuters - Thu, Mar 19, 2015 9:29 AM EDT

    Greek banks reported the largest deposit withdrawals in a month, a sign savers are worried about the outlook for the country's finances and institutions. Prime Minister Alexis Tsipras has requested a meeting with the leaders of Germany, France and the main EU institutions on the sidelines of a European Union summit …

  • Weekly jobless claims stay below 300,000, showing strong labor market @ Los Angeles Times - Thu, Mar 19, 2015 9:20 AM EDT

    Initial jobless claims remained steady last week at just under 300,000, indicating a strong labor market after a late February increase raised concerns that conditions were weakening.

  • Brawl over budget will frame 2016 presidential race CNBC - Thu, Mar 19, 2015 9:19 AM EDT
    Brawl over budget will frame 2016 presidential race

    The stark contrast between President Obama and GOP lawmakers on the budget will frame the debate in the evolving 2016 race to elect Obama's successor.

  • Matador Yellen Gores Dollar Bulls With Uncertainty @ Forbes - Thu, Mar 19, 2015 9:18 AM EDT

    The U.S. dollar is recovering from its biggest single-day fall in nearly two years against a basket of currencies on Thursday after a dovish Federal Reserve surprised the market with a cautious statement. Fed Chair Janet Yellen has been a dollar bull's friend for a very long time, but yesterday she took the first step to …

  • Asia also enjoyed its best day in 18 months, while bond markets saw government yields hit new all-time lows from Australia to Germany as investors piled back in, betting that the era of easy money is not about to end just yet. The shift in U.S. rate expectations hit the dollar hard at first, but a valiant fightback …

  • Georgia's c.bank says sold $40 million at currency auction Reuters - Thu, Mar 19, 2015 9:11 AM EDT

    Georgia's central bank sold $40 million at a foreign-currency auction on Thursday, the bank said, as part of efforts to support the country's weakening lari currency. It was the bank's fourth intervention on the currency market this year after it sold $40 million on Feb. 24, Feb. 19 and on Feb. 11, the same day it …

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