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The US municipal bond market is unlikely to cause the next leg of the financial crisis according to John Higgins, a senior market economist at Capital Economics.
Jamie Dimon, chief executive of JPMorgan Chase, launched a broadside against financial regulation on Wednesday, warning that new capital rules could be “the nail in our coffin for big American banks,” the Financial Times reports.
Around the world, people’s relationship with alcohol varies greatly. In some places it is a point of national identity, in others it has become detrimental to a country's overall health.
China's inflexibility on exchange rates makes it hard to fix trade imbalances, says a senior Treasury official. Even worse, China's tempting neighboring countries to follow suit.
More Americans are seeing public servants as public enemies in some ways. It's a case of pension envy.
The White House is struggling to fill key financial posts in the administration as a combination of Senate opposition and candidates’ reluctance to join up leaves critical positions empty. The FT reports.
Sakae Sushi has been synonymous with Kaiten, or the conveyor belt sushi concept. In an arena that is commonly associated with up-market pricing, Sakae Sushi has managed to dish out food at competitive prices. Anchor Christine Tan spoke with the founder and CEO of the company, Douglas Foo, about surviving the financial crisis and dealing with the current bout of food inflation.
With data from the Energy Information Administration (EIA), a division of the Department of Energy, CNBC.com took a look at the countries that produce the most crude oil on a daily basis.
A growing number of municipal bond experts believe state and local government revenues will return to pre-crisis levels within two years, reflecting their optimism that the worst fears about rising defaults may not be realized. The FT reports.
The collective bargaining process with public sector unions needs to be restructured to keep labor unions from “bankrupting states,” Sen. Ron Johnson, (R-Wisc.), told CNBC Wednesday.
One thing is clear from the debate over whether a bankruptcy law should be enacted for states—bankruptcy as a concept and a process is misunderstood.
Union leaders urged Wisconsin teachers to return to work at schools that are open on Monday, but large protests were expected to continue at the Capitol against a plan to cut collective bargaining rights and benefits to state workers. The New York Times reports.
Click to see international political scandals that raised eyebrows and kept the tabloids in wide circulation.
Republicans who swept into power in state capitols this year with promises to cut spending and bolster the business climate now are beginning to usher in a new era of labor relations.
State pension funds, facing a potential multitrillion-dollar shortfall, find themselves in the center of a four-way battle: Employees and retirees expect to be paid their promised benefits; the pension systems have clear obligations but may not have the resources to pay them; politicians are looking for ways to resolve the underfunding and balance the burden among retirees and workers; and state taxpayers, challenged to provide for their own retirements, resent the additional tax load.
Wisconsin is poised to strip collective bargaining rights from most of the state's 175,000 public employees in the boldest step by a new Republican governor and Legislature to solve budget problems by confronting organized labor.
World power is at a point where neither a single nation nor a block of countries will be able to drive their own agenda, Ian Bremmer, president of Eurasia Group, told CNBC on Tuesday.
While some experts see this as an opportunity, skeptics says it's a new financial crisis in the making and that muni bonds should be avoided. Tell us what you think.
States are caught in an extended fiscal squeeze caused by rising costs and lower tax receipts. In addition, the aid distributed by the American Recovery and Reinvestment Act of 2009, is pretty much used up.
The Group of 20 industrialized nations is on its way to obsolescence and the world is at a point where neither a single country nor a bloc of countries will be able to drive an international agenda, according to Ian Bremmer, president of Eurasia Group, and Nouriel Roubini, chairman of Roubini Global Economics.