Action moves to the Senate after the perennially divided House approved a $16 billion bill for veterans health care.» Read More
Though manufacturing has long been in decline, the loss of factory jobs has been especially brutal of late, with nearly two million disappearing since the recession began in December 2007. Even a few chief executives, heading companies that have shifted plenty of production abroad, are beginning to express alarm.
Soon the IRS tax form will be two lines and two lines only. First will be how much did you make, second will simply be the instructions to send it all in. The tax plans coming out of Congress to pay for the health proposals are punitive and confiscatory (but are likely to kill any chances that the bill would be enacted into law).
The White House is being forced to acknowledge the wide gap between its once-upbeat predictions about the economy and today's bleak landscape.
The Obama administration’s public healthcare plan would undermine competition among insurers, said Rep. Ryan, R-Wis.
The S&P is sitting right at its highest levels since November. The central thesis is earnings: P/E multiples will expand in the next several quarters due to the combination of cost cutting and gradually rising revenues.
This is nothing but a relief rally in a secular bear market and we’ll be in a secular bear market for another 10 to 15 years, said David Hefty, principal of Cornerstone Wealth Management.
Both government and industry have experienced a steep learning curve in battling foreclosures, but two years into the crisis, greater flexibility and more effective measures are combining to produce early signs of improved results.
While the focus for the Democrats' bill is on healthcare, some analysts say the real goal could be to raise revenues for an ailing economy and redistribute income.
Just two days ago, the New York Times heralded on its front page “Health Care Bill Passes First Test on Capital Hill”, a title that belied the fact that the health care bill as currently structured has almost no likelihood of becoming law. Moderate Democrat Senators have no stomach for it, because their constituencies have no stomach for it.
A second House committee has approved health care legislation that President Barack Obama is seeking.
Yesterday's testimony by Hank Paulson before the House Committee on Government Oversight was ostensibly billed to review the facts of last year's merger of Bank of America and Merrill Lynch. What it turned out to be - as anyone who follows the ebb and flow big crises in this town could have predicted - was the Washington equivalent of an Auto de fé.
Credit issues weigh on JP Morgan. The bank is trading down a bit this morning despite beating on the top and bottom line: $0.28 vs. $0.04 expected, which includes a TARP payment of $0.27 and an FDIC special assessment fee of $0.10; and revenues of $27 billion in revenues topped estimates of $26 billion).
Stocks are roaring ahead again today — up over 150 points — after holding the high ground yesterday and following Monday’s huge rally. Even a sub-par retail sales report didn’t stop retail stocks from posting a 1.6 percent gain.
Yesterday there were some analyst report circulating that Intel spacer was unlikely to be overly optimistic because the PC food chain was weakening, that recent orders out of Taiwan were weak.
We can all rest easy: the SEC has reached a final settlement with Dennis Kozlowski and Mark Swartz, the former CEO and CFO of Tyco who have both spent the last four plus years in jail after being convicted of stealing from that company.
The back-end loaded stimulus plan passed earlier this year is causing many companies to re-evaluate the impact on their earnings.
Outgoing Alaska Gov. Sarah Palin called President Obama's approval of cap-and-trade legislation to counter global warming "an enormous threat to our economy" in a Washington Post op-ed piece Tuesday morning.
Stocks limped out of the gate on Tuesday as the first real test of the new earnings season brought mixed results and invetors fretted over inflation concerns. Larger-than-expected gains in producer prices and retail sales for June presented conflicting signals on the economic front. Producer prices rose 1.8 percent on the strength of autos and energy sales, while retail sales were up 0.6 percent primarily, also on the energy-auto movement. Read and listen to what the experts had to say...
You can bet on everything these days. As evidence, consider this bet that was called to our attention for tonight’s All-Star Game in St. Louis.
Looking for a job? The Obama administration says it can help. In a report called “Preparing the Workers of Today for the Jobs of Tomorrow,’ the administration highlighted the ‘green’ and healthcare sectors as the fastest growing sectors in terms of employment.