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US Economy

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  • Figures on government spending and debt Wednesday, 27 Aug 2014 | 4:03 PM ET

    WASHINGTON— Figures on government spending and debt.

  • Immigration could set stage for big U.S. budget showdown Wednesday, 27 Aug 2014 | 3:31 PM ET

    WASHINGTON, Aug 27- Conservatives in the U.S. Congress who object to President Barack Obama's immigration policies are threatening to tie a must-pass budget bill to the issue, making for a possible showdown in September and raising the specter of a government shutdown. One year ago, Congress faced a similar task.

  • Alaska voters reject repeal of 2013 petroleum tax Wednesday, 27 Aug 2014 | 1:40 PM ET

    ANCHORAGE, Alaska— Alaska voters have retained a new petroleum production tax system that offers hope of increased investment and jobs but drew criticism as a giveaway to already profitable oil companies. The state Division of Elections counted 17,721 absentee and early votes Tuesday, giving repeal opponents the victory.

  • Two big problems in the job market: Farr Wednesday, 27 Aug 2014 | 12:38 PM ET
    A sign  hangs in the window of a clothing store on June 6, 2014 in San Francisco, California.

    The economy's improving so what's not to like? In a nutshell, there are two big problems with the job market, says Michael Farr.

  • Divergent monetary policies ruffle flat calm in FX markets Wednesday, 27 Aug 2014 | 12:32 PM ET

    *Months of calm in markets may be about to end. LONDON, Aug 27- Months of dead calm in financial markets that have crushed trading volumes and hit bank profits may be drawing to a close as currency investors gear up for volatility triggered by monetary policy shifts in major economies.

  • SEC adopts rules on loan-backed securities Wednesday, 27 Aug 2014 | 12:17 PM ET

    WASHINGTON— Federal regulators on Wednesday voted to require financial firms that sell securities backed by loans, like the kind that fueled the 2008 financial crisis, to give investors details on borrowers' credit records and income. The Securities and Exchange Commission adopted the rules for securities linked to mortgages and auto loans on a 5-0 vote.

  • Intel to get local tax breaks worth about $2B Wednesday, 27 Aug 2014 | 12:11 PM ET

    HILLSBORO, Ore.— Local officials have approved a tax break for Intel Corp. that could be worth about $2 billion during its expansion in Washington County west of Portland.

  • FOREX-Dollar eases as euro falls on ECB speculation Wednesday, 27 Aug 2014 | 11:30 AM ET

    NEW YORK, Aug 27- The dollar softened on Wednesday as traders focused on riskier currencies, while the battered euro hit a 19- month low against the Swiss franc amid speculation the European Central Bank will resort to quantitative easing.

  • CBO: 2014 budget deficit projected $506B Wednesday, 27 Aug 2014 | 10:02 AM ET
    Copies of the Fiscal Year 2014 Budge of the Government of the United States.

    Citing lower-than-expected corporate taxes, the CBO projected a slight increase over previous budget deficit estimations.

  • WASHINGTON, Aug 27- The U.S. budget deficit for fiscal year 2014 will be an estimated $506 billion, a slight increase from the $492 billion projected in April, based on lower-than-expected corporate tax receipts, the Congressional Budget Office said on Wednesday.

  • US economy forecast to grow by 1.5 percent in 2014 Wednesday, 27 Aug 2014 | 10:01 AM ET

    WASHINGTON— The Congressional Budget Office on Wednesday forecast that the U.S. economy will grow by just 1.5 percent in 2014, undermined by a poor performance during the first three months of the year.

  • LOS ANGELES— USC: Cornerback Josh Shaw suspended after admitting story about rescuing nephew was a lie.

  • BUDGET DEFICIT AT $506 BLN VS PREVIOUS ESTIMATE OF $492 BLN DUE TO LOWER CORPORATE TAX RECEIPTS.

  • JERUSALEM, Aug 27- The Bank of Israel warned the government on Wednesday that the budget deficit would reach at least 3.5 percent of gross domestic product in 2015 if taxes aren't raised and state spending is not reduced.

  • LA mayor plans one of the highest minimum wage rates Wednesday, 27 Aug 2014 | 8:56 AM ET
    LA Mayor Eric Garcetti on election day, May 21, 2013.

    The plan has faced a "cool reception" from many major business groups worried about costs, according to the L.A. Times.

  • FOREX-Euro falls widely on ECB easing speculation Wednesday, 27 Aug 2014 | 8:45 AM ET

    *Euro hits lowest since January 2013 against Swiss franc. LONDON, Aug 27- The euro fell broadly on Wednesday, hitting a 19- month low against the Swiss franc, as speculation that the European Central Bank will resort to quantitative easing was fuelled by yet more bad news from the euro zone.

  • Medtronic spends $350M on another European deal Wednesday, 27 Aug 2014 | 8:38 AM ET

    U.S. medical device maker Medtronic is building stronger ties to Europe, a couple months after announcing a $42.9 billion acquisition that involves moving its main executive offices across the Atlantic, where it can get a better tax deal.

  • LONDON, Aug 27- The euro edged off its lowest point in almost a year on Wednesday as Germany's finance minister played down speculation over more European Central Bank monetary policy easing in the coming months.

  • SYDNEY/ SINGAPORE, Aug 27- The dollar hit a 13- month peak against a basket of major currencies on Wednesday, with the euro still struggling amid expectations of further policy easing from the European Central Bank.

  • Are more gains in sight for Wall Street?     Tuesday, 26 Aug 2014 | 10:17 PM ET

    Patrick Chovanec, Chief Strategist at Silvercrest Asset Management, says improvements in corporate earnings will lay the foundation for Wall Street to climb higher.

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