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US Economy

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  • 'Pruning portfolios' ahead of Alibaba IPO: Cashin Monday, 15 Sep 2014 | 2:39 PM ET
    Art Cashin

    Art Cashin of UBS says investors are repositioning themselves ahead of Alibaba's IPO Friday.

  • FCC to stop receiving comments for 'net neutrality' Monday, 15 Sep 2014 | 2:35 PM ET
    Demonstrators who favor “net neutrality” gather outside an FCC meeting on the issue in Washington.

    Comment period on 'net neutrality' will end Monday even as FCC continues its outreach to inform citizens on the regulations.

  • Why Thomas Lee is bullish on stocks Monday, 15 Sep 2014 | 11:04 AM ET
    Thomas Lee, JPMorgan's U.S. equity strategist

    Stock market strategist Thomas Lee says there's plenty of proof the bull market still has several years to go.

  • Getting a mortgage easier than you think: Survey Monday, 15 Sep 2014 | 9:54 AM ET

    Getting a mortgage in the U.S. may be easier than many borrowers think, according to a survey released Monday by Wells Fargo.

  • Detroit reaches settlement with creditor Syncora Monday, 15 Sep 2014 | 9:24 AM ET
    Kevyn Orr, Detroit’s state-appointed emergency manager, speaks as Michigan Gov. Rick Snyder looks on during a press conference in Detroit in July 2013.

    Syncora withdraws all objections to Detroit's plan to adjust $18 billion of debt in a settlement Monday

  • A minimum-wage hike finds hope in US heartland Monday, 15 Sep 2014 | 6:36 AM ET
    Fast food workers and activists demonstrate outside the McDonald's corporate campus on May 21, 2014 in Oak Brook, Illinois.

    President Obama's push to raise the minimum wage could make headway in the conservative heartland in the November elections.

  • OECD cuts US growth forecast, warns on risk assets Monday, 15 Sep 2014 | 6:18 AM ET
    A trader works on the floor of the New York Stock Exchange.

    A stuttering recovery in the U.S. and the continued fragility of the euro zone means that risk assets are "mispriced," the OECD has warned.

  • Wealth gap report paints grim picture for Oregon Monday, 15 Sep 2014 | 3:02 AM ET

    John Kitzhaber, legislative Democrats and others to overhaul Oregon's tax code. With no sales tax and property taxes constrained by 1990 s ballot measures, Oregon relies on the income tax for nearly $7 of every $10 it collects— more than any other state.

  • LAUNCESTON, Australia, Sept 15- The pressing problem for some resource-rich countries isn't that prices for commodities have dropped sharply, it's that their currencies haven't dropped in tandem.

  • BIS warns of 'damaging feedback loops’ Monday, 15 Sep 2014 | 1:11 AM ET

    Emerging markets are at risk of “damaging feedback loops” once central banks start sharply raising rates.

  • South Dakota bucks trend of dwindling sales tax Monday, 15 Sep 2014 | 1:01 AM ET

    SIOUX FALLS, S.D.— A rise in income inequality appears to be negatively affecting tax revenues in South Dakota and other states, according to a new report from the credit rating agency Standard& Poor's.

  • Report: Wealth gap stunts Nev. tax revenue growth Monday, 15 Sep 2014 | 12:02 AM ET

    LAS VEGAS— The amount of money Nevada gets from taxes is growing at a much slower pace than it did decades ago, a statistic that a new report attributes in part to the widening gap between the incomes of the top 1 percent of earners and everyone else.

  • Colorado among states most reliant on income tax Monday, 15 Sep 2014 | 12:01 AM ET

    DENVER— Colorado is among the top 10 states most reliant on income taxes for revenue, according to a new report concluding that income inequality is contributing to slower economic growth nationally. For states like Colorado, income inequality has meant revenue performance is closely tied to financial markets, according to the report.

  • US wealth gap putting the squeeze on state revenue Monday, 15 Sep 2014 | 12:01 AM ET

    WASHINGTON— Income inequality is taking a toll on state governments. "Rising income inequality is not just a social issue," said Gabriel Petek, the S&P credit analyst who wrote the report. Stagnant pay for most people has compounded the pressure on states to preserve funding for education, highways and social programs such as Medicaid.

  • Tennessee voters to decide ban on income tax Monday, 15 Sep 2014 | 12:01 AM ET

    Regardless of the outcome of constitutional amendment, it's unlikely that Tennessee lawmakers would seriously consider a state income tax— which has become a toxic political issue since the last serious attempt to impose one failed in 2002 amid raucous Capitol protests that included a brick being thrown through the window of the governor's office and demonstrators banging on the doors of the Senate chamber while lawmakers sought to conduct their business within.

  • Tourism, retirees may help Fla. with income gap Monday, 15 Sep 2014 | 12:01 AM ET

    TALLAHASSEE, Fla.— A new report says a rising concentration of income among the nation's richest households is a problem for Florida because it is one of 10 states most dependent on sales taxes. Florida has no state income tax and its major source of revenue is a 6 percent sales tax.

  • Report: Income inequality affects Missouri taxes Monday, 15 Sep 2014 | 12:01 AM ET

    JEFFERSON CITY, Mo.— A national increase in income inequality appears to be negatively affecting tax revenues in Missouri and other states, according to a new report from a credit rating agency. From the 1950 s through the 1970 s, Missouri averaged more than 9 percent annual growth.

  • Income tax collections driving Miss. revenue Monday, 15 Sep 2014 | 12:01 AM ET

    JACKSON, Miss.— Mississippi is one of 10 states most reliant on sales taxes as a share of revenue, according to a new Standard& Poor's report that says that such states may be particularly susceptible to an ever-widening income gap dragging down state tax revenues.

  • Report: Wealth gap could threaten Indiana revenues Monday, 15 Sep 2014 | 12:01 AM ET

    INDIANAPOLIS— Rising income inequality in the U.S. appears to be slowing tax revenue growth in Indiana and other states, according to a new report by the credit rating agency Standard& Poor's.

  • Income inequality complicates Ga. consumption tax Monday, 15 Sep 2014 | 12:01 AM ET

    ATLANTA— A new study suggests the growing share of income paid to the rich could raise the costs of a Republican proposal to replace Georgia's income tax with an expanded sales tax. As part of the study, researchers compared states more dependent on income tax collections, such as Georgia, against states more reliant on sales tax collections.

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