More than a dozen categories of jobs are exempt from the minimum, currently $7.25 an hour. Tom Harkin, D- Iowa, would gradually raise the minimum to $10.10 by 2016. The Congressional Budget Office estimates it would mean higher earnings for 16.5 million workers— but also would cost 500,000 others their jobs.» Read More
The financial regulation reform bill Obama signed into law Wednesday will have very little impact on Wells Fargo’s earnings and operations compared to peer banking institutions, according to Howard Atkins, CFO at Wells Fargo.
The White House’s decision not to invite the chief executives of JP Morgan Chase and Goldman Sachs to today’s ceremonial signing of the financial overhaul legislation has many on Wall Street fuming.
Lawmakers in Maine have found an unusual tool for tackling their state’s pension woes: Social Security. The NYT reports.
Now is not the time to cut off unemployment benefits in this country. Admittedly, extending the benefits will add to the Federal budget deficit, but not doing so will add to mortgage delinquencies and homelessness and will only serve to impede the still fragile recovery currently under way.
Expectant parents shopping for a home are not the only ones concerned about the date of the baby’s arrival. Mortgage lenders are taking a harder look at prospective borrowers whose income has temporarily fallen while they are on leave, including new parents at home taking care of a baby.
How black voters in California decide on Proposition 19, which would allow anyone 21 and over to possess up to an ounce of marijuana, could be critical to its success or failure.
$550 million looked like pocket change until Goldman Sachs earnings were announced today. Today's numbers, which missed analyst expectations, actually makes one think that Goldman is paying the price for last week's SEC action. Of course, their win was avoiding criminal action and other SEC regulatory activities as a result of the disastrous subprime mortgage placements.
Unemployment benefits should be extended for humanitarian reasons, billionaire businessman Mort Zuckerman told CNBC Monday.
Now that the Senate has passed President Obama’s Wall Street reform legislation, the financial industry’s representatives are combing through the legislation and trying to figure out exactly who their new regulators in Washington will be.
With a bad-blood, confidence-destroying battle royale going on between Team Obama and business, you would think a highly publicized White House jobs summit would have produced some kind of positive announcement that gives a nod to the business point of view.
From now until Nov. 2, everything coming from Washington will be aimed at the crucial House and Senate elections, which have the potential to be a tsunami, like the one in 1994 that swept Newt Gingrich to power in the House.
With the final financial regulation vote just hours away, Sen. Bob Corker, (R-Tennessee), told CNBC Thursday that President Obama lacked the leadership skills needed to create jobs and to drive the country out of the recession.
That heady buzz from the home buyer tax credit is now turning into a grinding headache, as home sellers realize their very temporary, government-induced catbird seat has now fallen back to earth.
The trend of counterfeiting goes far beyond fake purses and watches and includes consumer products like baby formula and prescription medicine and industrial products like military components.
If the Dodd-Frank Wall Street Reform and Consumer Protection Act had been in place during his tenure, would the financial crisis — and the ensuing recession — have happened? The NYT asks former Treasury Secretary Henry Paulson.
There are risks associated with imposing regulation on London banks without the rest of the world following suit, the head of the British Bankers Association Angela Knight told CNBC Tuesday.
With the economy weakening and fears growing of a double-dip recession, the Federal Reserve is under pressure from some quarters to do more to help the economy. But even Fed officials seem to be split over how the central bank could or should respond.
The stock market rally over the past few days has been encouraging and represent real profits, former Federal Reserve chairman Alan Greenspan told CNBC Thursday.
Taxes on US businesses are about average compared to those in the rest of the world, Treasury Secretary Tim Geithner told CNBC Wednesday.
The US government has inhibited economic growth by creating uncertainty about business costs, Dallas Fed President Richard Fisher told CNBC. Questions about healthcare expenses, for instance, have kept businesses from hiring new workers, he said.