The U.K. government is to introduce a new levy on foreign homebuyers, raising concerns that this could put the brakes on London's property market.» Read More
Despite moves by the Chinese government to tame its property sector, prices have remained stubbornly resilient, with some economists saying the tightening measures are unsustainable.
House Republican leaders confronted pressure from conservatives on Thursday to take more aggressive steps to cut federal spending, with a large group of lawmakers calling for outlays to be slashed by $2.5 trillion over the next decade, far more than the party has sought so far. The New York Times reports.
Policy makers are working behind the scenes to come up with a way to let states declare bankruptcy and get out from under crushing debts, including the pensions they have promised to retired public workers, the New York Times reports.
The outlook for GDP growth is better, but hardly exceptional, through the first half of 2011—something in the range of 3.3 percent through mid-2011. Inflation will remain below 2.5 percent and unemployment will remain at or above 9 percent into 2012.
As state governments struggle with the fiscal damage caused by the recession, an income tax increase has become a rarely used remedy. The New York Times reports.
President Obama, strengthened by his adjustment to GOP gains and his response to the Tucson shootings, saw his approval rating rebound to 53% from 45%, according to a new NBC News/Wall Street Journal poll.
Today, the US House of Representatives is going to fulfill an election pledge by voting to repeal Obamacare. Voter anger over many issues helped return the opposition party to power in the lower chamber of Congress. This vote is one such manifestation and attempts to highlight the differences on this issue between the major parties.
The individuals and companies whose offshore account information may be detailed in Swiss banking documents disclosed to WikiLeaks could face American prosecutors — or go untouched, senior tax lawyers said on Tuesday. The New York Times reports.
Goldman Sachs executives have long been among the most richly paid on Wall Street in the best of times. They are now poised to reap a windfall that was sown in the dark days of the financial crisis in 2008, the New York Times reports.
President Hu Jintao visits the United States, leader of an industrial juggernaut and heir apparent to American global economic leadership.
US public pensions face a shortfall of $2,500 billion that will force state and local governments to sell assets and make deep cuts to services, according to the former chairman of New Jersey’s pension fund, reports the Financial Times.
Businesses will be able to depreciate 100 percent of the cost of capital goods on their 2011 taxes, for equipment bought and placed in service between September 8, 2010 and December 31, 2011. That's up from 50 percent accelerated depreciation in 2010, and applies to property that is depreciated over 20 years or less.
Jean-Claude Trichet’s hawkish comments on inflationary pressures and the resultant jump in the euro following Thursday’s European Central Bank's press conference talk has turned attention back to central bank exit strategies, an economist said Friday.
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Goldman Sachs has revealed details of about $5 billion in investment losses suffered during the crisis for the first time this week, in a move that will deepen the debate over companies’ financial disclosures, reports the Financial Times.
The debt ceiling does not seem to have many friends these days.
The $858 billion tax plan approved by Congress in December included a surprise two percent reduction in payroll taxes for 2011, in what amounts to a $120 billion bet that Americans will spend the money and help juice the economy.
Taking issue with FDIC Chairman Sheila Bair, the new Republican head of the House Financial Services Committee told CNBC Thursday that the Dodd-Frank financial overhaul law actually creates more uncertainty—not less.
The Illinois House of Representatives passed a bill that raises the state income tax from a maximum rate of 3% to 5%. They also raised the corporate income tax...As painful as they are, we are in the position of having no choice and yet, these tax increases will not raise the expected amounts.
Valerie Jarrett, a senior White House adviser, reportedly acknowledged that a push to overhaul the nation’s tax codes could take years...This could’ve been Obama’s “Reagan” moment as tax and social security reform were key successes for the Gipper