Experts believe a wider spat with Europe would be much more damaging than the current tit-for-tat with China.Traderead more
After the Fed released minutes of its last meeting, the bond market signaled it fears the Fed will not be aggressive enough with its rate cutting.Market Insiderread more
The Fed minutes also note that "a couple" members wanted a 50 basis point cut, based primarily on the weak inflation readings.The Fedread more
Markets pay particular attention to Italy's spending, given its public debt pile. This stands at above 130% of its growth rate, one of the highest in the world.Politicsread more
Office phones, printers, building control systems and more — these may not sound like computers but they can all be hacked according to cybersecurity pros.Technologyread more
Software stocks are the place to be in tech as the sector mounts a recovery from its recent pullback, some analysts say.Trading Nationread more
Flight bookings to Hong Kong have fallen 10%, hit by the unrest in the city, said Alan Joyce, the chief executive of Australian carrier Qantas Airways.Airlinesread more
South Korea will scrap an intelligence-sharing pact with Japan amid an intensifying dispute over history and trade, South Korea's presidential office said on Thursday.Asia Politicsread more
Analysts generally doubt how effective the People Bank of China's latest interest rate announcement will be in significantly helping businesses grow.China Economyread more
Toyota's revolutionary approach to manufacturing turned it from a tiny Japanese automotive latecomer into one of the biggest car companies in the world. But its designs have...Autosread more
These in-demand skills can command top pay packets, says Feon Ang of professional networking site LinkedIn.Get Aheadread more
Donald Trump and Hillary Clinton were asked about the future of Social Security and Medicare in the penultimate question of the final presidential debate.
It represents a win for retirement advocates, especially AARP, the Washington, D.C.-based advocacy group for older Americans, which lobbied debate moderators to address the fiscal outlook of Americans' largest entitlement programs.
"We're glad to see that in the third and final debate the candidates discussed Social Security, " said Roberta Eckert, vice president at the Nationwide Retirement Institute. "Every day 10,000 people turn 65. This alone represents a large demographic of voters, but Social Security is an issue that affects every American worker."
Even on bread-and-butter fiscal issues like Social Security and Medicare, the candidates managed to trade insults.
Clinton suggested that Trump would avoid paying taxes if she was able to raise the maximum taxable cap on annual earnings, which is $118,500 this year and $127,200 next year, for Social Security payroll taxes. In response, Trump called her "such a nasty woman."
She also proposed enhancing Social Security benefits for low-income workers and for women, but did not spell out how she would pay for those increases.
Trump pledged to cut taxes as well as repeal and replace the Affordable Care Act when asked by the debate moderator Chris Wallace if the candidate would "make a deal to save Medicare and Social Security that included both tax increases and benefit cuts. "
Trump campaign officials said that his policies would encourage economic growth that would "secure Social Security for the future, " but gives few details for how such policies would work.
Clinton's campaign said she would oppose reducing cost-of-living adjustments for Social Security beneficiaries and fight any efforts to raise the retirement age to qualify for benefits.
In the past, Clinton was supportive of the Simpson-Bowles deficit reduction plan, which would have reduced Social Security benefits, according to allegedly hacked private emails posted by WikiLeaks. The Clinton campaign has not confirmed the authenticity of these documents.
The candidates' vague proposals to preserve, and in Clinton's case expand, Social Security and Medicare would be difficult to pull off, according to an analysis by the nonpartisan Committee for a Responsible Budget.
Both candidates would have to reduce government spending elsewhere to pay for their proposals and implement massive cuts to stabilize the national debt. (See table below.)
Of course, Clinton and Trump could raise taxes to slow the growth of the national debt. Clinton's tax plan has already proposed an additional $1.5 trillion of revenue increases over a decade, while Trump's tax plan could lose $5.8 trillion in revenue, according to the committee's estimates.