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.
The Securities and Exchange Commission has introduced new rules to help investors figure out how target-date funds in their 401(k) and other retirement accounts are supposed to hit their target.
At issue isn’t whether publishers can make violent games, but whether states can impose sales restrictions on those titles—effectively declaring them to be on the same level as pornography and legally limit their sale.
The removal of the barrier on paying interest on commercial demand deposits is going to be a big bottom-line negative for a wide number of institutions, according to H. Rodgin Cohen of Sullivan and Cromwell.
As the cash-poor states across the US struggle to pay their bills, two cities within especially distressed states—California and Pennsylvania—are emblematic of just how tough closing budget gaps can be. Vallejo, Calif. is in bankruptcy and, across the country, Harrisburg, Pa., the state capital, is insolvent.
Even as most Americans got ready to face the July 4th holiday weekend traffic, members of the United States Congress had already left town.
Don’t you just love political cross dressing? Last night on CNBC my old boss David Stockman was totally root-canalled as he called for higher taxes and lower spending. Right on spending, but wrong on taxes.
You need look no further than this morning's news. Congress, at the eleventh hour, passes an extension of the closing date on the home buyer tax credit. It was supposed to expire at midnight last night.
A housing sector without Fannie Mae spacer and Freddie Mac is a possibility, Edward J. DeMarco, director of Federal Housing Finance Agency (FHFA), told CNBC Thursday.
With the Supreme Court scheduled to hear arguments later this year about whether states should be allowed to regulate the sale of violent video games, you might think game makers would consider dialing down the number of shooter titles.
California has about 225,000 organized state employees—still—and many have been forced to take three-day-a-month furloughs without pay. A few thousand of them converged on the Capitol Wednesday to protest threats by the Governor to impose the $7.25 minimum wage on them starting Thursday. There's no budget, and no solution to the $19.1 billion deficit.
Anna Chapman has been called the femme fatale of a spy case with Cold War-style intrigue — a striking redhead and self-styled entrepreneur who dabbled in real estate and mused on her Facebook page, "if you can dream, you can become it." Chapman's American dream, U.S. authorities say, was a ruse.
Seizing on a political opportunity, President Barack Obama on Wednesday lashed out at Republicans as out of touch with the daily problems of Americans, hoping to sharpen the contrast with the opposition party as midterm elections loom and economic anxiety still runs high.
After analyzing Washington for 35 years, it’s excusable to be a cynic. Actually, it’s mandatory. So let’s try out this extremely cynical premise: the Republicans are deliberately refusing to help unemployed workers or aid the states because they undoubtedly know this will hurt the economy further – and an ailing economy will help their prospects in November.
Despite all the skimmers and sweepers, most of the oil leaking into the Gulf of Mexico sinks to the bottom or washes up on the shore and then sinks down in shallow layers below the sand, profoundly restructuring the ecosystem. The change cannot be undone in a lifetime.
Two years ago, the Bay Area city of 120,000 went into a special kind of bankruptcy reserved for local governments called Chapter 9. It allowed the city of break contracts and suspend debt payments.
Lawmakers are now considering ending the $700 billion TARP program early and using some of that money to help fund the new financial overhaul bill, CNBC has learned. The proposal is being weighed as Democrats scramble to save the legislation.
Taxation on a US corporation’s foreign profits, now on the financial reform table in Congress, is a major concern, incoming CEO of Caterpillar, Doug Oberhelman, told CNBC Tuesday.
Sen. Robert Byrd's death Monday morning could affect the passage of the financial reform bill, said Sheila Bair, the chairman of the Federal Deposit Insurance Corporation.