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New global AIDS focus: careful budgets? (Reuters) (Jul-13, 21:27 EDT )-- Reuters - New AIDS plans released by the United Nations and the U.S. government on Tuesday stress smarter, targeted spending as a way to keep up the fight against the pandemic during a global recession.
Singapore expects GDP to grow up to 15 pct in 2010 (AP) (Jul-13, 20:07 EDT )-- AP - Singapore expects its economy to soar 15 percent this year after surging manufacturing fueled a record expansion in the second quarter.
Ruling on Visteon retiree benefits overturned (AP) (Jul-13, 18:52 EDT )-- AP - Auto parts supplier Visteon Corp. cannot terminate its retirees' health and life insurance benefits without following certain procedures under bankruptcy law, a federal appeals court ruled Tuesday.
Obama, Dems tee up potentially tough votes for GOP (AP) (Jul-13, 17:13 EDT )-- AP - President Barack Obama and Senate Democrats have settled on an agenda for the final weeks before Congress' summer recess that could force Republicans to take tough votes on populist issues like unemployment insurance and a small business loan...
Fuel economy for midsize cars at a glance (AP) (Jul-13, 17:07 EDT )-- AP - Automakers are using technology to boost fuel economy between model years in the midsize car segment, even though vehicles aren't being redesigned.
Automakers tweak midsize cars to boost gas mileage (AP) (Jul-13, 16:56 EDT )-- AP - To improve gas mileage, automakers are tweaking cars and trucks between model years, especially in the cost-conscious and popular market for midsize sedans.
Taiwan promotes China trade deal (AP) (Jul-13, 16:51 EDT )-- AP - Taiwan's information minister says a trade agreement with China signed two weeks ago is a giant step forward in overcoming the country's economic isolation, building trade, and speeding the integration of Asia.
Congress to extend middle-class tax cuts: Dems (Reuters) (Jul-13, 16:04 EDT )-- Reuters - The Congress will likely act to extend tax cuts for the middle class to avoid choking off the fragile economic recovery, key congressional Democrats said on Tuesday.
Congress to extend middle-class tax cuts: Dems (Reuters) (Jul-13, 16:04 EDT )-- Reuters - The Congress will likely act to extend tax cuts for the middle class to avoid choking off the fragile economic recovery, key congressional Democrats said on Tuesday.
Federal budget gap tops $1 trillion through June (AP) (Jul-13, 15:52 EDT )-- AP - The federal deficit has topped $1 trillion with three months still to go in the budget year, showing the lasting impact of the recession on the government's finances.
Obama faces big political headwinds as polls weigh (Reuters) (Jul-13, 15:45 EDT )-- Reuters - President Barack Obama is facing the stiffest political headwinds he has experienced since taking office 18 months ago as Americans sour on his handling of the U.S. economy.
AIG shares jump on report of possible IPO (AP) (Jul-13, 15:23 EDT )-- AP - Shares of American International Group Inc. jumped Tuesday after a media report said the company is considering an initial public offering for its Asian life insurance unit, AIA.
Obama nominates Jacob Lew as budget director (AP) (Jul-13, 15:07 EDT )-- AP - President Barack Obama nominated Deputy Secretary of State Jacob Lew to serve as director of the Office of Management and Budget Tuesday, charging him with putting the nation on a fiscally responsible path.
Summary Box: Commodities rally on upbeat earnings (AP) (Jul-13, 14:46 EDT )-- AP - BROAD RALLY: Most commodity prices rose Tuesday after Alcoa and CSX reported upbeat earnings. The results provided positive signs about the economy, especially a forecast from Alcoa that global aluminum demand is expected to keep growing.
Senate to extend middle-class tax cuts-Baucus (Reuters) (Jul-13, 14:44 EDT )-- Reuters - Senate Finance Committee Chairman Max Baucus on Tuesday said he expects the Senate to extend middle-income tax cuts before they expire by the end of the year.
Commodities gain as risk appetite returns (AP) (Jul-13, 14:44 EDT )-- AP - Commodities prices rose Tuesday as investors bought riskier assets following reassuring signs of economic growth.
Summary Box: Fed survey points to credit thaw (AP) (Jul-13, 14:26 EDT )-- AP - CREDIT THAW: A Federal Reserve survey finds investors are showing a bigger appetite to fund a range of securities — including high-grade corporate bonds.
Fed survey: Investors have bigger debt appetite (AP) (Jul-13, 14:06 EDT )-- AP - Investors are showing a bigger appetite to fund a range of securities, an encouraging sign that credit conditions are improving.
A look at global economic developments (AP) (Jul-13, 13:28 EDT )-- AP - A look at economic developments and activity in major stock markets around the world Tuesday:
Fed says credit somewhat looser in last 3 months (Reuters) (Jul-13, 13:28 EDT )-- Reuters - Hedge funds and private equity firms had an easier time raising capital in the last three months, but the market for asset-backed securities remains crippled, according to a new Federal Reserve survey.
Obama taps Jacob Lew to replace Peter Orszag as OMB chief (Jul-13, 13:22 EDT )-- President Obama announced Jacob Lew as his budget director on Tuesday, praising Lew's success in that role during the Clinton administration -- and calling on him to help replace the current deficit with Clinton era budget surpluses. Jacob Lew -...
Head of the Bureau of Ocean Energy testifies before oil commission (Jul-13, 13:12 EDT )-- NEW ORLEANS -- Oil companies drilling in the deep-water coastal waters do not know how to contain a spill like the one that has spewed oil into the Gulf of Mexico for 85 days, said Michael Bromwich, director of the Bureau of Ocean Energy Management,...
(AP) (Jul-13, 13:00 EDT )-- AP - Federal deficit through June tops $1 trillion with three months left in budget year.
Trade gap widens as imports and exports both rise (AP) (Jul-13, 12:27 EDT )-- AP - The trade deficit rose in May to an 18-month peak as rising imports offset another solid gain in U.S. exports. The surge in imports was a hopeful sign for the economic recovery because it suggested businesses are optimistic that U.S. consumers...
Soda taxes fizzle in wake of industry lobbying (Jul-13, 12:24 EDT )-- WASHINGTON -- When Washington state passed a tax on soda and other sugary beverages in April, it seemed like momentum was building nationally for a new kind of tax. Washington's law, which imposes a tax of 2 cents for every 12 ounces of soda, came on...
EU ministers back closer budget surveillance (Reuters) (Jul-13, 12:15 EDT )-- Reuters - European Union finance ministers agreed on Tuesday to increase monitoring of member states' economies from January as part of efforts to tighten budget discipline and prevent new economic crises.
Industrial results could give Wall Street new worry (Reuters) (Jul-13, 11:56 EDT )-- Reuters - Investor worries that the year-old economic recovery is getting shaky have driven down U.S. manufacturer shares over the past two months.
Crist leads 3-way Senate race in Florida (Reuters) (Jul-13, 11:56 EDT )-- Reuters - Florida Governor Charlie Crist holds a narrow edge over Republican Marco Rubio in a three-way Senate race dominated by economic worries, according to a Reuters/Ipsos poll released on Tuesday.
US trade deficit widens to 18-month high (AFP) (Jul-13, 11:52 EDT )-- AFP - The US trade deficit unexpectedly widened in May to the highest level in 18 months, the government said Tuesday, sparking fears of slowing growth in the world's largest economy.
Rosengren says Fed could buy more assets: report (Reuters) (Jul-13, 11:37 EDT )-- Reuters - The Federal Reserve would be able to lower borrowing costs further if the economy weakens considerably by reinvesting maturing mortgage debt it owns or boosting asset purchases, Boston Fed President Eric Rosengren said.
PhRMA taps business lobbyist John J. Castellani as president (Jul-13, 11:24 EDT )-- The Pharmaceutical Research and Manufacturers of America announced longtime business lobbyist John J. Castellani as its new president Tuesday, marking a change in direction for one of Washington's most powerful trade groups. United States -...
CSX sees economy's positive momentum continuing (AP) (Jul-13, 10:01 EDT )-- AP - CSX Corp., the nation's third largest railroad, said Tuesday it's trying to keep a lid on hiring to keep costs low despite the economy's positive momentum.
Is This Junk Worth the Risk? (The Motley Fool) (Jul-13, 09:29 EDT )-- The Motley Fool - In the financial markets, investors who take risks often reap the biggest rewards. Although most of the bond market has been among investors' favorite places for new money in recent months, junk bonds just might be giving you enough...
May job openings dip but hiring near 2-year high (Reuters) (Jul-13, 09:28 EDT )-- Reuters - Job openings slipped in May, but the hiring rate climbed to its highest level in nearly two years, government data showed on Tuesday.
UK inflation rate dips to 3.2 pct (AP) (Jul-13, 08:00 EDT )-- AP - Consumer price inflation in Britain slowed to 3.2 percent in June from 3.4 percent in May due to lower prices for car fuel, clothing and shoes, official statisticians said Tuesday.
Trade gap widens unexpectedly in May (Reuters) (Jul-13, 07:53 EDT )-- Reuters - The trade deficit widened unexpectedly in May, led by a big jump in imports from China that helped overpower the best month for U.S. exports since September 2008, a government report showed on Tuesday.
US trade deficit widens to $42.3 billion in May (AP) (Jul-13, 07:46 EDT )-- AP - The U.S. trade deficit widened in May to the highest level in 18 months as a rebounding economy pushed up demand for imports of foreign-made cars, computers and clothing.
Oil climbs back above $75 (AP) (Jul-13, 06:44 EDT )-- AP - Oil prices climbed back above $75 a barrel Tuesday, tracking rising stock markets as strong corporate earnings reports boosted confidence in the U.S. economy.
Small businesses grow more pessimistic: survey (Reuters) (Jul-13, 06:34 EDT )-- Reuters - Small businesses grew more pessimistic about their economic outlook in June in the face of weak sales and political uncertainty, the National Federal of Independent Businesses said on Tuesday.
German investor confidence falls again (AP) (Jul-13, 05:33 EDT )-- AP - German investor confidence dropped for the third consecutive month on fears about the implications for the economy of Europe's debt crisis and budget-tightening drives, a survey showed Tuesday.
IMF chief sees little risk of double-dip recession (Reuters) (Jul-13, 03:56 EDT )-- Reuters - The International Monetary Fund's chief reiterated on Tuesday that strong growth in Asia and Latin America made it unlikely that the global economy would suffer a double-dip recession.
China to fight price manipulation with heavy fines (Reuters) (Jul-13, 02:52 EDT )-- Reuters - China will fine companies up to 2 million yuan ($295,400) for sending misleading or fake information about price increases, according to a new draft regulation by China's economic planning agency.
Infosys Q1 disappoints and Europe woes dampen outlook (Reuters) (Jul-12, 23:46 EDT )-- Reuters - Infosys Technologies edged up its forecast on a revival in outsourcing demand from its mainstay financial clients, but its shares fell as markets worried a weak European economy could curb orders.
In Alabama, Rep. Bobby Bright avoids perils of anti-government mood (Jul-12, 23:00 EDT )-- MONTGOMERY, ALA. -- For a first-term Democrat in a solidly Republican district, Rep. Bobby N. Bright did something curious on a recent weekday morning while speaking at a Kiwanis Club breakfast: He talked about the goodness of federal spending. ...
Education grants aim to bolster health-care ranks (Jul-12, 23:00 EDT )-- It is a sign of the economic times: Nursing students at Howard University work part-time jobs and still cannot keep up with tuition. "We have experienced good students having to withdraw from the program because of lack of resources. When parents lose...
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Financial regulation bill nears finish line with support from Snowe, Brown (Jul-12, 23:00 EDT )-- Two key Republicans said Monday that they plan to support a far-reaching bill to overhaul financial regulations, all but ensuring that the landmark legislation will sail through the Senate in coming days. Scott Brown - United States - Rhode...
Dollar Falls as Corporate Earnings View Spurs Demand for Risk (Jul-12, 23:00 EDT )-- The euro rose versus the greenback as Greece sold Treasury bills at a rate below the 5 percent charged by the European Union when it rescued the nation from default, indicating some international demand where Europe's sovereign-debt crisis originated....
A good energy strategy doesn't fit in a slogan (Jul-12, 23:00 EDT )-- It's much easier to look for a magic solution than it is to adapt to reality. Take energy, for instance. These days "clean energy," also known as "green energy," is being presented as the magic solution for global warming, our dependence on foreign oil...
Confidence in Obama reaches new low, Washington Post-ABC News poll finds (Jul-12, 23:00 EDT )-- Public confidence in President Obama has hit a new low, according to the latest Washington Post-ABC News poll. Four months before midterm elections that will define the second half of his term, nearly six in 10 voters say they lack faith in the...
North Korean, U.N. officials to hold talks on sinking of South Korean warship (Jul-12, 23:00 EDT )-- NORTH KOREA North Korea's military abruptly canceled a rare meeting Tuesday with the U.S.-led United Nations Command that had been arranged to discuss the deadly sinking of a South Korean warship. South Korea - Asia - Panmunjom - Korean War -...
The green scene (Jul-12, 23:00 EDT )-- Administration officials are visiting firms that have received Recovery Act money and other funds for green energy projects. Green - United States - Politics - Parties - Green Hornet
FDIC wins broad authority to probe banks (Jul-12, 23:00 EDT )-- Federal bank regulators have agreed to give the Federal Deposit Insurance Corp. unlimited authority to investigate banks, clarifying the agency's power after questions about it during the financial crisis. Bank - Federal Deposit Insurance...
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Sealing cap placed on oil well as Interior Dept. issues ban on offshore drilling (Jul-12, 23:00 EDT )-- The fate of the gushing Gulf of Mexico oil well, and of deep-water oil drilling in general, remained very much unresolved Monday, even as BP engineers finally installed a massive new sealing cap that could potentially enable them to shut down the well...
Northrop picks headquarters building in Fairfax County (Jul-12, 23:00 EDT )-- Northrop Grumman announced Monday that it has selected a 333,000-square-foot building near Falls Church for its new headquarters and will move there from Los Angeles by next summer. Virginia - United States - Counties - Fairfax - Fairfax County
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