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How social security, natural gas saved our economy
Economist James Galbraith agrees that the years since the financial crisis have seen slower growth, low employment and a struggling housing market. However, he believes easy growth actually ended in the 1970s, and the U.S. economy has seen uneven growth and rising inequality since.
Watch out below: This is signaling trouble for the market
Monday was a miserable day for the small cap Russell 2000 and it may get worse.
Lew inversions crackdown faces immediate test with eight...
Treasury Secretary Jacob J. Lew's crackdown on inversions will get an immediate test as eight U.S. "For some companies considering deals, today's action will mean that inversions no longer make economic sense." The Treasury announcement heightened the tension between the government and companies considering obtaining a foreign address to lower their tax bills. Lew and President Barack Obama made clear that they were prepared to use rule-making authority to try stop some deals, even at the risk of a backlash from the companies and from Republicans, who already complained that Lew's moves went too far.
Albright: US needs to explain stakes better
Former Secretary of State Madeleine Albright, shares her thoughts on whether the U.S. was late to the game in fighting against the ISIS threat.
Would have done 'things differently': El-Erian
Mohamed El-Erian expected to go quietly. The one-time heir apparent to Pimco investment chief Bill Gross had no idea leaving the firm would create a fire storm, and he gave no real consideration to staying on and working less.
Don't chase the 'story' stocks
Alibaba's IPO is over, the iPhone is out and the Fed isn't moving. What will the market do now?
Fed rate hikes could swell national debt by $700B over...
A year ago, it was all about Obamacare, the national debt, the never-ending deficit and the 16-day government shutdown. As things stand now, the national debt totals $17.8 trillion.
Starbucks testing stout beer-flavored 'dark barrel latte'
Starbucks Corp (SBUX.O) is testing a "dark barrel latte" in a handful of its cafes in Ohio and Florida. The non-alcoholic drink includes a chocolaty stout flavored sauce, whipped cream and dark caramel drizzle, a spokeswoman said on Monday. Among other things, Starbucks is known for flavored lattes such as the "pumpkin spice" latte. The company, which regularly tests food and drinks in its stores, has no information to share on the future availability of the dark barrel latte, the spokeswoman said.
SEC finds deficiencies at hedge funds
PHILADELPHIA—Recent examinations of hedge funds have uncovered a range of problems, a top Securities and Exchange Commission official said, including firms boosting their performance, and the fees they collect, by changing the way they value investments. Andrew Bowden, the director of the SEC's Office of Compliance Inspections and Examinations, said the agency has found a series of deficiencies at the roughly 185 hedge-fund firms in which it completed exams. The findings come as the SEC begins more closely scrutinizing hedge funds, which have historically operated with less oversight than other investment managers. The agency, in the wake of the 2010 Dodd-Frank financial-overhaul law, has begun requiring a wider swath of hedge funds and private-equity funds to register with the agency and provide detailed data on trading.
Next up after Alibaba: Biggest bank IPO ever
Investors will get a little time to catch their breath after Friday's record-breaking Alibaba trading debut, but not too long.
Treasury’s 'inversion’ crackdown left this tax dodge...
On Monday, the Obama administration took steps to make those so-called corporate inversion deals less attractive, but the Treasury Department’s move addressed only one of the two biggest drivers of such deals.
Euro zone business growth slows in September as prices...
The data will dishearten the European Central Bank, which is struggling to spur growth and revive inflation rooted way below its target. Markit's Composite Flash Purchasing Managers' Index, based on surveys of thousands of companies across the region and seen as a good indicator of growth, dipped to a nine-month low of 52.3, shy of expectations in a Reuters poll for no change from August's 52.5. The index has been above the 50 mark that separates growth from contraction since July 2013 although Markit said the latest survey pointed to third-quarter economic growth of just 0.3 percent. "The ECB will be disappointed.
Cramer's favorite IPO of 2014: Not Alibaba
In fact, Alibaba came in at #3. Find out which companies beat it.
Euro-Area Surveys Show Slowdown Putting Pressure on ECB
Euro-area manufacturing and services growth unexpectedly slowed to the weakest pace this year, increasing pressure on the European Central Bank to add stimulus to the economy. Purchasing Managers Indexes for both industries fell and a composite gauge dropped to 52.3 in September from 52.5 in August, London-based Markit Economics said today. Economists in a Bloomberg survey predicted an unchanged reading. A manufacturing gauge for China published today rose.
Soft data, Syria strikes hit US, European markets
NEW YORK (AP) — U.S. and European stocks mostly fell Tuesday following some disappointing economic reports and news that U.S.-led forces have started airstrikes against Islamic State militants in Syria.
Wall St. opens lower after strikes in Syria
U.S. stocks opened lower on Tuesday, putting the S&P on pace for a third straight fall, as conflict in the Middle East intensified and after the U.S. Treasury moved to curb "tax inversion" deals. ...
U.S. manufacturing growth continues apace in September:...
Financial data firm Markit said its preliminary or "flash" U.S. Manufacturing Purchasing Managers Index was unchanged from August's reading of 57.9, the highest since April 2010. It was the strongest reading of labor conditions in the manufacturing sector since March 2012. The third quarter as a whole has seen the strongest expansion since the sector began to recover from the financial crisis," said Chris Williamson, chief economist at Markit, adding that he expects manufacturing to add to third-quarter U.S.
Euro zone growth slows as Chinese factories trundle on
LONDON/BEIJING (Reuters) - Euro zone business growth dipped to a 2014 low in September as firms again cut prices, while factory activity in China picked up only slightly, surveys showed, keeping the spotlight on policymakers' plans for economic stimulus. The data seems sure to dishearten the European Central Bank, struggling to spur growth and revive disconcertingly low inflation and whose head Mario Draghi again raised prospects on Monday of using extra unconventional measures if needed. In China, signs of a weakening labor market reinforced expectations that authorities in Beijing would further relax financing conditions in coming weeks. Markit's Eurozone Composite Flash Purchasing Managers' Index, based on surveys of thousands of companies across the region and seen as a good indicator of growth, dipped to a nine-month low of 52.3, shy of expectations in a Reuters poll for no change from August's 52.5.
Are corrections still a thing?
It's been almost three years since the last correction. However, some analysts and policymakers, including the powerful G-20, are starting to get concerned a bubble is brewing.
Pizza Hut may be the next Chipotle
When you think of the craft food genre, Pizza Hut probably doesn't come to mind. But that might change.
Five myths about retirement planning
These are five myths that still exist in retirement planning: Essentially, that means building an investment portfolio that leaves roughly 5 to 8% of your investable assets in cash. Once a month, you have a check for a predetermined amount electronically withdrawn from the cash account and deposited into your checking account. As the cash portion of your portfolio depletes to 3 to 5% of the value, you rebalance the portfolio and replenish the cash account.
China's manufacturing sector picks up steam in September
A key gauge of Chinese manufacturing activity ticked slightly higher in September, easing concerns factory growth in the world's No. 2 economy stalled.
This is a key risk for Hong Kong's property stocks
The timing of a Federal Reserve interest rate hike is one of the key risks for Hong Kong property stocks, according to Barclays.
Asia stocks swing higher on China data
Asian stocks ended mixed on Tuesday following Chinese factory data but trade was quiet with Japan shut for the Autumnal Equinox holiday.
Alibaba climbed to the top of IPO record books in ......
An obscure-sounding tool Alibaba's underwriters used to sell extra shares -- and make the e-commerce giant's IPO the biggest ever -- actually dates back to the 1960s.
Fossil fuels may never go extinct
As long as clean energy is more expensive than higher-emission sources, much of the world won't be able to afford it.
Gen X finds itself behind the financial eight ball
A new report shows only 36 percent of Generation Xers have surpassed their parents net worth. CNBC's Sharon Epperson provides perspective into the reduction of wealth.
Treasury moves to fend off corporate tax inversions
Treasury Monday took actions aimed at halting controversial inversions, in which companies legally move their headquarters abroad in a bid to lower tax rates.
First-time homebuyer? Time to take your checkbook out
Individual investors accounted for 12 percent of sales of existing homes in August, down from 16 percent the month before and 17 percent a year earlier. “This means that investors bought 26.3 percent fewer homes last month,” IHS Global Insight economist Stephanie Karol pointed out in an email to clients. Investors scooping up properties in all cash deals, including lots of homes in foreclosure, have been boosting the home price recovery, but the National Association of Relators said a pullback by investors could actually be good for the housing market.
Baggage fees: Nuisance for you, big money for airlines
Fares were up more than 8% in the Q2, checked-bag fees continued to climb, and airlines collected $753 million in fees for reservation changes and cancellations.
Tax heist: Thieves scam taxpayers out of $5.2 billion
Scam artists conned the federal government out of at least $5.2 billion in fraudulent tax refunds last year—and though that estimate is shocking enough—the amount is likely much higher, auditors warned on Monday. Identity tax refund fraud has ballooned in recent years as electronic filing gives thieves an easy way to use stolen social security numbers and simply file phony tax returns. Though the electronic filing has made the tedious process more bearable and user-friendly for taxpayers, it has also made it much easier for criminals to scam the system. Thanks to electronic filing, fraudsters armed only with laptops or smart phones can steal millions of dollars from taxpayers—all from the comfort of their own homes.
Obamacare checkup: One year later
With the one-year anniversary of Obamacare's Healthcare.gov nearing, Americans tell us how they've been faring.
Wall Street takes biggest hit since August 5
The Dow and broader S&P 500 skidded by the widest margin since early August as traders fretted over a bout of weak housing data.
Detroit tells judge: We can't give away free water
Detroit's water department defended its shutoff policy Monday and warned that free service to people with unpaid bills could be "very devastating" to the bottom line. The water department would be violating Michigan law and breaking agreements with bond holders if forced to supply water and ignore overdue bills.
Climate change protests meet fossil fuel realities
This weeks UN climate summit is raising hopes for a new treaty in Paris next year. Meanwhile, global greenhouse emissions hit a record in 2013 and fossil fuel usage is expected to rise 38% by 2040.
Protestors in bid to shut down the Big Board
A group of protesters attempts to flood Wall Street with sit-ins to disrupt the New York Stock Exchange on Monday, one day after the People’s Climate Change march.
Small-cap selloff leaves fewer stocks shouldering rally
The biggest tumble for smaller companies in seven weeks underscored weakening breadth in the American bull market.
Financial elite's offspring start their own hedge funds
For the young man who has everything: a hedge fund of his very own. The scions of a number of wealthy families, including the sons of prominent Wall Street figures Howard Marks and Ken Moelis, have either recently launched hedge funds or plan to do so soon, according to people familiar with the matter. Andrew Marks, the 28-year old son of billionaire Howard Marks, has told potential investors and industry executives he expects as much as $200 million in funding from his father along with other "friends and family" money. The elder Mr. Marks founded Oaktree Capital Group LLC, a Los Angeles-based investment firm with more than $90 billion under management.
3 steps to a more Fed-proof portfolio
“Committee participants want to make sure that we have the flexibility — that the committee has the flexibility to respond to unfolding developments,” Fed Chair Janet Yellen said primly at her press conference this past Wednesday. Above all, Yellen argued, the Fed doesn’t want to be “locked into” any kind of forward guidance outlook. No shocker there — this is the stock market, where if you’re not being greedy, you’re cowering in fear — but the amount of greed in riskier parts of the market, like fledgling biotech and technology companies, has risen to new highs. Well, if the Fed wants flexibility, you should too.
Argentina's Fernandez to meet with investor George Soros
Argentine President Cristina Fernandez on Monday will meet bondholder and billionaire financier George Soros, whose portfolio includes a 3.5 percent stake in Argentina's state-controlled energy. Argentina has frequently cited the Hungarian-born magnate's investments in the country as a signal of investor confidence in the $490 billion economy.