Grave business - my financial world

Remember Greece?
It’s been two years since a financial crisis erupted in the birthplace of drama, and the final act is still unfinished. A second week […]

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A weak year for the economy likely ended on a hopeful note.
The economy likely grew at annual rate of 3 percent in the October-December quarter, […]

fast cash loan is fast becoming a viable financial option for consumers who need a few extra dollars.

India

The ubiquitous symbols of gainful employment, the key card and picture ID attached to his sweater, speak equally to Ed Wolfgram’s periodic rejection of his […]

The Philippines cut interest rates for the first time since July 2009, joining emerging markets from Thailand to Indonesia in easing monetary policy as a […]

Stocks wandered between small gains and losses early Monday as traders looked ahead to Alcoa Inc.’s fourth-quarter results, the unofficial start of corporate earnings season.
Alcoa […]

Treasuries (YCGT0025) had the biggest annual return since the depths of the financial crisis in 2008 as Europe

Stocks are closing barely changed in very light trading on the last week of the year.
The economic news was mixed, sending stocks bouncing up and […]

%3Cp%3EThe+House+intends+to+vote+down+a+bipartisan+two-month+extension+of+the+payroll+tax+cut+that+has+cleared+the+Senate+and+is+backed+by+President+Barack+Obama%2C+and+request+immediate+negotiations+on+a+full-year+renewal%2C+Speaker+John+Boehner+said+Monday.%3C%2Fp%3E+%09%3Cp%3E%22It%27s+time+to+stop+the+nonsense.+We+can+resolve+these+differences+and+we+can+do+it+in+a+way+that+provides+certainty+for+job+creators+and+others%2C%22+Boehner+said+at+a+news+conference%2C+although+he+provided+no+estimate+on+how+long+it+might+take+to+produce+a+compromise.%3C%2Fp%3E+%09%3Cp%3EWithout+action+by+Congress%2C+both+the+payroll+tax+cut+and+a+program+for+long-term+unemployment+benefits+will+expire+on+Jan.+1.%3C%2Fp%3E+%09%3Cp%3EHouse+Majority+Leader+Eric+Cantor%2C+R-Va.%2C+said+lawmakers+would+not+let+the+tax+increase+kick+in+but+he+did+not+say+how+they+would+resolve+the+dispute.%3C%2Fp%3E+%09%3Cp%3E%22In+this+tough+economy%2C+middle+class+Americans+need+to+know+that+their+taxes+won%27t+be+going+up+at+any+point+next+year.%2C%22+Cantor+said+in+a+statement.+%22We+are+going+to+stay+here+and+do+our+work+until+we+guarantee+that+no+one+faces+a+tax+increase+in+the+year+ahead.%22%3C%2Fp%3E+%09%3Cp%3EThe+leaders%27+comments+came+after+a+chaotic+weekend+in+which+Senate+leaders+first+failed+to+agree+on+a+full-year+bill%2C+then+coalesced+around+the+two-month-extension+that+passed+overwhelmingly%2C+only+to+spark+a+revolt+among+GOP+conservatives+in+the+House.%3C%2Fp%3E+%09%3Cp%3EThere+was+no+immediate+reaction+from+either+the+White+House+or+leaders+in+the+Senate%2C+which+adjourned+for+the+year+on+Saturday+shortly+after+approving+its+version+of+the+bill.%3C%2Fp%3E+%09%3Cp%3EThe+revolt+of+the+rank+and+file+placed+Boehner+and+Republicans+in+a+difficult+position%2C+just+as+it+appeared+they+had+outmaneuvered+Obama+by+assuring+that+the+legislation+would+require+him+to+make+a+swift+decision+on+construction+of+a+proposed+oil+pipeline.%3C%2Fp%3E+%09%3Cp%3EObama+had+announced+he+would+put+off+the+issue+until+after+the+presidential+election+in+2012+rather+than+decide+the+fate+of+a+project+that+divided+usual+Democratic+allies+_+environmentalists+opposed+and+several+labor+unions+in+favor.%3C%2Fp%3E+%09%3Cp%3EIn+a+television+interview+shortly+before+Boehner%27s+news+conference%2C+White+House+communications+director+Dan+Pfeiffer+accused+Boehner+of+reversing+his+position+on+the+two-month+measure+because+of+a+%22tea+party+revolt.%22%3C%2Fp%3E+%09%3Cp%3EBoehner%2C+R-Ohio%2C+said+he+had+not+changed+his+view+on+the+bill.%3C%2Fp%3E+%09%3Cp%3E%22I+raised+concerns+about+the+two-month+process+from+the+moment+I+heard+about+it%2C%22+he+said.%3C%2Fp%3E+%09%3Cp%3EHe+called+on+members+of+the+Senate+to+%22put+their+vacations+on+hold%22+and+return+to+forge+a+compromise.%3C%2Fp%3E+%09%3Cp%3EObama+has+said+repeatedly+that+Congress+should+not+quit+for+the+year+until+the+tax+cut+has+been+extended%2C+and+has+said+he+would+postpone+a+planned+Hawaiian+vacation+until+the+bill+is+finished.%3C%2Fp%3E+%09%3Cp%3EGOP+leaders+planned+House+votes+on+the+payroll+measure+for+Monday+evening.%3C%2Fp%3E+%09%3Cp%3EWithout+congressional+action%2C+the+payroll+tax+paid+by+160+million+workers+would+rise+2+percentage+points+on+Jan.+1+_+a+boost+that+Democrats+eagerly+said+would+be+the+GOP%27s+fault.+The+brinksmanship+is+a+familiar+pattern+this+year+between+the+two+parties%2C+who+have+narrowly+averted+a+federal+default+and+several+government+shutdowns+in+past+fights.%3C%2Fp%3E+%09%3Cp%3EExtending+the+payroll+tax+cut+and+jobless+benefits+have+been+a+keystone+of+Obama%27s+and+congressional+Democrats%27+effort+to+spur+a+revival+of+the+flaccid+economy.+Congressional+Republican+leaders+also+say+they+support+the+idea%2C+but+some+of+their+rank-and-file+remain+unconvinced%2C+saying+the+unemployment+coverage+is+too+generous+and+that+cutting+the+payroll+tax+does+not+create+jobs.%3C%2Fp%3E+%09%3Cp%3EThe+Senate+bill+would+cut+the+payroll+tax%2C+extend+jobless+benefits+and+avoid+cuts+in+Medicare+payments+to+doctors+through+February.+Both+sides+say+they+want+to+renew+all+three+for+a+full+year%2C+but+bargainers+have+so+far+failed+to+agree+on+how+to+pay+for+a+package+that+size%2C+which+could+cost+roughly+%24200+billion.%3C%2Fp%3E+%09%3Cp%3EThe+White+House%27s+Pfeiffer+said+there+was+still+an+opportunity+for+House+Republicans+to+avoid+triggering+a+tax+increase+and+for+the+chamber+to+pass+the+Senate-approved+two-month+extension.%3C%2Fp%3E+%09%3Cp%3E%22You+only+need+a+couple+dozen+Republicans+to+do+it%2C%22+Pfeiffer+said.+%22I+find+it+inconceivable+that+you+can%27t+get+a+couple+dozen+Republicans+to+vote+for+a+tax+cut+for+the+middle+class.%22%3C%2Fp%3E+%09%3Cp%3EAfter+Senate+Majority+Leader+Harry+Reid%2C+D-Nev.%2C+and+Minority+Leader+Mitch+McConnell%2C+R-Ky.%2C+struck+a+deal+on+their+two-month+bill+Friday+night%2C+McConnell+expressed+optimism+that+Congress+would+approve+it+and+lawmakers+would+revisit+the+battle+in+February.%3C%2Fp%3E+%09%3Cp%3EThey+expressed+their+views+a+day+after+House+GOP+lawmakers+on+a+conference+call+voiced+vehement+opposition+to+the+Senate+bill%2C+saying+it+lacked+serious+spending+cuts.+They+also+said+they+were+tired+of+their+leaders+striking+compromises+and+not+battling+harder+for+their+positions%2C+according+to+several+participants.%3C%2Fp%3E+%09%3Cp%3EBoehner+did+not+specify+the+changes+he+would+like+in+the+bill%2C+but+touted+%22reasonable+reductions+in+spending%22+and+language+blocking+some+Obama+administration+anti-pollution+rules+in+a+yearlong+payroll+tax+bill+the+House+approved+last+week.+That+bill+covered+its+costs+by+carving+savings+from+federal+workers%2C+higher-income+Medicare+recipients%2C+fees+paid+to+insure+mortgages+and+elsewhere.%3C%2Fp%3E+%09%3Cp%3EReid+and+Schumer+said+Sunday+that+Boehner+had+asked+McConnell+and+Reid+to+negotiate+a+compromise%2C+seemingly+suggesting+that+Boehner+had+walked+away+from+a+deal.+Republicans+said+that+is+untrue+and+said+the+House+GOP+played+no+role+in+last+week%27s+bargaining+between+the+Senate+leaders.%3C%2Fp%3E+%09%3Cp%3EMcConnell+offered+support+for+Boehner+Sunday.+His+spokesman%2C+Donald+Stewart%2C+said+the+best+way+to+%22provide+certainty+for+job+creators%2C+employees+and+the+long-term+unemployed+is+through+regular+order%22+_+a+term+used+to+describe+the+normal+process+of+negotiations+between+the+House+and+Senate.%3C%2Fp%3E+%09%3Cp%3EThe+Senate+bill+also+includes+a+provision+dear+to+Republicans+that+would+force+Obama+to+approve+a+proposed+Canada-to-Texas+oil+pipeline+within+60+days+unless+he+declares+the+project+would+damage+the+national+interest.%3C%2Fp%3E+%09%3Cp%3EObama+had+previously+said+he+would+make+no+decision+on+the+Keystone+XL+pipeline+until+2013%2C+allowing+him+to+wait+until+after+next+November%27s+elections+to+choose+between+two+Democratic+constituencies%3A+unions+favoring+the+project%27s+thousands+of+jobs+and+environmentalists+opposed+to+its+potential+pollution+and+massive+energy+use.+Obama+initially+threatened+to+kill+the+payroll+tax+bill+if+it+included+the+pipeline+language+but+eventually+retreated.%3C%2Fp%3E+%3Cp%3E%3Ca+href%3D%27http%3A%2F%2Fwww.stltoday.com%2Fnews%2Fscience%2Fboehner-house-will-reject–month-payroll-tax-cut%2Farticle_3b9464ff-f206-5a2f-94df-f3b798cbcc6e.html%27+rel%3D%27nofollow%27%3ESource%3C%2Fa%3E%3C%2Fp%3E+

The number of people applying for unemployment benefits fell last week to the lowest level in nine months, evidence that the job market is improving.
The […]