Topic: U.S. Department of the Treasury
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Fortune 500: Top 10 companies in 2013
Fortune has released its annual list of the largest corporations in the United States, and there were a few notable changes in this year’s group. Here are the Top 10.
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Debt-ceiling showdown: 4 reasons it's not a replay of 2011
In 2011, Congress and President Obama went to the brink of government default when congressional Republicans balked at raising the nation's debt ceiling. The spring of 2013 appears to have another debt ceiling fight in store. Here are the top four things that have changed.
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Ten tax moves to protect yourself from the fiscal cliff
Americans are facing an unprecedented tax increase of nearly $500 billion on Jan. 1, 2013, from the so-called "fiscal cliff." Are you ready? Here are 10 year-end tax strategies I recommend:
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Briefing
Obama vs. Romney 101: 3 ways they differ on regulation
Wall Street is a big target – blamed for the financial crisis that led to the Great Recession. Mitt Romney says efforts to rein in financiers via more regulation are an attack on “economic freedom.” President Obama says new regulations would make it “more profitable to play by the rules than to game the system.” Here are three specifics on which the two differ.
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Focus
Recession in America? 10 questions assessing the threat.
Concerns about weak economies in Europe have already rattled global financial markets, and things are hardly rosy at home. Is America heading into a recession? Here are answers to 10 questions about that risk.
All Content
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HSBC money laundering: Bank vows fixes. Senators doubtful.
HSBC money laundering comes under the microscope in a Senate hearing. Bank officials promise to shut down operations in the Cayman Islands, tied to HSBC money laundering.
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LIBOR scandal: Will Feds target not just employees, but a whole bank?
If a bank reporting its lending rates has given intentionally inaccurate numbers, that could be a crime, say experts. Prosecutors have been poring over documents related to LIBOR for two years.
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Terrorism & Security British spy chief says Iran is two years from nuclear bomb
Sir John Sawers, the head of MI6, said the British spy agency has tried unsuccessfully to thwart Iran's efforts to develop a nuclear weapon and warned that US and Israeli retaliation was likely.
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US eases sanctions, allows companies to do business with Myanmar
After 15 years of sanctions, the US will allow investment in Myanmar again. The move was the latest in a three-year push to normalize diplomatic relations with Myanmar.
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Decoder Wire Is Obama's tax plan a 'job-killer'?
Conservatives say the tax plan will harm small businesses – the nation's top job creators. But Obama says only about 3 percent of such firms are affected, while others call the tax-hiring link 'simplistic.'
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Backchannels Lobbyists for listed Iranian terror group face new scrutiny
Retired US politicians, generals, and officials have been lobbying on behalf of the Iranian group MEK, listed as a terrorist group by the State Department.
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Opinion: Direct foreign intervention is the only feasible option for Syria crisis
The recent Geneva agreement is ill fitted to reality in Syria, and a new Human Rights Watch report details torture by the Bashar al-Assad regime. Intervention appears to be the only means for halting human rights violations, stabilizing the conflict, and ensuring a sustainable transition.
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Slowing manufacturing numbers lead to mixed day on The Street
Stocks struggled during a quiet start to holiday-week trading following news that American manufacturing numbers seem to have slowed in June. The Dow average fell after the manufacturing report, finishing down 8 points at 12,871.
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Gas prices poised to drop below $3 a gallon, as Fourth of July holiday nears
Gas prices in South Carolina are already at $2.98 a gallon, while the national average on Wednesday was $3.38. A decade-high number of travelers could hit the road for the Fourth of July holiday.
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Double the sales tax? Japanese see hit to wallets, little impact on national debt
Japan's lower house of parliament voted today to double the sales tax. The bill still has to pass the upper house, and many question if it can make a significant dent in Japan's massive public debt.
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Fed moves to juice US economy, but Wall Street wanted a jolt
The US central bank said Wednesday it will act to keep long-term borrowing costs low, to help stimulate the economy amid a weakening forecast. The Fed shaved 0.5 percent off its outlook for GDP growth this year.
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CBO director: more eurozone turmoil would be 'bad news for US economy'
Congressional Budget Office Director Douglas Elmendorf, at a Monitor breakfast Wednesday, said the challenges Europe faces now are 'larger than ever' and weighing on the US stock market.
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Focus
Recession in America? 10 questions assessing the threat.
Concerns about weak economies in Europe have already rattled global financial markets, and things are hardly rosy at home. Is America heading into a recession? Here are answers to 10 questions about that risk.
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Encouraged by the Fed's positive comments, stocks rise sharply
Erasing a big decline from the day before, the Dow Jones increased by 162 points to close at 12,573, as every major category to stock in the market closed higher. The president of the Fed's Chicago bank said he supports super-low interest rates, encouraging investors.
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Dutch bank pays steep price for ignoring US sanctions on Iran and Cuba
Dutch bank ING has agreed to pay a record $619 million fine after admitting that it moved money from Iran and Cuba through US banks despite sanctions forbidding the practice.
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Too good to last: Relief over Spain bank rescue fades quickly
The news of a bailout of Spanish banks caused a brief burst of optimism to penetrate the gloom of Wall Street Monday. But within hours stocks had fallen again, with the Dow closing down 142 points at 12,411, another large decline.
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Calm returns to Wall Street, trading closes with mixed results
The Dow Jones average opened at its lowest level since December after a 275-point sell-off on Friday ignited by grim economic signals, especially a dismal report on the labor market. The index closed down 17 points at 12,101.
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The Daily Reckoning As recovery signs slow, US Treasury bonds sales continue
With no sign of a real recovery in sight, Bonner wonders who will come out the winner when the dust finally settles. Will it be the gold bugs, holding on to cash, the savvier stock traders, or perhaps, could it possibly be bonds buyers?
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Dow plunges 275 points: Is stock market starting to smell recession?
A poor US jobs report Friday sent the stock market down sharply, and other economic data coming in from Europe and China also did not boost optimism.
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Poor unemployment report points to troubled US economy
The US added 69,000 jobs in May, the Labor Department reported Friday – the third straight month of disappointing jobs numbers. The unemployment rate edged higher, to 8.2 percent.
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Sell in May and go away: Stocks close dismal month
With a disappointing finish on Thursday, the stock market closed what was by some measures its worst month in two years. The Dow closed down 26 points on Thursday to end the month at 12393.
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EU calls for "banking union" to fight debt crisis
The European Commission proposed Wednesday that such a body should oversee banks directly, sidestepping national governments.
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As fears about Europe's future worsen, the Dow closes down
Fearing a financial rupture in Europe, investors around the world fled from risk Wednesday. They punished stocks and the euro, and the yield on a benchmark US bond hit its lowest point since World War II. The Dow closed down 161 points to land at 12419.
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Consumer Energy Report Oil subsidies: Surprise! Liberals are fans, too.
When asked if the federal government should eliminate subsidies for oil companies, most would respond with a resounding 'yes.' But such a policy would have unwelcome unintended consequences, and not just for billionaire oil tycoons.
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US Treasury bond yields hit record low as eurozone worries mount
A decline in global stock prices Wednesday shows that many investors are taking sanctuary in US Treasury bonds, anticipating major convulsions in the eurozone – and perhaps its breakup.
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