Topic: U.S. Department of the Treasury
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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.
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Major gay marriage cases in federal court and where they stand
Battles over same-sex marriage have been raging in the federal courts for several years. Two could reach the US Supreme Court within a year: one challenging California's ban on gay marriage under Proposition 8, and the other seeking to invalidate the federal Defense of Marriage Act (DOMA). Here are the cases to follow.
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Seven retirement questions you need to answer
Retirement planning isn't easy. Nearly half of Americans don't feel financially prepared to live to age 75, according to a survey from Northwestern Mutual. But the process is a lot less burdensome if you break the task down into simpler parts. Here are seven questions to ask as you plan for your long-term financial security in retirement.
All Content
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Why Iran, more than Russia, may obstruct US goals in Syria
Russia has been the main obstacle on the international stage to US efforts to end Syria's violence, but on the ground Iran appears to be the main outside force propping up the Assad regime.
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Consumer finance watchdog: a birthday, but no one comes
The Consumer Financial Protection Bureau celebrated its first anniversary without fanfare. Despite some achievements, the CFPB has yet to tackle big and sensitive issues.
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Syria civil war rages: why Hillary Clinton is focused on what comes after
The US is eager to keep undesirable actors out of a post-Assad Syria, but when Hillary Clinton meets Saturday with senior Turkish officials and Syrian opposition figures, they'll want to discuss the raging civil war.
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Standard Chartered shares plunge after Iran allegations
Standard Chartered market value plummeted by nearly $12.5 billion after the New York state regulator accused the UK bank of being involved in laundering money for Iran. The share price for Standard Chartered tanked by 23 percent.
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Stocks slump as Europe dithers
Stocks fall in Europe and the US as European Central Bank make no clear move on the euro debt crisis. The Dow falls 92 points.
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New Iran sanctions: why President Obama is tightening the screws
The White House announces new sanctions against Iran, targeting its oil sector and related banks, in what appears to be an election-year bid to show that President Obama is still tough on Tehran.
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More worries for the wealthy? Inheritance tax to jump unless Congress acts
The federal inheritance tax rate will jump to 55 percent in 2013 unless Congress acts. Republicans and Democrats disagree on the best plan. But a stalemate will result in higher inheritance taxes than either party wants.
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Apple's earnings miss could undermine wobbly market
Apple stock falls in after-hours trading after it reports disappointing quarterly earnings and revenue. Apple faces same headwinds as other multinationals with lower earnings this quarter.
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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 bombSir 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 scrutinyRetired 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.
- 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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