President Barack Obama on Wednesday cast his latest economic pitch as a matter of patriotism, urging the Senate to ditch its partisan mode at least long enough to pass a package of tax cuts and loan relief for small businesses. "This is as American as apple pie," the president said. Read More
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Business
President Barack Obama on Wednesday cast his latest economic pitch as a matter of patriotism, urging the Senate to ditch its partisan mode at least long enough to pass a package of tax cuts and loan relief for small businesses. "This is as American as apple pie," the president said. Read More
President Barack Obama on Wednesday cast his latest economic pitch as a matter of patriotism, urging the Senate to ditch its partisan mode at least long enough to pass a package of tax cuts and loan relief for small businesses. "This is as American as apple pie," the president said. Read More
Business
President Barack Obama on Wednesday cast his latest economic pitch as a matter of patriotism, urging the Senate to ditch its partisan mode at least long enough to pass a package of tax cuts and loan relief for small businesses. "This is as American as apple pie," the president said. Read More
President Barack Obama on Wednesday cast his latest economic pitch as a matter of patriotism, urging the Senate to ditch its partisan mode at least long enough to pass a package of tax cuts and loan relief for small businesses. "This is as American as apple pie," the president said. Read More
Business
The modern Republican argument about taxes seems to boil down to two principles, both misguided: Taxes can be reduced, but they can never be allowed to go up. And whatever level taxes are at, they are too high.
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Business
BP Plc reported a record loss after taking a charge for the Gulf of Mexico oil spill, the worst in U.S. history.
The second-quarter net loss of $17.2 billion compared with a profit of $4.39 billion in the year-earlier period. Chief Executive Officer Tony Hayward resigned and Robert Dudley will succeed him on Oct. 1, the London-based company said in a statement today. The company will expand a programme of asset sales to as much as $30 billion over 18 months.
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Business
In an address to Members of Congress and participants attending a Congressional Black Caucus meeting, Robert L. Johnson, founder and chairman of The RLJ Companies, called for a national discussion about the growing wealth gap which he referred to as a "wealth gap Tsunami threatening African American families." Read More
In an address to Members of Congress and participants attending a Congressional Black Caucus meeting, Robert L. Johnson, founder and chairman of The RLJ Companies, called for a national discussion about the growing wealth gap which he referred to as a "wealth gap Tsunami threatening African American families." Read More
Business
An epic fight is brewing over what Congress and President Obama should do about the expiring Bush tax cuts, with such substantial economic and political consequences that it could shape the fall elections and fiscal policy for years to come. Read More
An epic fight is brewing over what Congress and President Obama should do about the expiring Bush tax cuts, with such substantial economic and political consequences that it could shape the fall elections and fiscal policy for years to come. Read More
Business
Earlier this week, The Council of Urban Professionals launched their inaugural "Digital Summit" at the SVA Theatre in midtown Manhattan.
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Business
The euro fell, ending its longest weekly rally in nine months versus the dollar, on concern stress tests of European Union banks failed to identify sources of weakness that would aggravate the region's debt crisis.
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Business
Troubles in the housing market and rising unemployment claims continue to stunt economic recovery. The National Association of Realtors reports sales of previously occupied homes fell 5.1 percent last month.
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Business
Federal Reserve Chairman Ben Bernanke reiterated Wednesday his belief that Congress should continue to prop up the sputtering economy, casting aside concerns that the federal budget deficit should trump the economy's need for additional stimulus.
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Business
Reveling in victory, President Barack Obama on Wednesday signed into law the most sweeping overhaul of financial regulations since the Great Depression, a package that aims to protect consumers and ensure economic stability from Main Street to Wall Street. Read More
Reveling in victory, President Barack Obama on Wednesday signed into law the most sweeping overhaul of financial regulations since the Great Depression, a package that aims to protect consumers and ensure economic stability from Main Street to Wall Street. Read More
Business
With unemployment at record highs, churches and Christian organizations are stepping in to help job seekers both practically and spiritually.
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Business
Credit agency Moodys has downgraded Ireland's government bond ratings to Aa2, blaming banking liabilities, weak growth prospects and a substantial increase in the debt to GDP ratio.
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Business
KUDOS to the Federal Housing Finance Agency, overseer of Fannie Mae and Freddie Mac, the crippled mortgage finance giants. While some in Washington have continued to coddle the big banks even after they drove our economy into the ditch, this agency seems serious about recovering money for taxpayers by holding bad financial actors to account. Read More
KUDOS to the Federal Housing Finance Agency, overseer of Fannie Mae and Freddie Mac, the crippled mortgage finance giants. While some in Washington have continued to coddle the big banks even after they drove our economy into the ditch, this agency seems serious about recovering money for taxpayers by holding bad financial actors to account. Read More
Business
Hundreds of police officers patrolled the streets of downtown Indianapolis, Indiana, early Sunday after three shootings within blocks of each other left 10 people injured.
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Eye on Africa/World
Billionaire businessman Bob Johnson has chosen Liberia for his latest
venture, the country's first top class hotel.
Johnson, the founder of Black Entertainment Television, was the first African American to control a company on the New York Stock Exchange and the first black owner of a major U.S. professional sports team.
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Billionaire businessman Bob Johnson has chosen Liberia for his latest
venture, the country's first top class hotel. Johnson, the founder of Black Entertainment Television, was the first African American to control a company on the New York Stock Exchange and the first black owner of a major U.S. professional sports team.
Business
Half a year after some predicted he would be booted from the Obama administration, Treasury Secretary Timothy F. Geithner stands to inherit vast power to shape bank regulations, oversee financial markets and create a consumer protection agency.
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Business
American International Group Inc. and some of its directors and officers have agreed to a $725 million settlement to resolve allegations of wide-ranging fraud laid out in a class action suit led by three Ohio pension funds. Read More
American International Group Inc. and some of its directors and officers have agreed to a $725 million settlement to resolve allegations of wide-ranging fraud laid out in a class action suit led by three Ohio pension funds. Read More
Business
Members of the Federal Reserve lowered their expectations for economic growth and raised their projections of the nation's unemployment rate, cautioning for the first time in recent memory that the low employment rate "over the next several years... would likely be below levels they consider to be consistent" with their mandate to maximize employment, according to meeting minutes released Wednesday.
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Business
Just over a hundred years ago, the United States led the world in terms of rethinking how big business worked - and when the power of such firms should be constrained. In retrospect, the breakthrough legislation - not just for the US, but also internationally - was the Sherman Antitrust Act of 1890. Read More
Just over a hundred years ago, the United States led the world in terms of rethinking how big business worked - and when the power of such firms should be constrained. In retrospect, the breakthrough legislation - not just for the US, but also internationally - was the Sherman Antitrust Act of 1890. Read More
Business
Corporate America is hoarding a massive pile of cash. It just doesn't want to spend it hiring anyone.
Nonfinancial companies are sitting on $1.8 trillion in cash, roughly one-quarter more than at the beginning of the recession. And as several major firms report impressive earnings this week, the money continues to flow into firms' coffers.
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Business
The president and chief operating officer of Johnson Publishing Co., the
publisher of Ebony and JET magazines, has resigned. Read More
The president and chief operating officer of Johnson Publishing Co., the
publisher of Ebony and JET magazines, has resigned. Read More
Business
The European Commission cleared Wednesday U.S. cable operator Comcast Corp. (CMCSA) to buy a controlling stake in General Electric's (GE) media and entertainment company NBC Universal. Read More
The European Commission cleared Wednesday U.S. cable operator Comcast Corp. (CMCSA) to buy a controlling stake in General Electric's (GE) media and entertainment company NBC Universal. Read More
Business
One year into the global recovery, the U.S. is lagging far behind other major economies in restoring jobs lost in the recession. A Wall Street Journal analysis of employment trends in 11 countries suggests that manageable debt burdens and healthy banking systems--areas in which the U.S. doesn't excel--are proving to be crucial factors in creating jobs.
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Business
The finance-reform bill Congress is likely to pass this summer won't eliminate the risk of failure for financial firms, Treasury Secretary Tim Geithner says in an interview on Friday's Morning Edition.
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