First U.S. Shutdown in 17 Years Imminent With No Talks

“Republicans and Democrats say they don’t want to close the government, though neither side is budging from their positions. House Republicans, led by Speaker John Boehner, want to delay President Barack Obama’s Affordable Care Act for a year and make other changes to the law. Democrats, led by Obama, say that won’t happen. Obama will […]

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Gross Says Investors Shouldn’t Trust Moody’s on U.S. AAA Rating

“Investors shouldn’t trust the opinion of Moody’s Investors Service on the U.S.’s Aaa rating and should rely instead on the company’s competitors, according to Pacific Investment Management Co. founder Bill Gross. Moody’s and the U.S. Treasury are one “happy family,” Gross, manager of the world’s biggest bond fund, said today in a post on Twitter. […]

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Bailed-Out Nations Get Another Four Years of Merkel

“Southern Europeans are facing four more years of Angela Merkel whether they like it or not. Majorities of 82 percent in Spain, 65 percent in Portugal and 58 percent in Italy repudiate the German leader’s handling of the euro area’s debt crisis, blaming her for drastic cuts in social services, recession and record unemployment, according […]

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BOE Leaves Policy Unchanged as Carney’s Guidance Assessed

“Bank of England officials left their bond-buying program unchanged today as they assessed the impact of Governor Mark Carney’s forward guidance policy to keep interest rates low amid a strengthening economic recovery. The Monetary Policy Committee, after meeting for the first time since introducing guidance last month, held the target for asset purchases at 375 […]

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Abe Adviser Hamada Doubts Japan Economy Showing Real Improvement

“Koichi Hamada, an adviser to Prime Minister Shinzo Abe, said it was too early to know whether Japan’s economy has turned the corner under the economic policies known as Abenomics. “Various economic indicators, including investment data, are picking up, but I’m not sure if they show a meaningful improvement,” Hamada said at an event today […]

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Fed Finds 18 Large Banks Weak in at Least One Capital Area

“Five years after one of the most costly financial crises in U.S. history, the 18 largest banks still fall short in at least one of five areas critical to risk management and capital planning, the Federal Reserve said. While many banking companies have improved capital planning techniques and raised capital levels, “there is still considerable […]

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