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Latest 24 Hour Economy News
Source: Global News

Democrats ready vote to block Trump from using national emergency to fund border wall

Today 06:04 GMT

Democrats controlling the House have teed up a vote next week to block President Donald Trump from using a national emergency declaration to fund a wall along the U.S.-Mexico border, accelerating a showdown in Congress that could divide Republicans and lead to Trump’s first veto.

The Democrats introduced a resolution Friday to block Trump’s declaration, and House Speaker Nancy Pelosi said the House would vote on the measure Tuesday.

Source: DW

'Terrorist accomplice' in Anis Amri Berlin Christmas market attack deported

Today 06:04 GMT

The German security forces apparently deported a key suspect in the 2016 Berlin Christmas market attack before he was questioned.

The German Interior Ministry deported a Moroccan secret agent, apparently to hide his involvement in theDecember 2016 Christmas market attack in Berlin, according to an internal document leaked to the German magazine Focus. Bilel Ben Ammar, described by the magazine as a "radical Islamist," was an associate of Anis Amri, the Tunisian man who drove a stolen truck into a crowded Christmas market in central Berlin, killing 12 people and injuring 60 more.

Source: DW

Germany closed 2018 with record budget surplus

Today 06:04 GMT

A record budget surplus totaling €58 billion was made by Germany's federal, regional and communal governments last year.

It was the fifth year in succession that Germany had notched up a record surplus, said the Wiesbaden-based Destatis, with total revenue in 2018 amounting to a 4.7 percent gain on 2017. Offset against expenditures of €1,485.6 that left coffers €58 billion in surplus - an overhang of  1.7 percent in terms of gross domestic product (GDP).

Source: Common Domain

The $1 tip is dead and how married couples should file their taxes

Today 06:04 GMT

Turn to an adviser for help with when to take Social Security, what’s the most efficient way to tap your retirement savings and how to pay for long-term care.

It was unusual in how the write-down of its Kraft natural cheese business, Oscar Mayer cold cuts business and Canada retail business was carried out. President Donald Trump on Friday said a deal with China on currency has been reached as he said he may meet his counterpart in Florida next month to try to wrap up talks.

Source: Fox News

Marc Thiessen: Alexandria Ocasio-Cortez is an economic illiterate -- And that's bad news for America

Today 06:04 GMT

Case in point: Last week, Ocasio-Cortez celebrated the tanking of a deal negotiated by her fellow Democrats in which Amazon promised to build a new headquarters in Long Island City, New York, right next to her congressional district.

Ocasio-Cortez does not seem to understand that by helping to drive Amazon away, she did not save New York $3 billion; she cost New York $27 billion.

Source: Common Domain

For U.K. Homeowners Looking to Trade Up, Now May be the Time to Sell

Today 06:04 GMT

With the U.K. set to leave the European Union on March 29—without any exit deal in place as of yet—tremendous uncertainty looms over the country in the weeks leading up. The impending deadline has already affected real estate markets in the U.K., with transactions dropping 33% from the third to the fourth quarter of 2018, according to a Winkworth report.

More: Real Estate Investments Are Never ‘Recession-Proof,’ but Some Are Safer Than Others. The type of property U.K. homeowners are hoping to sell and its location will influence how successful a sale is, and should be factored into decisions about timing.

Source: DW

Daimler, BMW invest $1 billion in ride-sharing venture

Today 06:04 GMT

Daimler CEO Dieter Zetsche and BMW chair Harald Krüger said in Berlin that they would invest €1 billion ($1.1 billion) in the joint venture, which will also offer carpooling, parking, trip planning and electric car charging services in big cities.

German car giants BMW and Daimler have announced a $1 billion investment in a joint ride-hailing and carsharing business. The automakers said they want to "establish a new player" to rival services from firms like Uber.

Source: Common Domain

European markets green as trade talk optimism spreads; SocGen up on cost-cut talk

Today 06:04 GMT

Europe’s markets were positive on Friday, after investor optimism from U.S.-China trade talks spread through the indexes.

As this week’s trade talks between the U.S. and China come to a close, investors are optimistic about progress, with President Donald Trump reportedly set to meet with China’s top trade negotiator on Friday. Although negotiations appear to be moving forward, officials from both sides have reportedly struggled to agree on specific language as they develop the framework of a potential trade deal.

Source: Reuters

A Fed pivot, born of volatility, missteps, and new economic reality

Today 06:05 GMT

The January statement, JP Morgan analyst Michael Feroli wrote recently, showed the Fed “subtly but profoundly evolving” to a new view of the world where a variety of forces have changed the way inflation and interest rates work, and have now changed how the central bank responds.

Along with Powell’s public comments, Fed minutes, and other documents, the picture emerges of a central bank edging towards a period of potentially difficult change as it reviews how to do business in light of that new reality.

Source: Common Domain

Sorry Bernie, stock buybacks aren’t to blame for America’s rising income inequality

Today 06:04 GMT

The study came to the following significant conclusion: "We show that for the period 2000-2012, inequality using personal income is substantively lower than inequality measured using Census Bureau money income, and the trends in both inequality and median income are different. This demonstrates the importance of using a national accounts based measure of income when examining the relationships between inequality and growth."

Source: Global News

Loose Presto rules fuel thriving black market in TTC child passes

Today 06:04 GMT

A Global News investigation has found a thriving online market in children’s Presto passes, which are good for unlimited free travel on the TTC until the child turns 13.

Compass, PRESTO transit passes could be ‘another tool to abusers’: advocates. In mid-February, Global News bought a child pass for $80 in cash at Bathurst station from someone found on Kijiji who said his name was Ricky.

Source: Common Domain

Fed sees steady but slower growth and stable inflation for U.S. economy in 2019

Today 06:04 GMT

The Federal Reserve said it will stick to its “patient” approach toward guiding the U.S. economy owing to somewhat slower growth in 2019 and mild inflation, according to the central bank’s annual report to Congress.

The Fed pointed to slower consumer spending and business investment, softer home sales, trade tensions with China and a weaker global economy. Worries about the economy ignited a stock-market DJIA, +0.61% SPX, +0.49%  meltdown in December, though prices have mostly recovered.

Source: DW

China's peer-to-peer lenders face crisis, investors face ruin

Today 06:05 GMT

Send Facebook Twitter google+ Whatsapp Tumblr linkedin stumble Digg reddit Newsvine. One of the first indications that not all was well came in 2015 when depositors lost 50 billion yuan (€6.9 billion, $7.82 billion) in online lender Ezubo, who regulators said was running a giant Ponzi scheme that scammed some 900,000 investors.

A burgeoning segment of the finance industry that imploded suddenly following allegations of widespread fraud and mismanagement.

Source: Common Domain

The right way to attack the budget deficit is to cut spending, not to raise taxes

Today 06:04 GMT

Some Democrats want to substantially raise income taxes on the rich, both to reduce income inequality and to cut the federal deficit.

It will produce a short-term economic cost unless the higher taxes for the rich are offset by lower taxes for the middle class that could spur more consumer spending. In addition, basic principles of public finance show that a smarter way to tax the rich more is by reducing tax loopholes and deductions rather than raising tax rates.

Source: Common Domain

My husband asked me to file a joint tax return without telling me he owes back taxes

Today 06:04 GMT

I was not aware of the debt my husband racked up, even when tax time came around and he asked me to sign our joint tax returns.

Among them: “You establish that at the time you signed the joint return you did not know, and had no reason to know, that there was an understatement of tax. Taking into account all the facts and circumstances, it would be unfair to hold you liable for the understatement of tax.”

Source: Fox News

FDA warns against 'young blood' transfusions

Wednesday 11:46 GMT
Source: BBC

Are we on the road to civilisation collapse?

Tuesday 00:33 GMT
Source: Common Domain

9 surprisingly small towns that are home to Fortune 500 companies

Wednesday 13:35 GMT
Source: BBC

The beach nobody can touch

Wednesday 09:52 GMT
Source: Common Domain

Top 10 foods to try in Sweden

Monday 11:44 GMT
Source: Common Domain

How the new Form 1040 could save you money before Tax Day

Thursday 17:15 GMT
Source: The Guradian

Chuka Umunna hopes new party will be created by end of year

Tuesday 12:41 GMT
Source: BBC

Is equal pay actually possible?

Today 06:04 GMT
Source: The Guradian

I navigated London Fashion Week in a wheelchair – and it didn't always go smoothly

Today 06:04 GMT
Source: DW

Afghan asylum-seeker offers to pay Elin Ersson's fine

Friday 15:25 GMT
Source: Common Domain

U.S. government bond yields retreat after data deluge, with Philly Fed in focus

Friday 13:35 GMT
Source: The Guradian

Oakland teachers strike for better pay as tech wealth transforms city

Friday 10:51 GMT
Source: Global News

All bets are off — it’s snowing in Las Vegas

Friday 12:40 GMT
Source: BBC

Is the Renaissance nude religious or erotic?

Today 06:04 GMT

“Four hostile newspapers are more to be feared than a thousand bayonets...” ― Napoléon Bonaparte