In the run up to his 2015 State of the Union speech, President Barack Obama was once again trumpeting his administration’s intervention in Detroit.
"Last month, the rescue of the auto industry officially came to an end," Obama said Jan. 7 in Detroit. "The auto companies have now repaid taxpayers every dime and more of what my administration invested in."
Britain’s most senior doctor has said the under-pressure NHS may be forced to abandon the concept of free healthcare for all.
Prof Sir Bruce Keogh, medical director of the NHS in England, said there were doubts over whether the taxpayer-funded model was “sustainable in the longer term”.
He added that huge changes were needed - including less reliance on hospitals - if free treatment was to be preserved.
"Raising rates up to 17% — that's the end of the banking system," an "emotional" senior manager of a mid-size bank told Vedomosti on Tuesday.
Vedomosti is a Russian-language business publication that is a joint venture between Dow Jones, the Financial Times, and the publishing house Sanoma Independent Media.
The banker "gives an example: today, one of the major banks told one of the largest energy companies, that the bank wants to raise credit rates up to 19%," Vedomosti reports.
Those Americans who didn’t get health insurance last year could be in for a rude awakening when the IRS asks them to fork over their Obamacare penalty — and it could be a lot more than the $95 many of them may be expecting.
The Affordable Care Act requires those who didn’t have insurance last year and didn’t qualify for one of the exemptions to pay a tax penalty, which was widely cited as $95 the first year. But the $95 is actually a minimum, and middle- and upper-income families will actually end up paying 1 percent of their household income as their penalty.
Most members of Congress make $174,000 a year, but Rep. Jim Moran says that’s not enough.
“I think the American people should know the members of Congress are underpaid,” Moran, D-Va., told CQ Roll Call. “I understand that it’s widely felt they underperform, but the fact is that this is the board of directors for the largest economic entity in the world.”
The best indicator of a chess player's form is his ability to sense the climax of the game.
–Boris Spassky, World Chess Champion, 1969-1972
You've likely heard that the German central bank announced it will begin withdrawing part of its massive gold holdings from the United States as well as all its holdings from France. By 2020, Bundesbank says it wants half its gold reserves stored in its own vault in Germany.