An estimated 11 million immigrants are living illegally in the U.S. That could change if Congress approves immigration reform, now making its way on the Hill. The Senate has a bill developed by a bipartisan group of eight including Republican John McCain of Arizona and Democrat Michael Bennett of Colorado that would put undocumented immigrants on a 13-year path to U.S
The United States government has had two years to head off automatic "sequester" spending cuts that most people agreed were unnecessary and almost everyone hated. But these days, the government doesn't do anything unless public anger hits such a state of fervor that Congress -- people actually begin to fear for their jobs.
In his previous best-sellers such as The Omnivore’s Dilemma, In Defense of Food and Food Rules, Michael Pollan examined America’s diet and summed up a very complicated issue in seven words: Eat food.
Markets rallied Monday morning on news of the so-called bail-in for Cyprus, but then fell more than 1% in afternoon trading after comments made by William Dudley, president of the Federal Reserve Bank of New York. Dudley said the Fed may eventually wind down its monthly $85 billion bond-buying program. “At some point, I expect that I will see sufficient evidence of economic momentum to cause me to favor gradually dialing back the pace of asset purchases,” Dudley told the Economic Club of New York
President Barack Obama has agreed to curtail future cost-of-living hikes for Social Security and softened his demand for higher taxes on the rich in quickening talks with House Speaker John Boehner to avoid the ‘‘fiscal cliff,’’ various media reported Monday night, citing people familiar with the talks. Both sides expressed hope a deal was near, The New York Times reported. Speaking a few hours after Obama and Boehner met at the White House, sources told the Associated Press the president was now seeking a higher tax rate beginning at incomes over $400,000, up from the levels of $200,000 for individuals and $250,000 for couples that were cornerstones of his campaign.
While South Korea's family-controlled chaebol conglomerates have been at the heart of the country's rapid industrial development over the past 50 years, today many politicians are calling for a more dynamic small-business sector. The FT's Simon Mundy explores the challenges faced by businesses living in the shadow of the country's powerful conglomerates. Related Article: http://blogs.ft.com/beyond-brics/2011/04/28/chaebols-angered-by-calls-for-better-governance/ For more video content from the FT visit http://www.ft.com/video
America is weeks from choosing its next president. After years of pulling back from the international stage, are we poised to see a different approach in US foreign policy?
The base metals market is waiting for the leadership change in China and the outcome of the US presidential election, according to Andrew Michelmore, chief executive of MMG, the international miner majority owned by China Minmetals Corporation. Related Article: http://www.ft.com/intl/cms/s/0/35ccd464-1693-11e2-957a-00144feabdc0.html For more on commodities visit: http://www.ft.com/markets/commodities
The Frieze Arts Fair in London is showing for the first time not just contemporary art but pre-2000 art as well.
Before the financial crisis the market believed banks were worth as much as four times the value accountants had written in their books. Since 2008 values have collapsed to much less than par.